Bank of America Home Loans
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Category: Business & Finances
Contact Information
California, United States
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Bank of America Home Loans Reviews
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windblown
March 29, 2011
New fees to existing mortgage
Has anyone received a letter about new fees charged to an existing fixed rate mortgage? Such as: verification of mortgage $15.00, payoff statement $5.00, payoff demand fee $30.00, and the best one, if you pay off or refinance your loan a fee up to $100 for the preparation of the documents to release your lien will be charged. What, the $150, 000 in interest isn't enough to cover that?
First of all this is an already existing mortgage. There is no prepayment penalty. This is not a checking account, where they can change or add on new fees, and I can just close my account if I don't like it. Where in my 6" pile of closing papers does it say you can add on as many fees as you want 10 years later?
I am sick of this bank working so hard to think up new ways to rip off the customer. Maybe they should charge anyone who speaks their name.
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mikescd
March 14, 2011
Mortgage late charges
I got behind in my mortgage and arranged a repayment plan that was to prevent further late charges from being assessed. They kept charging me anyway, even though I made all repayments on schedule. They flat out lied when making the arrangement, and also kept sending threatening letters about steps to foreclosure, that I was told by reps to "ignore". This is the least professional company I have ever had a mortgage with.
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john bierens
February 22, 2011
foreclosure
i asked for a payoff and got a notice which says that "this loan is in foreclosure".this is the first I heard of this.Also there are charges called fees due? additional fees and costs? and uncollected late charges.I would like to know what the fees due are and the additional fees and charges are. the total is $1200???
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FKTIMES3
January 5, 2011
Bad Business - Run
I had my origanal mortage with TB&W and when they went down Bank of America took over our loan. When our economy went down the drain we contacted them to go for a modification. We were told we quilified, then it was we made to much, now it is we make to little. We were told not to make a payment because it would show we could afford our mortage and we would be denied, now without our knowledge we were put in foreclosure. We were never notified, sent letters, or called. When I called they told me that we should short sale or apply for a deed of luie'. We have been dealing with this for over a year now. We have sent our paperwork and all informatin needed from them over 5 different times. We have called every month to see what is going on. NOTHING. They don't tell you anythiong. Everyone we talk to has a different response. Then 2 days before christmas I call and get told that all our stuff has been sent to an attorney and we are being foreclosed on. This is the first I have heard anything. I call the attorney and they don't call you back. I have left 3 messages in the last week. Then yesterday I call Bank of America again and get told that our home has a sale date on it already yet I have still received nothing from them. I have 3 kids and don't know what to do. They won't give us any answers. If anyone can help please let me know. If anyone reads this whole thing I AM FOR WARNING YOU...STAY AWAY. This is the worst bank ever and they do nothing to help you. I am not the only one going through this and There are 2 other people on my road alone that bank with them and are having the same problems. They would rather see you on the street then help you...!!!
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mckenzie482nc
December 14, 2010
Home Affordable Modification Program
Today is Dec. 14, 2010 and it has been almost 2 years since I initially applied for the Home Affordable Modification Program with Bank of America in July 2009. I sent them a clean file and kept following up and escalating to numerous supervisors only to be told to that it takes 60 - 90 to hear back from the bank in regards to my request. In December 2009, I was able to get the direct contact number of the negotiator handling my file (after being told that information was proprietary). The negotiator was understandable and sent me my trial payment package which would begin on April 1, 2010. I completed all 3 trial payments on time only to be told that it would be another 90 days before a final decision is made. In July 2010, I received numerous FedEx packages asking for several things that did not apply to me...so I called and the rep said just disregard it. Well another month passed with no word on my modification. In August 2010, I continuously called BAC weekly to check the status and make sure my paperwork was up to date and was told it was fine. Well after hearing nothing yet again as to when I would be receiving my final package...I filed a complaint with the NC Commissioner of Banks. My file was immediately escalated to the Office of the President only to be called with broken promises just to keep the heat off the company. I'm fed up and if I could pay this mortgage off in full, I would just so I would never have to deal with Bank of America again. All of their reps are incompetent and probably have NO mortgage experience or proper training. That should be against the law. I spoke with the 2nd negotiator (office of the President) on Dec. 3, 2010 and she assured me that my file was escalated to underwriting and I should hear something back in a week...well On December 13, 2010, I received another FedEx package thinking it was my final modification...only to find out it was a package asking me to apply for the HAMP...HELLOOOOO! I applied for the HAMP in July 2009 and have been waiting for the idiots to give final approval. I'm about to contact my Congressman next because this is beyond ridiculous.
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tracee282000
December 11, 2010
home loan fraud
We have Bank Of America..formerly Countrywide for our home loan. We are being dragged down in a serious way by Bank Of America!! We started a modification back in April 2010 and today is December 2010 and the modification has yet to be put in the computer and finalized even though we were told it was still going through workout. Well...today I called to make a payment and the lady told me I was 18, ooo and 12 months behind!!! I asked WHAT???? She said looked like our modification was just cancelled and our house was listed as vacant??!!! I told the lady we are still here...the house is not vacant and for the modification, we were approved and sent everything back last april all notarized!!! I am sooooooo ticked right now and our credit is shot totally! They were gonna send it through to the workout dept AGAIN to see what happened and they said SHOULD be fixed soon...Yeah right we'll see they're already tellin me i'm facing forclosure! of course with their records of 12 months behind..which I am NOT!!! If they don't fix this since it was their error...its lawyer time!!
