Dallas, Texas
Not resolved

This is really sad when big bank like you takes the repair money issued to consumer for roof repairs and applies it to principle of home loan and payments.

The house is still leaking while consumer has talked with everyone from India to America about the claim for insurance is to get the house FIXED!I don't think this should be legal and I know it isn't in the state of TX.

Bank of America should return all money to Homeowner that had continually paid for Insurance so if they should be a bad storm and damage occur, it is paid for with those benefits homeowner has already been paying for. This is just an injustice to those little people who can't afford big attorney's If this does get read I truly want a reply. Otherwise we are going to fight to the end for what is the right and proper was to pay for the home repairs that keep building, because repair money was put on the Principle instead of sent back to client(Homeowner) for repairs on the home.If I have to shout it from the mountain tops so that all hear the fraud that Bank of America does to the people that file Insurance claims on their home. I am very concerned for others also because when I called talked with lawyer, he mention this had just happened to someone else. It COULD happen to you to. Don't trust Bank of America with your home loan, they will only try to make it look like it is your fault when it is their very own fault. I feel sorry for companies that think they have to resort to dishonesty to get their own needs met. No matter whom or whom it may hurt. This is truly a sad statement for Bank Of America.We WILL continue the fight!!!

Concerned mother and friend,


Product or Service Mentioned: Bank Of America Loan.

Monetary Loss: $3.

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If you knew anything about your loan you wouldn't be whining, you agreed to everything you're crying about! The ”mortgage crisis” is honestly more the fault of *** homeowners than the banks.

Moral of the story? If you don't understand the big words on the papers, DON'T SIGN THEM!!

to Learn to read Hallandale Beach, Florida, United States #699368

How the *** do you know what they signed? Your comment spews ignorance!

Funny how you write of understanding "big words" yet you type *** in your comment.

Worry about what you sign and not commenting on what someone else does! Troll!!


Do not sign up with Bank of America Home Insurance. They only insure water damage up to 5K, and the average cost of water damage in a home is far beyond 5K.

Most companies that offer home insurance cover water damage up to the maximum amount of the dwelling coverage.

What the heck is BA thinking? Consider this a warning, and BA has the worst home insurance policy on the market after getting 5 quotes and speaking with other well known companies.


I too have been screwed by the Bk of Am. I had a barn burn down.

I got a check from the insurance company for $15,250. I went through the correct procedures to get my money. They (Bk of Am)sent me a check for only $10,000!!!! I called them to ask what happened, they proceeded to tell me that they will not give me the rest of the money until I rebuild the barn.

It was an old barn, with not much value. They told me that they will not give the rest of the money until I rebuild since they had an interest in the property. So, I told them that I was going to refinance & pay off the loan (thinking that then they would not have an interest in the property & have to release the money).

They then proceeded to tell me that I still would not get my money back because it was Fannie Maes fault & that they were the ones keeping them from sending the money & wherever I would refi at would still be connected to Fannie Mae. I have found a bank that does not have ties to Fannie Mae, so we will see.....still in the process of refi-ing.


Same here.Back in Nov. 2011 had a small dryer firer most work is done from out of pocket little still needs to be done.BOA has been out did inspection and said it was complete and would issue check.

But now they are saying because of a modification that i have been going through for 3 yrs they will hold the check.

I refuse to mail check going to see lawyer.I have 2 contractors that need to get paid but affraid BOA wouldn't pay them.Don't mail check until you get right answers.STAY AWAY FROM BANK OF AMERICA!!!! :(


I am dealing with this too. BoA will not endorse my State Farm Insurance check.

I have faxed forms repeatedly, but they always have an excuse.

Very Frustrating. :(


I am in process of getting an insurance check that will be made out to me and BOA which I am backed up on my mortgage alot so I doubt I will be sending them it for endorsement after reading all these comments about them. It sucks because how else do we get these checks cashed because cashiers and banks wont unless they are endorsed


We had 3 feet of water in our home from Hurricane Irene flooding on August 28, 2011. We were issued a $10K advance check on October 3rd, which BofA made us endorse over to them.

They made me submit a W9 for my contractor so they could disburse the $$. I faxed them the W9 on November 3rd. It is December 28th and I just got off the phone with Property Claims department- they have everything they need to set my contractor up, but there is no progress.

I am several thousand dollars out of pocket just in cleanup costs and mold mitigation costs, and my home is still uninhabitable.

