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Bank Of America


property claims

Complaint Rating:  95 % with 55 votes
95% 55
Contact information:
New York
United States
Phone: 1-800-669-6076ab395
My home burned down on Christmas day 2009 my insurance company was Nationwide (awesome so far) unfortunately for me my mortgage is with Bank of America which means that all checks from Nationwide Insurance have to be deposited into Bank of America and all checks come from the Property Claims Department located at CA[protected] Country Way, Simi Valley CA 93065. Although they ARE an on-line bank they DO NOT do any transactions through on-line banking, email or anything except call or US Postal Service. I have logged in more than 24 hours of call/WAIT time, gone through hundreds of people at the call center, all of the managers are in meetings all day and would not come to the phone. They hang up on me and pretend they got disconnected. They are chock full of excuses as to why nothing has been done with the check that I sent them for $137, 500 from Nationwide Insurance on February 9th. I faxed a 13 page invoice on 3/1 for the $72, 000 and $14, 000 that I have spent from my checking account to get my house repaired and am requesting MY MONEY FROM MY INSURANCE COMPANY FOR THE REPAIR OF MY HOUSE, and they have done nothing. They think I am so stupid that I don't know they are stalling so that they can use my money and in the meantime my family is displaced, my home cannot be repaired and Nationwide has to pay my living expenses. All I am asking for is my money to fix my house and their bureaucratic system will not allow this to happen. BOA is committing insurance fraud by keeping that money and preventing me from repairing my home.
Complaint comments Comments (46)    Updated: Complaint country United States Complaint category Banks


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A  23rd of Mar, 2010 by    0 Votes
I am going through the same thing. We had a pipe break 1/11/10, Insurance company was great but the check also had to be sent to BofA. Its almost been 2 1/2 months and we haven't seen a check. I finally filed a complaint with the Federal Banking Commission. The next time I called I was redirected to the Office of the President. I thought finally something is going to happen. Unfortunately I can't get my representative to call me back. I have been calling everyday for a week and still nothing. And I found out today that they lost my March payment, how convenient.
They keep telling me that my contractor is filling his W9 out wrong. Even though the W9 instructions say that it is OK for a sole p. to use and EIN, BofA says its not acceptable, funny because they wont accept it with a SS# either. There must be a way to make them pay for this. It can't be legal.
A  4th of Jun, 2010 by    0 Votes
We are going through the samething we had water damage at the end of Feb 2010. Or insurance company USAA paid us but B of A has given us the run around. We haven't had a kitchen for a while now there has to be something that can be done.
N  29th of Jul, 2010 by    +1 Votes
WOW!!! my husband and I had roof damage during the tornado received an insurance check to repair the roof and we cannot get bank of america to send us our money back to fix it either. The aggravating thing is that our insurance is not set up on escrow, so its not like they pay the premiums.
A  6th of Aug, 2010 by    0 Votes
Same thing here. My home burnt down on 05/06/2010. Bank of America has had my check for 92, 000.00 for a month now and keeps giving me the run around everytime I call to see if it has been mailed. To date i have been told that it was approved 4 times now and would be mailed. I wait for the check and it never shows up. I call back and they tell me the exact same thing again. The thing i think that upsets me most is they will not ever connect me with a supervisor and honestly flat out dont care when i get my money. They have no right to do this to people. They dont care what my family has been through and that we just want to be back in our home. They are holding on to my money so they can use it. ITS MY MONEY!!! My home is 80% done and no one has been paid. I am lucky at this point that anyone is still working on it. Luckily my contractor and my insurance company have been awesome. Too bad I cant say the same for Bank of America. This cant be legal for them to do this to us. Yet i sit here waiting for my money and feeling completely helpless. Once again this morning I was told that the check was approved and would be in my hands Wednesday. Wont hold my breath for that. Wonder if I can hold off on my loan payment and when they call tell them I am waiting for the check to be approved. Sure that wouldn't go over to well. If the check is not on my hands Wedneday i will be contacting my lawyer to at least see what rights I have. I am also going to make a complaint to the Federal Banking Commission. From what Ive read here that probably wont help either.
A  18th of Aug, 2010 by    0 Votes
GEEEZ-I've got the same problem with BOA claims. I am from Toledo Ohio. My farm was hit hard by a tornado June 5th 2010. BOA has $6100 of MY money with another $7300 to come. When I call the claims dept I get the same run around, different person every time and now they just put me on hold. Today I called 3 times- I give them my account number and 3 times they put me on hold!!! This can't be legal!!! I think it is time for a class action lawsuit! My email address; jennifergoldsmith7@gmail.com
N  22nd of Sep, 2010 by    +2 Votes
Same problem. Got hit by a hail storm in Oklahoma. My insurance company Liberty Mutual was stellar and did everything as they promised. Unfortunately, my mortgage is through BOA and have realized that they must employ monkeys in their property claims division. I've just gone on ahead and paid the contractors over $5, 000 out of my pocket because I can't get the monkeys to release my money. