F*ck You, Bank of America

As you guessed from the title, this will be a not so safe for work article. You might want to bookmark it and come back later when your boss is away so that you can shake your head in disbelief.

I have the occasional rant. I mean, who doesn’t right? But I’ve been holding off on this one for MONTHS to actually give Bank of America the chance to make things right. I’m just at a point where I can’t take this shit anymore so I have to share it with you.  It all started with a mortgage.

My mom bought her home 18 years ago and obtained a mortgage from a little company we will call Countrywide.  All was well for a few years until she was hurt at work and eventually became permanently disabled.  Not to worry, my stepfather had a steady job at a company that he had been with for years, so they took it in stride and did what every white picket fence loving American (well almost) couple would do and made it work.  They were diligent and paid their mortgage on time, sometimes adding a little extra money here or there to pay down their balance a little faster. In the meantime, Bank of America bought Countrywide and my mom’s mortgage in the height of the Great Recession.

In stepped the Recession and my stepfather’s company closed its factory in New York and he was left without a job.  It’s tough to find a blue collar job in New York City when you’re in your late 50’s.  I’d say that it was damned near impossible.  I remember being a kid and going with my mom to Long Island City to meet my stepfather a time or two.  Back then the area was filled with plenty of factories and places where you could make a decent living and support your family.  Fast forward about 20 years and those factories are now luxury condos and lofts.  Those jobs are gone.


B of A Screw You

But again, my parents made this situation work.  My mother’s disability check is close to the amount that they need to pay the mortgage and my stepfather decided to pull his pension a little early so that they could pay the rest of their bills.  When my mom learned about mortgage modifications, she thought that they would be perfect candidates for it.  She went ahead and applied for the mortgage modification.  Mind you, they were not behind on their mortgage payments, but yes, it was a little difficult to make ends meet without drawing on their savings, but they were doing it.

At some point in the process my mom called to let me know that she was looking into a modification.  I advised her against it because even though she probably would qualify, it would not be in her best interest.  Why?

  • The banks don’t do modifications to benefit you, they do it to benefit themselves.  If she received a modification, all they would do to lower her monthly payment was just extend her mortgage term.  It would earn them thousands of dollars more in interest because she would be paying them much, much longer.
  • She had a little less than 7 years left on her mortgage.  If they could hold out that long the home would be theirs free and clear.
  • They have some habits, which if changed, would result in some potential monthly savings which could give them a little bit more of a financial cushion
  • If they had problems paying the mortgage there is absolutely no doubt that my brother and I would help them.  We would never let my family end up on the street
  • If you’re conditionally accepted into the program, pay a lower amount for a while and are ultimately rejected from the program you will immediately owe the entire difference between your regular mortgage payment and the lower payment amount.
  • My coworker who had received a notice of impending foreclosure notice had tried to get a modification (read the story) and after months of being given the run-around, given up
  • Bank of America already had a reputation of foreclosing on homes and I personally didn’t trust them

Now, this is where I get a little ticked off with my mom.  She never mentioned to me that she had already applied for the mortgage modification until things went south. My mom and I jointly own a home equity line of credit (“HELOC”) on her home for which I am 100% responsible.  I make all of the payments.  I don’t even think she knows what the balance is on the HELOC because she doesn’t even get the mail.  I do.  When she applied for the modification, Bank of America automatically closed the HELOC.  It’s not surprising because the terms are pretty standard that if you have a second mortgage on the house when you apply for a modification, that one becomes due since they are afraid that you won’t pay it.  When she was told the disclosures over the phone, she never connected a HELOC with a second mortgage and thought that all was fine.  It wasn’t until she received a letter in the mail stating that because of changes in her financial situation, the line of credit was closed and we had a certain amount of time to pay it back that she became alarmed.  So much so that she didn’t even bother calling me herself to tell me.  My brother called me at work to tell me.

I was absolutely livid since I’d had no clue that she had applied for the modification.  The significance in the HELOC being closed would not affect my mother much, but it would affect me.  You see, your credit score is based on a number of things including your current balance versus the amount of credit available to you.  With the HELOC closed, the available balance effectively went to zero but the amount that I owed was still close to $40K.  It would have killed that ratio and killed my credit score and probably affected hers as well, but her credit score was less important to me than mine.  Selfish, I know, but my mom completely lives on a cash basis, never applying for credit, while I am the opposite.  Your credit score affects everything from the amount that your car insurance company charges you to your ability to get a job.  This is especially true if you work in the financial sector.  If you work in finance and you have a crappy score, you are viewed as irresponsible and no one will hire you. It’s unwritten, but true.

Since I was at work I couldn’t hit the fan like I wanted to.  Instead I called my mom.  She said that she had already spoken to Bank of America to withdraw her modification application.  When I explained to her all of the implications that a closed HELOC would have on me, she felt a little guilty.  My mom is not American and frankly doesn’t understand the entire financial system.  All she knows is that if you get a bill, you pay it and you pay it on time.  So, I called Bank of America and asked what I needed to do to have the HELOC reinstated.  My mom thought that it would be a simple process that would take a week.  I knew better since I was basically reapplying all


They’ll rob you too

over again for the HELOC and the entire mortgage industry had changed.

Thankfully, I live in the digital age and had every piece of documentation that was needed already handy.  I downloaded everything and faxed it over – prepared to do whatever I needed to have the HELOC reinstated.  It took a couple of weeks but I finally got an answer.   The answer shocked my mom.  Me, not so much.  The application was denied because even though my income alone would be enough to qualify, my mother was accepted into the loan modification program for her primary mortgage.  Why was my mom shocked?  Recall that I said that my mom called to have her application withdrawn weeks before it had even been processed.  According to Bank of America, they went ahead and processed it anyway and she had been accepted.  To be fair, the HELOC was eventually reinstated, but what has followed has been a tangled web of out-and-out incompetence at a company that’s too large to be efficient.

After speaking to the line of credit reps, my mom asked to be removed from the mortgage modification program.  At that point she had not even received paperwork in the mail letting her know that she had been accepted into the program.  Again, she had asked for her application to be withdrawn before it had been processed.  The rep that my mom spoke with assured her that it was a simple process to be removed.  She would put in the request and my mom would be removed from the program within five business days.  Those five business days has turned in to months and countless phone calls, multiple reps, hours on the phone, a stressed out and sick mother and a pissed off daughter.

My mother sent her normal mortgage payment into Bank of America thinking that all was well.  She did the same the following month and even sent in a little extra in an attempt to pay off her loan a little faster.  She first inkling that something was wrong was when she went online to check her mortgage balance and saw that her regular payment had not been applied as it normally should have (principal, interest and escrow) and her extra payment had not been applied at all.  It had been kept in a separate account and held.  This was way back in April.  She called to have it fixed and was told that she was still in the modification program, but all it took was removing a code.  Code 6.  Great!  That’s done right?

No, they did it again in May. It seems that the modification code had not been removed but they would so it this time.  Promise. Well, they did remove it.  Weeeell not exactly.  My mom surprisingly received a refund check from her escrow account saying that she had overpaid it.  She cashed the checking with the thought that she would just send the money right back and have it applied to the principal.   She thought that everything was finally fixed, again, when she started receiving phone calls welcoming her to the modification program.  She tried explaining that she was not in the program at all so she was unsure as to why Bank of America kept calling her to welcome her to the program.  That is, until she received a welcome packet into the modification program in the mail.  Alarmed, she logged into her account online only to find that her most recent payment had been held by Bank of America again and not applied to her mortgage.   After rounds of phone calls to Bank of America she was told, again, that she was back into the modification program.  At this point she had asked her application to be withdrawn, asked to be removed from the program multiple times, had been told that she had been removed from the program, but somehow they kept putting her back in.

