Mortgage Refinancing Nightmares: Bank of America | Rights Radio™ with Dr. Joyce Starr

Mortgage refinancing and mortgage financing nightmares courtesy of Bank of America. Does it get more appalling?

These mortgage horror stories were recounted on Consumer Affairs.

Julius of San Diego CA (04/03/09)
I live in San Diego, but do not own a home here. I wanted to purchase a home in Tennessee. I went online and started the BOA No Fee Mortgage process. A BOA representative called me, assured that I qualified, and submitted my application. I set a closing date for approximately 30 days out. I was assured that they could meet the closing date. My credit score is excellent, and I had already received an approval letter from another lender, but because of the possibility of a no fee mortgage, I went with BOA. Further, I already had an investment property in the same city in Tennessee; and I made that perfectly clear to the BOA employee who took the initial application.

Ultimately, Ms. Cory was assigned to my loan application. Over time, and in a timely manner, I provided her with all of the documentation requested. Two days before the closing date, BOA, via Ms. Cory, said that I didn’t qualify for the loan because I already own an investment property in that city. They withdrew the No Fee Mortgage and offered me another investment property loan at a much higher interest rate. Again, I made it perfectly clear at the time of my application, and stressed that BOA was my lender on the investment property. If they couldn’t execute the loan, they should have told me immediately. Consequently, I feel as though I have been victim of a bait and switch.

I put up $1,000 earnest money. I had to put up an additional $1,000 to continue the process. In order to make the next closing date, or lose my $2,000, I am now being forced to take a much higher interest rate (5.25 vs. 4.375) and loan is a 3 year ARM. The extra mortgage cost over the life of the loan, and the inevitable refinance cost could run in the thousands; not to mention the stress that I have had to endure through out the process. I want an attorney to contact me.

M. of Bowie MD (03/27/09)
I worked with an organization to have my interest rates lowered in order to have a reduced mortgage payment in July 2008. NACA negotiated a lower interest rate. Bank of America sent me the documentation in September 2008 stating this is my new interest rate, my new terms, my new payment which is to take affect in December 2008. I have had a mortgage since July 2007 and have never been late because Bank of America was automatically deducting my mortgage payments out of my account. When my new payment was to start in December, the old payment amount was taken out. Of course I got on the phone immediately discussed the problem, which also resulted in bounced payments to my other creditors.

I had to fight with Bank of America to get my money back but they have yet to give me my bounced checks fees back. I of course stopped my automatic debit until they can update my records. I have sent in my Jan – March payments on time (I have the processed checks to prove it). They have yet to update my account with my new payment arrangements. The people on the Loss Mitigation Team don’t know. The call always ends with me not knowing anything more than when I first called. They keep saying they are backed logged and don’t know when they will be able to update the system with my account information which to me is unacceptable. The last time I called (3/23) after speaking with 3 individuals, I asked to speak to a supervisor or manager who had the nerve to hang up on me when I inquired to when my account will be updated.

I received my escrow payment information which is still reflecting my old payment so the system is still not updated with my new payment information. Someone looked at my credit report and told me that it is showing that I am 60 days late paying my mortgage which due to their lack of responsibility is now affecting my credit rating. I am sick and disgusted with the LOSS MITIGATION TEAM AT BANK OF AMERICA. I don’t know where else to go/turn because no one else will give me a loan or refinance with my terms that I have with Bank of America and I can’t afford to pay higher than what I am already paying.

Kevin of Gainesville FL (03/26/09)
Bank of America accepted $45 Billion in TARP funds. Now they are not lending it out. I have perfect credit, no debt (except for a mortgage at 5% that will be paid off in 7 years, 2 years ahead of schedule), and pay my bills.

I wanted to expand a home equity line of credit (with a zero balance) by a very small amount so that I could invest in solar panels. I’d have the money paid back once the rebates came in, maybe weeks or months.

Our application was declined. First time in my life. They blamed it on my home’s low value, but their number was a lowball excuse to not fund loans. My home was just appraised at a value substantially higher than their estimate.

My complaint… Bank of America wants federal assistance because of their bad business decisions. They then do not want to fund those of us that are making sound and responsible decisions.

I wish that we could take back the TARP funds and let them crash and burn.

Just inconvenience. Now I cannot use my home’s equity and take advantage of the tax leverage. Now I have to initiate a regular loan-loan at higher interest with an individual lender.

Jasper of Elizabeth City NC (03/20/09)
BOA did not sit down and discuss what we could do to get back into my house.We have called BOA many times. They (BOA) received all required paper work to show how my job came to an end with Ford, but I am working now. My husband is disabled and has always been since dealing with BOA. BOA just need to work with people who have lost everything better.

I am not in my house no one seems to care.BOA received American tax payers money and don’t want to work with me to get my house back at reasonable payments.

Craig of Tulsa OK (03/19/09)
My home is currently mortgaged with them(NOT FOR LONG THOUGH)Myself and my wife stopped in and spoke with Amber R about refinancing for a lower interest rate,Amber explained to us that she could not quote us a rate without putting a $400.00 deposit down.She assured us not to worry because if they were not able to get a rate that we liked it would be no problem we would get our money back.

Later in the month we received our quotes in the mail,we were basically being offered the same interest rate so we decided to look elsewhere,though I called her several times I was only able to leave a message.I finally went down there and spoke with her she told me she did not recall saying what she said and told me I could not get my money back if I cancelled.Bottom line is the bank has not done anything for me to earn the money.It is to bad I trusted Amber on her word,I have learned a lesson there.I struggle to make things work for my family and do not have money to throw around I hope this can be resolved and I get my money back.

For now I am out $400.00 dollars and a great hassle dealing with it that I feel was took from me unfairly.

Craig of Tulsa OK (03/19/09)
My home is currently mortgaged with them(NOT FOR LONG THOUGH)Myself and my wife stopped in and spoke with Amber about refinancing for a lower interest rate,Amber explained to us that she could not quote us a rate without putting a $400.00 deposit down.She assured us not to worry becouse if they were not able to get a rate that we liked it would be no problem we would get our money back.

For now I am out $400.00 dollars and a great hassle dealing with it that I feel was took from me unfairly.

Kenneth of Micco FL (03/05/09)
My wife and I applied for a pre approved mortgage on 2/5/09 subsequently we were then approve for a mortgage on a property we liked. we were then offered and we accepted a 30 year fixed no fee mortgage plus loan for 64,000.00.we were then called and had to adjust the paperwork for a loan of 62,000.00 we the were toldto call and lock in our rate which we did and were locked in at a good apr 4.84% . we then went to the branch office where we originated the loan and faxed all of the required paperwork in to the mortgage office, We had a passing date of 3/5/09 which is today.

However we then never heard anything again we initiated contact with an unidentified person at the mortgage center who in formed us to fax again all of the paperwork in which I did, for the second time, I then learned that the person assigned to this loan a person named A. Martin Home Services specialist. This person was assigned this loan on 3/3/09 with a passing date of 3/5/09 After visiting their website to check on our progress as the closing date was only two days away me and our realotor were unable to contact anyone at the mortgage center by phone as listed in the online service or bye mail as it was kept secret by BOA all voice message boxes were full at the mortgage center including the supervisors as no one was answering phones.

I then went to the branch office where we originated this process and the branch manager could not get to speak with anyone either but suggested that we fax the documents again which we promptly did as the online site said we had to do as part of the process this being the third time. We already had acknowledgment of the receipt of said faxes by verbal communication and from a fax record (2). I then spent all of 3/4/09 on the phone and in going to the branch office and trying to get a human to talk to along with the branch manager who tried very hard to help us and kept apologizing for her company and stated that they are overwhelmed with loans and can’t process them fast enough I then told her we should have been told this up front and that the so called home services specialist should have called us to inform us of what is going on and to advise us of what the bank needed from us (as per their website mortgage application status )

As of this writing we have not been contacted nor have we been able to contact A. Martin who we learn from the Branch manager is unable to get to our case because of the large workload and not enough help as they laid off most of their employees in this department since the recession. As of now we are just awaiting word that we can close sometime and we are contemplating scrubbing this deal completely as we feel we have been lied to.

We can be fined $100.00 per day by the seller of this home for not passing as intended. I had payed a deposit to a mover for the move that will not take place in time and will lose my deposit if this is not done. If this does not go through I can lose my deposit of $1000.00 on the property. The mental anguish this has caused my wife and I.

Diane of League City TX (03/02/09)
I called BOA on January 8th, 2009 and was approved for a refinance with no PMI or escrow as long as we were at 80% LTV with our appraisal. We are not showing in a declining market. We heard nothing for almost 2 months from them and when they finally did call, they said our appraisal came in less than what we originally paid for our house 2 years ago. The starting price for our house is 6 grand more than our appraisal with no upgrades. Suddenly they added in PMI and escrow and told me that if I want to avoid it, I needed to pay 6,000 down. I asked them what the appraisal was based on and she said comparable sales in our area. The people that you call in customer service have no knowledge and cannot explain anything other than what they read on the screen. I was told that they could not review any other options in order to avoid the PMI that they wouldn’t touch it because it was considered flagged. So I had a take it or leave it option.

So here we sit. Both my husband and I have 750+ credit scores and pay all of our bills on time. If BOA hadn’t waited 2 months to call and tell us of the changes, I could have gone elsewhere in the beginning to secure a lower rate. They have since gone up and we are back to square one. BOA tells you what you want to hear and then changes it in the long run to where you have no other option. I will be surprised if I get my application fee back. When I told the girl I wanted it, she quickly placed me on hold, came back and said it would be refunded, told me to have a nice day and hung up. I have had my accounts there for 10 years, where is the loyalty? I don’t have it anymore, I’ll be changing my accounts elsewhere.

