Bank Of America / escrow/modification
Back in April 2009 BOA raised my mortgage by placing an Escrow on my account. They indicated that it was an Escrow for Flood Insurance and Regular Homeowners Insurance. Problem was...the home was NOT in a Flood Zone and this was proven when the loan began back in June 2005. It took 3 months for ME to resolve this as they made me jump through hoops with FEMA. I finally got their required documentation and yet they still are charging me from Jan. 2009 to July 2009 as July is when I got the FEMA paperwork stating I did NOT require flood insurance. Jan. 2009 to July 2009 BOA claims is justified. I say they are ripping me off.
The property is a property I DO NOT live in. I had it on the market from June 2007 to August 2009; then rented it. BOA states that for 4 months in 2008 I did not have regular homeowners insurance on it. They charged me forced insurance at a rate of almost $4500.00 per year. (THAT'S RIGHT $4500.00). They did all this in April 2009...very delayed charge I might add and I argued this. First it was for a mere 4 months that there was no coverage (my error) and second..how can BOA bill me a year later?
Customer service is the WORST I have EVER seen in any business. Many many many phone calls, can't reach the same person 2X, no one has the same information and bonus for me...I actually Pre-Qualified for a mortgage modification early Nov. 2009 (due to the additional Escrow non-won battle), submitted the proper paperwork end of Nov. 2009 only to finally get an answer in late Jan. 2010. They wouldn't give it to me...WHY?...Because some BOA stupid, incompetant employee CHANGED MY EXPENSE AMOUNT WITHOUT MY KNOWLEDGE..and now the home is in PRE-FORECLOSURE.
In a nutshell...BOA is going to end up taking my home for a lousy $5000.00 of which we are disputing.
10 letters sent out this week. A detailed letter regarding the entire ordeal, my situation, my plight, timeline of events/contacts, and of my written expenses (so they can't change the numbers themselves). 10 letters...hoping someone, somewhere will help us. 10 letters...The White House, The Fed. Reservere, The Atty General, CEO of BOA, President of BOA Home Loans, BOA Home Loans, etc...IS THERE ANY HOPE?????
What a ### show BOA is giving to their clients. I have banked with them since 1999 & have paid off 2 previous Mortgages...are they kidding????? I am good for it...but not when you make it out of my reach and NOT even care. DO NOT BANK WITH THEM...Pay attention...they are the single bank that is NOT DOING GOOD BY THEIR GOVERNMENT $$$$. I can't wait till I can give my business elsewhere. My husband and I are hard working, respectable citizens and this has not only potentially cost us a home, but tarnished our reputation along with our credit report/rating.
*****************DON'T BANK WITH BOA...KING OF RIP-OFFS***********************************
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