This took us all the way into August when she found that her payment had again, been held and not applied to her loan. Completely frustrated, she was determined to once and for all be removed from the modification program. After being transferred all over the country and to different parts of Bank of America, she finally spoke to a supervisor who stated that she had the authority to remove  the modification codes but that it would take 48 hours to have it applied.  She instructed my mother to call back on the third day to verify that all had been completed.  During this entire period, I pretty much kept on the sidelines because frankly, she had gotten herself into that mess, and I was letting her get out of it herself.

Following instructions like a dutiful person, my mother called back, but just like Jesus, on the third day the modification rose from the dead.  After spending about 45 minutes on the phone with multiple reps who couldn’t help her, my mother was on the verge of tears and called me on her cell phone while again, on hold with Bank of America. At this point it was time for me to step in because no one deserved the five months of frustration that my mother had endured.  I figured that she had had enough punishment and was at her breaking point.  And honestly, the stress was killing her blood pressure.  So, even though I was at work and busy myself, I asked my mother to hang up and patch me in on three-way with Bank of America.  I wasn’t going to let another day pass by with some satisfaction.  So there we were: me, my mother and a Bank of America representative.

For those of you who get my Twitter feed, you might remember my live, real time blogging on August 8th of the entire experience of being on hold with Bank of America and being transferred no less 13 times while every single person professed to not being able to help my mother.  We went to the foreclosure department, the collections department, and every single department but the loan modification department which was where we needed to be.  Apparently, if your loan is in modification no one and nothing except an act of God can do anything for you, but I guess the people working in Bank of America’s multiple customer service departments don’t know that.  We asked multiple times for a supervisor and representatives flat out refused to get one.  Instead they just transferred us to the next department in a cruel game of hot potato.   If this is Bank of America’s idea of customer service, I don’t think that I’ve ever encountered anything worse and their entire mortgage servicing department should be shut down tomorrow.epic failure

In the meantime I had patched my brother in.  We were now four people on the line at some points.  Me, my brother, my mother, and the hold music for Bank of America.  At some point in our conversation, my brother, who had been patched into our call while he was 20 minutes away actually got to my mother’s house and took over the phone call from my mother’s end.  Every time we were transferred I Tweeted it.  Every time another customer service person said something stupid, I Tweeted that too. See, I know the power of social networking.  I might only have 1,000 followers, but my followers have followers too.  And guess what, their followers have friends and followers as well.  The day was not going to close without me speaking to someone who knew what they were talking.  I threatened to blast the entire experience that my mother had had with Bank of America to everyone in a scathing post the very next day.

We were finally, finally, transferred to someone who said that she was a supervisor and that she did see a modification code attached to the mortgage.  She would enter a request to have it removed but it would take up to five business days to have the code removed and all of my mother’s payments that were being held and not applied, reapplied to the mortgage in the correct way.   I guess all of my Tweeting also got the attention of Bank of America because someone from their Twitter customer service reached out to me on Twitter.  I won’t put his name here because I know that he is trying to do his job, but the behemoth in which he works is set up to make him fail.  I gave up my semi-anonymity and gave him all of the information that he needed to contact me to get everything fixed.

I was called probably within 30 minutes of sending him my information.  I patched my mother in while I explained the situation to him.  He too was unsure of why we had been transferred to so many departments including the Arrears department when my mother didn’t owe any money. He promised to find out as much as he could and get back to us immediately.  To his credit he has done everything that he said that he would do. But again, he’s working in a shit system.  It took him two tries and about two weeks before the modification code was finally removed from my mother’s mortgage.  All should have ended there, right? No, this is Bank of America that we’re talking about.bang-head-here - fuck your bank of America

Remember that refund check that my mom received for overpaying her escrow? She was send a letter in the mail saying that there was a large shortage in her escrow. Not thinking, she sent a check to cover the shortage, but when the wheels finally began cranking in her brain, she wondered why there was such a large shortage.  She called what I’m now going to call the worst Customer Service Department in America and was told there the modification department had put a code on the escrow account, so she needed to add more funds to it.

If I didn’t know better, well, actually, I don’t know better, but I’m inclined to think that they’re doing this on purpose.  It’s now mid-September and we’ve been going back and forth with Bank of America since March.  I wish that I was exaggerating, but I’m not.  I’m sure that their call logs and paper trail with also verify everything that I’ve said.  I was so prepared to never publish this, but good Lord Bank of America can’t you get ONE damn thing right? On my life I have NEVER seen a company so rife with such a bureaucratic shithole that they can’t tell their assholes from their elbows. I know that there are good people working at Bank of America. I know it. I know that people genuinely try to help but they can only get so far with their hands tied. You don’t need a PR team. You need a full on crisis management team to deal with the entire fucked up situation that you’ve created with your mortgage and modification departments.

When I would read the stories of how Bank of America foreclosed on homes that had been paid for in cash, or how they threw people’s stuff out on the lawn on a home that had never had a mortgage, or how they, along with other large banks were forced to halt foreclosures because they couldn’t prove that they actually owned some of the homes, I genuinely hoped that they were one-off stories.

With a corporation as large as Bank of America, mistakes can be made even though the repercussions are high for the homeowners involved.  But after this entire fiasco, I can’t say that these things are mistakes.  I think that Bank of America is systematically not giving priority to people genuinely in need of modifications if the homes are located in less desirable areas to focus on homes and mortgages where a modification would make the most profit for the bank.   My mother, less than 7 years away from paying off her mortgage, not upside down on her home, who has made extensive improvements to her home is one of those people.  She has never been late on a mortgage payment and pays well ahead of time, even padding her payments to pay of the loan soon since every extra dollar adds up over time.

Bank of America is not taking seriously all of the people that are in danger of losing their homes.  They don’t give a shit. My coworker is always one to two months behind on her mortgage.  She was in dire need of a modification and tried hard to get one.  I saw her frustration too when Bank of America kept asking her over and over for the very same documents.  I would help her fax over documents on one day only to have the loan officer call or e-mail her two weeks later to ask for the same documents again.  This happened so many times that she lost count.  They eventually sent her a letter saying that she was in danger of being foreclosed on if she didn’t catch up by a certain date and they urged her to call the loan modification department to apply for a modification.  It made absolutely no sense because she had been trying for months to modify her loan and was unsuccessful.  She can’t afford her home since what was once a two income family is essentially now a one income family.  She has a high variable rate loan and she can’t refinance because her credit is shot to hell.  This is someone in need of a modification, but after months of supplying every document that she has been asked to supply she can’t get an answer from the bank, yet my mother, who asked to have her application withdrawn can’t get out of one she didn’t need and didn’t want.

Bank of America is helping people in genuine need of modification to spiral down into foreclosures.  For many people unable to pay their mortgages on time, but are genuinely trying to save their homes you essentially need to stop paying your mortgage altogether and ruin your credit before they even think of approving you for a modification.  But my mother, again, who does not want a modification can’t get out of it no matter how much she tries.  She is someone that pays her bills on time with a credit score approaching 800, so I understand that Bank of America wants her as a customer for as long as they can because they can make money off of her and she will pay her mortgage. She wasn’t even conditionally approved for a modification, they just put her into one immediately.  Typically you are conditionally approved as your application is being processed and you are told the lower payment amount to make.  If you are ultimately not approved for the modification you have to immediately pay the difference between the lower amount that you were paying and what you would have paid if you were not in a conditional modification program.  So, let’s say you were paying $1,500 a month for your mortgage and you’re told to pay $1,000 a month while your application is being evaluated.  Since they’re supposedly backlogged with applications, it takes them 12 months to get back to you to tell you that you were not approved.  You then have 30 days to catch up and pay $6,000 which is what the difference would be immediately or they will foreclose on you.

