Los Angeles, California

Can any business entities in America get way by lying to its customers, providing substandard services, while getting bailed out by the government? Yes, that company is called Bank of America.

Can any executives go to sleep at night knowing that their staff is un-ethically ripping off the people in need of their products and services, 3 years into the recession and 2 years into the bail-out? Yes, they work at Bank of America.

In October 2010, after learning about the benefits and reasonable closing time of the Make Home Affordable Program, my husband and I applied for a new loan. The program was designed by the Obama Administration to relief the cost burden for home owners responsible for properties under market value. We provided all the documentations required in a timely manner, trusted the banking personnel, and diligently followed up week after week. There went December, January, February and our 3 months cost saving opportunities. In response to our follow-up phone calls and emails, Bank of America staff excused themselves for being understaffed and challenged with internal communication difficulties. We were promised once and again by Bank of America staff that the loan was closing in mid February 2011. We authorized the bank to include our March payment within the closing documents and were expecting to close in early March. There came early March, after the Bank and us agreed upon a confirmed closing date, our loan processor contacted me to move the date by one week again. The reason was because there was a power down that caused internal communication delays. We were also informed that we might be liable for late charges for our March mortgage. Our experience with Bank of America up to day has been an extreme disappointment. It is not only unprofessional, unfair but also unethical for the Bank to ask its customers to absorb any cost that's incurred by the Bank's inefficiency and mismanagement.

The rules of doing business in America haven't changed across industries. When I purchase something less than my expectations, I expect to be greeted by a representative with a smile and a full refund. When I am offered poor services, I expect an apology with compensation for the positive feedback, and a promise that the service will improve next time. Business people in America work hard to build their reputation and prosperity. Bank of America has done nothing but bullying American people and delaying our economic recovery.

When I did an online search and found out that Bank of America and its Mortgage Refinance has high positive reviews, it gave me the chills. Of course the review was done by paid research companies. I just cannot sit back and let all the other innocent people jump into the trap like we did thinking that the big fat Bank is going to help us through this recession.

Product or Service Mentioned: Bank Of America Loan.

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Here are top 5 reasons why no one should deal with Bank of America - based on my experience:

1. Unethical business practices

2. Rude banking and client managers

3. Misleading their clients by providing false information

4. Lying about every step of the loan/banking process to trap their clients

5. A company that rewards its employees to be unethical and untruthful

Any ethical and professional Bank of America employee I have known has left the bank. Good for them! Shame on you Bank of America!


Tried to buy a luxury home in AZ using my Veterans Administartion benefit. I was in Afghanistan when I found the home online.

I sent my realtor to the house and she reported back it was a great house, but Bank of America required me to be pre-approved by their in-house lending department. I was forced to call them and listen to the *** pitch me while I was sitting on Skype in my tent located in a combat zone in the middle of the night. I told the guy where I was but it didn't phase him. I told him I was using my VA benefit and he tried to talk me out of it and go conventional with him.

Then Bank of America required to pull my credit report and pre-approve me. After all that hassle I made the offer on the house and Bank of America immediatley responded with acceptance of my offer at their asking price slamming me with all the closining costs and fees, unshared by them. I later found out the house has serious foundation problems. My agent tells me the bank would have known this because when they took custody of it in the foreclosure they conducted their own assessment and appraisal of the property.

No wonder they tried to talk me out of the VA loan, and into their own financing. First they waste my time while I'm deployed by giveing me a sales pitch for financing, second they pull my credit knowing the house has foundation problems, third they counter their own asking price by telling me I have to pay all the fees and closing costs and make repairs myself to get the house to standard. To make things worse I have banked with them for over 20 years. I am considering litigation because the house is still listed for sale and they are not mentioning the foundation issues I discovered.

Unethical greedy trolls will run that business to the ground. Don't trust them.


I beleive you 100 % on "stinky" practice from Bank of America. I applied to refinance the loan begining of December 2010.

I was scheduled to have it closed by end of February 2011 the latest. Time passed by, made numerous phone calls and follow ups to find out every time that something is missing. Other closing date was scheduled for March 11th, 2011. Bank of America already contacted insurance company (I paid for insurance) and changed the existing lender's name to Bank of America as beneficiary, valid date as 3/11/2011.

Today I found out after calling them, that my income do not qualify for the such of huge amount of loan ( only $195,000, but appraised home value $280,000). Only one spouse is applying for the loan (because loan originator said, one spouse income is sufficient, debt ratio not even 25% !!!

What dirty games Bank of America is playing with people ????