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Bank of America Mortgages

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Jack of Cucamonga, CA May 29, 2009

my mortgage was with Countrywide home loans- my latest statement came and I saw that B of A now has my loan so I wanted to check into refinancing my 6.25% 30 year fixed as the market was at 4.75%. My wife and I went to our local branch of B of A and I was told after some fumbling around that they couldn't help me. Their excuse was that they would only loan 80% of value and with the current housing collapse, my home which I bought 5 years ago for 565,000- put 160,000 down and financed 375,000 was undervalued and not available for refinancing.

It took the representative R. Shah 5 mninutes to blow us off- never even got down to talking credit or other issues- just told me they couldn't help. WHAT? Why did all my Tax money go to bailing out banks and easing credit markets only to be told this? where did all the taxpayers money go?

Bertha of Westland, MI May 30, 2009

I am 69 years of age, and I became behind in my mortgage payments. I applied for a loan modification in Oct 2008. They sent me papers, I had them notarized and returned. I submitted payments in the amt they stated, and payments were returned. I then contacted them again, and they stated they had no record of my loan modification, and for me to call back in a week they should have researched and found out what happened with the modification.

When I contacted them approx. two weeks later they stated they located the paperwork and they didn't receive any payments so they closed out the modification and there's nothing they can do for me at this time. I informed them my payments were returned, and they stated I would have to try and apply again but dont think I would qualify because I had defaulted on my modification. The stated I have no further options, except catch up all the last payments.

I was never contacted by the bank in any way to see what occurred with the modification. And when I contacted them, they didnt know what I was talking about. I received a payment coupon in the mail for an amoumnt and i sent that amt. It was returned stating "not enough to cover amt due". Im confused, scared, and worried that im going to loose my home and cant do anything about it all because of a mishap or something. its not fair.

Dale-Lynne of Edmeston, NY May 28, 2009

My finance and I were approved twice from Bank of America/Countrywide. We found a home in Sherburne, NY that we were interested in. So we paid for the appraisal of 395.00 and then we backed out of the deal. The appraiser never went appraised the home. And needless to say, Bank of America/Countrywide took the 395.00 off my credit card. I have have never seen that money reiumbursed on my credit card. So a few monthe later, my finance and I were interested in another ome located in Edmeston, NY. We were preapproved again by Bank of America/Countrywide and again, they took 395.00 off my credit card. So i made several calls to the bank to see how the process was going. No one would return my calls. One week before the closing date, my finance and I got a message on the answring machine saying that we were denied a mortgage loan. I would really like to be reimbursed the 790.00 that we had to fork out for nothing. They should have waited for the appraisal until they knew that we were approved or not. I think they should credit my credit card back for their mistakes.

Vera of Hutto, TX May 28, 2009

I have had my mortgage with Country Wide and never ever have been late with a payment in 5.5 years. The first payment I send to Bank of America does not post. I find this very strange. I called several times to see if it arrived and asked if there was a mix up since they took over. They were very rude. The last gentleman I spoke to said not to worry as long as it posts by May 29th. I get a call today, May 28th, from an outsourced, debt collector asking where my payment was. I told them I overnighted it and it was there as we spoke.

I have a feeling they are holding people's payments and going to start stealing our homes and become rich with late fees. Why call me when they can see I have never, ever missed a payment. Why wouldn't they call after the 29th? Something is very fishy and I am afraid.

Margarett of Detroit, MI May 21, 2009

On May 20, 2009, I did speak with a representative of Bank of America, Mr. D. Harris, and entered into an agreement to restructure payments of my loan. The terms of the restructured payments were that I would increase the amount of my paments from 150.00 each month to 230.00 each month with the increase in payments to begin in August 2009.

At 5:25pm that same day, I received a call from another Bank of America representative, M. Morris, who claimed that the prior agreement I made with Mr. Harris to begin increased payment in August was not vaild and that I would have to begin the increased payment plan immediately. I explained to Mr. Morres my fixed income status and why it was only possible that I could begin increased payments in August 2009. Mr. Morres became beligerant and insisted that I must submit increased payments now and threatened to have the increased payments removed from my Bank of America checking account with or without my approval. I am going to the Bank of America branch on West Grand Blvd. in Detroit, MI. this morning to either get a definitive statement from the bank that my account will not be accessed without my approval, or, request that my account be closed and my monies returned to me.

Toby of Orange, CA May 21, 2009

Based on all of the comments on this site, it is painfully obvious that Bank of America needs to be stopped. I have been trying to modify my loan (B of A bought Countrywide, Countrywide bought my note from another institution and Fannie Mae is the investor). My wife lost her job in March and even before she lost her job, we've been trying to work with our bank to see what we could do. We have a fixed loan, and have not missed any of our payments. We have been getting so many different answers;from there is nothing we can do for you, to let's refinance you - but we will charge you about 10,000 to do so, and oh yes we will also say that your house is worth more than it really is.

If there are so many of us complaining (I sent an e-mail to ABC (both local news and investigative reporter B. Ross), I sent an e-mail to my local newspaper, I even sent an e-mail to President Obama) how come they are still getting away with defrauding people? If anyone out there is reading this please help. Bank of America needs to be stopped and it needs to be held accountable.

Fardad of Yorba Linda, CA May 22, 2009

Late February of 2009, I received a refinance offer and rate lock from Country wide now a division of B of A. The lock period was for a month and the loan documents indicated "Fast Track" for the entire process. I am still waiting for the refinance to complete it is unclear when the process will end! I have very high FICA score of 780 and full documents have been turned in to B of A over two months ago.