Not only is this regularly happening to people like Dave Graham, but it also happened to someone that I know.  Remember, I once worked for a the wholesale lending department of a large, well-known bank.  I know the bullshit that loan originators pull and I know that underwriters have some leeway with loans.  I have seen loan originators give priority to the loans that they know won’t have a problem being approved.  They handle those files first because, guess what, they, as well as the underwriters all earned a small commission on each loan that was approved and closed.  If you have 50 loans on your desk, you’ll give priority to the ones that will earn you money and get back to the ones where you suspect might not make it through to approval.  While I was in training I used to be the one to clear the non-priority loans that originators had sitting on their desks sometimes for months at a time.  So, Bank of America, you can’t bullshit me.

I want everyone who has ever been burned by this bank and others to stop bending over and letting them fuck you over.  Remember it was YOUR bailout money that allowed all of these banks to buy their counterparts and grow to be so big that they can’t do basic shit like removing a code from a loan.  It’s not the computer’s fault. It’s plain and simple human error over-and-over again.  Codes don’t magically jump onto computers themselves.  Some idiot has to put it there.

To the people from Bank of America reading this, a big fat New York City FUCK YOU. Fuck your bank. Fuck your mortgage lending department. Fuck your modification department.  Fuck your customer service.  Fuck your executives. Code 6 this bitches.

fuck you - Bank of America
Help me make this go viral.  Hit one of those share buttons below and tell your friend about the steaming pile of horse shit that is Bank of America.  If you’ve got a story to share about a horrible experience with Bank of America, leave it in the comments below. Images are owned by their respective copyright owners.

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101 thoughts on “F*ck You, Bank of America

  • My father died several years ago with a mortgage on a property that was serviced by Countrywide and owned by Fannie Mae. After some expensive prodding from the estate attorney, they agreed to do a non-qualfying loan assumption about a year and a half later. They sent out a nice package of paperwork that demonstrated they were familiar with this type of situation and were prepared to do the assumption

    Somewhere between me and Countrywide, the application disappeared and I lost track of the situation (HUGE mistake). Because having the loan under a different TIN is a hassle, I decided to push the assumption through a couple of months ago.

    I called the customer service number and was transferred to a Spanish-surnamed lady with reasonably good English who told me there was no such thing as a non-qualifying assumption. Huh? What about the package they sent out a couple of years ago? Nope, no such thing as a non-qualifying assumption. I asked for her supervisor, and got another Spanish-surnamed lady with reasonably good English who said they used to do non-qualifying assumptions, but not any longer. I asked for her supervisor and was told since they were in Costa Rica, they would have to have someone else call me back from the United States when that office was open.

    The next day another Spanish-surnamed person called me back, supposedly from the United States. He stated that non-qualifying assumptions were against the law and of course Bank of America could not violate the law. When asked what law, he said the Truth in Lending Act. WTF???? I said it was highly unlikely the TIL Act had anything to do with non-qualifying assumptions, that another servicer on another property with a Fannie Mae loan had no problem with the assumption idea so perhaps there was some other reason the Bank would not do the assumption. He accused me of getting angry and unreasonable and wanted to terminate the conversation. I asked for his supervisor’s name and phone number. I got the name, but no number.

    That supervisor called back the next day and stated that Bank of America used to do non-qualifying assumptions but “their investor and legal partners” forced them to change their policy. I asked who their investor and legal partners were and how I could challenge this policy. His idea was to call Bank of America headquarters and ask for the corporate legal department.

    OK, I give up. It’s easier and cheaper to explain to the IRS why the loan is under a different TIN than to call Bank of America’s corporate legal department.

    So now Fannie Mae owns a loan in the name of “Estate of…”. There is no estate and no live person with assets that has any responsibility for paying this loan. Should the payments stop tomorrow, their only option would be to foreclose.

    Fannie Mae could have had a responsible person with assets and credit at stake take on the responsibility for this loan. Could have, if only Bank of America, the servicer of Fannie Mae’s loan portfolio, were not so stupid and incompetent….

    • Approved and in the sidebar too! The thing is, if you STOPPED paying all they could do is foreclose. There has to be some other alternative for when someone dies with a mortgage. I’m surprised that Fannie didn’t require mortgage insurance.

    • My husband died four years ago. Just prior to his death we refied under only his ssa#. Countrywide did a simpe assumption for me. It names me as co-borrower with all rights and obligations. First boa said they had no such document and then when I sent them a copy of mine they refuse to ackknowledge it. They say I must do another simple assum. with them, done. Now they say I must apply for a qualified assumption. The fees are $900. If I can qualify then they tell me I will need no help with my loan as I have just proved I can afford it. If I cannot qualify I will not be elegible for any help as the loan is still in ‘the estate of’ boa refuses to honnor the binding assumption done with Countrywide which lists me as co-borrower. Been fighting with them for 3 years. Don’t know what to do. I am 59, widow, raising a disabled grandson and trying to re-enter the workforce. They have lied to me and keep losing docs that I then must resend. I have necver dealt with so many dishonest folks. My home of 20 years will be lost if they refuse to put me on the loan so I can apply for help or refi with another bank. Fannie Mae will do nothing…

    • I too had a loan through Countrywide, which was bought by BofA. Not until I went through NACA to get a modification did I find out Freddie Mac owned my loan and BofA was just the servicer.
      I had perfect credit and a great job. So I had no problem living the lifestyle I wanted. That is until my health began to fail rapidly. I am fairly young, mid 40’s, and never expected something like this to happen to me.
      Needless to say, on disability, my income became a quarter of what I use to make. The only thing that got paid was mortgage. Fast forward 3 yrs, I’ve gone through my savings, sold everything possible to pay my taxes and insurance each year and happened to see a NACA event being held near me on the evening news.
      And so began my journey last Dec. with NACA to get a modification. I was told in short order that I would have a much better chance at a modification if I were “behind” on my mortgage. So I took a big gulp and fell behind. BofA requested the same documents over and over through NACA. After 4 months of this, I decided to contact my State Rep. She was able to do in 2 1/2 months what NACA & BofA couldn’t do themselves in 6 1/2 months.
      I received modification papers in the mail from BofA. It wasn’t exactly as low as NACA predicted, but my payment IS lower AND incl. my taxes and insurance. That being said,
      If your mortgage is OWNED by the Government (Freddie or Fannie) and BofA is the servicer, contact your State Rep. and ask for help! I am confident I would still be waiting for a mod. and risking foreclosure if I had not contacted my State Rep. who WORKS FOR ME.

      • BOA is just what it says – A BOA constrictor which wraps around you, squeezes you for every dollar, then eats you and digests all your money. F*ck you BofA, and I hope your greedy, money hungry corporation burns to the ground.