Greg of Gridley KS (03/01/09)
We found the home we live in in rural Coffey County Kansas. We purchases our house in June of 1995. We went to Bank VI (Now Bank of America) to secure a loan for the home. We chose Bank VI because of their advertised rates. We made application and was except for the mortgage. We found out during the mortgage application process that the house was in a flood zone and we would need to purchase flood insurance for closing. I had no experience with that so I asked the loan officer from Bank VI what to do. He said he had a ‘buddy’ that was an insurance salesman and he would take care of me. So I went to this gentlemen, purchased home owners and flood insurance. We closed on the house and moved in.

Several months later I received a letter in the mail that stated I was mistakenly sold flood insurance and that it wasn’t available to me. I pursued the issue with the insurance salesman and found out FEMA was the only one who sold flood insurance and that because my county didn’t participate in the FEMA plan that insurance wasn’t available. This was all communicated to Bank VI and the issue was dropped. Several years later Bank of America bought Bank VI and my mortgage. They sent me a letter stating I would have to have flood insurance and that if I didn’t buy it they would. I called every insurance agent in my area and several large ones in other parts of Kansas and no one could get me flood insurance.

I communicated back and forth with BofA and they went ahead with forced insurance. They couldn’t get FEMA to write a policy either so they purchased one from Lloyds of London at an outrageous price that was many times more expensive than the FEMA plan. After much going back and forth with me making my point that it wasn’t legal for them to place forced insurance when it wasn’t available from FEMA, I finally talked to someone in their legal department and they dropped the forced plan. The billed me for two years insurance but only refunded me part of a year. I thought the issue was taken care of for the life of the mortgage… After many years the issue has come up again and they have done the same thing again. I’ve showed them the rule about a lender using federal money is required to have FEMA insurance if available and it states that it is only required if FEMA provides it.

They have placed insurance that costs my escrow as much as my house payment AND taxes per month. This effectively has doubled my house payment and there is no way I can pay this ridiculous payment each month. The fact is I can’t buy flood insurance. If the lender and insurance company I originally worked with had not been derelict in their duty and I had know flood insurance wasn’t available I might not have bought the house. It is unfair to require me to pay for outrageous insurance from the likes of Lloyds of London for my home. And as another note, the people I bought the house from didn’t have flood insurance and they had a mortgage through another bank. Thank you for your time and I hope you can assist me.

I have spent enumerable hours working and fighting this. And I was never reimbursed more than $1300 from the first go around. And now I’m being charged extra ‘fees’ besides the insurance.

Tiffanie of Plainfield NJ (02/27/09)
I purchased a home through Bank of America in July 2007. Bank of America along with the title company I used told me the taxes on the property were 4,395 a year. I agreed to the payments and my taxes were escrowed off that number. Eight months later Bank of America sends me a lettter increasing my monthly payment due to escrow shortage. This had increased twice after the first letter making my payment Almost$400 more a month.

I researched this problem and called the city about the TAX INCREASE THEY INFORMED ME THE TAXES WERE NVER 4,395 THEY WERE 6,100 IN 2006 the year prior to me buying the property. The Bank and title company claim the called the city and were told $4,395 and that was the amount I signed on my closing documents. Now I am in a financial bind and to to get out of this.

I would never have purchased the property if I had the correct tax amount due to closing.

Michael of Rutledge GA (02/24/09)
Bank of America took over Country wide in nov 2008. Now all of my invoice are mail past there due date, so they are allways late. They are adding double late fees to each invoice. I cancelled optional for life insurance and they refuse to remove it and stop charging me for it. This insurace has nothing to do with my loan.

doulble late fees, overcharing me for my mortage.

Gwendolyn of Oakland, CA (02/24/09)
We have been in contract with a realtor since December 16, 2008. The Bank of America was chosen as our lender. Since December we have been received less than adequate service which has caused unbelievable delays and threats from the realtor of keeping our $10,000 deposit.

The Loan Center has changed our contacts several times; we canonly contact them through extensions from which we never receive a call back. Today February 24,2009 I called the Loan Center adn was told by Eleazar all previous agents were out ill, Karen Middlebrooke, Rhonda and Mary Rivas. There was no one familiaar with the loan that could give us yes or no answer.

Eleazar repeated all the additional needs of the loan only to find all these had been satisfied a month ago. He then stated the loan would not be approved because of an income analysis he noticed on our tax form for 2006 and 2007. I was shocked because the first of February I was told the loan had been approved and needed only item satisfied.` Then it became two and then it became three, etc. and now Not Approved. This is gross inefficiency and incompentency. The Bank of America is causing undue anxiety and the possibility of ourlosing our deposit made to secure this property.

Chad of Mcgraw NY (02/23/09)
Our mortgage went from Standard Federal to Lasalle to Bank of America to GreenTree. This was in about a 10 year span. GreenTree bought our mortgage back in October of 2008. We have received our tax interest papers from them, but not for the eight months from BOA. We have tried for 3 weeks to get the paper work and they can’t find where we have made any payments to them. Actually, they are telling us that they have no record of our account and that we have been removed from their computer system. They seem to have all sorts of information about us except payments. We have access to canceled checks, but made payments with a payment book, not statements. Therefore we have never had monthly statements to verify total amount paid or interest or anything. We’ve contacted the IRS to let them now that we are unable to do our taxes. The phone numbers for Standard Federal & Lasalle all go to BOA.

We are unable to do our taxes. We have spent several hours on the phone. We are ready to get a lawyer to straighten this out. We have no idea how much we have paid on the mortgage or even if the ending numbers are correct.

Carol of Hendersonville NC (02/19/09)
In March, 2007, I was approved for a Home Equity loan (applied online) through Bank of American for $165,000, the entire appraised value of the property with nothing down and no closing costs. I intended to use this as a bridge loan for the modest 1,400 sq. ft. home I was purchasing and believed that my condo would sell within a few weeks. The bottom fell out of the real estate market and I am still sitting on the condo. The monthly loan payments were $1,464. I was working a retail job and my take home pay was always less than $1,000 per month and at times, less than $700 per month. I did not receive copies of my closing documents when I closed the loan at my local branch.

Bank of America has dragged it feet on the foreclosure and now I have R.E. taxes that are delinquent. During this entire thirteen month period since my last payment, I have not received a telephone call from Bank of America. At one point, I thought I was going to get an offer on a Short Sale and telephoned them daily for two weeks. I left frantic messages each day requesting assistance on how to proceed if I receive the offer but never received a call. I asked if they would work with me on the taxes I would owe after the short sale but was informated that they would not.

I have received the first letter from Bank of America stating that I am in default (13 months later). I feel that some action or investigation against Bank of America should be initiated. I have contacted every agency possibly and have gotten nowhere. I have also contact elected officials for my State without a response.

Victory of Bowie MD (02/12/09)
I have carried my mortgage with Bank of America for three years and it has never been reportred late. I recently changed my account over from being drafted once a month to 4 equal payments a month to cover the full mortgage amount. I was told by the rep that they would start 2-4-09 and every week after that to cover the Feb. payment. After hanging up I realized that the last two drafts would post after the due date. I called back and was told by another rep to come into the branch and make a a partial payment to cover the last two drafts of the month. This would pay my full Feb. payment before the 15th of the month, within the grace period.

I went into the branch and did just what I was told but my payment was refused because it was a partial payment despite the note made in the system by the mortgage department. I waited 45 minutes while the branch employee and the mortgage department cleared the issue over the phone. As a so called courtesy the mortgage supervisor ask to speak with me to inform that my payment that would draft in Feb. would be denied and sent back to me because they could not draft 2 of the payments in Feb and 2 in March to caover the March payment even if it was before the end of the grace period. I asked, Deny my payment? That is crazy! She replied yes sorry there is nothing we can do. She said I would have to pay the same amount I had just paid to have it be accepted.

I asked for her next 3 chain of managers and she refused saying she could only give her supervisor’s name and I would have to get that info for that supervisor. I am still waiting on a return call hours later. Bank of America is forcing my payment to be late by denying it. It will be reported to the credit bureaus late and I will be charged a $84.00 late fee by BOA even though they are the ones refusing the payment both in the branch and over the phone.

Debra of Marysville WA (02/05/09)
I orginated a refinance of my first mortgage on a home located in Gresham OR with Mr. Hernandez. I provided a mailing address for the paper work however the paper work ended up going to the address of the property to be refinanced in Oregon instead of my residence in Marysville Washington. Furthermore, the loan paperwork that was sent had the wrong address for my property. I immediately contacted Mr. Hernandez and told him of the probblem. He stated that he would take care of the issue. Several weeks later I again received refinance paper work at the wrong address and again with the wrong address for the property to be refinanced.

After serveral attempts to contact mr. Hernandez by telephone and e:mail I gave up and contacted B. Evans in the loan processing department. He looked up the paper work for me and stated that the information for the property address was still incorrect. After speaking with his supervisor they agreed to take care of the problem in their office to prevent delay of the loan however, it wasn’t their responsibility to do so. This isn’t the first time I have had problems in dealing with BOFA and is the primary reason I refuse to do my banking with them.

Fortunately, due to my efforts to follow-up directly with the loan processing branch as opposed to Mr. Hernandez, the loan may be delayed only slightly however, the jury is still out and the revised paper work has not been received yet. I wanted to file this complaint to send a clear message to BOFA and alert the public of BOFA buisness practices.

