Bank of America
Reviews and Complaints

Your complaint isn't going to reach FIA. I believe that as long as you have their card, they can call you. A friend of mine receives a similar call every day from her credit card company. Initiating a call and being nice may get you further than being "infuriated". Remember, you attract more flies with honey than vinegar ;]

Since June of 2010 I have been in touch with BOA (my original loan was with Countrywide). They have NEVER contacted me, though I have called them at least 1x per week since June. August 7, 2010 I faxed paperwork required to BOA CEO line. Sept 19, 2010 I was finally contected with Loan Negoitatoer's Manager (Dandella Harris, negotiator is Rashimi Kumar) who told me that they had fedexed paperwork to me, but I had called several times and they showed that the paperwork was scheduled to go out but never did. When I spoke with a manager, I was told that it would take 6-8 months to get approved and that this would not stop foreclosure. I have been making payments as I could, payments have been partial to cover principal, insurance and taxes. I am on SSDI (and am scheduled to be re-evaluated in 2011. I receive $1655 per month. My mortgage was $980 and has gone up to $1020 because taxes went up. Yesterday I got a notice of intent to accelerate mortgage and they gave me until 10/20/2010 to pay $1750 or I would be indefault and accelerated payment in full would be due at that time. I payment was not received foreclosure proceedings would start (they also said that they would visit the property to see if I (or anyone)was living at address and if there were any damages, etc...). I have a ton of medical bills that have gone unpaid because I tried to make mortgage payment. This is a FHA loan at 7% interest.
I have done everything I can to not get to this point to no avail.

USMCNJ same thing with me. Loan balance went up $5000 so new mortage amount was $960. Interesting though, said I would not have to make any payments until Feb, but they accelerated interest and late fees. They told me I needed to earn more money, Duh, if that were to happen would not need loan mod, BUT, I am on SSDI and am not allowed to work. Filing a complaint with USADA (US Americans with Disabilites Act.)

The banks took the our money... not the govt's money and used it for investments and bonuses... not to reinvest it in us...

I to, was a victim of 6 months...
They denied me the 1st time (3months), then called me and said my case was going to reopen (another 3 months)... At the end of it, I had to pay back the rears I owed from the trial payment balances. $4000... and I received an intention of forclosure.
But here is the kicker, in order for them to start forclosure you have to be 3 months behind. I was only 2. So its no wonder why they are under investigation for forclosure fraud. The banks are not here to help, they are only in business to loan.

They have 1 excuse after another. I have only been making partial payments and even though have been trying to do the loan modification for the 2nd time faxed over reuired paperwork (1st time in August and again Sept. 19) have just been told that this will not stop foreclosure proceedings. Credit is totally ruined, am on SSDI so a $1020 payment is not possible

I too have contacted CEO office and they did connect me with people (sometimes though I was on hold for 20+minutes). But have been waiting for anykind of communication since June of 2010

I just got a mod through BOA...for the first 6 months I did the same as you...got nowhere, I complained to the office of the president and got results fast...I can get the info if you want. email me...ksriff99@gmail.com

I have my mortgage at Bank Of America. I made two payments in April. One payment was for April's payment, the other was for May. Bank of America applied my May payment to principle. I log in June 1st to make my payment, I could not make my payment because they are asking for a minimum of two payments. They are also showing me 30+ days late. I've been calling Bank Of America to correct this for the past two weeks, they keep telling me it will be corrected in 2 to 3 business days. Its been 3 weeks. Meanwhile, I am being reported as 30+ days late on my credit report. On the 15th of this month they are going to add another late fee. Its bad enough that I have been unemployed for over a year and I am doing what I can to keep current on my mortgage. AND.. I have a potential employer doing a background and credit check on me. I CAN'T have my mortgage showing late right now under any circumstance. I can't believe they jerk people around like this.

I was notified last night that I was late for my Oct. payment. I went into my personal checking to determine if a check was processed, and sure enough- it showed that it cleared before its due date so I called BOA that night and told them my situation. A lady on there told me that it will contact credit report agency by 6 pm today if they don't receive my fax. I had to call back today to see if they got the fax since I don't trust them to do anything right. Another person said that it takes 24-48 hours for a fax to get through which is stupid. It was their error that they screwed this up and could not help me to resolve this quickly. I spent so many hours and time to clean up their mistake and still have no assurances that they will fix this issue especially with the credit report agency. BOA always has poor service but it has gone beyond that. I couldn't get a direct answer who to call specifically rather than get this roundabout over and over again.