      • we too took the big gulp in feb 2011..my wife was told to get a loan modification to not make a couple of payment..then..no contact with bank…they would not answer thephone calls when we tried to contct them.. I consulted a lawyer because we received papers from other attorneys.. our lawyer called Boa..not in forclosure.. …in a week thy started forecosure.. blw my mind.. I live in Ohio, forclosures go thru the courts.. ..Bos attorneys did not show up for court and judge threw out their forclosure proceeding and fines.. We had 7 yrs. left to pay on our home.. Now we have 39 yrs and $26.00 a month out of $521.00 payment go towards principal.. House is underwater and is on a hill. Ha! We owe my lawyer 6 grand…..My 2 sons are jut out of high school. burned thru my savings.. I am pissed.. I feel boa should pay me back for screwing my wife and lying to her.. Yhey got 400 billion and we got nuthun.. F them and the usa.

  • The insane part of this is title to the property was held by a living trust and title never passed to the estate after the death.

    Lenders do not lend to living trusts. Instead they force borrowers to deed property out of a living trust long enough to refinance, but do not object to the borrower deeding the property back to the trust (i.e. the deed back to the trust does not trigger the “due on sale” clause). Title passes to the heirs via the trust but the responsibility for the mortgage does not. That’s fine when the heirs have equity, but not so smart when the property is underwater as so many are today.

  • Sandy, I’m so sorry that your family has suffered this incompetence. I feel the frustration in every paragraph. Let’s make sure Warren Buffet gets a copy of this.

    • It’s not incompetence. It’s corporate policy.
      Bank of America is a scum-sucking POS. They have been sued for “losing documents” sent to them numerous times, and guess what? The employees are MADE to say this, or lose their jobs.
      Can’t believe my MF tax dollars were used to bail out these leeches. I keep hearing about abortion and birth control not being covered because people don’t want their tax dollars spent on them.
      Well I don’t want my tax dollars spent to support or bail out Bank of America, OR any other big bank, OR Wall Street.
      Time for a revolution, people. We are getting f***ed up the a**.

  • Painful………..

    I tried modding/refiing one mortgage I have with BoA as well, and no dice. They would rather see me stop paying and go into default that do a refi. I might just do it since California is a non-recourse state where they can’t go after your assets.

    I did a rate mod with Citibank, and it was really painless. I think BoA is just too big for its own good. It’s going through massive firings now after Warren’s investment.

    Hope this complication works out!

  • My best friend has also sent her modification paperwork so many times she can’t event remember the number. During her review period (it might be about 12 – 15 months at this point), she has been told she is not allowed to make payments. You read that correctly, she has been told she can not make any payments on the mortgage. If she is denied, she will have to pay it all back, with interest and the penalties for missed payments. She has two kids in private school (a necessity in Chicago) and a husband with no job. She is putting the mortgage money in savings so that it will be available, but the penalities are adding up too. She is so scared and B of A is so incompetent.

  • Holy, crap! What a capturing read. I would argue that because your rant is so long, not many people will read it. BUT, your title itself will make for a lot of fun.

    Now, what I don’t understand, though this is not meant to take away from the point that BofA is a piece of shit (in your opinion), is why is the mortgage even at a point where a regular refinance can’t be done? Clearly, this home must have been purchased over 20 years ago, not at the height of the market, so it should have a shit ton of equity in it, especially because it only has 7 years remaining to pay?

    The easiest way to fuck any entity in this situation is to simply do service with a competitor. That should be the focus. Stop fighting a battle that clearly, you would probably never win.

    Hell, if both you and your brother have to become co-signers for a refinance, and it’s possible, go for it.

    • Quite honestly my mom has a decent rate and doesn’t want to go through a refinance and deal with closing costs, etc. Since you mention it this might be a good time to consider it.

    • Sanest thing I’ve read today. And while you are at it (refinancing your mom’s loan with a competitor) you should CLOSE ALL YOUR BOFA accounts. Yes, you heard me right ~ withdraw ALL your funds and put them in a local credit union or local bank. How do you think these huge banking entities keep the politicians and therefore, all the laws working in THEIR FAVOR??? They use OUR money to bribe corrupt politicians to vote for their benefit while screwing ALL OF US. Time to STOP. And its so simple even a child could figure it out. REMOVE YOUR MONEY ~ CLOSE OUT ALL YOUR ACCOUNTS with these behemoth banks and watch and see how quickly monetary policies change.

  • Ohhh, ho, lee, sh*t. I really didn’t give them a second thought until I read this. Thanks for sharing. I certainly won’t be considering them for anything other than more waste for the land fill. Also…I love the picture of the big dog/little dog add-in. Kinda funny and kinda not.

  • completely agree.. can’t believe the crap they pull! Im in the process of ditching them and getting on with my wife’s account. Will be gone from BofCrap as soon as possible!

    Their customer service sucks! I had to get a few documents from them.. savings statements a few months ago and when I requested them guess what they sent me.. my checking account statement.. nothing to do with my savings account. So I did another request.. guess what they sent me.. yup.. my checking account statement again. I swear these people higher high school drop outs!

    Im sorry to hear the issues you experience with them also.

  • As a former Countrywide mortgage holder who got moved over to Bank of America when they took over, I feel your pain. I’ve since closed my savings account with BofA, and while our mortgage is still with them, if we don’t end up moving in the next year or so we’ll be trying to refinance to get away from them as well. Their refinance offers they’ve given us have been completely silly and unrealistic.

    When closing our savings account at BofA what should have been a painless process took weeks and several customer service agents. I have to agree that they are way too big for their customer’s good. Our story here:

    How Many Bank of America Customer Service Agents Does It Take To Close An Account?

    • I do feel your pain!! I was in the same situation. However, I went on a modification and realized a year later they had taken almost 30 thousand dollars of my equity, every cent of my down payment. I have tried desperately to get it back. That was my life’s savings. I just retired from teaching after thirty-six years and desperately needed that money. I realized they would give people with a lot of equity modifications so they could steal the money. They used trickery to keep me from getting my paper work until the very day it had to be in. They said they sent it out 5 or 6 times but it never came to me. I had one day to receive it and drive it to the nearest Bank of America. I actually received it from UPS on the road and headed straight to BOA. I did not have time to read anything, just the way they planned it. I had no choice but to go straight to the bank to have it faxed or loose my property . I didn’t realize what they had done until one year later because when you called in to get your balance it gave the correct amount. The only way you could figure out what they had done was to ask for the pay off. I have tried for four years to get help. I have called everyone at BOA and any organization that helps people with situations like this. I will never give up. They stole thirty thousand dollars, my down payment, my life’s savings. I will stop at nothing until I get that money back or die trying.

  • Bank of America, I have long felt, is one of the most vile companies on the planet. I have some sympathy for the thousands of BofA employees who are about to be laid off by the company (as announced this week). But I get pleasure out of seeing the company’s stock price plummet, as more and more former customers run from this horrible excuse for a financial institution.

    I lost a great deal of respect for Buffett when he recently put a great deal of money into the company. You would think that someone with his vast wealth would consider investing only in companies that have some degree of integrity. Instead, Buffett has shown that class, honesty, and service matter not with who he invests in.

    It’s a shame that we, as taxpayers, bailed out marginal institutions like BofA. Why the government continues to reward incompetence where business is concerned (BofA, General Motors, Chrysler) while penalizing successful companies is beyond me. If you have accounts with BofA, then close them – and open up new accounts at your local credit union.


  • Sadly I am actually with BOA and to be honest I just don’t know where to go. Everytime someone tells how great there bank is I try it and after a while the get the big head and start acting like the bank I previously left. The solution for me has just been to expect nothing from them and do everything possible online. Love the bang head here!

    • Can’t you join a credit union? Most of them have loosened up standards regarding who can be a member vs. who can not. I haven’t had a bank account in nearly a decade – I’ve only held credit union accounts (in two different states); and I am able to do everything that I used to do with a bank.