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Kevin of Dallas TX (02/03/09)
We have had mortgages with BofA since we bought our first home. We stayed with BofA when we moved to Texas 2 years ago. Last summer our property taxes were adjusted and our payment went up 1200.00 per month. We contacted BofA and were sent to Loss Mitigation to have our loan modified to lower our payments. The loan was modified from a 30 to 40 year mortgage and we had two payments deferred when all was said and done. We recently started working with a real estate firm back in California to begin setting up a home rental because we are moving back once we sell the house in Texas. We were informed we are 18,000.00 in arrears with our mortgage and no one will touch us as our credit scores dropped from 700 and 689 respectively to 400 and 370 as a result of BofA.

They have been allowing us to make lower payments but have been reporting us as not meeting our monthly obligation AND we that we skipped two payments. Remember, we were supposed to have two deferred payments. When I contacted Loss Mitigation and BofA they claim we agreed to all of this and that’s what happens when you modify your loan. WE NEVER agreed to this and now we can’t even rent a place when we sell the house! We have spent collectively this week over 10 hours on the phone with no resolution from BofA. We have never received one piece of paper from BofA and we never signed anything agreeing to these terms. How can they do this without a signature or a contract of some form?

When I call I get someone sitting at a computer that can only answer basic questions from the information on the computer. They have no knowledge of Loss Mitigation or our loan so they claim they cannot offer any answers. They also tell me that I have to wait for an advisor to call me. I can’t be connected to one after sitting on the phone for hours. I have to wait up to 2 days for them to call me. With things the ay they are I may never qualify for buying another home but if I do I will never get a mortgage with BofA. Billions of tax money to bail them out and they get to turn around and destroy the very people paying for their bailout.

Our credit scores have been destroyed by BofA’a actions and we are seeking an attorney to move forward against BofA.

Cheryl of Kansas City MO (01/10/09)
The article I just read stated BOA is starting to help homeowners with modifications. That is a lie. I have called them about my fraud mortgage with them and they will not even return a call. BOA is modifiying loans of Countrywide ONLY BECAUSE THEY HAD 400,000 LAWSUITS AND HAD TO SETTLE.

I have been with BOA over 10 years and they used to be quality and now BOA is greed and quantity.

BOA gives customers loan that they cannot repay and then forecloses on customers.

BOA tells you you have a Fannie Mae loan and you find out at closing BOA never intended to give you a Fannie Mae Special Program loan.

BOA has not had to answer to any regulations and when they do on my form they committed fraud by telling a lie about my loan information.

My closing loan documents which I was refused the day before to look at were back-dated and not signed by BOA. The Deed of Trust is one date, the Note is back-dated, the rider was blank, final application back-dated.

I think I will write a book about my experience with BOA fraud mortgage.

BOA has gone way beyong the bounds of decency with me. I am older disabled single women and they prey on older people. BOA ruined my credit and put bankruptcy/foreclosure which is a lie. People do not know BOA had secondary wholesale depts. in Dallas and Florida. They had so many predatory lending they closed them this year. But it is coming out now. I believe what goes around comes around.

Jen of Stockton CA (01/05/09)
I had to add this: I’m fearing losing my house now due to B of A’s mess-up. My parents are on the loan with me and my mom got her WaMu lay-off notice that will be effective 9/30/09. I was prepared to tackle a large $2,020 house payment on my own until she finds another job. Now my payment is $2,400 nearly because B of A didn’t calculate structure taxes into my loan, just land taxes.

Now, a year later, B of A says there is insufficient funds in our escrow account to cover the structure taxes. Well, its obvious there is becasue they NEVER told us that structure taxes weren’t included for that first year. Legislatures need to take a closure look at these financial institutions with high foreclosures. I do not have an ARM. I have a fixed loan. But now I fear falling into the forclosure status because of B of A and their mistakes. This is what my mom was told over the phone well we made a mistake becuase it was a new home. the county tax accessor sent different statments to us. You (meaning my mom and I) need to call the county tax accessor to see why its so high. The answer was right there!!! we meaning B of A, made the mistake. Not the county!

fear of foreclosing due to lack of knowledge within the B of A mortgage department.

Jen of Stockton CA (01/05/09)
I bought my first home, brand new in 2007. Escrow closed late September 2007. I was told at the time of doc signing that the payment is exactly $2,020 for the first 10 years, impounded loan of course. So far so good, right? Wrong! Dead wrong! So everything has been cool so far. I paid my taxes in full for the first part of 2007 as I was told that during the course of getting the loan closed. I paid nearly $3,000. I was thrilled to get that out of the way.

So here it is, January 2009. I received a noticed from B of A that my loan payment is now close to $2,400 each month due to insufficient funds to cover last year’s taxes. I paid them, is what i’ve been thinking! B of A is saying that I was only charged by them for the LAND and not the structure. So now i owe over $4,000 for a structure that i thought i was paying on the whole time???!

B of A employees, especially mortgage employees, do not have their heads screw on tight. They are the worst ever. They do not like to communicate with people, other than letters in the mail so surprise the crap out of you that your loan is sky rocketing because them failing to inform you that for the first year they are only including land in the taxes. I’m sick of it. I’m sick of them. Don’t waste your time. They are rude, and worst of all… dont’ speak English, which makes communication horrible. If I would have known that the following year after closing I’d be charged more for taxes on the structure I would have said no to the loan and walked away. But I didn’t. They made me believe that ALL taxes would be included, not just land. Glad I don’t have a checking account with them!

I have to now pay almost $2,400 is this already weak economy when i was supposed to only pay $2,020 each month for an impounded loan.

Gail of Madeira Beach FL (12/31/08)
Rude treatment, inaccurate information, refusal to handle and resolve customer issues, false statements against a real estate broker, unprofessional behavior causing customer to cancel mortgage loan. Affected my ability to earn an income as a real estate broker.

John of Macon GA (12/10/08)
In short, Bank of America advertises products they have no intentions of giving you in this economic climate. For example, home equity loans are just marketing. I am going to save you some time. DO NOT WASTE YOUR TIME IN APPLYING FOR ONE OF THESE LOANS. THEY WILL COME UP WITH EVERY REASON TO TURN YOU DOWN!!

I recently had two friends who have good credit (675 and above), own the properties FREE and CLEAR, and low debt to income ratios (between 36 and 43 percent). The first person was turned down because after giving the bank all the required documentation, the middle initial on the application that the bank rep. took was different than the persons driver’s license and therefore the bank said they were trying to commit fraud. BofA told them they could try to complete the application again but that now it would look suspicious and would probably not get approved.

The second case involved a women who was told that she had to add her husband to the application to get the loan. She did and they told her a new application was needed because he was never on the application. She said ok. BofA was very discouraging and told her it may not get approved because she should have shown his income, which they stated it looked as if she was hiding family income from the initial loan because he wasn’t on the loan and it most likely will not be approved…incredible!!

Jennifer of Bristol PA (12/05/08)
Have contacted customer services about get loan extended and asked for forms on three occasions, never recieved, and have been told that it was not noted on my file that I applied for the extension, On Friday the 5th of December I recieved an Act 91 notice. Seems they have time to get that right, when they forclose on someones house it gets here certified and everything. But when someone needs help it doesn’t get fixed!

My house will be forclosed on if I don’t get this resolved!

Robert of Holmdel NJ (12/03/08)
I am complaining about a Mortgage Loan that I paid off in full with a check for $$36,427.76 for my son and dusghter-in-law. I have never received any acknowledgement that my check was received, and my son has not received the title to the property, nor as far as I know the title to the property or any formal acknowledgement that the loan was paid off. Is this the standard policy of BOA? Is it normally expected that the mortgage holder has to seek out the title?

And where should he do this, and why was it not simply explained to him in a letter acknowledging the payoff? I would like to have your explanation as to whether I am being overexpetant in assuming that the bank would provide the title to the property once the mortgage loan is paid off. I would like to know to whom I can express my dissatisfaction over the time that I have had to spend in straightening this out, even though it still apparently is not. Your on-line telephone numbers have been essentially useless, with epople who either cut me off or forwarded me to telephone answering machines. .

Marcie of Lynn MA (12/01/08)
My parents decided to purchase a home in Florida. I called and they both got approved for $170,000.00 loan. The house is $150,000.00 This was back is September. My parents got a APPROVAL letter for $170,000.00 loan as well in September. Well paperwork kept on going back and furth for weeks. And then just a few weeks ago everything starting going wrong. The representative would ask for documents randomly instead of all at once costing me money faxing the documents and mailing them over and over again. The property we were trying to buy was a foreclosure AS IS so obvously we knew the condition it was in. All it really needs is new paint, new carperts, fix a window and place cabinets in kitchen.

Well BOA decided (even though they are denying it) that we had to get the cabinets finished and fix the window before loan approval. Then they needed our property in Mass to be 30% of the one in Florida. Then in November they tell us that they can only approve my parents for a $102,000.00 loan with a huge $57,000.00 down payment. Yeah Crazy.

So today December 1st 2008 my mom told BOA and the representative that the deal is off! They are closing all of there BOA accounts and will never mention their name to anyone. My conclusion is that in this particular case I think discrimanation was used. My mom is European from the Azores and is a US Citizen her husband is from Central America from El Salvador and he is a Green card holder. If BOA thought that non us people can’t have $70,000.00 saved of hard earned money boy are they wrong. My mom’s husband is an executive chef at a restaurant in wich he makes over $62,000.00 a year.

So if you do your math how can BOA not approve the $170,000.00 like they originally did? All I can say this has been the worst experience in my life and my parents. This is actually a small version of the situation. Consequences is that now we are back to step 1 again with a new mortgage company and since the seller has been waitting since September they are about to back off the deal. And we will loose the property.