When my sister died in March, 2017, Bank of America mortgage called and asked to speak to her. I told them that she had passed away. I was trying to make funeral arrangements. Bank of America called again. I asked Bank of America to give me some time to sort through her financial documents. Bank of America called again. And again. I did everything in my power to stop the phone calls, but Bank of America kept calling, asking to speak to her. Bank of America continued to call and reduced me to tears because I had to explain to them at least a dozen times that she could not come to the phone because she was dead. There was nothing I could do to convince them that she was dead, and they should stop calling. Clearly, there was no internal communication within Bank of America, and absolutely no concern for the fact that she had died and her family was grieving. Now, they refuse to talk to me, as I am trying to retire the mortgage and terminate our business with Bank of America.

J & Th!sman - Don't worry about Turd-thats-stupid. He's a bitter troller that goes around only leaving negtive comments because either mommy didn't love him or some other pathetic self-loathing reason. Look at his profile history! Pathetic. Sad really. Someone need a hug Turd?

If a bank won't deal with you with honesty and with a logical presentation of the options they are offering, then how is a person supposed to make decisions about what to do? Well, I think they don't want us to be able to figure it out. They don't want to help us that is for sure. They don't want to forgive excessive fees and they don't want to extend the time of the loan. They don't want you to succeed. They don't care if you can't make payments that are more than 50% of your income and they don't care if you have a chronic illness that requires a lot of expense for treatment. They just don't care about anything but money - theirs. To hell with normal, everyday folk who want to work out a real plan to pay back what they owe. They push us into bankruptcy or having the house sold right out from under us. Greedy, lousy excuse for a business.

I used to work for Bank of America in the mortgage operations department and let me tell you that you are by far not the first person this has happened to. I was disgusted on a daily basis at how horribly run the entire company is. I am honestly shocked that they are still in business. It only got worse after they bought Countrywide. They started making overtime MANDATORY at 8-16 hours per week and having mandatory Saturdays. What was funny to me is that... here is this company who already sucks at doing mortgages... Bank of America legacy (as they call it internally, referring to the original BOA prior to Countrywide merger) who already sucks at gaining market share. They can't seem to figure out why though so they just keep buying up other lenders and making them adapt to the "Bank of America way", which sucks to begin with. So they brag about their expansion although they did NOTHING to earn it except rape people in fees on their banking side so they would have enough money to keep buying out competitors. NOW here comes along their biggest competitor, COUNTRYWIDE in all kinds of financial ruins. Where as most logical minded folks would RUN from this sinking Titanic, BOA decided... LET'S BUY THIS HUNK OF CRAP! Then, as if they couldn't get any dumber, they retain MOST of the same upper management IDIOTS who drove Countrywide into the ground! I worked there for 3 years and to be honest I truly can't understand how they are still in business. The majority of their management structure is people who have NO mortgage background to begin with. As a mortgage professional for the past 9 years I can honestly say I love this business because it can truly be amazing when you deliver great products to great people and help them accomplish the America dream of home ownership. Unfortunately BOA has found the way to suck any possible joy out of this process in an effort to just close more and more loans... faster, cheaper more. That should be their company motto "faster cheaper more". Their sales force or "Loan officers" are ABSOLUTE idiots. They are mostly literate but not all of them. Honestly your BOA sales rep probably knows about as much about mortgages as you do as a first time applicant. They provide them no real training except how to take an application and to shove it into the system. I never once had a single loan officer ask me if I thought the applicants could actually afford the house they were buying. It was only just "how can we make this loan work?" Not that I can blame them because their income was largely based on how many loans they got shoved into the system, not how many of them actually closed or continues making their payments. Internally of course they used to "claim" that customer service was a high priority. Oddly enough 100% of our bonus was based on production and low QA errors so that the loans would be sellable on the secondary market. They tried to base it on customer service for a short period of time once however that didn't work out because literally NO ONE could hit the meager goal. That doesn't mean the employees were bad... it means the company isn't willing to slow their process down enough to allow people to do their jobs completely in order to actually satisfy the customer. They honestly just refuse to accept the reality that the faster you work, the more quality suffers. I tried pointing this out to my site leader once and she told me "we have to have both". As if she could redefine the laws of nature (that going faster leads to sloppier work) just by refusing to accept reality. It was absolutely maddening. I profusely sympathize with any non mangement level employee at BOA because we were all like battered wives and/or sweat shop laborers. I've been gone for over a year and I'm still on anti depressants. I worked there last year when they announced to all of us that because of the economic climate, they were not doing annual raises. I found that HILARIOUS since they suddenly found the money to repay their TARP funds and to pay Ken Lewis a couple million dollars. So here we were, the people on the bottom rung, holding that [censored]hole together, working "mandatory overtime" so they could cut our pay and still repay the government just in time for upper management to get nice fat bonuses. Even when I worked there I secretly wishes that the government would let them and all these other big banks just fail because they TRULY deserved it. Bank of America should have gone down in smoke with all of the other big banks and created an opportunity for the little man and local banks to make a come back. The political scare tactic worked though because they made everyone think there would have been another great depression. Little did anyone mention that the great depression was also sparked by severe droughts, hunger and disease which is what helped cripple the stock market which was much more heavily based on agriculture then. Long story short as long as there are still credit worthy people in the world and still some folks who have money, there will be lending. It just wouldn't be this HUGE "big box" model of lending we are so used to today where the end user "customer" means absolutely nothing. One thing I have learned from working at BOA is that the employees and customers mean nothing. The shareholders are the only ones with a voice and their voice is always the same... MORE PROFIT, LESS COST. Whatever happened to slow steady growth by delivering a quality product and earning repeat business? I guess that is just too slow for CEO's who want to make 30 million dollars a year and retire by the age of 50 as millionaires. For the life of me I can't figure out WHO in this entire country is worth paying more than the president of the United States. That may sound silly but honestly, what could one person possibly do to justify making millions and millions of dollars a year? Unless you have cured cancer or AIDS, or have single handidly rescued some third world country, there is NOTHING you could possibly do to be worth that much money. It is just pure old evil greed. The sad thing is that even if it would be possible for one person to create some type of cure for some type of disease, the drug companies would quickly buy they up and patent it for themselves anyways. I truly believe in capitalism however I also think the only way it can work is to allow it to fail when people get too greedy and unfortunately, we didn't let that happen. Now most of the people who have gotten rich based mostly on circumstance, can keep their money and keep sucking it from those of us who actually add value to society. We little people have to quit taking loans from these pigs and start becoming cash based like people used to be if we want to suffocate these greedy ###. I am almost 30 years old and have now paid off all of my debt except for my mortgage (which is now my #1 priority over the next 8 years) and once that is done I will never take another loan from these big companies again. If I can't buy something in cash I can't afford it and don't need it. I want my money to stay where it belongs... with ME! I went WAY off topic from your original compaint but short story made VERY long, I couldn't agree with you more.

