Bank of America Complaint - Just try to paydown your home loan by half
My wife and I received our loan rejection notice from Bank of America today. The process started in early August we both signed lots of papers that you would normally sign at closing. In fact our representative from the Bank of America Home Loans told us the closing would be sometime in November. We were never close to foreclosure at any point with our loan with them.
Here is the part that makes no sense to me. My wife and I have each worked at the same places of employment for over 35 years. We are current on all our bill payments including the mortgage payment to Bank of America. We only have one mortgage payment to Bank of America and have no other property. The thing I do not understand is that we were going to pay off one half of our current mortgage. We were still rejected for a loan. We had some of our securities sold to do this. Now we have lost interest money on the securities that were sold specifically for this purpose and still cannot get the loan.
I have only one recourse is to take them to court and take legal action against them. The Bank of America should not be doing business in Indiana. What a scam they have going. If someone offers you half of what you owe them and they refuse to accept the money something is drastically wrong with Bank of America.
During this process Bank of America have very little contact with us and was slow or not responsive to questions.
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