Bank of America Complaint - Mortgage Modification/Incorrect payment processing/Incorrect Credit Reporting
475 CROSSPOINT PARKWAY, NEW YORK -- Hi,
Bank of America is extremely dishonest in everything they do! I urge anyone that can move checking account, credit card balances & mortgages to other banks to do so now!!
I have Soft Second mortgage. I wrote a letter in March 09 requesting a simple interest rate reduction because I read and watched TV and thought well if all these banks are getting these funds to help home owners why shouldn't I try to make an interest rate request. I'm extended...full time student/full time worker/have family/private school tuition for child/credit cards due to home repairs.. I requested this because I know that I am extended on my expenses. I provided all my financials to the Loan mitigation department at BofA. They wouldn't offer a simple small interest rate reduction but would only offer to extend mortgage from 30 year to 40 year. Ultimately tax payer hands over tax money to stimulus to Banks and thats all they offer. I get hit 2x as a tax payer and then a consumer if I take the 40 year because I'll be paying way more in interest for mortgage and yet my property value has plummeted to depths of hell! I declined the modification offer. Since then, I no longer receive my monthly mortgage statements. BofA started sending me late notices and foreclosure notice letters. I've called about 5x/weekly and also go into the branch now to pay my mortgage. I have never been late and never behind on my mortgage at all. I have all my bank statements showing that Bank of America takes funds every single month before or on the 15th of month but they show my payment history as processing after the 15th of the month. BoA reported me as delinquent on my mortgage back to May 09 to all 4 credit bureaus. I have been in constant contact with reps. I have spoken minimum of 15 times since March 09 to current. Every representative stated "oh, we have you as good customer and paying on time...there is no issue" It wasn't until I prodded and kept asking questions that I got more info. The receipt of late notices raised a red flag for me and I was proactive and requested a payment history for both mortgages ranging all way back to origination of mortgage 2006. I also demanded letters from BofA explaining why I'm receiving late notices when I'm not late or behind on my mortgage. I have never been late but found that they marked me late 3-5 times on both accounts. I pulled all of my bank statement including cancelled checks where BofA stamped the date. Every cancelled check is stamped prior or on the 15th of month.
This really affected me. I was so worried about receiving wrong late notice/FORECLOSURE LETTERS incorrectly I felt that they could put a lien on my house for my credit card. I think that they are strategically working to hit people with fees and even taking peoples homes. I decided to transfer my BofA credit balances to another credit card company. The other credit card company decreased original credit limit by $500 because I learned that BofA reported me delinquent on my MORTGAGE going back to May 09 and its now July 09! I unknowlingly paid with the chase transfer check to BofA and then that check got denied by Chase. But, BofA sent me my latest credit card statement making it look like they processed my credit card payment. So I better make a payment prior to my regular period and more than the usual payment just in case.
I have filed formal complaints with Attorney General, Bank of Commerce, www.helpwithmybank.gov. I've also contacted my congressmen complaining about this dishonest bank. You may be saying to yourself, "theres more to her story...she must be late or behind on mortgage.." I swear and speak honestly..I am not behind or late on my mortgage.
My neighbor had Countrywide and was then bought out by Bank of America. Neighbor never received notice to mail payments to BofA. They continued to pay mortgage to Countrywide. Then BofA started out sending late notices and foreclosure notices to neighbor. Thats how it started for my neighbor too..they received late notices/foreclosure notices. Neighbor shows that checks were cashed but BofA kepts stating that neighbor din't make payments. They have told me same thing with me..one day I'll speak with one representative that will say..."you're showing late.." next day I'll speak with representative and they'll say..."you're good customer we show you paying on time and current". My Neighbor got RealEstate attorney and BofA even stopped speaking with RE attorney. 4th of July weekend my neighbors moved out of home....left home and turned the home over to BofA. This was their 1st home...lived there since 2003. They were family of 4 with 2 small kids. My neighbor is a City cop...both work and are respectable...I thought there was more to their story too...until I started getting wrong late/foreclosure notices too! Please, if you are having issues with BofA like these...go to the website I provided www.problemswithmybank.gov Write your state attorney general and report to every agency that you can...I also reported formally to the Bank of Commerce. I also contacted my congressman of my area. I will also try to find CEO of BofA write him letter too. This is not ok. We have the power individually and as a group of American Consumers by pulling our personal accounts out of Bank of America all together... The only way that we have to fight back right now is by our consumerism. On all accounts...if you want to have a job...we have to stop buying china...and every other country that ships into us but doesn't allow us to ship our goods into their countries. We have to send a message to government and these dishonest corporations that we have power and we as American PEOPLE are taking the rest of our power back. This includes the future of our country...our jobs and our personal finances. If anything...I have learned recently..."as a borrower...you are slave to the lender". I will work hard to get out of dept and never rely on a credit card or borrow from any bank ever again.
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