If you are trying to do a loan modification with Bank of AMerica prepare to spend at least 12 months and still not even have an answer yeah or neah. They are absolutely one of the worst banks to work with. They have so many 3rd party groups working for them that they don't know what each other is doing. You will either wait 6 months to finally have a package mailed to you once you have been pre-qualified and then when you finally get a package then you will get 3 or four from different places. A lot of the people working there don't even know what they are doing. You can call in for a status update on your Modification process 4 times in the same day and get four different answers. Be prepared to fax in the same documents almost weekly because even though it is within the same bank they do not share docs within different departments. Good luck

I had a Country Wide loan, then B of A took over and then some. My new payment went up $400 a month and I now get several tax supplement bills for an extra $500-700, I HAVE AN IMPOUNDED ACCOUNT. For two years prior to this bank everything was fine. I camped out with NACA, with no luck on a modification in two cities, but funny enough, even the teenagers I spoke with at these events couldn't explain the mysterious new raised payments & extra taxes. And showed no interest in finding out or asking anyone within
B of A!

Oh yeah, watch out for the "Late Charge Pyramiding" it's illegal per FCC. THEY DO IT! If you don't understand it look it up.

Honestly I would balme any one for getting a refinance with a company that does "High Risk " loans just to get away those frigging Idioats at Bank of America!

Hoooray for you sock it to those jerk offs!

I think BOA sucks! I think they should shut them down, they harrass people, everythig the person wrote was true, I cannot the a company that is responsible for a persons home is allowed to conduct business in such a crude hateful way. This is horrible business and needs to be stopped! Bank of america needs to get knocked down in the dirt and never to get to the point it is at now! Obama should have never bailed out those ungracious Idiots, but just at who the Idiots are who elected him! I suppose these ingorant arstes that elected him wanted to feel what it was like to play "Deliverance" and really take up the kiester!

