B of A home loans?

[SWANEEDB]

Thought I would ask here if any of you have home loans thru B of A. I keep getting mail several times a week on now is the time to refinance. Tired of that. This morning I get a notice in the mail and also a Fed-x letter saying I have not made my house payment, I have my payment taken out of my bank acct every month and statement shows so. Just wondering if anyone else has had a simular notice. Thanks

[uscra112]

Bank of America is probably first in the race to be the crookedest bank in the USA by several miles. I would get as far away from them as possible in the least amount of time possible. If they're starting that "no payment" jazz with you, document the heck out of everything, and hire a lawyer immediately. Then route all your communications with them through said lawyer. No joke. I would belabor you with details of what they've done to members of my extended family, but it would fill a book.

Yes, it's time to refinance - with a different bank. Can you get with Wells Fargo? They ain't plaster saints either, but they are at reasonably trustworthy on mortgages. Better yet, see if you can find a small-town bank near you.

But for the love of Heaven, get away from B of A.

[beezapilot]

Try a credit union- I've had it with banks.

[Jbiker]

or look for A LOCAL co-op BANK THAT WON'T FARM OUT THE MORTGAGE…….save all paper work and communications also and keep a dated journal of everything !!!!

[Garyshome]

A Credit Union will be your most cost effective.

[500MAG]

Thought I would ask here if any of you have home loans thru B of A. I keep getting mail several times a week on now is the time to refinance. Tired of that. This morning I get a notice in the mail and also a Fed-x letter saying I have not made my house payment, I have my payment taken out of my bank acct every month and statement shows so. Just wondering if anyone else has had a simular notice. Thanks

Did they sell your mortgage? I had mine being auto debited from my account and they sold my mortgage to another company. I then received a delinquency notice from the new company.

[Epd230]

Get your loan with Wells Fargo or make sure the local bank has a program where they promise to not sell your loan. Wells Fargo and B of A buy up most of the paper out there, so either start with Wells, or risk ending up with B of A again.

[cbrick]

Bank of America is probably first in the race to be the crookedest bank in the USA by several miles. I would get as far away from them as possible in the least amount of time possible. If they're starting that "no payment" jazz with you, document the heck out of everything, and hire a lawyer immediately. Then route all your communications with them through said lawyer. No joke. I would belabor you with details of what they've done to members of my extended family, but it would fill a book.

Yes, it's time to refinance - with a different bank. Can you get with Wells Fargo? They ain't plaster saints either, but they are at reasonably trustworthy on mortgages. Better yet, see if you can find a small-town bank near you.

But for the love of Heaven, get away from B of A.

Not possible to agree anymore than I do. My blood pressure goes up just driving down the street in front of a BofA, no need to go inside, veins in my neck would burst.

Be afraid, be very afraid.

Rick

[OBIII]

ебать Bank of Amerika. I had a credit card with them years ago. I was going through some rough times, no job, getting a divorce, still paying on the house my soon to be ex was in with my daughter and my ex's boyfriend, and was behind on some of my payments. Long story short, got divorced, sold house, sent B of A a cashiers check (with the proper numbers on it). 1 week later I get another dun notice saying they were turning me over to a collection agency. I called them on it, they admitted to their mistake (credited it to another account not owed by me) and said, "Sorry". Never done business with them and never will again. Ебать Банк Америки

OB

[Spruce]

Comcast news header today, 5 worst and 5 best mortgage lenders. You all ready know one of the 5 worst.
BB&T was one of the 5 best.

[dg31872]

I guess we were lucky. We had a mortgage with a local bank. They sold it to B of A, and we never had any problems with them. As for as I know we were never late with a payment and anything, but they were okay. We paid it off this summer.

[MtGun44]

Despise B of A. For example, my father had two CDs with them and they were set up as "payable on death", yet
when he passed, they said "We won't be honoring that, you need to get the paperwork to put them into the estate,
and we will transfer to an estate account. Would you like to open an estate account?" Another bank in the same
town had one that was payable on death and they just wrote us a check, no sweat, when we showed the death
certificate. B of A are pukes.

We opened an estate account in another bank and transferred the CDs there, but we had to pay more estate taxes than
were proper because they were crooked and did not honor the terms of the CD.

In addition to that, they seem to specialize in supporting illegals, lots of special services, big banners "Send Money
to Mexico" in the local lobby, all the tellers speak English with a heavy Spanish accent. This does not attract me
either. More like Banco de Mexico, but that is just that particular branch.

