Bank of America Complaint - Extremely Poor Mortgage Service
We’ve already tried to get into the Federal programs but were denied due to “too much debt” this last time and previously due to “me making too much money” and mortgage is not greater than 31% of gross income (it is at 29.8%) Of course they don't take into account that your net income is really what you are paying your bills with. This last time we were working with Bank of America on getting into their inside modification programs. We were denied that due to “too much debt” but I only received that denial over the phone when I tried to make a payment last week.
Here’s the story – just so you know why I am personally angry at the situation and just “done”.
3/30 – Tried to make a payment 5:30pm – BOA would not take a payment as we were evidently put into pre-foreclosure (2 months behind because BOA would not review any modification programs unless we are 60 days behind – figured was already bad enough so it wouldn’t hurt too much but I would not let us get 90 days behind). Told at this point that we were denied the in-house modification but have never received any written notice of such. I was then given a reinstatement figure but it had to be by Cashier’s Check or Western Union Quick Collect – tried to do Western Union that evening but they will only accept cash funds so had to wait for the next morning.
3/31 – Went to bank – had just received tax return – Did Western Union Quick Collect for 3 months payments plus late fees (Jan/Feb/Mar complete payments) – 9:46am – BOA received funds. I called BOA at 11am after a morning meeting and was told that all was good this would catch everything up and pull us out of foreclosure.
4/7 – Called BOA to schedule April payment from paycheckWas told that we were now in full foreclosure but a “sale date” had not been issued. Come to find out, BOA declined payment on 3/31 at 3:00pm due to it being insufficient to bring account current but will not tell us what the figure is. 4/1 was then put into full foreclosure as we are now 90 days behind with a 4th payment due. 4/4 check returned to us from BOA for amount paid on 3/31 – should receive in 7-10 business days.
Seems they are just playing a date-game to collect more funds. I have since (in the last week) spoken with several people that have received the same run-around from BOA. We are now in the process of speaking with attorneys to find out options and truly thinking about just "walking away".....We have a $180k mortgage but the house down the street just sold for $69k. It's not like we over-extended ourselves...just got behind with husband out of work due to being in the housing industry and 19% unemployment rate in my county.
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