Petar of Sacramento CA (11/13/08)
Bank of America is my mortgage company and they were repeatedly late on my property taxes. The fees are up to almost $250. They delayed payment, they sent a bad check to the accessor and I am left with the bill. I faxed and mailed them repeatedly and they ingore me! This has been going on for well over a year!

Also I increased my payments to pay off my home in 20 years and they wrote me saying they updated my records but failed to update the maturity date to 20 year and left it at 30 years. When I wanted to decrease my payments back to the 30 years they claimed that my 20 year weekly payment was my 30 year even though it is $400/month over my original escrow agreement. I am frustrated and don’t know what to do! Please help!

Impact is about $250 in tax penalties from the accessor in late tax payments, and bad check fee sent by B of a escrow. Also $400/mth in mortgage fees. Also countless hours of calling, faxing, and mailing Bofa and getting no response.

Christian of El Dorado Hills CA (11/04/08)
I have a second deed of trust with Bank of America on my home mortgage. My loan was on review to try to rewrite the loan due to a medical hardship. They recieved and said that they would get back to me. Today I opened a letter from them saying that they have sold my loan. After 3 weeks of waiting to hear from them. What can I do?

Barbara of Blountstown FL (10/27/08)
On December 18, 2006 we purchased an older home with Bank of America. They had the home appraised at $105,010.00. The home was in much need of repair. We purchased it for $52,000.00. Our payments were $496.00 a month with the taxes and home owners insurance we purchased escrowed into the payments. Well to cut the story short they let our home owners insurance lapse and force placed $13,000.00 insurance on our house. They never payed the insurance or the taxes, and raised our house payments to $2,120.00 a month.

Well we are now in foreclosure. But they admitted it was a discrepancy on them and not a defiency on us. We have been fighting this on our own. The Judge even saw the problem but can’t give us legal advice. We have been to court twice now. Both times it has went in our favor. Last month the judge still did not award them the house but the very next day after court Bank of America hired a lock company SAFE-LOC to enter the home and change all the locks on the doors. They did and it still is not their property yet. Then they gave the keys to another guy they hired to cut the grass he entered the home and started removing the contents in the home.

We are scheduled to go back to court November 5, 2008. We tried to get a no trespass warning against them to no avail. I called the Comptroller of Commission and they said I have a case and gave me a case number due to them messing up the escrow. Please someone help us what can we do?

They have truly destroyed our credit. We used our intire savings to make the home liveable. Now because of them letting our insurance lapse we can’t get insurance on the home because we couldn’t afford to put siding and a central heat and air unit in. That is what the Floira of Commissions told us before we could get insurance again.

Val of Grass Valley CA (10/23/08)
I’ve spent 3 months attempting to have B of A help me with avoiding foreclosure. I arranged for a seller to assume my loan and asked for B of A to help me with modifying the demand amount and a creative sale process. No one will respond to my calls or give me assistance in a creative sale process.

I am about to lose the buyer due to not being able to arrange a loan modification from B of A. I could have avoided a foreclosure, been responsible for my debt and helped B of A recover their losses but they don’t seem interested in this solution.

Carolynne of Hercules CA (10/15/08)
these companies are my mortgage lenders.I tried contacting them to work out a possible solution on my adjustable rate 1st mortgage and 2nd mortgage w/ 11.6% rate. I am already in negative amortization despite my monthly struggle to pay the minimum amount due. I don’t want to go into foreclosure so I contacted them to try & work out an option. No response from these lenders. I guess they will only entertain homeowners who are on default instead of trying to work on preventing foreclosures.

Mortgage rescue is not happening to those who really needs it. The whole bail out is only for the the investors/ financial institutions and doesn’t really get to help the masses or ordinary americans like us who pay our taxes.What happened to the american dream?

Johnny of Norman OK (09/30/08)
In September of 2008 it became aware to me that I would not have enough money in my account to cover my upcoming mortagage payment which was okay because it was on an automatic withdrawal. I called bank of america and ask if the payment could be stoppped and they informed me that it could not be. I explained to them that I the check would bounce if they could not stop the payment or at least postpone it for two days which when the next deposit was due to hit the account. They of course made it sound like an impossibility.

So, the check hit the automatic deduction hit the bank and was return. I called bofa and was told the payment would not processed again. So, I sent in a payment for the mortgage. Well much to my surprise the payment was processed along with the payment that was not suppose to process. I called bofa and informed them of what happened and said things would start bouncing all over creation if the funds were not returned here is the kicker…they agreed to return the funds. But, when I checked my account they had not returned the funds and I had accured almost $600 in returned checks and fees.

I called bofa and asked why the funds had not been returned. They said that the mistake was mine so they had reversed their decision to return the money. I said it would have been nice if you would have notified me by email or letter that the fees would not be reversed and I could have made other arrangements to cover any delinquent amounts. They still hold themselves blameless and refuse to return the fees.

Well this is my last go round with big bank america. I will be switching to a local bank and warning all I know and don’t know to stay away from BOFA! – about 20 returned items at @ $35.00 a piece. Absolutely no money left to pay the rest of bills, groceries, etc.

Kevin of Forest Knolls CA (09/24/08)
They stole $915 from my checking account by adding $10 to $20 to our mortgage payment so I did not notice it. They officially said it was taken from escrow and returned to escrow when they received proof on insurance. We have no escrow account! It was never returned to my checking account. Our contracts says they are to take a fixed amount for the mortgage and no more. This was 3 years ago. On top of that they loaned us $175K on home equality.

We now owe more that the house is worth but it has not gone down in value. They did not tell me the payment would me more than I make so my account went negative. Now I have to drop my wife and a child from health insurance to give a $600 buffer since both mortgages are more than I make when the interest was higher.

That money was my buffer. My account over drawn and had penalties for that. It has causes much stress and depression to me and my family and relationship.

Brenda of Camp Verde AZ (08/11/08)
I have 2 loans, a large one at $700 per month and a small one at about $5 per month. They both are on automatic withdrawl. I decide to take them off automatic because I like to pay early. I called Bank of America. I tell them, take the LARGE loan OFF automatic withdrawl. And, I want to make sure it doesn’t effect my interest rate. They said no, it would not effect the interest rate. They also said, would you like the small loan to also be taken off automatic? I said sure. The next day I go into the branch two weeks early to make the payment on the big loan. I hand the oriental teller who had trouble with English, my check for the $700 payment.

I explained very clearly, very adamently, it goes to the BIG loan, the one with the $700 payment, NOT THE SMALL ONE WITH THE $5 payment. She smiled. She went to a machine and came back, saying it was taken care of. I said are you SURE it went to the BIG loan? She said, yes. I said, DOES IT SAY IT IS NOT ON AUTOMATIC WITHDRAWL ANYMORE? SHE SAID YES!

A week later I get a notice that my small loan had been reduced $700. So, this moron naturally did it wrong, despite my trying as best anyone could to get her to understand me. I run to the bank, and talk to the manager. He gives me that attitude that I must not have explained it well enough and did not offer to talk to the moron teller. He made a call and got the payment switched to the correct loan. I ask him, ARE YOU SURE IT’S OFF AUTOMATIC WITHDRAWL? He said, yes!

A week later, I get a notice of non sufficient funds and some fee, because they tried to take it out on automatic withdrawl. I called the manager. He acts like I wasn’t clear enough. Why would I give him a payment of the exact amount of the payment that is due on the big loan, make sure it goes to the big loan, ask him now are you sure it’s off automatic, and he misunderstands and thinks Im talking about the small loan? He said he’d see what he could do about it and call me back.

Never got a call back. On top of it, he tells me there would in fact be an increase in my interest rate by taking it off automatic. Got a $35 late fee and caused much anger and frustration.

Andrew of Avon CT (07/29/08)
I applied for a line of Credit with BOA back in June. Steve had done my first mortgage and it was such a smooth process that I decided to get the LOC. I had made it aware to all parties that I had recently started my own company thus I did not have much history on my company specifically 2 years of tax returns. I was told within three 3 days that I was pre approved and there should be no worries, and I should be closed within a couple of weeks. I later received a call from a call center employee stating that the process may take 6-7 weeks do to back log and the need to get a an appraiser out to the house. I was a bit frustrated but understood that there may have been some miss communication from the field office.

About a week later I received a call asking for my previous 2 years business tax returns as I was self employed.THIS IS SOMETHING I HAD TOLD THEM GOING INTO THE APPLICATION PROCESS. I told the woman that this was impossible but was willing to disclose assets or other proof of collateral. She said to call back in a few days to check on the status. I called back the second time and I do not think No in fact I am certain that my previous conversation was not documented. I then received a letter in the mail stating that I needed to disclose proof of tax returns per my first conversation. Again as my business is new I could not provide this information. This scenario went on 2 more times and I never go the same answer twice. It appears that the left hand does not know what the right hand is doing at their call center in Farmington, CT.

Steve Vernosi and his crew did what they could an I cannot blame them. I also cannot blame the first line of call center employees. I think that the fault here is that the process put in place by BOA supervisors in the call center does not exist. I also get the impression that my application was sitting on an underwriters desk for a couple of weeks My frustration here is that had someone explained the guidelines clearly up front the first time I would not have had to wait 7 weeks to get rejected.

This was a waste of my time. If someone had told me upfront what their criteria was, I would not have wasted their time or my time. The process was exhausting, frustrating, and at points maddening. It is a shame that an institution this size cannot get its people on the same page and properly trained to give REAL customer service.

