Menu
Login
Our mortgage with BoA started in 2002 and excluded the setting up of an escrow account by BoA to pay the property taxes and homeowners insurance. These payments were made by us property taxes paid to the county and homeowners insurance to Statefarm.
This year 2010 BoA has now changed our mortgage account number and data from Statefarm to the old mortgage account number concerning homeowners insurance coverage failed to be noted by BoA to the new account number associated with the same mortgage. BoA then used this omission by them to state that there was a homeowners insurance policy lapse starting in 2009 which triggered the setting up of an escrow account for the payment of monies for a lenders policy to the amount of $5426. This is now an escrow shortage due.
At the same time they included in the escrow account the property taxes payments changing our monthly fixed mortgage rate from $1413.68 to $2656.97.
It should be noted here that that our homeowners insurance policy never lapsed and is current likewise property taxes are also current. Our belief is that BoA is using the pretext of a fake policy lapse to establish an escrow account against our mortgae while eliminating Statefarm from the equation for the purposes of doubling our monthly mortgage payments. Shame on you BoA.
We are one of many families in H*** with Bank of America. Our mortgage payment is 2100.00. We were never late on a payment in until last month when we were 700 short and called them immeadiately to work something out. The person on the phone arranged to split the amount over 3 months. We received a letter confirming this.
Today we got a letter stating that we are in debt 700.00 and on Dec 16th they will enter our property for inspection to prepare for foreclosure.
They are trying to forclose on a $300.000 home because of a $700 difference? Of course when calling them, they claim there is no record of any conversation or letter with them regarding this matter. They are scary and rude to say the least. After reading all your complaints, I think we will go straight to our lawyer with this as trying to do anything with BOA is impossible. Be warned, stay away from them, they are like mafia. We too started with Countrywide which is now BOA (Bank of A holes).
If they try to enter our home on the 16th, we will have them arrested for unlawful entry (after our dog bites them).
I have been complaining 14 years to BOA and anyone else who cared to listened, due to the lack of Branch Reps problem solving skills quote " We have no control over the Mortgage Department", so the only action taken on my behalf was a desk call to who knows were, as I just sat there wishing I was doing the relay of information along with efforts to ease drop or push the conference button on their phone. SO the point to my post...My home burned down in Jan 09 due to arson (with the intent I'm working on proving) I came to the Bank to take needed steps for demolition. They lead me to believe I had Insurance, only to change their mind 1 week later stating the house had NONE and must of slipped between the cracks during and audit. HAH, I was faced with homeless and a Mtg payment on ashes. Two months pass, no action taken and I'm still paying the note. I gave them their last payment and made sure they understood what I was enforcing. The Reps reply as entering money in the system " I can't find your Loan number anywhere and don't know were your money is going". I sarcastically stated " I give you my money, to you, from you on your paper check where you hold my money and still can't get this right". That was the last penny I gave them! Needlessly to say, BOA escrow Hazard Insurance 6 months after the fire of course raising the payment amount. Total of 1 year almost to date Jan 2010, my X Husbands walks in to Bank, payoffs the Note with a claim dispersed in a check to both of us. Everyone gets paid off and I am left homeless. NO Insurance Agency/Brokerage who wants to keep their income would ever write a policy on an arson with open investigations let alone a dilapidated dwelling. Criminal activity to be investigated by FBI no doubt. My City Inspectors was livid after their attempts and my efforts to resolve with the Bank, so graciously they gave me a demolition grant to clean up my neighborhood complaints.. Which left wonderful City call log reports.! It is BOA's job to meet the authorities request ( Underwriting in our policy states clearly) even if they chose to ignore mine. They played with more than a Borrower on my note. If not for the City I wouldn't have even known the activities. I paid one last visit to the bank after all was done, as I demanded (not suggesting this time) I was not leaving with out a paper document in my hand. All I was allowed to received was a business card with a signature date and time. I really want to know why now to this day I still have Equity Ln 14k still active. The X husband holds the card of course. I will get answers and resolve these matters. I'm looking for a SHARK Attorney to eat them alive. Settle isn't what they should be privileged to. ATTACK and prosecute to maximum penalties. I am taking referrals on Oklahoma Legal practice firms that have experience in Bank suits. Beginner, cheap, I'm desperate and need a Lawyer is not a mistake I will repeat or I wouldn't have been in this Scam to start. amy.downing@rocketmail.com
