Bank of America
Charlotte, New York
United States - 28255
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I have tried several times to get refinanced out of this ARM that I currently have through Countrywide Home Loans. Due to circumstances out of my control, I had to let most bills go to pay my monthly payment at 10.375% interest. I sent the needed documents in January 09 to see if I qualified for a loan modification. I finally received a proposal on February 19 that they would lower my rate to 10.375%...the same as I am paying (or cannot pay) now. The paperwork states that this is the rate at the origination of the loan. That was incorrect (the original rate was 8.310%). I called immediately and after being transferred and told to call other numbers, I found someone that agreed there was incorrect info on the document. They were going to email supervisor re this. I called again on 2/21 and was told that they could see in notes that the paperwork should reflect 8.310% interest and they were going to email supervisor. I called again on 2/25 and was told that on 2/24 the notes state that I do not qualify for loan modification, but that person could see discrepancies in the notes on my acct and forwarded me to someone else who then stated that he would have his "team leader" call me. Just before the end of the business day on 2/25 (I had not heard from "team leader"), I called back. I was told by new person that notes state I do not qualify for loan modification. I told her that I already had qualified and received paperwork that states so, but that it was incorrect on interest rate. She transferred me to someone else and after being on hold for quite some time, they are investigating. I need help...since it doesn't seem like they are being honest or maybe they do not know what they are doing. Can they do this?
I CALLED TO ASK FOR A BETTER RATE THAN THE EXTORTIONIST RATE OF 25% AND RATHER THAN PROVIDE ME ONE THEY REDUCED MY CREDIT LIMIT IN HALF EVEN THOUGH I HAVE A THIS ACCOUNT FOR 19 YEARS AND HAVE BEEN MAKING PAYMENTS EVERY MONTH ON TIME.
THIS IS EXACTLY WHAT IS WRONG WITH THIS SYSTEM AND I AM CLOSE TO PAYING IT OFF AND WILL NEVER NEVER NEVER USE IT AGAIN.
BY REDUCING MY LIMIT MY CREDIT SCORE IS THUS LOWERED WHICH IS TURNS GIVES YOU THE "RIGHT" TO CHARGE ME A HIGHER RATE!! NICE WAY TO TREAT LONG TERM CUSTOMERS. IN ANY OTHER INDUSTRY YOU WOULD BE OUT OF BUSINESS.
I AM FILING COMPLAINTS ALL OVER, INCLUDING NOTIFYING THE PRESS, BECAUSE THIS IS HOW YOU CAN JUSTIFY CHARGING SO MUCH!!!
EVER SINCE FIA TOOK OVER FOR BOA CREDIT YOUR CUSTOMER SERVICE IS HORRIBLE!
I am a single mother, self employed (in Real Estate), credit score well over 800, and pay for my son's college (couldn't get grants, etc... made too much money!). I don't have enough "credit" open to get a higher score... give me a break. I pay off my credit card monthly, that hurts my score!
Recently I applied for an equity line on my home, that I have over $400k in equity... NO other debt! I was turned down, because I AM IN REAL ESTATE. I planned to use this money, only if necessary... to have that cushion. I asked for only $200k of the $400k I have!
I pay for my health insurance ($400/month), owe two vehicles, a rental property, never had late payments... yet the thieves at the banks (the cornerstone of our crisis) have denied me this credit. I am appauled. It would be easy for me to just NOT pay my bills and be irresponsible, but that is not the American way and I won't. WE must do something about this lock up at the banks for which WE are saving. I am loosing much faith in our system... PLEASE HELP!
BANK OF AMERICA... GIVE US OUR MONEY BACK!!!
With kind regards,
My husband works with a young guy who is buying a home through Countrywide Mortgage. Because he does not qualify for the loan (reason #1 why this country is in this bad mortgage situation), they advised him to lower his debt (which he will still owe) by getting his car refinanced in someone elses name. This sounds fraudulant to me. The rules and formulas are in place for a reason. If you have to pull a scam to qualify for the loan you obviously cannot afford it. I wish that I knew who to report this to as I feel they are stealing my money to help companies like Countrywide stay in business, but Countrywide has no intention of changing their policies that got them into trouble in the first place.
My credit score is over 700. I make card payments online either on or before the due date. However, even at 8AM my payments to FIA aren't 'accepted' until 24 hours later. Something about " not being enough time for them to process the payment" . ?!?!?! It's not a problem for any other card service. So twice they marked my payments as being late - which they weren't - and then used that as an excuse to raise my interest rate to a usurious one.
