Don't forget the problem we have had from activities from 2005 until everything went haywire in 2008 with one of the largest mortgage companies in America, The Bank of America. They were instrumental to the failing of our economy, people loosing their homes due to non response to their customers, tagging huge fines on homeowners and literally taking homes back from even those who were current on their payments.
Although the BofA paid our government millions of dollars in paybacks, many of those who were affected did not receive any benefits from that money. After the BofA paid this money it seems that the subject and attention was taken away from the BofA. However, the bank continues to fail in customer communications by failing to return calls, trailing the caller from one person to another, ignore written communication and fails to answer inquiries from lawyers. They have not changed in their mode of service nor have sharpened their loan policies.
I hear and read story after story of people who felt that they were given proper information before a new mortgage loan (I ask why would anyone go to BofA?) trusted the loan officer and had huge difficulties from the signing of their new mortgage loan.
I ask that you out there in America land, continue to ban this bank, remove your accounts and take them elsewhere, do not even attempt to get a mortgage loan or any other loan from this company.
Here are some samples of continual Fraud:
"Going into the loan application process we were VERY clear about what we could comfortably afford and said repeatedly that if those parameters would not work, to let us know and we would back out. We wanted to make certain we didn't take on something we could not afford and end up in foreclosure. We were told over and over by the loan officer that we were fine. Even when we received summaries that showed figures MUCH higher than our max agreed amount, we were assured many times that our loan officer was still "working the numbers". So taking her at her word we released our contingencies and moved forward. Then our escrow process went 30 days over, resulting in our living in a hotel as we had already given up our rental home based upon our contracted escrow closing date. I am told this can happen and was assured by the manager of our loan officer that we would be reimbursed for our expenses for having to stay at a hotel. So we made the best of a bad situation (2 young homeschooled kids, 2 large dogs, and 2 cats in a hotel room for any amount of time is NOT pleasant) and waited it out. The day before escrow finally closed we again contacted our loan officer to get our final numbers and were told she didnt have them in front of her but not to worry, they were what we wanted. So we went to sign our escrow docs. That was when we found out that our total monthly payment was $800 higher per month than our max agreed amount. " Jan 2013
"B of A was supposed to do a forebearance or loan modification, at the same time a different office was handling the foreclosure. They sent foreclosure papers to court, without even finishing the loan modification. We were smart enough to figure out how to file a response to their foreclosure and stop it dead in its tracks, "in pro per". Next thing we know, we get a paper from B of A stating that they are no longer handling our case.. and they tacked the attorney and court fees on the loan for this next company that is taking it over. Their names are NationStar Mortgage." Dec 15, 2012
After one year of continual fighting and attempts of communication with BofA "So I finally called BofA and laid it all out on the line, that I was now aware that this process was a proven pattern of fraud, that I would fight them tooth and nail until the last possible moment and that I would rather see the house burn than allow their fraudulent actions lead to it's repossession. I said I would not accept anything less than an immediate modification as agreed and that I reserved the right to seek legal action in the future to recoup my other substantial related losses. Once I made my position clear it is almost as if the time to continue to defraud us was no longer worth it because we were magically approved for a modification 3 days later, after never submitting new paperwork. While it has not yet been finalized, we have expressly complied with the terms thus far and I am hopeful it is a step in the right direction. While we may never recoup all that we have lost, I am sharing this with the hope that someone else might read it and not become their next victim"
These are only a few of what I have been hearing.
Don't forget the crimes of B of A.