Bank of America Complaint - Mortgage Service from HELL
4951 SAVARESE CIRCLE, FLORIDA -- On March 24, 2010 we received our Clarity Commitment State from Bank Of America for a new loan combining the 1st and 2nd Mortgage. They had all the documentation they request signed and delivered to them by March 30, 2010. As months passed by the lock in rate passed its lock in date. So, I called and asked them to lower our interest rate once again since they still did not have our loan finished. They came back and said we had to maintain the rate even though it had passed it's dead line. Bank of America was totally unwilling to change the rate. We were told the house had been appraised in April and they had called our 2nd holder for the payoff amount for the loan and had charged my husband's credit card for that service. We also received the Truth and Lending disclosure statement.
About 217 days out I get a phone call from a Representative of Bank of America, stating that she was taking over and that I now had to have my home reappraised. I was flabbergasted. These people took $450.00 up front which I paid on my Bank America Card and it is now 217 days out from it's inception of the loan and now they are telling me that they have to reappraise our home once again. We gave them every document they needed. B of A had our house appraised by their own appraisers which we never received documentation, even though we requested it when they told us they were going to appraise our home. On April 25, 2010 Chase charged a fee on my husband's credit card for giving B of A the payoff amount for our 2nd mortgage. The appraisal of our home took place on 4-30-2010. Even though we had requested a copy by phone we did not receive a copy or any notification of the properties that were used for comparable sales.
October 4th is when Bank of America wanted to appraise our home once again. I replied to her in person and in writing that I was closing the deal with the Bank Of America because they had no intention of giving us a loan, since they were still dragging us along with their lies and deceptive practices of denying us the loan. Yet they still have our $450.00 to initiate this loan process.
On October 12, 2010 a document was written by Notice of Action group that they refuse to give us a Mortgage because the value of our home was insufficient property value as stated for the rejection. Two doors down from our home a house just sold for $600.000.00 and they received every penny. Our home had a swimming pool, beautiful deck and 12,000 acre lot. Where as the home that just sold in the past two weeks on our street didn't have anything like our home.
So, there is deceptive practices that are taking place with in the appraisals of homes in our area. Why should it take 217 days to be told our home did not meet the appraisal, why would bank of America go forward and tell us our loan has been approved earlier in the process. SOMETHING IS TOTALLY WRONG IN THIS SCENARIO AND IT IS CALLED FRAUD and deception ON THEIR BEHALF.
I AM CONSIDERING SUEING BANK OF AMERICA FOR UNPROFESSIONAL PRACTICES WITH THEIR HOME LOAN SERVICE DEPARTMENT.
I have been a member with B Of A since 1986 and I am aghast at their professionalism
More Reviews on Bank of America: