Bank of America Mortgage Department
Complaint
Russ
Country: United States
I caution any one that has a mortgage with Bank of America to be VERY CAREFUL! My dad and I share a mortgage with Bank of America, and Bank of America changes their billing address from time to time and if you do not receive an address change from them or you miss it in the mail Bank of America does receive your payments but now it is at what they consider to be the wrong location and this department holds your payment and will not forward your payment to the new billing address.
Then when you fall behind on your mortgage they foreclose on you! This is what happened to my dad and I had to file chapter 13 for him to keep his property! I make payments for my dad via online banking with my bank and my bank actually sent BOA a letter asking them to withdraw their foreclosure proceedings, cancel any late charges applied to his account and restore his good credit because my bank had proof copies of all the checks that went un-cashed.
They were sent on time but to the now wrong location because Bank of America had changed their billing address and unfortunately for us we did not receive a change of billing address notification this time, yes they have changed it before but we caught it that time. The request from my bank was refused! Why? My bank told me straight up that this is how Bank of America got to be so big! They deliberately change billing address from time to time and if you miss it for what ever reason Bank of America then forecloses because they don't receive your payments!
They receive the payments, but it's the wrong department and they just don't forward them! Proof? After chapter 13 was filed we received back one of the first checks that BOA claimed that they didn't receive, it was dated pre-foreclosure! They just flat held it until the chapter 13 was filed then sent it back. Had I not filed the chapter.13
BOA would have legally defrauded my 82 year old dad out the land he worked so hard for most of his life. If you have a mortgage with Bank of America "BE CAREFUL, BE VERY CAREFUL"! Check up on your billing address at least every six months. Thanks.
Then when you fall behind on your mortgage they foreclose on you! This is what happened to my dad and I had to file chapter 13 for him to keep his property! I make payments for my dad via online banking with my bank and my bank actually sent BOA a letter asking them to withdraw their foreclosure proceedings, cancel any late charges applied to his account and restore his good credit because my bank had proof copies of all the checks that went un-cashed.
They were sent on time but to the now wrong location because Bank of America had changed their billing address and unfortunately for us we did not receive a change of billing address notification this time, yes they have changed it before but we caught it that time. The request from my bank was refused! Why? My bank told me straight up that this is how Bank of America got to be so big! They deliberately change billing address from time to time and if you miss it for what ever reason Bank of America then forecloses because they don't receive your payments!
They receive the payments, but it's the wrong department and they just don't forward them! Proof? After chapter 13 was filed we received back one of the first checks that BOA claimed that they didn't receive, it was dated pre-foreclosure! They just flat held it until the chapter 13 was filed then sent it back. Had I not filed the chapter.13
BOA would have legally defrauded my 82 year old dad out the land he worked so hard for most of his life. If you have a mortgage with Bank of America "BE CAREFUL, BE VERY CAREFUL"! Check up on your billing address at least every six months. Thanks.
Comments
My lawyer and Chapter 13 Trustee contacted BoA to remind them that they agreed to accept direct payment from me when my payment schedule was affirmed. The Trustee paid the penalties BoA claimed although it wasn't our fault. I'm still angry about that.
Last month, 6 months after my Ch 13 was successfully discharged, BoA refused to accept my payment again. No notification. No reason given. I got my check back in the mail a month after it was due.
I spent 2 hours on the phone before BoA admitted its error. Today I received a Default Notice in the mail.
My only advice is to work with your attorney and insist that he/she fixes the situation. We "common people" can't fight these monsters without help.
Also, as a condition to the short-sale both Wells Fargo and Bank of America wanted cash. Bank of America (BAC HOME LOANS SERV LP) was to get $2,923 and Wells Fargo $2,177 (total $5,000) to allow the short-sale. Bank America came back and said they would not allow the short sale unless I paid them $6,000 instead of $2,923 as settlement for the second balance. I sent the Attorney (The bank’s representative) a wire as required for the total amount of $8,077. When the attorney received the wire of $8,077, he called me and told me he could not accept the total but wanted me to send the amount of $ 4,923 as a wire to him and a separate cashier’s check to Bank of America. I did as the bank’s attorney required. The home was sold and they received $2,923 (5/2/2011) on the HUD Statement from the sale proceeds and $3,077 (5/03/2011) directly from me totaling $6,000. In their agreement it indicates they will report the debt as “settled for less than the amount owed” and waive the remaining balance. Instead they report it as a Charge Off and have been told they sold the loan.
I have sent certified statement to BAC HOME LOANS SERV LP requesting that they correctly report the settlement to no avail. They even still show the loan on my bank statements and report to all three credit reporting agencies that I owe them. Each time I have called over the months, the short sale department indicates they have the data and will escalate it for resolution. This has gone on for eight months with no resolution and me trying to get the department customer service department to talk to the short sale. They will not talk and keep passing me between the two. I have even been told by a Customer Service rep that the loan is sold. I am an accountant and this is affecting my job prospects as well as the credit issues it causes.
I borrowed the money to give to Bank of America because they would not allow the short sale without it. They made a written commitment and are not honoring it. I am at my wits end as to where to get help.
i am going through horrible stress with them. i just posted my story. i am 69 years old and my blood pressure the other day was 200/100. i have never had this condition and it is all due to stress. i wish i could sue these rotten characters, but i know it would do no good.
Did you contact the Attorney General and local TV?
My daughter is an Assistant Attorney General here in Minnesota. She says the MN Attorney General takes complaints like yours seriously.
Good luck...
reynoldss@live.com
I immediately called the BoA. Three times the line went dead after I had spoken with a CSR and been placed on hold for almost a half hour each time. After 6 calls and 2 hours on the phone, BoA admitted its mistake.
Today I received a notice in the mail that my mortgage is in default and collection fees will be added. It's Saturday, and the bank is not open for phone or on-line contact. My first call on Monday will be to my attorney.