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watchdog14
December 10, 2010
complete disregard of escrow close date
If you are trying to make a decision between Bank of America and another bank, or if your loan will be processed at the BAC Home Loan Processing Center in Brea, CA, please read this review. We are currently in escrow with Bank of America Home Loans, and it has been a complete nightmare. Actually, everything was going smoothly up until the week ago. Our loan processor told us that after he received the last two pending items, our latest bank statement and the termite clearance, that we would go to underwriting and that we should close on time. As soon as both items were ready, they were sent to our processor two days later. And then he disappeared. We didn't get confirmation that he received the documents, we weren't told that we were in underwriting, he didn't return phone calls FOR THREE DAYS. In the meantime, emails were flying all over the place between buyers, sellers, escrow company. Three days later, which was two days before we were supposed to close escrow, he sends this message. "Whew. I've been out for three days and am trying to catch up on my paperwork. BTW, we're not going to be able to close on time". My jaw just dropped because I had realized that our file sat frozen on his desk while he was gone.
We contacted his manager by phone and email, we were not contacted. We contacted another manager in the same department and were not contacted. It is now the day after we were supposed to close and we just got a message from the manager. It was a general message that explained that our processor had an emergency and had to leave unexpectedly and that we were now in underwriting. No apology, no explanation of how they were going to makeup for lost time, and why/how our file was abandoned. We are now closing late, on a date that has not yet been determined. My husband and I both have a steady income, high FICO scores, turned everything in on time. This delay in funding is clearly due to our processor's absence.
Do not choose Bank of America. They have horrible customer service skills, will treat you like a number, and have no regard to sticking to a timeline.
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Dougie B
November 30, 2010
Unfair reorting of negative credit history
To whom it may concern,
This letter is in response to bank of America’s most recent reply to my ongoing dispute over a 6 month rolling late payment that appears on my credit report for my mortgage payment for account. I do not dispute that I missed a payment in February. I believe the payment to have been sent, but never received. Unfortunately for me, I can produce no documentation to verify this. I was NEVER contacted via mail or phone by Bank of America when this occurred. (How an institution of bank of America’s size can not contact a customer when there is a “problem” with a payment is beyond me. Every other bank and financial institution in the country seems to be able to do so.) I continued to make payments believing there was no problem, having no reason to think so.
In July I was notified by phone that a payment had been missed in February. I promptly made a second payment to get “caught up”. I was still in the process of a divorce and was very diligent about protecting my credit score as I knew I was facing buying my ex-wife out of the house and would need to refinance the house in my name alone. For almost 3 years I made all my payments on time, despite the stress and expense of the divorce. I missed one payment, but by the time I was notified about it, the situation had created a series 6 late payments which were reported to the credit bureaus and VERY negatively affected my credit. I have repeatedly asked Bank of America to address this situation to no avail.
At worst, bank of America is remiss in not notifying me of a problem regarding my account. Their poor customer service and questionable inaction has caused me significant financial harm. I am finding it impossible to refinance my house (which I have been ordered by the court to do) because of 6 months rolling late payments that was cause by ONE payment not received. At best this is all a misunderstanding that could easily be resolved by Bank of America if they had any decency or sense of customer service. I have filed a dispute with all three credit bureaus - Experian, Equifax, and TransUnion. I have also filed a complaint with The Commissioner of Financial Regulation for the State of Maryland. Bank of America claims they have “thoroughly investigated” the situation and stand by their negative reporting on my credit history. In light of the negative media coverage of their lending practices, one would think they would be open to resolving this situation amicably. However, judging from the tone of the customer service people I have dealt with on the phone and by mail, this is not the case. I am exploring every available means to have this ongoing dispute addressed and rectified. Any assistance you can offer would be greatly appreciated. Thank you in advance for your attention and consideration in this matter. Please feel free to contact me by mail or telephone.
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New Hope
October 18, 2010
Phone Harrassment
Our mortgage was originally with Countrywide Mortgage, whom apparently sold it to Bank of America home mortgages. We have had to refinance our home, at the direction of a shady attorney and his alliances, to finance a very costly legal battle of our Marine son back in 2006-7, who was charged with murder in Iraq. Since that time, if we are even one day past the due date of our mortgage, we start receiving harassing phone calls. And, not only to our home phone, but to our cell phones as well, which in turn is running up those bills as well. And, we are not talking about a single courtesy call, but up to 15 times per day to any one line. After a while, we just stopped answering, and they leave no messages on the answering machine. And, should you decide to answer, you are told by recording to hold on to be connected to a live person, which sometimes really happens, other times not. And, these calls DO NOT come just between the business hours of 8-5 M-F. They come at all hours of the day as early as 6 am and as late as 10 pm, and on Saturdays and Sundays as well. Oftentimes, the calls come one right after the other, within a minute of one another. Then continue on throughout the day.
Understand that we are usually just at the most, a week behind the payment due date. With not even two payments yet due. But, if you call and talk to them, they always want to collect the second payment, or no payment, as well.
Furthermore, to complicate the problems, anyone you do get an exact amount due from, will 100% of the time, not agree with either their computer records of what is due, or a second person in a similar home loan counselor capacity. THEN, we receive oodles of follow up correspondence/new payment coupons with NEW amounts that don't even come close to any dollar amounts transacted. And, why would any future payment amounts be altered.
Is anyone else out there having similar problems? We are located in Central California.
Many thanks for taking the time to read this,
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don hallberg
September 20, 2010
cashed check, no credit to mortgage
Bank of America took over Countrywide Loans and has completely mis-handled our account. They have cashed the check for our mortgage, as we have a copy of it from our bank, and never applied it to our mortgage. Still after all routing and account numbers they have not credited our account. Someone please HELP. My spotless credit history can be in jeopardy due to these careless people. Don and Kristy
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