  • I loved this so much I posted the link on my twitter page. I can’t tell you how many people that I have talked to that have the exact same problem with BOA. I wouldn’t do business with them for anything.

    I am so sorry you had to go through that.

  • I regret jumping on this a few days after it hit; hope it stayed viral for a bit!! But anyway, I am eternally frustrated by companies that are intentionally shitty at customer service and complaint resolution. They do it on purpose. It’s a careful calculus. On one hand, yes there are tweets and stories about how imcompetent they are, but on the other, there are thousands of customers who just give up. They can’t stay on the line or deal with the circle jerk and throw in the towel.

    It is literally the ONLY way to explain the horrific customer service in this country. Ever wonder why Comcast’s customer service mysteriouly improved over the past few years? Verizon FIOS.

    • Don’t worry it’s still hitting! It’s the #1 article on the site for 4 days running. I know that they do it on purpose. There is no other excuse for the way they do things. I absolutely do not believe that they are this incompetent.

  • As a BOA employee, I want to apologize for all that you’ve endured. I work in one of the branches and honestly I have very little power as one of the peons. I experience stuff like this quite reguarly, especially with mortgages, when I need to get to a certain department.

    BOA is definitely getting too big. I wish I could help you more. All I can suggest is that you go down to the local branch and speak with the branch manager, they will probably have to find the modificaton department as well. Try escalating this issue to the Consumer Market Manager (the branch manager’s boss) and if necessary the Consumer Market Executive. They CAN escalate these issues if they are beyond the control of the branch manager (which in this case it would be).

    I know a lot of people are having trouble with BOA. But hey, I’m just a peon and in this tough economy, I need this job.

    • Seriously not your fault, so you have nothing to apologize for. I did say that I know that there are good, hardworking people working at B of A because there are. I know that people try to do their jobs and some go above and beyond. This modification department? I’ve got whole different set of feelings for them, even though I know that they are probably overwhelmed as well.

      We’ve done the regular bank route and the poor person in the bank ran into the same headache. She pretty much sat there on the phone trying to get someone. It’s a sorry state of affairs.

    • BofA Employee,

      Can you tell me how much the bank receives every time a modification is submitted?

      I submitted once and they told me that on my records screen that I had applied over 4 times.

      I’m just curious. I am in the process of the Independent Foreclosure review and would like to add this little tid bit to the “financial damage” they caused when they sold my home of 54 years out from under me
      last November.

  • I am a bankruptcy paralegal, but our law firm also does debt resolution, short sales and you guessed it, loan modifications. Bank of America is on the top of the shit pile when it comes to these fucktarded banks. They care about no one and nothing other than their profits. Sometimes it is more profitable for them to allow your mortgage NOT to get modified at all. The basic requirements for a loan modification under HAMP are your mortgage payment(s) including property taxes and insurance must be greater than 31% of your gross income. If this is true, than you probably qualify to have your mortgage modified (not that that means you will be able to do it – they WILL ask you for 2 months proof of income over and over and over because by the time they get process it, you’ve got a whole new months to send them). If you do NOT meet these criteria, it is HIGHLY unlikely you will ever get your loan modified. You CAN’T do it under HAMP.

    I have seen many clients wait anywhere from 9-12 months just to get a TEMPORARY modification, anything permanent takes longer. These people are fucking assholes. While I understand what you said about you living on credit (and BTW, this is my 1st time reading your blog), I live on cash other than my mortgage and I want that gone as soon as possible because I don’t trust any lender as far as I can throw them. They could give 2 shits about my best interests.

    • When I said that I live on credit, I meant that I use it as strategically as possible. My mother, while she has one credit card in case of absolute emergency, does not use credit at all. She lives 100% on cashola!

      • Got ya! I’m a cash person like your mom. I always find that the time I spend trying to use credit to my advantage negates any advantage it offers – I’m one of those credit rating haters and wish I could move onto a mountain somewhere and be self-sufficient 😉

  • It’s not mortgage related, and yes it all started with me being irresponsible with my money and making other poor life choices, but I had a similar situation with a credit card.

    Like the mortgage, my credit card was with MBNA, which was later bought by BoA. I made some mistakes in my life and had to go to jail for a short time. Since I wouldn’t be making any money, I worked out a deal with MBNA to pay much less than the minimum payment on the $5000 that I owed and avoid late fees. When BoA, bought MBNA, they decided to not honor the deal. Late fees started piling up and soon I was over my limit and accruing over limit fees. When I got out of jail, I discovered that they had closed the account after the balance ballooned up to over $7 grand. Meanwhile they were still taking the small automatic payment.

    I called and tried to work out a deal, which they refused because I was already making payments toward the balance. Even though at that rate, it would have taken 20 years to pay off the debt.

    And I couldn’t change the amount of the payment because it was initiated through the credit card website and the account was closed. I spoke to 12 people in four departments. Apparently, nobody in the entire company can access payments made on a closed account. I finally had to close my bank account to stop the payments.

  • I had the same problem with Wells Fargo. Same run-around, same crap. We ended up having to short sale our house. These big banks don’t care about anything except the almighty dollar.

  • I just read this article with my husband. OMG! I’ve hated BoA for a long time because they screwed up my damned checking account, I can’t even imagine having a mortgage with them, especially after reading this. I am very sorry you and your mom had to experience this. I’m pissed for you and everyone else they have screwed over.

  • I cannot believe what you guys have gone through for this. I am so grateful i have never had such issues and our system is set up differently in Australia.

    I hope it gets sorted for you asap. I shared every way – Google +, twitter, FB, this should not happen to anyone!

  • glad I dont have an account with B of A. My bf does for his car hopefully we can close that out asap. Hope this article is still going strong.

  • you want this to go viral?
    This was so poorly written, I have no idea what a HELOC is and you dont define it. I was able to get to the part where you said your mom had 7 years left on her mortgage, then what happened? why didnt you just pay it for 7 more years?
    A bank is a business, why would you ever think they would do anything to lose money? why not just do this
    my parents had 7 years left on their mortage
    -2003 this happened
    -2004 then this happened
    -2008 this happened

    You want this to go viral and you think you need to tell me how to feel about something or tell me so many excess details that don’t mean squat to anyone, I dont give a muck “digital age” or “Me, my brother, my mother, and the hold music for Bank of America.” reading how have poor grammar and syntax.

    I’m sorry you can’t write and you can’t read and follow a contract you signed to pay a mortgage. Next time, get someone to spell it all out for you.

    • Steve,

      Sorry, you’re too late. It’s been all over the place, so my bad grammar was okay! And perhaps it was too long for you to read and comprehend, but we followed our end to the letter. It was B of A that screwed up and can not fix it. They still can not fix things even now, but thank for your feedback!

  • Just wanted to add another fuck you for Bank of America and their customer gouging policies. I’m in the process of closing my last account with them because they ran an unauthorized payment through, charged an overdraft fee and refused to resolve the situation.

    Last I checked, people have choices with who they do business with. It’s funny that I recently read in the newspaper banks are ‘surprised’ that their customers are moving to credit unions or smaller banks because of their atrocious customer service, exorbitant fees and general unwillingness to actually treat their customers as though they value their business.

