If you ever get a little behind on your mortgage with B of A, they give you over to debt collectors immediately. Let's say your behind (1) payment, but make the next payment on time in full (regular amount.) Obviously, you need to somehow get the one payment in to them before you fall way behind. Well, they will tell you that even if you made that 2nd payment on time (and you specified the month you wanted it applied to) they will charge you a late fee because of the 1st payment you missed & they will keep charging you late fees until you catch up that 1 payment. GUESS WHAT, THAT IS ILLEGAL, it's called (LATE CHARGE PYRAMIDING) per the FCC.

If I had known this fact I would of called them on it, but if you think about it, they can always blame the people (comapny of debt collectors they pass you to.) How BRILLIANT, now they can claim they had no idea that it was going on. JUST A WARNING FOR B OF A CUSTOMERS. This company will not only kick you when your down, but will stomp on your head. By the way, for the negative nancy's that like to make snotty comments on how perfect you are - this kind of information sharing is what this site is about, so find another website. My mortgage when B of A took over my loan skyrocketed up $400 extra a month and my impounded account was only semi-impounded, because I was also getting extra $500-$700 tax supplement bills. This is after paying into the mortgage for 2 years, unresolved and no explanation! I give up...

We originally remortaged with COUNTRYWIDE who placed us into one of the now imfamous "unstable mortgages" that we will have a hard time maintaining as time goes on. Many have already lost their homes because of them. Bank of America took over our loan when they purchased Countrywide last year. We are in a home mortgage situation where we now actually owe more then we originally mortgaged for from Countrywide due to the type of mortgage we were offered. We did not realize at the time that this would be the situation and we signed papers without really understanding the consequences. We have been able to pay our mortgage payments thus far but we need to get into a more stable mortgage. When we call Bank of America they do not want to assist us because we are NOT BEHIND on our house payments. In other words, we have to be heading into forclosure before they will even discuss helping us. They want to make sure your credit and everything is ruined first, I guess. They claim they don't have to help us because they DID NOT GET ANY FEDERAL ASSISTANCE to do so, which we know is a lie. THIS IS A VERY CORRUPT BANK THAT DOES NOT REALLY CARE ABOUT ANYONE BUT THEMSELVES!
I guess, we will have no choice but to give them back a house that is worth a whole lot less then what it was purchased for, when we are willing to try to work out something with them to continue to pay them on a reasonable mortgage modification. ANYONE ELSE HAVE THIS PROBLEM WITH BANK OF AMERICA? I see they were involved in a class action last year that involved people in the same situation as us who LOST THEIR HOMES. Why do you have to lose your home and everything in order to get help??? My son is also with Bank of America and after two years of trying to get them to help him he finally put the house up for a "short sale". Now they both lose!! What kind of idiots are running this bank?? Would it make sense to try to help people out and keep them in their home rather then be taking in all the homes that are getting forclosed on? Or instead of accepting short sales, allow people to stay in their homes for a decreased mortgage amount? Whats the difference?! Most people who are selling by short sale don't really want to move- they just can't afford the higher mortgage payment anymore! THIS IS A VERY UNCARING BANK!!!