I have since closed the account and will tell everyone I know NOT to use them.
Bank of America unethical business practices has hit the lowest of the lows. Compare them to any subprime lending institution, they would be rate #1.
Bank of America deliberately, fraudulently changes due date of credit card...then they CHARGES customers a $39 dollars late fee. I was informed by Bank of America after complaining that they can change due date and that the dates can vary from 1-4 days, whatever, whenever they chooses. Bank of America states to me that I should have ' Read the very fine PRINT'.
Bank of America, you are the worst. You are the reason that banks are going under today.
I am a realtor in Florida, I placed and offer for a Countrywide REO through bidselect of which eventually we entered into a contract for purchase... They advertised the home as available for conventional financing and even make the buyer be prequalified through them as far a offering a free appraisal and credit report if you use them.. In my case my client was already pre-qualified through them. The house was advertised AS-IS..My client is a first time buyer and is coming in with 20% down. The house is in pretty good condition although it's missing the appliances as most foreclosed properties, the electric meter was stolen and they did have flp re install it. My client did a self inspection as he new he would be buying the house as-is and since he was getting a good deal is willing to do the necessary repairs himself . So here he is "the buyer" using Countrywide, their title company because that is also forced upon you, they do pay for owner title insurance but you don't have a choice in the matter, so if you want an attorney you have to pay one in addition and they are still going to hit you with closing fees and make you pay seller fees if you don't use them. The problem comes to the loan is approved and about 6 days prior to closing they come up with an appraisal ordered through landsafe, which is the company they use that states a bunch of problems with the property. Looked like a home inspection with dollar figures of cost, but not done by an inspector.. He states that there is an ilegal room added to the house and a bathroom. Well now Countrywide the Lender says we can't give you a loan unless this is taken down and Countrywide the Seller says we cant do anything we are selling as-is.. The left hand doesn't know what the right hand is doing... They advertised the property good for financing yet their own Countrywide Lender wont give a loan on it. The worst part about is the inacuracy of the appraisal itself... The plans for this house does not exist anymore but there were plans filed in the county for remodeling that shows that room as an existing room, and it get's better the square footage on the county records is only off by 70 ft from the appraisers including that roomand according to the appraiser that room is 216 sq ft... So the owners have been paying taxes on this room who knows how many years and because an appraiser suggested this is what they needed to do, and is assuming this an illegal addition, this is what underwriting is telling us. I asked for a second appraisal and they are fixated on this one and said no. So they said the room needs to be removed but the buyer cant do it and the seller "Countrywide itself" says we are selling as-is and wont do anything of which nothing should be done in the first place because the appraisal is totally in-accurate. Meanwhile the buyer has spent all his time, energy, attorney fees, and is out of a lease thinking he would be moving in as he was totally approved. My question is how can Countrywide advertise a home for sale offering financing and then they are basically telling us that we are SOL>>>No one wants to take responsibility and it' s a home that would be purchased, upgraded and made prettier which in return would help the neighborhood value..Does anyone have any suggestions?
My mother had perfect credit all her life. Bank of america chose to add my mother as a user on my account becuse she wanted to just talk about my account. Now they have messed up my mothers credit. Bank of america is a joke. Bank of america needs to be bailed out of jail instead of tax payers letting this company to have its way with innocent people.
Wow!! Bank of America is a complete rip off. They manage to make millions of dollars off of its members by charging a $6.00 fee for cashing a check to a non-member. This is absolutely crazy!!! I told this to my bank, Peoples United Bank and they were SHOCKED!!! They said that was amazing. I travel a lot. This year to India. I took my Bank of America debit card because my bank strip off of my People's debit card failed to read the strip the day before I was to leave. I shifted money to my Bank of America account, which I never use and when I returned from my trip I had tons of 3% international fees added to my checking and debit card account. I was amazed. I have NEVER, EVER been charged fees for using my credit card before. This bank currently is facing a law suit and by the looks of it, will find themselves facing other charges. I think a revolution where everyone closes every account in their names. What other hidden ways are they cheating us? Speak out and let the cheaters be made known. I have canceled all of my accounts. I went on line and realized there are many angry people. Beware of this bank.