  • This is precisely the reason that the protest groups are forming. The idea that a person can be treated with such indignity and apparent disregard is so appalling.
    I think this has been enough now, we have got to find a way to correct this kind of crap.
    Have you written to your Attorney General? BBB, legal help from someone who wants to make a name for themselves-pro bono.
    I have been re-reading the lead up to the American Revolution and our victory in the 1770’s.
    The victory was not because of a few men who wrote well. It was won by thousands of working class people who resisted being treated unfairly.The tea party was planned and carried out by a bunch of people with no money.there was no stated leader-they worked together. They said ENOUGH!
    Of course we have evolved and things are not as simple as 250 years ago, but some basic principles are: If you continue to treat people unfairly, they will begin to realize that even if THEY say they have more power than you-they do not. And there will be an equal back swing in whatever way.
    Good luck to you-your a good son.

  • We have been living a nightmare with Bank of America since August of 2009 when they took over our mortgage from Taylor Bean and Whitaker. Our first correspondence from BoA was a Credit and Collections call that we had not made the August payment, which was auto-deducted from our checking account. Being the good, sane person I am, I ignored the call, after all, I had no business with BoA, and didn’t want to – no notice was received that our loan was acquired and TB&W was defunct. This call was on approx. 8/20. We received a call every evening until 8/31, when I gave up and answered. This is when the nightmare begins…..

    I could go on and on, but over and over again, for 1 and 1/2 years, we submitted bank statements proving our payment was made. BoA kept closing the investigation without ever taking action, and to open, or re-open an investigation, we had to resubmit proof, via anonymous fax, to God knows who, which contained all of our financial transaction details – multiple months of detail. We had an officer at our bank write a letter, we sent everything again.

    Finally, in May of this year (again, this has been going on since August 2009), they acknowledged that we made the payment and were going to apply the payment from the funds they acquired from TBW and HUD after they cleared up the legal mess. Low and behold, they only posted 1/2 the payment. Meanwhile, we are charged approx. $300.00 a month in late fees, for a payment that was never late.

    Because our loan basically went straight to the credit and collections department, I have yet to see a normal statement that doesn’t include late charges and demand payment of the current month plus the ‘missing payment’. Because of that, I have not even been clear on what my actual payment was supposed to be — so, I rounded up. Turns out, I was paying an extra $70 a month, that was being applied to late charges, and never paying down principal or anything else.

    Finally, in September, I get a responsible, somewhat helpful (as helpful as he can be in that rat hole) gentleman to assist. He removes all the late charges and attempts to straighten everything out, and once he tallys up the half payment and overpayments, by golly, with only a payment of $250 more, we can make up that ‘missing payment’. My response? What the hell happened to the other half??? How is it up to me to make up for their error??? I have been through the cycle of incensed, then shocked, then numbed so many times I am amazed I am not on meds or committed to an asylum. I was not willing to surrender an make up that payment if my life depended on it — the principle and the situation was just so absurd and nightmarish, I know I could have ended it if I surrendered, but there was no way in hell I was going to do that….

    So now, here we are late November, and we have decided to refinance our house, sure, we’re getting a better interest rate, but the real reason is to get the hell away from BoA. They still have 1/2 payment, and have assured me (now is where you laugh our loud hysterically) that they will send me a check as soon as the payment has been released. Who knows, I’m only 47…. maybe I’ll still be around when that day happens… but you can bet I’m not holding my breath!

    I have told everyone I know our story. I do blame BoA for 2+, and probably more, years of undue stress, screaming, and overall angst. How do you put a price on that? Is the 1/2 payment worth it? You bet —

    So, our new loan is with Wells Fargo. I’ve heard some concerning thing about them, but when you’ve already been in hell, what can be worse?

    I’m looking forward to our escrow refund, the refund of additional late charges that appeared, yet again on our payoff statement, and the 1/2 payment from BoA. As I have told every rep. in BoA — and over 2 years, I think I have spoken with every one of them (spoken being the respectful term… many now have more orifices than they were born with), you’ll forgive me if I don’t believe a damn thing you say. I’m waiting for the next collection call…. what will I do with myself and my time now?

    • Oh man! What a nightmare of a story. Their ineptitude still continues to astound me. I’m not really sure why I am surprised anymore…and I wouldn’t hold my breath for the other 1/2 of the payment either.

  • Oh — one more thing… I believe the only reason we did not end up in a worse situation with BoA (foreclosed on, etc.) was that I did contact BBB and filed a complaint (2x) and filed a complaint with the attorney general and our governor’s office.

    If BoA is reporting their losses based on cases like ours, then their numbers are not reality. A majority of the losses they incur are a result of their ineptitude and inability to do business.

  • Hey Sandy, You rock. I helped my brother refinance with Shiti Financial two years ago. Totally hellish experience that was only resolved when I caught the attorneys from S.J.Baum’s office perjuring themselves by sending a law school grad without a JD to appear before the bench at a hearing then having another Ahole attest to the fact that she was the atty. The person who appeared was a male!! Opps so after I contacted the AG in NY and the Comp.of the Currency in TX we got $60k off the principle $1000. off the monthly and an interest rate that went from 9% to 2%.
    Then I started helping other people who were in trouble with their mortgages. Hells Cargo tried getting paid twice for a mortgage that had been paid off in an earlier law suit when Hells Cargo sued the original lender for fraud (ain’t that rich?) So his mortgage is a nullity and he got a free house.
    The latest case involves a couple who got a “loan” from this douchebag who had his business lic. revoked before he ever signed the papers.
    Then I discovered Moronic Electronic.Ripoff System MERS was never lic. in the state to execute contracts so that mortgage is a nullity and they too will get their house free and clear by the start of 2012.
    The bottom line is
    DON’T MOVE OUT OF YOUR HOMES PEOPLE! These assholes don’t have the paperwork that’s why they don’t negotiate they don’t have legal standing. They want people to move out so then their claim of abandonment is unopposed and they steal it back, forge more docs and sell it again.
    The banks don’t have any paperwork and that’s why they won’t help anyone.
    Wake up folks Fuck Wall St. Occupy Main Street don’t move out of your home. Go to Captain Mortgage to read more.

  • What I shared on my facebook –
    So many people have suffered through this process! And…it is not just Bank of America. Other lenders have (are) played the same game. Sorry for the language but (even as a Christian) sometimes the f-word is fitting when the frustration level is sooo high. Out of the heart the tongue speaks and a lot of hearts have been broken because of this sick process!

  • These bastards charged my parents an $18 annual fee for their credit card for over 30 years when all my parents would have had to do is call and ask them to remove the charge and they would have. Call and ask, take it off….Don’t call and ask and they’ll keep charging you year after year. Something just doesn’t seem right about that.

  • I hate B of A so much that I don’t use them even though I have a branch 200 feet from my front door at home and a B of A ATM within my work complex.

  • B of A is on the corner from my house and on the corner from my job. They’re especially accessible. I wouldn’t spit at the building if it was on fire.

  • My 1st mortgage was with country wide,and I believe BOA has no paperwork on my home. I have stopped paying them for a year and a half and I am still not in foreclosure. They haven’t called me for 8 months. They can kiss my ASS!

    • Seriously David???? Wow!! Our original mortgage was with CW also. The “paper” that BA sent us “claiming” to be our Note is a photocopy of what was signed at closing. And it only has OUR names on it, not anyone from CW and certainly not anyone from BA. We have never signed anything with BA and we have not seen anything signed between BA and CW either.

      So it’s true then; BA has to produce a note that was signed by them and CW that legally “assigns” the mortgage note to BA from CW in order for BA to have any legal claim on the property. Is that how it works?

      I’d love to know for absolutely POSITIVE that BofA has no legal grounds to foreclose because man I’ll tell you, I’d love to divert that mortgage payment over to our other bills without worrying about being foreclosed on.