We used another bank for our 203k loan. Received our 1st disbursement @ closing. Money was set aside for the final disbursement @ attorney's office. We closed June 28, 2010 and our construction was completed by July 15th. Bank of America bought our home loan within that 1st two weeks. We had to wait 2 weeks for it to show up on their system. We faxed final documents and they say they never received them. We emailed them to a rep there that was kind enough to give me his email address. Then, they lined up an Inspector to go out and check the property. Two weeks later when we called they said they had to find another Inspector. This took another 2 weeks. We are now into mid-September and still no check. We have paid all of our contractors out of pocket to keep from being sued. When we called them as how to handle this, they said get a paid receipt. When we sent the receipt in on September 10th, you guessed it! that added another 7 to 10 business days to the final process because they have to review the file again.
I done business with Bank of America for 15 years and plan to move my business and personal accounts from them because of this.
If we ever get this loan completed we will probably look for refinancing elsewhere.
Unfortunately, Bank of America is now buying up 80% of the loans on the market today (this was told to me by our loan officer).

I am fed up!

Run and run fast from these 203K loans especially by Bank of America. They have horrible communication and do not care whether the home owner is going to be sued or not due to lack of payment to the contractors. Inform your contractors that the process will at least be a few months after the work is done for the final payment to come. My contractors started at the beginning of May and done by the beginning of July. Took from my closing date at the of April until the beginning of June to get the initial dispursement after one contractor was already completed. Promised by supervisors 2 weeks ago that the checks would go out within a few days. And what do you know, nothing came. Then was even given tracking numbers for the final disbursements checks and again, nothing. They are now investigating the problem. I don't want it investigated. I want it done, completed and over with. I am to the point of being willing to eat closing costs again to go to another bank just to get the hell away from Bank of America.

I am a General Contractor that had the misfortune of getting involved with 4 of these 203K loans. All 4 came in at the same time or after the first one I would have never done another one. Everyone of them the first check was 90 days after closing, so here are people that per there contract they have to move in to there home but can not get supplies or materials to start. Then the worst part is after completing the work, invoicing, owner returning final forms and having the final inspection by the appraiser ALL for took another 90 days to get paid on. One of them a supplier filed a lien since they had not been paid due to Bank of America taking so long to pay. Since a lien was filed BofA would not release the final check to pay them because of the lien that had been filed for non payment. I can really start to make your head hurt. EVERYONE PLEASE WARN ALL FRIENDS AND FAMILY NOT TO GET INVOLVED IN A 203K LOAN!

There have been numerous complaints about "Bank Of America" on this website, and also on /link removed/ My friend has her townhouse mortgage from "Bank Of America", and she just refinanced her townhouse to get a lower interest rate. When she mentioned that her mortgage company was "Bank Of America", my heart sank. I hope that Deb realizes what kind of a company she's dealing with. Let the buyer beware!

I am having a similar problem, Just one house, but they started sending my payments to an account called "Other Unapplied", then in November the phone calls started. 3 or 4 a week, quite rude.

That made me start looking deeper, I have been prepaying my principle, and I see money being syphoned off. $60 In february, then another $40 in May, then $360 in October last year.

I will be filing a suit in about 10 days if its not all resolved

By the way, if anyone is interested, I am with Centennial Bank in Arkansas.

I am with a different bank, but they have just done the same thing to us, and it's outrageous! They took things from my account that had already actually posted (not pending) several days ago and rearranged them to look as though they hadn't posted yet, and then posted a $500 check that had just been cashed as if it happened before all the other transactions! They keep giving me the run around and telling me there is nothing they can do. They won't even look into it, or acknowledge the obvious mistakes I have tried to point out to them. This should be illegal and it sucks that we basically have no protection from this! Yet, you can't really get by wiothout having a checking account these days.

BofA made an alleged $38 BILLION in overage fees. This bank should be investigated as they are pure evil and the "higher ups" (with low brow attitudes) who work for them, opportunists!

I can totally relate. BOA has auctually lost payments that I made to the Bank for my mortgage and said I auctually never made them. I am trying to find a lawyer right now to help me get out of this mess! BOA states that to reinstate my loan that I nned to make the lost payments and their legal fees. This is all after I faxed them all of the documentation from my main bank " Chase " showing I made these payments! This Bank is BAD NEWS !

Brian

Blame.