We tried for a regular home loan in 2007 and was turned down to having low credit scores and a bankruptcy as well. Then we were contacted by Challenge Financial a broker for Countrywide and was told they could get us a VA loan no problem. We filed the paper work and were turned down the first time cause we didn't have enough income. Then they called back and was told if we could use my husbands overtime and my income combined it would be ok. My husbands boss at the time even signed a form stating that they could use it. We later found out they even used my husbands previous employement as income as well. Anyway, Challenge Financial called the realtor and they Supposedly sent out a VA inspector and the inspector was supposed to go by the VA's rules and regulations. It needed some repairs including having a new roof replaced and the basement possibly having drains put in it cause there was standing water at the time of inspection. The repairs to the roof was done, and the old out building was tore down and was to be hauled away, that is what was stated in the receipt from the contracors, however they shoved it over out hill for us to later haul away, and the basement was never fixed. The roof leaked right after we moved in and destroyed our ceiling tile as well. We were also told that we didn't need an inspection of our own cause the VA was very tidy on their inspection and would find faults to be fixed. Well in the mean time, my husband lost hours and overtime. Then eventually his job and I lost mine the same year. We are both working now, however our income is alot less then before, we have contacted CW on this and all they want to do is raise the payment. We've even asked to extend the loan to 50 years instead of 30 and they won't do it. We've contacted WV attorney general and they only helped people with balloon payments, not people like us. No lawyers will help either for they say it's a waste of time. Since this has all happened, we found out that our plumbing isn't hooked up to our septic tank, it runs down over the hill and when it backs up, it goes into our basement floor. We also found asbestos tape on our furnace vents and was told that is totally normal and at the time of inspection, noone was trained for that type of thing. We have no record of any inspector other then a form stating what needed done and I believe that was done by the appraiser only, not a VA inspector like we were told in the beginning. The realtor has since left and can't be found to explain why we weren't told of these things as well. The house was in the same family for years since 1938 and never changed hands till we bought it in 2007. We have even contacted the VA and no help there was told to sell despite with all these repairs and having to have the asbestos removed first the home might sell for 20000 and the loan was for 160000. There doesn't seem to be anyone out there to help with any of this at this time and we are going to foreclosure I'm sure. I thought they were supposed to do all remodifications for homeowners who were behind no matter what, but we were told recently we didn't make enough money despite, we had 300 dollars left after everything is paid. They also use a credit card as a payment despite we don't have credit cards and an old phone bill despite we don't pay it either. They figure it in on our monthly bills. I'm not sure how this is fair to us or to anyone. I just wish I could find help and save my home from these people. They won't get what they want out of it and noone will buy it with the repairs it needs.
Get this. I called BOA and requested a decrease in by interest rates that have crept up from 7.99 up to...
Bank of America raised the interest rate on my credit card from 9.9% to 22% without notice. I checked to verify that I had not paid them late and found that I have always paid more than the minimal due every month and have never been late. I contact them and had the unfortunate luck of being put in touch with one of the most rude people that I have dealt with in a long time. She told me that the raised the interest rate for no particular reason and there is nothing that I can do about it. I asked if there was someone else I could talk with or another department and was informed that no one in the company could do any more than she, but she took my name and number and told me someone would contact me the next day. Still waiting.
Very disgusting company and very rude customer service...Can't wait to transfer my business from Bank of America.
I guess that my tax dollars are not enough and that they decided to send me a bail-out payment each month.
If you want to keep your home, if you want to put a stop to the criminal activities by this compay, then it's time to DECLARE WAR ON COUNTRYWIDE HOME LOANS NOW!!! Contact your congresspeople, the President, every homeowner's advocate you can. the FTC and the FBI, HUD, and, if possible, an attorney, and write them again and again. If we act en masse, we can bring down these creeps and put them where they belong - IN PRISON!
I apologize for the length of this, but I think you will find it good reading, but don't just read it. TAKE ACTION!! The home you save may be your own!!
You must understand that YOU are NOT their customer, the lending companies and investors are their customers. Part of what they do (which comes from mortgagetrap.org) to steal people's homes and much of which is happening to me now is this:
"The below and other situations are not errors, mistakes or situations where a servicer's managers or employees failed to do their jobs. Their systems are well-designed and state-of-the-art in terms of analytical technology that helps them choose and process their victims. These scams generate enormous profits from a business that is difficult to run, people and litigation intensive and normally only marginally profitable. Many have failed and been acquired (Fairbanks bought several).
What you Must Understand...
You, the borrower are not their customer. Lending companies and investors are their customers. Most of the borrowers that fall victim to these abuses are classified as "subprime" borrowers (borrowers that either because of credit or income cannot qualify for a conventional loan). The vast majority of "subprime" borrowers are not well off enough to fight when abuses do take place.
The path toward losing your home to this scam is actually quite simple. The first phase is designed to fabricate the default and typically beings with one or a combination of ways to arm the servicer's records with false data:
When the servicer decides to manipulate the date the payment was received in order to artificially create a late payment.