Kathryn of Tampa FL (07/28/08)
BOA approved my refinance, however, 75 days later, weeks of tormenting emails, phone calls and accusations, BOA denied the loan stating my second home was a rental property because my daughter was staying at the home over the summer during her college break. I offered my income taxes to prove this home was a vacation home since 1999 in my family, however, I only recieved negative feedback from them and a rejection later 1 day before our second closing was scheduled.

Distraught, I sent an email requesting the refund of my application fees. I was sent back a harrassing email that was distributed outside of BOA, to recipients unknown to me, from the mortgage loan processor, making a joke of how he copes with customers like me at work. Stating he needs to be on Ecstasy.

BOA did not refund my application fee as required in the terms of the BOA agreement. The harrassing email included my outlook contact information which was sent as part of 10 other addresees, not BOA employees. BOA sent my confidential information out to non-BOA addressees without my knowledge or consent, in an attempt to harrass and humiliate me.

Cheryl of Kansas City MO (07/26/08)
Why won’t Bank of America help their own customers with modifications?? I have a fraudulent mortgage loan with BOA and they will not help me and I have read other articles that they will not help others either. I did read that BOA was going to help Countrywide homeowners and I think that is great but why will BOA not help their own?????

Kevin of Burlingame CA (07/16/08)
My Annual Flood insurance was required by the bank at liability level of $222,600 for my house. I found difficult to understand why I had to increase the liability from $202,400 (last years level) to$222,600 on property that lost value during the previous year. Oh well you cant fight the banks so I increased the policy over last year to their required level and forwarded copies to Bank of America. This policy coverage was for one year dating from 2/22/2008 and expiring on 2/22/2009. This was done in March after I found out I need to do the increase. I received a confirmation letter on April 11, 2008 acknowledging my compliance.

In May they stated I needed to increase my levels even more. I do not feel it’s ethical to request additional insurance levels after I have complied and have a current and active policy. I do understand when the policy comes up for renewal I would be required to pay the required increases. So according to my Flood Policy Declarations Replacement cost is 184,000 and per the bank requirements I put the additional $20,200 in coverage. And then one month after the compliance letter they requested an immediate increase of $27,400. I feel a 23% increase in a two month period is unsubstantiated especially with the property values dropping daily during that time in the double digits.

Please advise me of my rights and if possible a contact to discuss why I am in the highest risk zone under FEMA. The only flooding in the past thirty years was when the sewer system failed (25+ Years ago) to keep up with the new construction in the hills above my street. Since then millions of dollars of work has occurred and now have and updated system. During the seventy six years my house has existed there has not been a claim nor needed a claims. This destroys my cash flow every year being required to pay $1,400 in flood insurance and I only pay $1,200 for fire and hazard insurance at higher liability levels. I feel this is a gross abuse of a government system and I would like to know if I have any chance of fighting this.

Additional 143.85 on top of current insurance level premium of $1,279.00

Valerie of Dallas TX (06/05/08)
I explained to the BOA agent that I was calling about a letter we received which was drafted on May 27, 2008, eight days after our insurance agent had contacted them about a previous letter. The previous letter stated that BOA had not received a copy of our Homeowners Insurance Policy, and that it needed to be submitted right away. I called our agent (State Farm) and spoke with Jean. Sending the renewed policy is a matter of procedure for them, and she confirmed that it had already been sent, but that she would fax another copy to the number indicated on the BOA letter.

Weeks later, we received another letter from BOA stating that they still had not received a copy of the policy. I called State Farm and spoke with Jean. She said that not only did she fax the policy on May 19, but that she also called to follow up to be certain it was received. She spoke with a Ms. Chant, who claimed that the information had been entered in the computer. So I elected to call Bank of America myself to try to get to the heart of the problem. I explained the history in the way it is described above. I was speaking with an agent named Sonja. When I told her that Chante told the agent that the information was in the computer. She replied I dont know why she said that because it can take 24 hrs for a fax to be entered into our system. She added, we receive and send so many faxes that a lot of times they get lost. Theres so much things get lost.

I mean, this is what BOA DOES receive and process information. Our private information, scattered to the winds, not once, but twice now, within the confines of BOAs offices. After I was assured that Sonja would take care of the problem, I was passed on to a survey. I was on hold for eight minutes waiting to be connected. When I finally was, I was asked by recorded message to enter the five-digit agent number. I was not provided with a number! The call then disconnected after saying thank you for your feedback.

So I go on the web and there is no Consumer Relations department in BOA. There is no recourse, other than to go through the incompetent channels weve already traversed.

A car loan we once had with BOA was paid off before we ever received a payment book (I believe it arrived two months prior to the payoff month of the loan and we asked repeatedly for it to be provided) and dont even ask my husband why he doesnt have a debit card with them. This is the worst bank Ive ever dealt with in the competence and customer service arena.

No damage as yet, but the most recent letter did imply that BOA would begin to charge their OWN insurance fee if the information was not received within 28 days of the date of the letter (to the tune of $516.)

William of Gilbert AZ (05/17/08)
I was in underwriting and had been approved by a local Arizona Lender for a 95% LTV loan at 6.5% 30 year fixed. I called a NH Bank Of America loan officer, just to shop and they (Jamie) told me that the loan that I was getting ready to close on was paying 2% back to the broker and charging me for it. (This was not the case I later found out) Jamie from Bank of America told me that BOA does not charge back end to their customers and if I gave her my business they would put me in a 95% LTV, 6.375%, 30 year fixed NO MI,lender paid closing cost loan with 1.57% in points only. Jamie sent me the Good Faith Estimate, submitted my loan and told me that was it. I asked her what else I need to provide and she told me that with my good credit and history, just my drivers license number and expiration date. I thanked her for wonderful service and called my local loan broker and told them I was withdrawing my application and going with Bank of America. They were very upset with me and stated that I was set to close and had already received clear to close commitment. I told them I didn’t care, Bank of America was giving me a better deal with NO Hassle.

A few days later, in the mail I received my Bank of America disclosures and commitments. I called Jamie and asked why the loan commitment showed a 90% LTV approval. Jamie from Bank of America told me that, I might have to pay 10% down because I could be in a declining market. I told Jamie that I had already been approved at 95% with a local lender. Jamie explained that it will be off the appraisal. My appraisal had already been done. Both my appraisals had been valued at purchase contract price. I objected to the deal and Jamie said she would take care of it, not a problem. She changed my loan on-line and sent me emails saying the bosses were aware and it would be fixed. Jamie asked me to put at least 5% of the purchase price in a Bank of America account. I did that within an hour of her asking me to.

Days passed, I inquired, nothing. Her Boss Derek Sawyer the sales manager for Bank of America loans called me and said he would personally take over the loan and see that it got done right. I never got a call back from him within 24 hours like he said he would. I sent him an email for an update and within an hour I had a phone call from Jamie again at Bank of America apologizing to me that the bank guidelines were for my loan to be at 90% and there was nothing she could do. Jamie said that she could call a local branch in Arizona and see if they could do a 95% FHA loan for me. I asked her to send along all the guidance she had received from above her and I would be following up with legal process

Well, first…I’ve been called to active-duty deployed on the US/Mexico border. I needed to have my family in a home and mortgage that did not require such a large upfront payment. I have had sleepless nights when I should be getting my rest for military duty because I was stressed out about this loan. The stress of having to put so much cash into a loan that I was not sold in the first place is unbearable. This was a bait and switch deal. I have the 95% GFE from BOA and emails to prove it. I have the documents from the other Lender proving I was closing on the 95% LTV loan with them. I have email conversations that outlines, Jamie telling me that the other loan was a bad one and I should go with her bank, Bank of America.

My wife is beside herself that we have to empty our saving account and we still have to move across country at our own expense and were suppose to buy another car. I’m leaving for Iraq again soon and we will be in financial hardship because I was told and sold something that was not delivered and I believe Bank of America Mortgage Employees deliberately defrauded me into using Bank of America, by lying to me, providing official loan documents that were fraudulent, keeping the Official BOA On line Mortgage Tracker showing my loan closing on a 95% LTV loan all the way to the end. Bank of America representatives used inaccurate, false, and fraudulent efforts to lure me away from another lender and trap me into a loan I did not wish to be in.

Lee of Climax GA (05/09/08)
my son is attempting to purchase a house. he is self employed, he told the bank up front he was self employed and how much he makes. the bank said no problem they could loan him the money. this was 6 weeks ago and every week since then they have told him he needs something else. first bank statements then w-2’s then his tax returns now they want a co-signer .

if all of this had been told up-front this would not be a problem but when they wait until the work day before closing this now becomes a problem. i gave the bank my personal info so i could co-sign. bank said ok now bank tells me i have to send tax returns, w-2;s and pay stubs.

B. of Natick MA (05/08/08)
I took out two mortgages last summer with Bank of America, and it has been quite a ride since then. First, they gave me high rates (7.5 and 9.875). Then, after three separate calls in September to make 100% sure they would be paying out my Real Estate taxes in October, the condo building own nastily tells me in November that the taxes were not paid, and he will send a lawyer after me. Turns out that my condo unit is being assessed as part of the building and not as an individual unit just yet. The city is not planning to re-assess for a year, says the building owner. I make gosh-knows how many calls to get the situation straightened out, but they still won’t budge.

Meanwhile, the building owner is making threats, and he wants me to pay twice. I finally stop paying the taxes with my mortgage payments to BOA, and they start fining me. I spent more time on the phone and on hold — until they finally agree they will pay the taxes if I give them a copy of the invoice and the percentage I owe. In the meantime, they sent out mail to the wrong address, and they even sent me a statement saying they sent my taxes to Baltimore instead of Boston. Then after that situation was supposedly worked out, they started sending notices threatening to harm my credit report because they said my mortgage was late. I pay early each month!