I will NEVER deal with them again.

+1 on credit union, usually far better service.

Bill

[dakotashooter2]

If you are in a flood zone forget about refinancing right now. It will trigger a review of your flood insurance which could jump unbelievibly due to recent changes in the regulation. In our community one person had their flood insurance jump from $400 a year to $4200 a year and that's just one case............

[paul h]

Never banked with B of A, but everyone I've known who has used them has several stories of bad experiences.

If you qualify for USAA, I can highly recomend them for both banking and insurance.

[jmort]

Since I deal with these banks/home loans every day, I can tell you it really does not matter who your lender is as long as you do not need their help. When the chips are down, Wells Fargo is ruthless. I have many client with B of A/Countrywide loans and they quit making payments for years, even five or more. Wells, hit 90 days and NOD recorded and then they foreclose ASAP. The loan/note itself is sold and placed into a mortgage back security and some company acts as a servicer for the owner of the note. I would get the best rate/deal possible and not worry so much as to the lender, as the note will be sold and, you can/will have a number of servicers over the life of the loan. In terms of bad deeds, JPMorgan Chase/WAMU, BofA/Countrywide, and Wells/Wachovia are all about the same. Regardless, i would get the best deal possible and not worry about a name, but look at the bottom line.

[Bad Water Bill]

When my sister bought her condo her mortgage was sold even before she left the office.

[MaryB]

BofA screwed some friends. They paid off their mortgage and BofA foreclosed on them a year later. Cost them a bunch in legal fees to prove it was paid for and the bank was crooked. Now they are trying to recover the legal fees. They have 2 judgements against BofA for the fees and after 2 years they still haven't been paid.

My only dealing with them was a credit card, when they jacked my rate to 23% I paid it off and told them to stick the card someone not nice.

[dragon813gt]

Had a credit card that was issued by a somewhat local bank. Want to guess who ended up owning it? I was very happy the day I let that card go.

[Blacksmith]

B of A is screwing my extended family as we speak. They bought a bank that held a trust fund of a family member who has passed. they have mismanaged it for years and there is nothing that can be done.

Avoid B of A like the plague!:evil:

[WallyM3]

Simply put, B of A is a sociopath organization.

[dbosman]

Get the lawyer to have the sheriff seize the bank building, to secure the judgement.


BofA screwed some friends. They paid off their mortgage and BofA foreclosed on them a year later. Cost them a bunch in legal fees to prove it was paid for and the bank was crooked. Now they are trying to recover the legal fees. They have 2 judgements against BofA for the fees and after 2 years they still haven't been paid.

[waksupi]

Better read through some of these complaints. B of A is big trouble.

http://www.consumeraffairs.com/finance/ba.htm

[Charley]

Never banked with B of A, but everyone I've known who has used them has several stories of bad experiences.

If you qualify for USAA, I can highly recomend them for both banking and insurance.
USAA FSB is open to everyone, no restrictions. BoA has one of the WORST reputations in the banking industry. I would never do any business with them.

[FISH4BUGS]

When I bought my condo in downtown Portsmouth NH in 2006, I asked the mortgage officer if they were going to sell the mortgage (TDBank). He laughed and said "...it will be sold before the ink is dry on my signature".
When I sold the condo and my SO and I bought our great little farmhouse inland and rural about 25 miles away, we went to a local small bank and asked if they were going to hold the mortgage themselves. Since we did a 15 year mortgage, they keep all those, but sell any 30 year mortgages.
Keep it local, and find a good small local bank or credit union to refinance with. Ask them if they sell the mortgage. If they don't, go with them.

[Bulldogger]

Won't belabor the horror stories with my own, but I agree stay away from B of A.
Mortgages are bought and sold as assetts, mine has been sold three times. I'm pretty sick of it but stuck for now.
Agree heartily with those who say to find a local office that doesn't trade mortgages or treat their clients like livestock.
Bulldogger

[jmort]

"Mortgages are bought and sold as assetts, mine has been sold three times"

Typically, the note is only "sold" once, and placed into a mortgage backed security. It is the servicing rights that change. The servicer merely collects the $$$ on behalf of the note holder pursuant to the Deed of Trust. That is why it is not critical which lender you start with, as your note is sold and the servicer will typically change a couple/few times.