When the servicer doesn't post payments made or improperly applies them
When the servicer applies part of the payment to something other than principal and interest and creates a partial late payment or deficiency
When the services decides to "force place" an insurance policy on the property by claiming the homeowner has not provided proof of insurance.
When the servicer pays your property taxes late, the adds their late penalty to your account without your knowledge.
Any or all of these processes result in at least one month of the account being past due and a negative note is made in the credit report (which effectively prevents the borrower from refinancing). "
***Below is my story, which went to my congresspeople as well as the FTC, my state attorney general, and a number of advocacy groups and executives at BOA and CW:
I pray that you will withdraw any and all bailout money from Countrywide Home Loans and allow them to die, as they continue their abusive behavior toward borrowers. They are not using the bailout funds for the purpose intended, in fact they are attempting to steal people's homes rather than keep people in their homes. Below is my story.
Thank you for hearing me out.
I sincerely hope you can understand my anger, fear, frustration, and
confusion at the situation I face as detailed below. I apologize for
the length of this. Please read the bottom as well. Thank you.
I received a voicemail from Countrywide this morning asking for a
return call. I am very leery of doing this without a third party
involved to make sure we are ALL on the same page, and for good reason.
Whatever is going on with the accounting at Countrywide makes zero
sense to me. First of all, just a month ago, the system showed me well
ahead on my payments, and papers to put me in a lower interest fixed
rate loan were on their way soI was told by a CSR. But this week, I get
a notice of intent to accelerate letter from CW telling me my loan is
in serious default and that I owe now for December, January and now
February. So what you are telling me is I have missed THREE
payments???? Or more???? That is absolutely NOT true. Furthermore, your
letter of intent to accelerate mentioned "other fees" I may owe but
said NOTHING about what those fees were nor how much. So how exactly am
I to tell where I stand with CW??? What do I owe, why do I owe it and
when??? I have no idea what to believe or that whatever is told to me
is correct or not.
I never ever received any letter stating I was behind, no calls or
anything else indicating there was any problem with my account. In
fact, I had a good relationship with the Countrywide CSRs and found
them cordial and at least appearing to be helpful.
I would like to again have a good relationship with Countrywide, as I
did for a couple years...but I cannot be blindsided by this sort of
thing. I need to know.
I did hear from Lori with the MO Attorny General's Office, and thank
her for her help. Hopefully this can be straightened out. I know I
cannot do it alone.
As I said before. I am sure there are many very fine people who work at
Countrywide who care about their jobs. But there appears too to be some
who either don't know what their doing or don't care, regardless of the
people whose lives are unneccesarily ruined by their unwillingness to
do their jobs.
I am not trying to be a jerk here, I'm really not. I just love my home
and wish to keep it, and it makes no sense to lose it just because
someone isn't doing their job right or intentionally manipulating the
I'd like to get this straightened out as soon as possible. Thank you
for your help.
Below is a link to a piece of news you might find
Countrywide admits to LYING!
Just a month ago, according to your system, I had no payment due to you
until March of 2009 (as a result of a loan modification and advance
payments made by me), and you were supposedly in the process of moving
me into a low interest fixed rate loan. So imagine my surprise when I
got a letter from you tonight of an intent on your part to ACCELERATE
my loan, DOUBLING MY PAYMENT AND charging me late fees!!! How can you
charge late fees on payments not even due?????? Could someone there
explain to me exactly what the heck is going on???? You don't even have
a representative available after 5:15 PM Central Time!!
Further, your website says you have not received a payment from me
since 10/31/08. That is completely untrue!! In spite of the fact that
you showed me three months ahead on my payments, I still made payments
faithfully, only skipping last month after your CSR told me my payments
were not being applied to my balance, but put in a holding account
while the loan workout was going on. He explained I might as well wait
since the package - which never came - was to be sent out shortly.
So would someone please explain to me exactly what your intention is
regarding my loan????? Do you want to foreclose so you can sell my
house and keep my equity, is that what this is all about? Since this
isn't the first time you've done this sort of thing - such [censored]ding
payments late so you could charge a late fee, for example - what
exactly is your endgame here? Well I will tell you what mine is. This
is my home. I love my home, and have done absolutely nothing to deserve
losing it just because someone at your company, whether they be
completely incompetant or unbelievably evil or not giving a rat's
behind about their job or the people it affects, cannot or will not do
their jobs right. I have every intention of keeping my home - and I
WILL KEEP MY HOME - NO MATTER WHAT IT TAKES! If that means my cold,
dead body being removed from it, then so be it.