bofa took our house through fraudulent escrow acct. we paid our own taxes and insurance for 12 yrs . had been trying to get loan mod for 2.5 yrs always lost papers etc. then I went to buy car and dealership told me I was in default with bofa who I had been sending mtge payment every month. called bofa who informed me we had an escrow acct set up by them and because we were not sending enough money to cover escrow that we did not know about, as we were still paying taxes and insurance up to date. they said they had re-directed our mtge payment to the escrow acct therefore we were now in default and they forclosed on us and sold to Freddie mac. Only bofa could come up with a scheme to steal your house while you were still paying mtge every month. This was a scam to get people out of their houses because bofa did not have the right legal papers (note on our house.) they could not sell to anyone but a buddy bank as the title was crap which is why we could not sell so they sell to buddy bank Freddie mac and literally steal your house out from under you > I do not think it was even legal for them to redirect your mortgage payment to an escrow acct or any other acct.
They just did this to us too this month. Bank of america is evil.
My problem with Bank of America is similar. after paying over half of the Principal off, BAC INCREASED our payment by $1870.28 to $3528.45. We found that they paid our taxes to the wrong county, city, and school district, in 2010. Then they paid our taxes TWICE in 2011, then they added the amount to our payment and want us to pay the taxes again through April of 2013! They are a fraud!
I will NEVER do business with this company again!
I received a recommendation to force an audit of our Escrow account by doing a Quiet Title Action . It will force an audit of the account. How to do this I do not know. I was also told to Demand an Audit of the Escrow account. In the meantime they have $8800 of our money in the Escrow and they will not be responsible to pay the taxes with it because we are paying off the mortgage. Then we will still have to pay the taxes for the next year! Lord help us all!
Im having the same problem as the other commenters. Who are these people who are so greedy, first, and inept and callous? Why are there never more normal, competent and caring employees? I was told to fax the documents that show I pay my property taxes, which I did immediately. I later learned I was given an incorrect fax number. I got the 'correct' number and refaxed the documents. It is as though I have never spoken to anyone over the phone or faxed over 10 documents twice. Why would they WANT me to default on my loan - even though they are creating the dafault. There is no good answer for greediness and idiocy.
Bank of America is doing the same thing to us. they say we are 3-4 months now behind in our mortgage payments, we paid our taxes, only to have the check sent back to us by our township stating the bank also paid our taxes. They didn't even pay the correct amount due, I had to resubmitt another check for the remaining balance. I called and paid them back for the taxes and was given the wrong payoff amount and then the money I did pay NEVER EVEN WENT TOWARDS THE REPAYMENT OF OUR TAXES... We still pay our mortgage ON TIME every month BUT they are not applying it to our loan, they are putting it into an escrow account and holding it and have now started foreclosure proceedings on our home. I have recorded every conversation i have had with them on the phone with a digital recorder and WOW the crap they are doing is amazing...THEY LIE, CHANGE THEIR STORIES ALL THE TIME. I have gotten our state Rep. and state bank commisioner involved now, just waiting to hear back to see what I can do...CROSSING MY FINGERS !
Bank Of America is trying to do the same thing to me. Forcing an escrow account which is more than double of what the house insurance and taxes would be. This sucks I hate dealing with these people. Really wish to be able to place a lawsuit against them to stop their BS. Wish to know of anyone else who has this problem with BofA.
omg! i have been dealing with all the same bs with bofa too! we were current on our loan until bofa threw us into 'forebearnce' agreement' while they "review our loan for mod" due to decrease in income! what a joke this has been. we have been battling since march of 2009 where our loan was origianly with world savings. almost 2 years of stress. does anyone know who we can contact for help? there has gotta be some legal action.