      My doctor says No Stress. Yeah right! When your NOT-BY-CHOICE mortgage company is BofA, you’re ALWAYS stressed!!

      They reported to three major credit reporting agencies that we’re four months behind on our mortgage so our credit is screwed now. Nobody will touch us for a refinance or anything. We bought our house in ’05 and have never refinanced; no home equity, nothing.

      So if what they’ve produced is not the entire original note, how do we know the difference?


  • Yes Bank of America can go suck a big fat one. I have tried to do a refinance under the Harp 2 program. Tried with a couple other mortgage companies and have been turned down time after time. Because of our Debt to Income ratio and because all other mortgage companies/ banks would do the refinance under an automated system we do not qualify. Bank of America would do the refinance under a manual underwriting system because our loan is already with them, they are the only ones to qualify us for this refinace program. Yet with them we would add about $8000 to our principal in closing costs and the interest rate would be about .75%-1.25% more than any other mortgage companies interest rates. Other companies if we could qualify would only add about $3-$4 to our principal.
    Doesn’t seem right that since our loan is already with Bank Of America and they don’t really have to do much, that the fees associated with refinancing would be higher than everywhere else. Reason they are is because they know that we can’t go anywhere else for this loan.
    I heard they might come out with Harp 3, hopefully there will be some changes in new program where we could qualify with other places.
    I will not give in and pay this much to redo my loan.

  • Oh – I am right there with you!!! I just posted this on BofA’s Facebook page and they IMMEDIATELY deleted it:

    “I am SO SICK OF YOU PEOPLE!!!! We have been trying for TWO YEARS to get through to your alleged “customer service” about our mortgage. Do you call back? Nope. You lose our papers, over and over and over again!!! Then WE call customer service over and over and over again while NO NONE BOTHERS TO CALL US BACK!!

    But then YOU PEOPLE have AUDACITY to send us a letter saying that you have been ‘unable” to contact us? EXCUSE ME????

    You all have not even BOTHERED to contact us!!

    Everyone at your lame excuse for an institution should be INSTITUTIONALIZED for playing so many head games with customers – and lying to them over and over!!

    OH – and OH – this damned letter says that if WE don’t contact YOUR OFFICE by May 29, OUR request will be dismissed??

    HELLOO???!!!! WE have been calling YOUR OFFICE every damned day this week!!!

    But just like everything else you do – you’ll dismiss us AGAIN for the THIRD DAMNED TIME – and then LIE about it!!! Just like you LIED to our congressman when he tried to assist on our behalf! You LIED to your attorneys!!! And then the woman who’s name you gave us to call – WON’T CALL BACK UNTIL AFTER OUR BEDTIME!!!

    What’s up with that???? Hello??? Don’t your people know how to TELL TIME??!! You do NOT call people at 10 PM!!!! IDIOTS!!!

    And – contrary to one of your last letters requesting THE SAME information that we sent to you FIVE TIMES ALREADY – WE did NOT choose you as our mortgage company. We are STUCK with you because you all don’t know what CUSTOMER SERVICE means – you only want money and more money and more money!!

    Your sorry excuse for a banking institution should NEVER have received ONE RED CENT of a bailout because you all never did a damned thing with it but caused more grief for people!!!”

  • Sandy- Get this! When I was 15 my mom open a checking account for me at BOA. I started putting my little dollars in there. Over a year my checking grew to around 500 dollars. For a 15 year old that’s a lot of cash. One day I walk into the bank a few months later my 500 dollars grew to 34,857.98 cents. Yes, you read correctly. I was shocked and didn’t know what to do. I ran home and told my mother. Immediately my mother called BOA and told them there has been an error. We were honest and told them that cash was not ours. It wasn’t ours and take it out! It took them over 1 year and a half to take the amount off. Countless of phone calls, trips to the bank and one woman that worked there said “just keep it. The bank must not want it if they are making you do the run around.” Almost two years when they finally took that money back. I don’t know if the poor soul that money was owned too…ever received it back. I don’t even know if the bank returned that money to that person. but it took them FOREVER to correct their error… money i was trying to give back in the first place!!!!!!

  • Yeah, we got the BOA blues also. We also went from Countrywide to Bank of America. My wife and I became unable to work within three years of each other, both in our low 50’s. We fell behind on our payments for the house. Social Security doesn not make up for working 50 or 60 hours a week. Then, the bad letters came about the foreclosure. But then, we started getting letters about a three month trial period at a reduced rate. Piss on this I thought. I had heard Bank of America was an asshole about this trial period thing and would foreclose anyway. So, I thought fuck ’em. I’m not sending any money. We declared bankruptcy and took care of some outstanding credit card balances. Now we are playing the forclosure roulette game. There are so many people that are in our situation that Bank of America, (they should not be allowed to use the name of America in their title because it is unbecoming of our nation), that they can’t afford to foreclose on all of us. It is what they call “Shadow Inventory”. The bank would take such a hit if they foreclosed on everyone that they would have to get bailed out again. So they stagger the foreclosures to a limited amount at a time to keep the stock price stable. What it does for people like me is let me live here free while they they do the foreclosure roulete. And there is lots of us. The sheriff’s sale got cancelled. I get six months to get out otherwise. My house isn’t worth half of what I owe on it. Bankruptcy was the only choice for us. Bank of America can suck on my you know what and they never should have bailed out the dick heads running the company. They win no matter if the stock goes up or down. It’s the little people who end up paying. We pay for the bailout and we pay when we lose our jobs. My middle fingers are up for Bank of America. I hope you lose your ass, God willing…

  • I am glad I am not the only one on the redeiving end of anal larceny. I have been going throught the modifacation process for almost a year.After sending and resending paperwork and eceiving letters saying one thing and the next day receiving one saying something totally different. So after many months we receive conditional approval for a Loan Mod. We are put on a trial schedule of 3 payments of 2033.99 granted our original loan payments with escrow and everything were 1876.00. So we go ahead and make all trial payments right on time figuring that was the right thing to do. Our loan Mod officer calls the other day and says she has good news, we were approved.I thought great just what we needed this would really help our situation.
    When I ask her what our new payments is she tell me it 2031.01. Somehow in there minds making our home more affordable means raising our payment over 200.00 a month. Since they would not let us make payments during the process if we want to not take part in the loan program we would have to pay the pst due balance of over 12000.00. I feel llike i have been totally taken advantage of and raped by BOA. I habe no idea what to do since they wont let me refi until we have a year of paying our newly inflated payment on time. If anyone has any ideas please let me know(maybe a bank who will do a refi for people fucked by BOA) i am at my witss end. Thanks for listening..

    • I had Countrywide also, the BofA. They have been doing a loan modification with me for over 3 years! At one time, I waited for 5 months for a return phone call. Had so many different reps, it was ridiculous. I even received letters from reps that no longer worked there. I received a letter in October, 2011 saying I wasn’t approved for mod. 2 days later, I received a letter congratulating me on my approval! I made the trial period payments, then they told me not to pay anymore until further notice, even though I signed all mod papers. One month later, they said they were proceeding with foreclosure and selling my home at auction in 6 weeks for default. Confirmation for the sale was August 20. I have 45 days to get out. I should have called an attorney earlier (pre-sale), but I trusted BofA. Now it’s too late. Modifications are a scam. Trial period payments are bullshit – that is $$$ they collect to pay their attorneys. They drag you out until they have manpower to foreclosure. I’m a single mom who has lived here 20 years. I literally have no where to go. They can KISS MY ASS as well!!!!!!

