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Old 11-08-2010, 11:24 AM  
Commodore

San Marcos, Texas
Join Date: Aug 2010
Posts: 538 | Kudos: +23
Do NOT use Bank of America for Mortgage

Just a heads up that Bank of America is a horrible lender.

They do not answer phone calls, e-mails, they stall, do not meet close dates, do not communicate at all. Overall worst experience of any business in my life.

It's also like they are obligated to do loan applications by proxy of some Federal rule but convey tactics to force borrowers to abandon the loan process eventually.
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Old 11-08-2010, 06:21 PM  
Junior Member

Port St Lucie, Port St Lucie, Florida
Join Date: Nov 2010
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I had a friend who used them and 2 days before the closing they called him wanting more documentation as far as income and they weren't even sure if he was going to be able to close. Your right they are one of the worst. I used Chase and they were not much better and we both have AAA credit. Frankly I didn't go through as much as when I got the mortgage on my first house and had never been late ever in 20 years and had the original mortgage with them also.
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Old 11-08-2010, 08:24 PM  
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Sammamish, WA
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My daughter finally got hers to close with B of A but had to jump through a lot of hoops at the last minute, very frustrating. I wonder if there are any better lenders, they are all pretty gun-shy these days.
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Old 11-08-2010, 09:30 PM  
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Stafford, Virginia
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Ours was as smooth as a babies butt.
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Old 11-08-2010, 10:57 PM  
Commodore

San Marcos, Texas
Join Date: Aug 2010
Posts: 538 | Kudos: +23
Yep right before close they start laying on addition paperwork. Asked for NEW appraisal after already doing one.

We could never get anyone to answer the phone, ever.

Worst customer service ever.

I felt like perhaps they were stalling too. The paperwork being a front to just stall the transaction for whatever reason they have. It felt fake.
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Old 11-08-2010, 11:13 PM  
Ric
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Denver, Colorado
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I wont use bank of america for anything, they give home loans to known Illegals
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Old 11-15-2010, 04:51 PM  
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Sisters, Oregon
Join Date: Nov 2010
Posts: 31 | Kudos: +11
Quote:
Originally Posted by Keith View Post
Just a heads up that Bank of America is a horrible lender.

They do not answer phone calls, e-mails, they stall, do not meet close dates, do not communicate at all. Overall worst experience of any business in my life.

It's also like they are obligated to do loan applications by proxy of some Federal rule but convey tactics to force borrowers to abandon the loan process eventually.
After what they tried to pull with my credit cards, I won't do any business with them again.
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Old 11-29-2010, 04:06 PM  
Looks at dirty Jeep pics
 
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Tucson, Arizona
Join Date: Oct 2010
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My mortgage company was bought out by B of A. Knock on wood - no problems, other than the split of their insurance companies.
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Old 12-11-2010, 06:10 PM  
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Minot, ND
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i financed through a local credit union that told me up front that they usually sell of their mortgages after closing. i made sure that it wouldnt be sold internationally, they assured me it wouldnt. b of a bought it. havent had a single issue thus far...
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Old 12-11-2010, 06:19 PM  
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California
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I had my mortgage with them for 15 years, and never had a problem with them except once a year, they would send me a check saying I had too much money in my Impound Account, and the following month they would send me a letter saying that since I had less than required money in my Impound Account, my monthly house payment would be increased.

Once I paid off the loan (yeah!), they sent me a "Paid in Full" letter, and it all in the past now.
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