Reviews: Bank of America Mortgage

We got our purchase loan through Bank of America, since we bank with them and it seemed the easiest. Our loan officer was nice, but even she told us she was overworked and was pretty slow to respond to our needs and requests. Sometimes we were worried about hitting our closing date, and when we hit closing we realized that we were paying more on our interest rate than we could have gotten if we'd shopped around, but it got done so we are generally pleased.

I am in the midst of a home refinance and am flabbergasted by the horrendous service I have received from Bank Of America on my refinance mortgage loan. My refinance is a simple one with no problems on my side, yet we are now three months past the date they said it would be completed. I can't get a hold of the processor, the sales person, sales manager, no one. It's ridiculous and extremely UNPROESSIONAL for B of A Refinance. If I was this inept in my job, I would be fired a long time ago. I am dissapointed in B of A.

There was no reason that u couldn't have taken into consideration that hard times have fell on everyone lately. There was no way we would have been neglegent on our payment. A simple letter from us could have been requested. A hardship and you knew we have been the ones paying for this loan to begin with. D.Day Almont,mi.

I started out as a Countrywide customer and then ended of with BAC when they bought them out. I started back in 2008, trying to re-finance my 8.8% loan. BAC told me the program I bought my home with, no longer existed, so I was out of luck. I kept trying. Every time I called, I got the run around. Beginning in 2010, I had to start using my savings to pay my mortgage. In August of 2010, I applied for the Making Home Affordable Plan with the, strung me along till March, then told me no! THEY SUCK!

It is not surprising to find out that Bank of America currently has a HUGE class action law suit against them. Many home owners have similiar stories of them losing paper work, and dragging out simple processes like loan modifications. I have been disconnected half way though phone calls, and have to call back only to find out that the previous person didn't save anything we talked about. I actually had an employee tell be to fall behind on payments to qualify of for modifications. This seems unprofessional

I did a simple assumption/quit claim deed to add my name on my mothers mortgage per instructions from Countrywide in 2002. 2008 Bank of America took over for Countrywide. May 2010 B Of A asks me to become the primary mortgage borrower. Dec 2010 Bank of America just deletes my name from the loan and tells me prove it was my loan. I send in 40 pgs of docs. They refuse to add my name back without a total refinance and doesn't even offer a simple assumption. Incompetent, rude, unprofessional and no level of customer service at bank of america. They don't know what they are doing in the mortgage division.

I started working with Bank of America for a refi in Aug of 2010 and they lost my paper work 4 times, showed I had never called, told me the paper work would be sent out in 5 days and called every Monday for 4 months and in Feb. of 2011 I received paper work after the rates had gone up. The people I spoke with was very Unprofessional and quick to judge you for asking questions. They were rude on the phone. DOn't use BofA for a refi loan.

I applied for a refinance to take advantage of current low mortgage rates in August, 2011. Current mortgage is with B of A and have been with them for 7 years. Credit score is 715. I received a form letter denying the loan refinance. An address was listed and a telephone number. I had some questions and called the listed number. THE PHONE NUMBER WAS 312-555-1212, THIS IS DIRECTORY INFORMATION FOR AREA CODE 312. They wouldn't even provide a real number for someone to talk to. UNBELIEVEABLE!

We currently have our mortgage with BoA. they kept sending us letters to do a quick refi. I finally relented and started the process. What a joke, they told us what info they needed and when we provided it they would just ask for more. This went on for months, when they has our house appraised, it was over twice the amount we owe. The appraiser said the paint on the trim was peeling and BoA said I had to take time off work and paint my trim during the hottest month. After four months denied.

My best friend has been trying to modify her BofA loan for 18 months! This loan began as a Countywide loan, then sold to BofA. She calls continuously to check on the status of her modification, only to be told she needs to send in paperwork which was already sent in, and TWICE she was told her application was no longer in process because she told someone at BofA that she NO LONGER NEEDED THE MODIFICATION - BOLD FACE LIE. I'm trying to talk her into getting a lawyer - they are only messing with her.

Anyone thinking about starting a mortgage with Bank Of America may want to reconsider. With all the reorganization, lay offs, and government involvement Bank of America is going through, you may find the over worked mortgage specialist at Bank of America making a lot of mistakes and not making deadlines as promised on your closing costing you more money than you expected.. I just completed the loan process with Bank of America and some of the problems I faced were, No communication with me or inability for the loan specialist at Bank Of America to take messages., loan information going to an email address I never provided or used costing valuable time, in other words I never received some very important information, not making the closing date on time, this is one of the most important necessities of a mortgage purchase, this failure on Bank of America's behalf cost me the seller paid escrow fee of 1500 dollars, the whole process was horrible and this was a little mortgage for under 50K. Bank of America had me down for five and one half percent interest, most lenders are going for four and one half percent or under Its is more involved, what happens after your loan is approved, more than likely there will be more mistakes long term, you may have to deal with, lost payments, Bank of America changing addresses without notification, poor customer communication and many more variables. I pulled out of the loan the same day the documents were ready to sign and close, remember this was after the closing deadline, Bank of America offered me 1000 dollars to change my mine, I explained all the problems I had with this loan and no employee at this branch including the manager seemed to care.. They proved how fast they could work when they were loosing my account by getting the docs in at 9:30pm in order to save the account and make the second deadline. Do yourself a favor, the odds are against you. After all I was a 25 year customer, that doesn't mean much these days. Remember, you have to live with a mortgage for a very long time so do yourself a favor, shop around for the best, most honest deal you can find.

