Bank of America - Ignore the customer and they'll go away...I Hope
Mortgage Refinance - Complaint
OVERLAND PARK, KANSAS -- My experience with Bank of America has been a nightmare. Recently we tried to take advantage of the low interest rates and refinance our mortgage with Bank of America. They already have all of our information as they are the company that currently has our home loan. After filling out the application and being approved I asked the agent how long the process would take and was told that I could expect 2-3 weeks on average. I am a pretty patient person so I check up regularly for about 4 weeks and keep getting told that "it should only be a few more days". After nearly 8 weeks I am getting frustrated and am calling more often to get some answers to which I get the "I only have a few more things and it should be 24-48 hours". By almost 3 months I've given up and started to look for another company to take our business to. Then I get a call asking to re-pull our credit report because it has expired and they can't close our loan without our permission to pull the credit.
By this time I have been referred to another company and have started talking to them about getting our loan moved to them. I tell Bank of America that I will NOT let them re-pull our credit. Then the loan officer calls me and is furious and basically yelling at me telling me that I have "no choice" and that "I HAVE to let him re-pull our credit TODAY". I calmly tell him that I do have a choice and that I would like to talk to my wife regarding if we are going to cancel the loan (and pay the non-refundable items)and I would be back with him to which he replied "fine, I'm going to cancel your loan". I told him that I did not ask him to cancel it but I would like to talk to my wife. Then he told me "if you don't call me back before 5 o'clock today I'll just cancel your loan". I told him I'd get back to him, and after speaking with my wife I called and canceled the loan on a Monday afternoon.
We start the new loan process with the new company and after they get our credit report we are asked to explain a few items on the credit report, one being an inquiry by Bank of America AFTER I told three separate people NOT to pull our credit report. I call the credit agency to get the inquiry removed and they say that I need a letter from Bank of America explaining the situation to get it removed. I call our agent to request the letter and do not get a response so I try the other contact information for all of the people at the office(email/other phone #) with no response. So I contact the manager for the area and tell her the situation. She tells me that "she will get to the bottom of this" and "I will call you back before 12:30 tomorrow to let you know what I find out". 12:30 the next day comes and goes and I never get a call back so I call and leave messages for the manager and send an email and never get a response. Now I am very angry that a complaint like this just becomes ignored so I call her boss who is the Senior VP for the area and leave a message to call me back because I am having an issue and leave my cell phone #. A few days later I get a message from him on my home phone saying that I can "feel free to contact him anytime". Since then I have left four separate messages with no response.
I guess that they feel like if you have a problem and they ignore you long enough you will just go away. This is the worst way to handle customers and I am glad for sites like this where the consumers can let others know to avoid companies that do business like this. I plan on moving/canceling everything that we have with Bank of America, and spreading the word locally and online that Bank of America will not only take forever to help you, they will also yell at you if you try and leave, and will ignore you if you have a problem. Don't use Bank of America if you value your time or sanity.