People are unbelievable. They don't want to pay obligations and blaim a bank when money is deducted. Smh

i am not agree as of july, august chargefrom my acount, wich they got $207.60

i am not autorizing get from my acount to get as of july.august credit back my acount wich is $207 16

I put a stop payment for ACH in the amount of $80 and $168. They told me that it would cost me $30 in which I paid. they said although it is 2 transactions for same company not to worry. 3 days later $168 was taken from my account along with a NSF of $35. I then called the claims dept. and said to file a complaint and that they were sorry for this should have not happened but in the meantime they would credit my account the $30 in which I did. 2 days later $80 was taken from my account. I am filing a complaint tomorrow but since when does BOA return funds that allowed to be taken out of account when I signed a waiver not to have an overdraft policy in the first place and paid for a stop payment fee. Claims department also told me that that they are not suppose to tell customers that a ACH stop payment is not guarenteed but yet they will not tell you that at time receiving there $30 fee.

gkenigmatic, the bank claims that this impossible. The say nothing can be done with the transaction while it is processing. I was litterally on the phone all day yesterday and made no progress, the situations is still not resolved.

I am curious if anyone was successful with a lawsuite, my ACH was for $555 and I too have made every attempt to resolve this staying on the phone all day today, now being told that the transaction is in processing even though my account is overdrawn because of it, which means they cannot stop payment or move forward with the dispute until it actually "posts to my account"...go figure another way to earn od fees from a mistake on their part. Is there no accountability anywhere in the banking or credit card industry? Because of these types of mistakes my small business is barely hanging on...
So sick of this...

JFair, I am interested in the class action suit. BOA Credit Card keeps taking my full CC balance from my checking account balance to pay off my full balance on my credit card (even if the money isn't there). I switched to minimum payment over the phone and they did it again! The second time I recorded the phone call (notified them as well that the call was being recorded) and they stated that they would reimburse my account... But they never did. We are talking about a $5, 000 dollar unauthorized ACH. They have a done it twice and it has over drawn my checking account to pay the credit card account.

http://www.gregorygarver.com/boa-credit-card-rip-off.html

I have banked with Bank of America for years and they are pretty good; however their credit card department is awful in my opinion. It has been over a week and they have not returned my money. I was forced to file an unauthorized ACH. Next step is court...

I just had a strange situation occur in which my B of A credit card transferred $100. to my personal checking account called (Overdraft Protection) in which the amount was not enough, therefore being hit with the $35. overdraft fee any way. I canceled this so called service almost a year ago and have not seen a transfer from my credit card to my checking account since August of 2009 until a few days ago. Meanwhile, since August of 09, I have accumulated at least a couple of $35. overdraft charges a month from my checking account with no so called (Overdraft Protection) from my credit card. "Very fishy!" I am currently waiting an explanation from an investigation that they are doing at this time. If this has happened to anyone else, I would appreciate hearing about it.

I had the exact same thing happen to me, and it's been 8 days. They still have yet to refund it and keep telling me they are working on it. I have no idea why the FDIC regulations don't apply to them. I'm filing a class action suit if you are interested please contact me.

I know what you are talking about and Bank of America is ridiculous. I had a payment go through on the wrong date and I saw that it was happening, so I went to put cash in. I had an item pending on the 21st, deposited cash to cover everything on the 21st, and then on the 22nd they showed the item as going through on the 20th. They deny any knowledge of pending on the 21st. They DO change dates. The person commenting is ridiculous. There are shady practices going on... think about it!

I'm having the exact same problem and its totally ridiculous. I'm actually paying them out of a B of A account. I know what happens when I screw up my account: they hit me with the $35 overdraft. B of A has always known what the story is regarding former TBW customers yet they would rather drive good folks crazy who have never been late or missed a payment. I would like to see them held accountable because out of all the phone calls and harassing letters no one bothered to tell me by the way we know there's a problem and we won't start the foreclosure process on your home. A class action should be taken against B of A.

I had the exact same experience. It's perfect that you provided the required proof. In order to get it resolved you must: 1 - file an online complaint with Office of the Comptroller of the Currency (they are responsible for BoFA's oversight); 2 -file a complaint with your state's Commissioner of Banks; 3- most importantly email a 1 page letter to the President of Mortgage, Home Equity & Insurance Services at: Barbara.J.Desoer@bankofamerica.com. The last leg is what did the trick, but you must do the other 2 in order to have a paper trail and to stop annoying calls from the "Home Retention division (aka debt collectors). Once you tell these folks you have filed a complaint, the calls will stop. BoFA is required by law to respond to these complaints within a certain period of time. My problem, which was the same as yours, has been fixed. Be sure that they give you a letter for your files amending your credit report and that they provide a corrected 2009 Transaction History so that you can claim the correct amount of interest on your tax return. Good Luck!