I have contacted Sandra S of country wide and all the indications are that this will be a long drwan out wait and my initial deposit will not be refunded at this point! My worry is that I will lose on other refinace offers I am receiving now and at the end I will not receive any refinance with the current favourable terms. I need a resolution or my deposit back ASAP. The damage is the loss of favourable refinance terms and no guarantee that B of A will actually return my 500 initial deposit for this refinance.

sue of wilmot, OH May 12, 2009

this started in october 2006 and ended in may 2007. I never knew who to complain to until i came across this on the internet. heres my story that still makes me mad when i think about it. in oct.2006 i was a month behind on my pmt. called bank of amer.to see how i can work this out, before i got any further behind. i was told i had to be 3 months behind in order for them to help me. I did not pay in nov. husbands work hours were cut. I let them know. still they said you have to be 3 months behind. so in order to get help I had to let tdec. pmt. not paid just as they actually told me to do.

that i did and we started the loan modification process with bank of america. Sent all paper work to them, they said they did not get it so i faxed it to them. At the end of jan. nothing was done on there part. they just took there time. I called them everyday to see what to do. accomplished nothing. they did not do there job. I sent in a pmt. not wanting to get behind any further.

In the middle of me giving all my paperwork to them, they then sold my acct.to m&t bank. i explained the whole situation to them and had to go through this all over again which caused alot more hassle and stress. Before i knew it they had an attorney involved and made me pay this attorney in order to keep my house. If i knew this was going to go this long and this bad i would have just took out my 401k to pay house pmts. That is what i had to do because they took so long to accomplish anything.

I feel this was unfair and they should be responsible and pay my money back. These banks need to have better criteria in the loan modification dept. I will let you also know this when they sent me loan modification papers they also accidently sent me someone elses file with all there info & paperwork they sent to the bank as well. I called the people and they were not happy. I did send it all back to the people. But i had all there information. Do you suppose that is what happened to all my paperwork I sent to them that they said they did not receive. probably so or they just dont have qualified people working for them.

Amy of Olive Branch, MS May 15, 2009

My husband and I bought a property July 2007. We thought we were doing the right thing by purchasing our loan through Countrywide. Our financial position changed drastically almost exactly one year to the date when our gasoline bill went from 250.00 - 300.00 per month to a whopping 1200.00 per month and to make things worse I was injured at work, missed 9 weeks of work. Two days after I was placed on leave, my husband was laid off. We are now under Chapter 13 and on a very, very strict budget.

We received a notice in January of 2009 that our escrow would go up and we would have to pay an additional 12.00 and change. We didn't pay too much attention to that statement. Last week we got another statement from BOA letting us know our escrow has now gone up another 68.00. SO that brings us to a total of 10% of our entire monthly mortgage payment, not 10% or our escrow account. I found out today 05/14/2009, that I am NOT the only one. There are many, many more who have received the exact same notice. I keep hearing Farmers Insurance coming up over and over again and I feel that the Farm in conjunction with BOA are seriously FLEECING the American taxpaying community.

My escrow should NOT go up that much. My taxes have NOT been raised (YET), and my homeowners insurance went down. The extra 89.00 a month the BOA wants, and I am fairly sure Farmers Insurance and maybe AIG or who knows any of the Insurance companies are wheeling and dealing this monstrosity of larceny upon the poor unsuspecting, taxpaying American people. The damage will reveal itself if we do not band together and take a stand against greedy banks and insurance companies. I guarantee it will not be pretty. I believe they will continue to increase our mortgage payments until we can no longer afford them and they will inevitable take our homes from us. By this time it will be too late.

Robinette of Chicago, IL May 7, 2009

My 89-year-old mother-in-law banked at LaSalle Bank for years. When Band of America bought out La Salle Bank. In December 2008 they sent her a letter advising they were revamping her mortgage payments from monthly to twice a month, and that nothing was need on her part since she was having her mortgage taken out automatically from her bank account. Late last month she called me saying that when she checked her statement she didn’t see any of withdrawals for he mortgage payments. My husband took her to the bank to find why, and the only thing they told him was that the mortgage was being paid and her account was up to date. That next week, I did some investigating on my own, and found out the Bank of America was taking her payments from someone else account, the clerk gave me the company name and account number that was being debited.

I called the company to confirm and the amounts matched what should have been debited from her account. I advised the other person's bank they needed to stop having that taken out and advise for them to their customer what happened. I then called bank of America to discuss what would be needed to sure up my mother-in-laws account and to make sure this would not reflect badly on her credit. I also advised them she should not be punished for the bank's error.

I spoke to a very rude supervisor name W. Fairley, who told me that my mother-in-law must pay all funds from December. When I explained that she could not pay that amount, Ms. Fairley started quoted in policy and would not accept anything I said. After about a 1-hour discussion, with Ms. Fairley I asked to speak with her supervisor. After waiting for about 20 minutes I spoke to Vince who stated in even a more rude fashion how it was not the banks fault they payments were being incorrectly applied, but my mother-in-laws fault for not finding the error earlier. As I stated my mother-in-law is 89 years old. She does not always check her bank statements, she just happened to check it late April. If I had not looked into this myself, this could have gone on for months. My mother-in-law has always paid her debits and is not looking for a handout, but I feel that the bank should not request back pay from her and to make sure they pay back the account of the other person who they wrongly debited. I need to know if anyone can help me with this situation.

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