I will give you credit on one thing - your CSRs have always been
cordial, helpful and friendly to me; it's too bad they cannot do
anything about what goes on over their heads. But whoever is
responsible for such shenanigins as this, which I read is common to
Countrywide DESERVES TO BE FIRED! ALL OF THEM!
I am experiencing problems with credit card debt and tried to talk with BOA. Customer rep would not let me speak with manager to discuss issues with interest rates. I am a good customer for several years with no late payments. I was told if I didn't like it and stopped paying then I would be turned over for collection and my credit affected. No discussion, no alternatives, and these people take money from taxpayers to stay afloat. By the way Rachael Peters is the customer rep who says she is authorized to to inform you that you either pay or lose. Pitiful organization.
I have good credit and pay my bills on time, every time. - Bank of America informed me that due to "risk review" (yeah, right) they will be DOUBLING the interest rate on my credit card. Of course I can "opt-out" but if I use the card, all current and future charges will be subject to the new, DOUBLED interest rate. AMEX, Citi, and all the other credit card issues are doing these same things to their customers.
How can these banks get away with this? How does the Government expect the economy to recover if the all-important consumers keep getting shafted by the banks. Many of us will never be able to completely pay off these cards. These banks by the way are keeping the bailout funds provided by the gov't and they are spending billions at the same time to acquire other banks. Something is clearly wrong here.
I want to make this short and quick. Bank of america has a scam going called check 21 rule. It's a scam that creates "false overdrafts" you can keep your accounts in the black all you want and it won't mean a thing. They create the overdrafts for you.
It is bank fraud pure and sweet!
I'm going to file suit against them asap. If you wish to join this civil suit email me here with your contact info and you will be listed on the suit as a plaintiff against bank of america. I will make sure that you are contacted by the attorney before the suit is filed. The more people that have the guts to slap them down the faster they will fall.
They are not a bank, they are racketeers!
I just received notice from B of A that my credit card account has been closed due to my credit report rating. My credit card has been paid on time and all my credit cards do not have late charges on them. Due to the economy and lay offs my husband has not been working and we have had problems with our Mortgage. Since my credit card is closed now I attempted to get my 12000 points that I have accumulated which B of A said No since it was the company that decided to close the account and not myself. This is upsetting and NOW I do not want to pay them what is due.
I used a new checking acct to make my monthly payments. FIA Credit Cards online payment company initially stated all was wonderful but then a few days later told me the payments were unsucessful. As the payments were well ahead of the due date I attempted to remake payments but the payment company blocked my efforts and would not co-operate with me to correct the payments.. I had to go directly to the financial institution I had set up as the "pay from" account and set up the payments directly from their bill pay system as the problem was not insufficient funds just incompetent people unable to process my payments at FIA's check free bill pay system! Due to this fiasco with their "Bill Pay" system I was penalized with multiple fees and my account closed ---because of MY ACTIONS!!! My actions were to make 2 payments totalling well over my minimum payment due weeks before my pay by date!!! The check free bill payment system screws up processing the payments as it was newly submitted checking account information?? and I am suddenly a credit risk and unworthy to be a customer.
This is a notice to all bofa existing and/or future customers as a warning only.
In december of 2008 I received an automated phone call from bank of america stating that odd activity had been happening on my credit card account (Thanks to bofa for the notice). I was asked if several charges were in fact mine - which they weren't - and I was immediately connected to a fraud specialist. I live in southern florida, and the activities occured in southern california - 2 stores. While talking to the fraud specialist, I was informated that they had undergone a conversion in november, and had sent me a new card (Which I never received). Apparently (They told me) somehow my new card was diverted to somewhere in southern california because the purchases showed in bofa's system as being done with card in hand. At any rate - the account was closed, and a new card was issued and mailed to me.
Two things came to pass. First - the card that supposedly was diverted to california actually arrived at my home address the following week. Then, in another week, the new account card arrived. Second - and the major reason someone was able to use my account - neither new card required activation by calling a bofa number to authenticate that the right person had received the card. Because of this change in their processes alone, someone was able to make charges on my account, from which I was required to complete an affidavit and return to bofa to keep the charges from returning to my account, plus the time I was without the card just before christmas.
To existing card holders - be aware. As you approach the end of your current accounts valid dates, keep a close eye on your statements to watch for suspicous activity. If bofa were smart, they would return to requiring authentication for replacement cards, but if they don't then they're creating a potential issue for many customers.
Thanks for reading,
First of all, my website containing my petition against Countrywide Home Loan...