People, please take my warning and dont go near BofA. I have been a loyal customer since the 70's. I decided to buy a vacation home with my hard earned savings. The loans has moved so slowly even after giving BofA everything I needed to qualify quickly. The loan officers make promises to get your business and then nothing happens. Today the seller of the house I am buying decided that Bank of America is so slow and so rude that she said "Find a different lender or I am backing out of this sale."

After getting 2 re-financing good faith estimates from other banks, I decided to give Bank of America a shot at the re-fi too, since they are the current bank I have my loan with. I have an 812 credit score, zero credit card debt, both cars paid for, 2nd mortgage paid off, and over 20% equity in the property. I got on the phone with BofA and they seriously insulted me with the wacked out re-fi offer and "appraised" value, as if they actually did an appraisal. Long story short, DO NOT WASTE YOUR TIME!

I have been waiting for more than 3 months to close my loan. They always ask some kind of documentation but they do not do any thing. In one sentence, Bank of America SUCKS. I HATE THEM.

If you read reviews of of all major lending institutions, they are all experiencing the same challenges with processing times. The whole world is taking advantage of these low rates and underwriting gudilines change almost daily which in turn cause delays because the banks want to make sure they are in compliance so... be patient and as long as you have good credit, equity in your home and consistent income, your loan should go through on a first in first out basis.

Selling a house in OKC. Buyers are putting down 1/3 in cash, financing the rest. They have all their accounts with BoA. BoA has drug them through the MUD. Keep telling us " we should close friday. Have heard this now for 3 MONTHS. I would not use BoA for ANYTHING. Avoid them like the plague.

I have had nothing but problems with B of A since the beginning. Now they are reporting my mortgage as discharged in bankruptcy court when I have never missed a payment. I don't know how long it will take to clear up THIS mistake. I'll never do business with them again! EVER!

its been over 3 months now since I started the process of refi with BoA. The worst experience ive ever had with a banking institution. in brief, I am still waiting to see what they will do, but I already started the refi process with another lender and I will be closing on it next week ( just two weeks after I started). I am also in the process of ending my 25 years relations with this TOO BIG TO FAIL institution by closing all my accounts with them ( about 4) and those of all my family members& relatives.

we just refinanced in 11/11. I have a better quote in terms of interest rate and fees from citibank, but decided to use b of a instead due to mortgage is already with them ( courtesy of now defunct countrywide). our loan closed in less than 30 days, but was a bit disorganized: the notary came with her "friend" who helped her complete the forms, they kept asking for little things- new copy of W2, questioned why i had opened a card in the past 2 months ( which by the way had no balance on it), etc.

I'm trying to re-fiance with BOA,,I've had 3 Appraisels all of them inaccurate,,some where missing SQ FT some missing bedrooms, garages,,ect..pointing this out, BOA refused to do anything about it!!! I know how many rooms are in my house!!! Poor customer service!!!! Will NEVER use them again,,Neither should you!!!!!!

These reviews all read the same-poor customer service, lack of urgency, failure to recognize customers needs, unwillingness set/meet custs expectations. What BS!!! Now 90 days into a simple refi (less than 1/3 val of propery and FICO's > 820), no closing in sight. Loan officer refuses to give estimates as to how long this should still take/refuses to return our phone calls. Similarly, his boss consistantly promises call back with updates/fails to deliver. Absolute ignorance - how can they do any business?

Understaffed processing centers and full pipelines are poor excuses for ignorance and incompetance!!! What ever happened to common curousies and respect to your clients?

YOU MUST STOP WASTING YOUR TIME AND FILE A COMPLAINT! THIS IS THE ONLY WAY TO GET A TRUE MARKET VALUE PRINCIPAL AND INTEREST RATE MODIFICATION. IF YOU DO NOT KNOW HOW TO FILE A COMPLAINT SPEAK WITH AN ATTORNEY OR EXPRESS YOUR INTEREST HERE AND I WILL GET YOU A COPY OF A REAL COMPLAINT THAT YOU CAN MODIFY AND FILE IT IN PRO PER!! YOU MUST FILE A COMPLAINT AND STOP WASTING YOUR TIME.

These idiots will run you through endless hoops of requests and then fail to accomplish anything.

My husband just tried to do a refinance for our Bank of America home loan.He was shocked when the person on the phone actually told him they couldn't right now because they didn't have enough staffing. They could give him a hold number though. Seriously. I will never deal with B of A again after this if i can help it.