My experiences with the Property Claims department have ranged from the helpful and friendly to the ignorant, confrontational and downright rude.


I have been reading a lot of issues with BofA not signing/disbursing insurance claim checks. I had no idea how this worked, so I did some research on the internet and there were quite a few complaints about this process.

My home had a slab leak and there was quite a bit of water damage. For the actual repairs, the HO insurance co cut us a check for 18K.

After calling into the claims processing dept of BofA, I found out that they allowed me to have the check endorsed by a local branch. This was because the amount of the check was less than 10% of my remaining principal of the mortgage.


We had 33K damamge from hurricane Irene in August 2011. Our insurance check was written to us and Bank of America.

They sent lots of paperwork, but one said we could pay off the loan and they would send us the whole check; or they would hold the check until the job was done and give us money as the job progressed. We chose not to pay off the loan. They sent us $10K immediately (October) to start repairs and recently we had a BoA inspection and recieved $21K. The job was about +95% complete.

We have to send two pieces of paper to get the remaining $2k. The phone calls are a pain, but the people are nice and helpful.

If money is tight then working with a contrator can be a problem if want money up front. My wife and I were able to deal with the bank and contrator to get the job done.


Had kitchen fire recently work was done 95% like they said had to be done before signing insurance check. Was inspected by their people and approved.

BOA still refuses to sign insurance claims check and insists that we mail the check to them and they will dispurse it when it is approved. We did most of the contract work ourself due to not having money to pay contractor up front. BOA says since we did most of the work they will not pay us for that. They will only reimburse for materials.

They think this money belongs to them. They are crazy! They are frauds! They are robbing people and getting away with it.

What do we pay insurance for anyway? BOA needs to be stopped!!!


I am glad to see I am not the only one who is going through this.


Same problem! They want me to endorse my insurance claim check, send it to them and they will return it...right...I wasn't born yesterday.

They have several "hoops" to jump through as well.

State Farm already approved the work, and approved the completed project so now BOA needs to sign the check so I can pay the contractors! I fear they will keep my check on apply it to the mortgage - then how will I pay the contractors...sounds illegal to me!


Bank of America is pulling the same nonsense with me after my home was totaled by fire two YEARS ago! Each disbursement takes up to 3 months, a dozen phone calls and re-faxing the invoice several times. It's simply ridiculous.


they did the same to me i sent them the insurance check for 55.000 and they put it on the principal of loan and never got nothing .they are not good band to deal with.


I have been trying for months to get my insruance back form BOA so I can pay the contractor for the repairs. It seems there is always something else they want filled out and faxed in, then they seem to loose faxes. There are several forms I have filled out and faxed to them up to 4 only to call and find out they do not have them.

Think about it, if I could get people to send me any check they get for over 10K and then make it almost impossible to get it back. I could live great of the instrest alone. I have ask several times what is instrest rate they are making off my money, because I think I should get at least half of it.....

I closed my checking and savings accounts with them after a couple of times of them running my house payment through twice for the same month, then waiting 30-60 days to put the money back in my account after I cought them.


Our Claim was under 10,000.00. We overnighted check to BOA to get endorsed.

They said if we were current on mortgage, which we were, they would sign and return. Well, its been 4 weeks and they have made us fax them estimates, W-9's and waivers. Still no money and we cannot fix our damages. They said they will send out a dispursment.

We need the whole thing to pay the Contractor. It doesn't make sense.

It was our money to buy and replace our lost items and to fix our home. Don't know what to do.


Is there a class action suit yet to get insurance money back from BOA? This scares me to death. Have damage to my house from tornado and need insurance money to fix.


We have been FIGHTING with BofA for 9 months now trying to get an answer about our loan modification. We were told the runaround every time and finally took matters into our own hands. We sent an email to brian.t.moynihan@bankofamerca.com, he is the current CEO of BofA, and we got a phone call 4 hours and 13 minutes later regarding the email. We now have an assigned negotiator and should have an answer by next week.

I'll keep posted.

Good luck to ALL!!!

PS: his name is Brian Moynihan and his email is brian.t.moynihan@bankofamerica.com.

to Finally Getting A Step Ahead I Union, Illinois, United States #1226379

How did this work out? I am trying to find a proactive way to prevent all these horror stories.

Thanks in advance of an update!

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