  • If I have to give up my home I will remove all good appliances and replace with crappy ones. The wood floors will be ripped up and replaced with linolem. I will replace my nice sinks with basement sinks. I will over lime my grass and pull out all my nice shrubs. Then after they sue me I will claim bankruptcy.

  • Banks change the rules at their convenience, call me if you want to speak with an attorney who has successfully won cases against BofA (principle and interest rate reduction, homes returned that were foreclosed on illegally, etc.) 800.255.0891 x2034

  • BOA is a piece of shit! Google history of Bank of America and you will find that it started as a mafioso run bank designed to legally fuck people out of their money! Run from this so called “bank of America” as fast as you can!!

  • On 12-17-2012 after months of waiting on my loan mod the rep tells me that I had been approved by underwriting on 12-14-2012 and to wait for the docs. On 12-24-2012 Christmas eve I get the FedEx package stating that I had been turn down due to “not in the financial interest of the investors”… what the hell!!!!

  • bank of America can suck a fat dick i did the same bullshit with their loan mods i did that trial payment thing then they denied me then they sent me another trial payment and i was like fuck it why am i gonna pay another 900 bucks a month so they can fuck me again i don’t think so im gonna continue to live in this house until they can force me out of here people these banks don’t give a fuck about anybody they want to kick you out of your home so they can sell the home to some other sucker on the cheap i hope these bank of assholes executives catch herpes on their dicks and pussies its time we fight back peace

  • We are all being fucked by the banks!!!!! A normal person doesn’t have a chance. We are in a major recession now, contrary to what the government says or what the newspapers report. And yes, Bank of America is listed as #1 in worst customer service, and least caring and helpful of all banks in the US. Money rules the world and it rules your life. Unfortunately it always will,and eventually will be our country’s downfall.Just wait for it; it’s just around the corner…

  • I’ve been dealing with BOA for 8 long tedious years! Started in 2009, we were current on our mortgage payments but hubby lost his job – great recession * construction industry was hit hard. I called BOA to ask for a 6 month (or 3 month) deferment so we could catch up once he was employed again. We had 3 months of resources saved and I was employed, my income took care of the basics (utilities, groceries, etc). From March 2009 to July 2009, I called 8 times … each time I was told we must be in default for assistance, but each said different time frames of default. (10 days, 15 days, 30 days, 45 days, 60 days, 90 days, 120 days). In August 2009, President Obama was on TV talking about MHAP/HARP/HAMP. So I called the next day asking again for help. Took my financial information and was told we didn’t qualify. Me calling and being told we didn’t qualify went on for a few months. In Nov 2009 I received a foreclosure notice for Dec 1, 2009. I did an internet search for HUD / FHA since our mortgage was FHA insured. On the HUD website there was a link to see if you qualified for assistance. I filled it out, HUD said I qualified. So I called BOA … rep said we didn’t qualify. So I went back to the HUD website … applied again, again we qualified. So I called HUD. Long story short, HUD referred me to a 3rd party consumer credit counselor. Called them, was assigned a CC, she took my info, said yes we qualified and proceeded to call BOA (3 way call & she recorded the call). Miraculously we qualified 3 hours after I was told we didn’t! So the Dec foreclosure was postponed while our application was processed. We called back 4 times in Dec to check the status. Each time we were told it was still being reviewed. On Jan 8th I received a letter from the BOA attorney’s stating our home was sold in foreclosure on Jan 5th, BOA bought our property. It was after 5pm, too late to call. So Monday I called the CC and she did another 3 way call / recorded call to BOA to ask “What the hell???”. Thank goodness the BOA rep murmured while she read through my account … it had not been assigned yet / reviewed. Rep said she would escalate to find out what happened. CC agent said she would also make some calls. I checked the mailbox, BOA cancelled our homeowners insurance too! A few days went by, CC agent called, said I needed to file a complaint with HUD and the Texas SAGO. So I (we) did. Long story short … Between Mid Feb to mid May 2010: the sale was rescinded, BOA office of the CEO got involved, lender insurance with BalBoa was purchased and added to our escrow account, we were approved for MHAP/HAMP, paperwork was sent to us, we signed the paperwork in front of a notary, sent them in, confirmed papers were received, and our 1st trial period payment was due on June 1st, 2010. Sent 1st trial period payment in on May 28th, 2010.
    On June 4th, 2010 I received a letter from BOA attorney’s office telling us BOA foreclosed on our property on June 1st, 2010!!!
    It is now over 8 years, we still reside in the home, we still do not have any modification, still haven’t been helped, we’ve applied over a dozen times since 2010 for HARP, HAMP, MHAP, PRA, HAFA, 2MP, EHLP, load modification! I complained to the DOJ, Texas SAGO, HUD, FHA … nothing! I am beginning to believe all government offices are full of corrupt swamp dwellers being paid by BOA! And in Sept 2017 BOA transferred the servicing of our mortgage to a small local (Texas) company … because they don’t have to comply with the DOJ settlement like BOA, Chase, Wells Fargo, etc.
    Friday’s mail contained a letter from the local mort. servicing companies attorney’s office (same attorney BOA uses :/) stating they are proceeding with a foreclosure. No sale date as of today (I just checked).
    If there is an attorney in the state of Texas that will help me sue BOA for $5 million, please leave a message below.
    *** Lawsuit points: Dual Tracking, breach of contract, fraud, deceptive practices, insurance fraud (see QBE/Balboa settlement), predatory mortgage servicing, servicer manufactured default, practice of non-compliance of the DOJ settlements, BOA systematically lies, BOA violated RESPA, 8 years of BOA failing to make timely decisions on our modification requests, BOA stonewalling, BOA made numerous hard inquiries on our credit reports / scores AND did not remove the 2 rescinded foreclosures (ROBO-signed foreclosures!) from our credit reports and has continued to report we are past due 120 days for the past 8 years … all of which has lowered our score! And on 2 separate occasions (2013 and 2014), the BOA loss mitigation dept sent us letters denying our application due to us having low credit scores! <— Hardship they inflicted upon us! I have sent in numerous documents over and over again, many were faxed from a BOA bank branch, only to have BOA acct manager say they never received! And we've had over 16 account managers in 7 years. And from June 2010 till Feb 2011, my phone calls to BOA were routed to the REO dept or the foreclosure dept due to a code on our account! And on 3 occasions in 2010, BOA sent back payments made because of the codes! After the June 2010 foreclosure, BOA had our names removed from the property records which cancelled our homested and somehow they claimed the pool was added in 2005 (it was added in 1992 by previous homeowners) so our property taxes are double (almost triple) to that of our neighbors. Then in 2012, BOA bought our property? How can they buy something a 2nd time that they claimed in 2010 they owned??? If they've owned the property since 2010 or even 2012, does that make us squatters? LOL Do they even have the legal right to claim ownership of the property? Isn't it illegal to intentionally lie on property ownership paperwork? How does one go about proving property title ownership? Cause I'm pretty sure that BOA was scrambling to correct their fraudulent records from May 2011 to approx July 2014 … we barely heard from them and during those 3 years our account was in a continual "review" / our application as under review and we kept having to send in current financials because after 90 days BOA said our application was stale.
    I've made 3 claims over 6 years due to roof damage to the BOA insurance … we have a major leak, after many arguments with their insurance company for low balling the repair cost, insurance sent a check to BOA who will not release so we can get the roof fixed.
    So ummm yeah … 8 years of stress, sleepless nights, raising my blood pressure, costing me my job (no personal phone calls allowed / over a dozen with BOA), the deep dark depression, the thoughts of suicide, feeling distraught, having no where to go … being homeless!

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