Finally, again, after many phone calls and much time speaking with supervisors and on hold, they finally acknowledged that they had applied my payment incorrectly, but it is still showing up as late online. And forget their credit card: Now, I’m getting hit with a $144 finance charge, when I just made a $900 payment (over $500 more than the minimum). And they won’t lower my interest rate. They are criminals, in my book. And incompetent. I am going to find a way to pay down this card, and get refinanced with someone else as soon as possible. Don’t do business with this bank.

I have been so upset time and time again from all of their incompetencies. Every time I give them my mailing address, they send things out to the wrong address. They don’t let one supervisor get to know you and the problems. You have to tell the whole story over and over again…and they have the nerve to ask How can I exceed your expectations today? They have stressed me out so bad at times, I’ve felt ill.

I’m just a faceless set of numbers to this organization. They do strange things, like change the credit payment due date, which is another stressful situation. If they waste your time or cause you headaches or emotional harm, you get nothing. If you are slightly late on something or perceived late, they can assess tremendous fees. I don’t understand why our time and sanity isn’t worth anything these days in the eyes of this bank.

C. of Kansascity MO (05/06/08)
I applied for a mortgage loan with BOA last year and they went through Fannie Mae. I have 4 different applications with 4 intentionally misspelled names and addresses. Fannie Mae regulator made them speak to me. Fannie Mae says I do not have a loan because they cannot find my correct name and address. The four loan applications i never signed. I worked with a Broker first time and she lived 70 miles away. Recommended by Realtor. Appraisal was falsified. BOA declined first loan with a falsfied statement saying lender seller credits were exceeding closing costs. Seller was in short sale she had no money. I saw fannie mae findings and there were no seller credits.

BOA now tells me they have no final documents for fannie mae loan. My income BOA stated they verified was intentionally inflated $300 to get me into a loan I could not repay. Don’t file complaints with OCC. They are worthless. I have had better luck with state agencies. These are falsified signatures and initials on loan documents and deed, note, etc. We have a falsified HUD-1 form, cutup and altered. The worst part is I have been a loyal and trust BOA have been with them 15 years and they spit in my face. It took them over 3 months to respond to OCC and OCC would not nothing about it. It is a real joke. BOA had violated so many state, Federal and other violations and I do have a lawyer but he is a civil lawyer and I think I need a criminal lawyer.

I am physically and emotionally drained from the discriminatory way I have been treated with BOA. They used to be quality and now they are quantity and greed and it makes me sick. They would not work with me at all let alone talk to me. My mental status has deteriorated because all BOA had to do was use due diligence and take care of this matter to begin with. I think they prey on the older lower-income women.

I was supposed to put 5% down and they made me pay in the end 20%. I did not get the EA TPR loan I was supposed to get. Why don’t borrowers who are abused stand up to BOA? Are people afraid of them? That is why they are getting away with treating people like this. BOA thinks they do not have to speak to me but they will have to speak to the judge in court.

Rhonda of Panama City Beach FL (05/05/08)
I asked for a 30 year fixed mortgage. I got to the closing and was presented with an ADJUSTABLE RATE MORTGAGE to adjust in five years. I called the lender…received voice mail. He later told me you can re finance, no problem. No BOA will not refinance or fix the problem. And OF COURSE i signed the papers at closing…I had no where else to live !

Karyn of Charlotte NC (04/21/08)
I went into the branch to make my Bank of America mortgage payment on November 17th of last year, due on December 1st. I included a payment coupon and wrote my mortgage account number on the check. I received my receipt and thought all was well. A week or so later, I received my credit card statement (issued by Bank of America) and saw that the exact amount of my mortgage payment showed as a payment to this card. Cold chills. I called the credit card immediately and the man I spoke with was, of course, completely unsympathetic and no help whatsoever. He said they could refund the amount to me but that I would be charged a balance transfer fee equal to 3% of the transaction amount! I pointed out that this was Bank of America error but he was, of course, firm that there was absolutely no other way. I drove back to the branch and talked to a supervisor. To her credit, she acknowledged that it was a teller error (and pointed out that my receipt had a tiny, faint, CDT printed on in rather than MTG). She called the credit card company for me and they agreed to refund the payment at no charge – however, I would need to wait 7-10 days for a paper check by mail.

Apparently, there was no way AT ALL for them to transfer it to my bank account with incurring a balance transfer fee. I received the check in time, fortunately, to get my mortgage payment in by the grace period, no problem. Also, I was assured that since this card was a 0% balance transfer card (and all I was using it for) that I would not be charged interest on this refund. Naturally, the next billing cycle, my credit card statement showed a purchase of the amount of my refund and was accruing interest. I had a $5,000 balance on the card already due to 0% balance transfers so, obviously, this relatively small dollar amount of interest will quickly add us since payments are applied to lowest interest balance first. I called the number on my card, explained the sitation, spoke to a supervisor who was very polite and helpful and she assured my that the amount showing in purchases would be recategorized and the interest would be refunded.

Well, the interest was refunded but the next month the refund had STILL not been recategorized! I called again and spoke to a little punk who did what I asked but made a smart little comment about the money I was making off of them (bless their little hearts!) by getting the interest refunded to my account yet again. So far, everything has been okay since. The most frustrating thing to me is simply the idiot bank teller who started the whole problem requiring miles on my car and hours on the phone. With all the supporting documentation and account numbers provided when I made the mortgage payment in the first place, there is no reason why she applied it to the wrong account other than pure carelessness and poor customer service.

Dan of Chico CA (03/22/08)
Bank of America has just put a hold on my home equity line of credit account without notifying me. My credit score remains a solid 700-plus with no recent changes. My payment history is absolutely perfect. I have never had a late or missed payment on anything my entire life. I have been doing business with BofA since 1993. They have my first mortgage, my home equity line, 2 personal checking accounts, my corporate checking, corporate savings, and a corporate SBA express line of credit. They say they cancelled my home equity line simply because the recession and mortgage crisis have lowered my property value and the loan to value is now to high. I asked why they didn’t notify me and they said that a letter was just put in the mail yesterday. Yesterday doesn’t cut it! Why not just pick up the phone?

It just so happened that I was in the bank trying make a transfer from equity to cover a business improvement that I already made, and I thought I was using money that I could count on. It also happened to be payday for my employees and the business account was not OK. Not a nice feeling when the teller says your account is frozen in front of other tellers and customers. I also had to race to stop my contractor from continuing a structural change on my home add-on that we were financing through this line. I lost a half of a day during business hours trying to shake down accounts receivables and basically embarrassing myself in front of my customers. I had to tell them that they were not late but I needed the money. All the while my business was running at half rate with the boss gone.

The amount of financial stress I went through was indescribable. I have plenty of financial resources but everything takes planning. I should not have been put on the spot like that. The last point I need to make is that my home value has not dropped as much as they think. They never gave me a chance to re-appraise. Since the last time they appraised me I have completely landscaped, redwood fenced, planted 5 large trees and 20 shrubs, installed auto sprinklers, completely remodeled the mother in-law suite (top of the line), and added on a cathedral ceiling/ glassed in patio room. My home value has not dropped nearly as much as they think. They just never asked.

Humiliated, Embarrassed, Stressed. Maybe $1000.00 or so in lost income for the day. And stuck with $4000.00 or so in business improvements that I would not have made otherwise.

Felicia of Highland CA (03/03/08)
I want Bank of America to make my house payment now and here is why. I have a notice of default that expires on March 5, 2008. My tax return was what I was using to catch up my house payments and now I don’t know where it is because of what B OF A did. On Mon. Feb 25, 2008 the federal tax return was deposited via ATM at Bank of America. I have banked with B OF A for nearly 14 years and for the years of 1999, 2000, 2001, 2002, 2003, 2004, 2005 and 2006 the tax returns have always been deposited via ATM and have always been honored. B OF A has never said anything to me about depositing them that way. On Tues. the 26th, I called to see if it had cleared and to my utter disbelief it was not in the account. When I inquired as to what happened to my deposit, I was told that the check was mailed back to my address because my husband’s name is not on my account but it was on the check. Mind you his name along with mine, has been on all deposited and honored tax returns from 99 to 06. I HAVE NOT RECEIVED THAT CHECK BACK AND IT LOOKS LIKE I’M ABOUT TO LOSE MY HOUSE BECAUSE B OF A was irresponsible with my money.

How stupid is it to send a check that has been endorsed in the US mail? As a banking institution I expect a higher degree of professionalism, responsibility and trust. That check was for more than $11,000 and I haven’t received it back. If I don’t get it by the 3rd. of March I feel it’s only right that B OF A make my house payment to cure the default. B OF A could have used Fed Ex or priority overnight mail with the US Postal Service. PLEASE HELP ME. I called the mortgage company on Feb. 20th to see if there was anything that could be done. The rep said that we pre qualified for a loan modification but that didn’t mean that we were approved and that approval can take months. She also said that a letter of intent to foreclose was mailed if the loan isn’t brought current on March 5th. Please what do I do? Thank you for your time.

I may lose my house because of B OF A’s negligence. I have a notice of default that expires on March 5, 2008 and because B OF A seems to have misplaced my $11,000 + check, I’m facing foreclosure.

Stacy of Cameron Park CA (03/02/08)
I’ve been trying to get my mortgage loan account straightened out for 6 months. BofA made two errors on my account, and it’s now costing me $300 to get an amended tax return as a result. The first mistake they made was paying the incorrect insurance company out of my escrow account. When I phoned customer service they told me I had to recover the payment from that insurance company and pay the correct one myself because they absolutely would not make a second payment from my escrow account for insurance. They then did just that, thus shorting my escrow account by $1600. I received a statement to reimburse my escrow account, which I did after verifying the address was appropriate with yet another customer service person. My check was cashed, but I didn’t find out until 2 months later that they never recorded the check into my escrow account, but instead used it as a prepayment to my mortgage loan. I received a statement saying my escrow account was still short and that if I didn’t pay them the $1600, that my mortgage payments would increase for the year by $120 per month!

When I contacted them (again), they found their mistake and fixed it, resulting in a corrected tax form. My problem is that my taxes were already filed, and now I have to pay $300 to have them amended. Bank of America’s customer service people could not have cared less about my problem and actually blamed me for not catching the error sooner, though they still deny any wrongdoing on their part.

I lost several months’ worth of interest on money that should have been deposited into my escrow account, and I have to pay $300 to have income tax amendments filed.

Lisa of Hawley PA (02/28/08)
My ex-Husband and I had refinanced an equity loan on our then home. I had no income and bad credit. The original loan was in his name. We both signed the mortgage papers at the bank because my name was on the deed. Nothing was to be different except the equity line was being increased. A few months later as I was looking over the documents again, I realized that the loan was put into my name not my husband’s. I called the bank and asked why was this done. They had no answer. I told them I had no income, and why would it now be in my name with bad credit and no job and not in my husbands who had good credit and a career? No one could do anything and told me that is how it is, and we would have to refile to fix it and pay the money to redo the loan. We were divorced in Dec. of 2005. I signed the house over to my ex in exchange for him to take over mortgage and payments. I have a court order signed by a judge where ex agreed to do so and not hold me liable.

April of 2007 house was foreclosed and sold at sheriff’s auction. Ex-husband failed to follow court order and remove the mortgage from my name and put into his. A $212,000 foreclosure is now on my credit report and is causing me great damage to credit. Bank of America/Fleet would NOT do anything to correct the error. They gave a mortgage to someone who has bad credit, as I did, and no income what-so-ever. What were they thinking? I now have my credit ruined when my ex had his name on the original documents, and Bank of America/Fleet messed it up and put mine instead!

Eric of Greenville SC (02/25/08)
We were supposed to close on a home loan on Oct 30th but were not able to because they called me that morning saying they forgot to get the house inspected. We closed on Nov 2nd, but the loan amount we agreed to more than a month earlier was lowered because they changed their minds on letting me do add-ons such as TV and refrigerator. I was given less than 24 hours notice on this. Bank of America has a close-on-time guarantee. If they don’t close on time, they are supposed to make the first mortgage payment. They have ignored and delayed me on getting this done. Now they are telling me they can’t do it because more than 30 days has passed since the closing and that the closing amount changed. BOA changed the amount; not me! I also submitted a letter of complaint right after the closing (much less than 30 days after the signing).

This would come to $806.05. This is the mortgage payment minus tax and insurance. We had also talked about using the $1000 from the seller to buy down the rate. When I went to sign, they also had me paying an additional $750 to buy down the rate. I may have over looked this in all the paper work, but I don’t remember us ever discussing this beforehand. I am very frustrated that I cannot get any progress made on these issues in over 3 months.

Jernita of Alexandria VA (02/18/08)
I was pre-qualified for a $295,000 loan through the use of undocumented income. My builder accepted the letter from Bank of America, and I asked me for $4425 for the earnest deposit. Well, when I went to get qualified for the loan, I was told that they no longer loans through the use of undocumented income; and now I need a co-signer. I cannot find a co-signer, and my builder wants another $4425 from me because they claim that I am in default of my contract agreement because I won’t have the funds to go to settlement. So basically I am a first time home buyer who spent $8000 +, and I have no place to live because Bank of America changed the rules of the game once I invested my $4425 into my condo unit. I owe another $4425 .

David of Piedmont OK (02/11/08)
Major mortgage problems with Bank of America. My wife and I began to build a new home in April 2006 after getting approval for a mortgage from Bank of America. My builder was very up front about the fact he didn’t trust Bank of America and wanted us to switch to some of his other preferred lenders. We evaluated what they had to offer and decided Bank of America at the time was still a better option. All was well until 1 week before closing and our first Bank of America appraisal was 10K less than the actual build price. My builder again pushed for using his lenders saying he could still get the deal closed in time if we hurried, plus he trusted the appraisal would be fair. My builder was also upset that the appraiser would not use provided specs for comparison properties and found properties over 2 miles from my house location to bring the value down. I demanded Bank of America get a second appraisal that still came up short by 4K. The second appraiser would not work with my builder to help determine property values either in the area. I eventually agreed to pay the difference at closing, which was 4K, and my builder ate the cost of about 2K in upgrades we still owed to get the loan closed on time.

Of note, my house is the only one our builder has built that has under-appraised, and he’s been building homes for over 25 years. According to him, it is also the only time BofA has made it to closing on one of his homes. At closing, after all papers where signed, my builder comes back to the room to notify us Bank of America won’t release the funds to close the loan. After 3 hours at the title company making phone call after phone call we find out Bank of America forgot to verify the home had been completed and wouldn’t release any funds until they send a rep to the property to visually verify the home was ready to move in. At this point my builder closed on 2 other properties while we waited in the waiting room for our money to get released. He even showed us the house he closed on after us and how a VA appraisal on it was for more per square foot than BofA would give us on our custom build. This house was in our same neighborhood. Finally the money came through and BofA just acted like they did us a favor and never apologized for the screw up.

Now, 14 months later, BofA wants $2400 in escrow shortage because they only calculated a vacant lot property tax into our mortgage payment last year. On top of that, our house appraised by the county assessor for within 500 of what we payed for it 5 months after closing. I to this day believe BofA pressured the appraisals to be low. Overall working with them has been a nightmare. I’ll be cutting all ties with BofA as soon as possible.

At closing, cost over 4K more out of pocket due to low appraisal as well as sitting for 3 hours at title company so mistake could be fixed. $2400 now owed for escrow shortage. Increase in monthly payment by $150 if escrow shortage payed in full, or $350 if payed out over next 12 payments.

Debra of Lees Summit MO (02/09/08)
When we were looking to purchase a house, we asked Bank of America what our payment would be if we bought this particular house. Since that was an affordable amount, we sat down signed papers and closed. They told us our payment was $1862.00 per month including taxes and insurance. Now it is February 2008, and we get a letter stating that our escrow account is severely short; and we will have to come up with the 2007 shortage of escrow, and our house payment will be going up $500.00.

We looked back at the paper work, and the mistake THEY made was that they wrote down our old property taxes on our previous house ($2400.00) instead of the new house ($4200.00). I feel this is very unfair. If we would have known our payment would have been so high, we probably would not have signed on this home. They also wrote the previous city on the paper work, too. Is there anything that we can do about this?

Murtadha of Fullerton CA (01/22/08)
I changed my insurance specs with Farmers Insurance to include stolen jewelery. I have a mortgage with Bank of America. When the insurance with Farmers was changed, Bank of America sent me a letter to notify me that if I did not have wind insurance coverage, I would have to get their insurance (if I did not settle the discrepancy with my Farmers policy within 3 months). Their (Bank of America) insurance would cost $3981 a year. Farmers Insurance contacted Bank of America and sorted out the wind coverage with them. My Farmer’s policy costs me $973 a year.

I am concerned that I would have had to pay not twice, but four times as much, to cover my house with Farmers and am troubled about the greed that a corporate company such as Bank of America has gotten into. My mortgage loan has been paid back with no missing payments, and my credit rating is excellent, so I feel Bank of America is asking too much if Farmers would have failed and had not provided a safety net for the consumer. BOA is on the hunt for consumers to pay them more if given the opportunity, rather than serving the consumer. This policy should be investigated to protect the consumer regarding Mortgage associated house insurances.

Robin of Pine CO (01/02/08)
I purchased a home in May of 2007. Never late on a payment. Unfortunately, my husband and I did not qualify, and the house is in my son’s name. We have the house on the market to sell, and currently have renters living in the home. We have always made our payments on time, but the problem is they contacted my son saying we were 3 months behind and threatened foreclosure. They said we were more than $3,000 behind. This is absolutely NOT true. I looked at the bank statements, and then on Bank of Americas website and found SEVERAL of our payments to be sitting in a FUNDS TO SUSPENSE account. The only reason I can notice is that we were making bi-weekly payments and sometimes weekly payments, but were actually paying more than what our mo. mortgage was. I’m not sure if this is legal or not and do not know how to force B of A to release my money. Any FULL payment we’ve made shows as Payment Applied.

My son was trying to purchase a vehicle and was turned down due to Bank of America reporting him as more than 90 days late on his mortgage payment. My understanding is that this could be reversed and his credit repaired as a Bank error.

E. of North Augusta SC (12/28/07)
Bank of America misapplied payments to 3 mortgage accounts we have. It has taken my wife a solid year for the Mortgage department to finally admit they made a mistake with applying payments from a year ago. They stated they would credit all late fees, but we have not seen any type of written indication of the monetary amount of that credit or a letter of apology. Mortgage department stated they would send a letter to the credit agencies.

Damaged my credit rating to where I was unable to get refinancing on 2 separate financial transactions with my personal bank, Security Federal. Falsely reported on my credit rating that I was delinquent on payments when I was not.

Patricia of Berwyn IL (12/01/07)
I just bought my first house one year ago. At closing I was so happy and proud until I found out later that Bank of America was paying taxes they were not supposed to pay for my property. The previous owner was responsible for paying the taxes for when he still resided there. BofA knew that. All of a sudden I received a new payment booklet from Bank of America saying my new mortgage payment was $2400.00 dollars because I owed over $8000.00 dollars worth of taxes that I was not even responsible for. They took it upon themselves to pay taxes for a property that I did not even live in. I had my lawyer step in. When I asked to meet with a representative to discuss this sloppy mess, they said, well, we are in New York city and unfortunately the individual branches cannot help, only the mortgage department can deal with this. I have missed work on account of this and am in complete emotional distress for fear that I might lose my house.

I have spoken to so many BOA mortgage reps about this and each one has a different response. They all sound like robots. I would so much like to talk to the CEO about this problem. Why should I have to request all these refunds from Cook County Treasurer’s office in Chicago, Illinois? BofA made the mistake; they should remedy the situation.

Evonne of Crandall, GA (09/06/07)
We recently refinanced our home with Bank of America. We thought since we currently had our mortgage there, that it would be easier to refinance with them. We had a terrible experience.

There were about 5 different departments handling our loan. We were unable to get call backs after messages were left. They made many mistakes (re:escrow, income, debts). We were told something different every time we talked to someone different.

We had a 1-hour notice on the closing, and even then when we got to the lawyers office, some of the paper work was incorrect. We were having to call the bank from the lawyers office.

It was a terrible experience.

Thomas of Northfield NJ (08/01/07)
I made many additional principal payments on my mortgage in order to save interest. The mortgage required PMI insurance. Federal PMI regulations state that PMI should be calculated as .5% of the previous years mortgage balance. Bank of America refused to recalculate the PMI and charged me PMI based on the original amortization schedule. As a result, my PMI payments were approximately 1 1/2% of the previous years average balance instead of the half a percent it should have been.

I paid a couple thousand dollars more for PMI than I should have.

Frank of Hillsborough NJ (08/02/06)
We refinanced with BOA in March of 2006 and, after reporting our previous real estate taxes (which did not rise this year) were given an estimated monthly payment a little over $1700.00. We paid on time through May, June, and July, but when I went online to pay the August payment, it was reported as being around $2065.00. After checking with the Hillsborough, NJ tax assessor’s office to make sure there had been no increase, I approached the Hillsborough branch of BOA. A helpful employee there contacted the mortgage department and informed me that the difference was because of the initial estimate (based upon our reporting of previous taxes, remember) was more than $300.00 short and that the bank, in accepting our $1700.00 payments, had run us about $1400.00 into escrow debt and had to reclaim the money by upping our payment. We were not informed in time of the bank’s mistake and would not have been informed at all, had I not gone to the branch and had an inquiry made.

We are stuck with a 350.00 extra payment for at least a year. It won’t force us into bankruptcy, but it will sure cause me to look into another refinance (vey carefully) and also open me to the possibility of switching banks.

Les of Alpharetta, GA (03/13/06)
After being pre-qualified and paying $200 for a credit check, we had very sporadic communications with B of A prior to closing on a home in Leesburg, FL. We were told that we were locked in at an interest rate of around 6.5% and there would be closing costs. The calls continued right up to the last minute, when we were told we needed closing costs of $7500.

Just prior to the closing, we were informed that closing costs would now be $8000, and that some things they had “just” found on our credit report would cause our interest rate to go up to 7.5%. We were also told to come up with $2200+ to pay items that they were uncomfortable with on our credit report.

So, our interest rate when up a full percent after we were told we were locked in; our closing costs were increased the morning of the closing; we were asked for an additional $2200+ at the closing, and we had to light a fire under the B of A rep just for the closing to take place on the day it was scheduled, since we had drive over 6 hrs from GA to FL.

Esperanza of Houston TX (10/26/05)
I called Bank of America Mortgage to make arrangements to postpone payment after my house and health were seriously affected by the recent storms in Texas. They said that they would not draft any money until I told them later this year. The next day, they drafted the payment anyway. I called to ask why the draft was done and they were very rude and sarcastic in their replies.

The employees transferred me around and said that they had no record of the payment arrangements, and they “could not refund the money” because I needed more technical information about how the payments are done. When I asked to be connected to the customer satisfaction survey, they transfer me to the checking department.

Sandra of Frisco TX (5/17/05):
We refinanced our mortgage and the bank left out some taxes out. We found out a year later and we had a shortage that we had to pay asap. Our mortgage payment went from $1100 to $1460.
Curtis of Cocoa FL (1/5/05):
I applied for a mortgage with Becky at the Titusville, FL, Barna Avenue branch. She made a mistake that is costing my wife and me thousands of dollars. She told me that I would need $141,598.50 for an October 25, 2004 closing. I was surprised that I would need that much for a closing before the builder had a permit to clear the lot. I expected the closing to be sixty to ninety days before moving into the house, since that was what other mortgage companies offered.

In order to raise the $141,598.50 I had to borrow $50,000.00 from my 401 K and money from other investments. Late afternoon before closing Becky advised me that she had made a mistake that I only needed $28,788.94 for the closing. I told her that I wish she had told me that before I borrowed the $50,000.00 and withdrew the money from other investments. She said she was sorry that she made a mistake.

As a result of Becky’s mistake, I am paying $405.00 per month on the $50,000.00 loan. So it is now costing us rather than making money. I had to stop putting the money into my 401 K so I could afford to make the payments. The decreased contribution caused an increase in my Federal income tax. It adds up to an expensive mistake.

We originally planned to borrow the $50,000.00 from my 401 k for a much later closing after I had used other available funds. I only planned to make a few payments before paying the loan with proceeds from the sale of our present home. We did not want to sell our home until the new home was built. My builder said he was very surprised that this happened to us since he recommended Becky. He also said Bank of America should do something about it since it was the their mistake that caused it.

I cannot get anyone at Bank of America to talk to me or respond to my letters.

Minawatee of Rosedle, NY, writes (6/21/01):
It all started when I sent out my mortgage payment on july of 2000, in the amount of $1,413.89, and the Bank of America tried to collect $5,413.89 from my bankwhich is Chase Manhattan Bank. For obvious reasons the check was retruned to Bank of America un paid. To my surprise they re-deposited the check again for $5,413.99, instead of $1,413.99. In the mean time Chase is changing my account for insufficient funds, now to top it all off Bank of America is trying to collect late payment charges in the amount of $59.31 from me. I have copies of all correspondents I sent to the Bank of America along with cancelled checks, and charges from Chase.

Melissa & Brian of Appleton, WI, write:
Our mortgage was sold to Bank of America Mortgage with the first payment due August 1, 1999. Monthly payments go to Texas although the customer service number is out of New York. It seems the right hand does not know what the left hand is doing!

On October 21, 1999 a letter was received from Bank of America stating that our monthly mortgage payment was not received and if the payment is received more than 30 days after the due date the loan may be reported to the credit bureau and a field representative may be engaged to inspect the collateral and conduct an interview regarding the delinquency. A fee for the inspection service would be assessed to the loan.

I called Bank of America on October 26, 1999 and spoke with Jackie regarding the issue and discovered that there was a discrepancy with the August payment. My bank statement indicated that Bank of America did in fact cash all of the checks from August to the present; however, Jackie required proof (copies of cancelled checks) before an investigation could be done. Jackie also said she would refund the bank copy fee. This is ludicrous since they had my money and someone would need to look into it anyway.

I went to our bank where copies of the checks showed Bank of America had deposited them in August. On November 4, 1999 I faxed Bank of America, Attention Dan, copies of my cancelled checks, a receipt for copy fee from my credit union in the amount of $4.00, and a letter requesting a recap of the account. I requested receipts from Bank of America in the future so that I would know the payments have been received. The faxed document was confirmed received by Bank of America.

November 10th I received a very generic letter from Bank of America, Robyn D., indicating that adjustments have been made to the account. There was no acknowledgement of my requests of a recap, future receipts or reimbursement.

I followed up on November 16, 1999 and was told to call back in a week if I did not receive payment. This was unacceptable to me so I called back and spoke with Joanne, who said she would send a recap, note the system and follow up for the reimbursement.

November 18th, B.o.A. letter with a payment history, current only to the10th!

December 27, 1999 phone call with Bank of America, Sara H., confirmed that additional principal payments went directly to the escrow, another unacceptable mistake. The $4.00 fee had not been processed yet nor had the taxes been paid. In addition my husband was told to fax all the information from November 4th again, since it was lost. (We had a fax confirmation and the November 8, 1999 letter stating they adjusted the account. How many times must one send in documentation??)

December 27, 1999 phone call with Bank of America, Beverly V., explained escrow disbursement procedures that Universal Mortgage Corporation should have notified the county and insurance company of change in lenders.

My question is: How do I know this has been done? Ms. V. said she would forward for processing. I repeatedly asked to speak with a supervisor. Ms V. assured me that her supervisor would call back in 24 to 48 hours.

December 29th we receive yet another letter from B.o.A., Beverly Vickers, with another payment history, this time only current to the 2nd of December!

As of December 30, 1999 the taxes had not yet been paid. Pam N., Supervisor at Bank of America has not returned the phone call.

Surprised?!! We financed our first home in 1983 and have never once been late with a payment. I resent having my credit history threatened by a company, which refuses to look into a situation until I prove that they are wrong!!

Bank of America will need to take a good look at their accounting methods in the future if they wish to compete in the market.

Mortgage refinancing and mortgage financing nightmares courtesy of Bank of America. Does it get more appalling?

These mortgage horror stories were recounted on Consumer Affairs.

About Dr. Joyce Starr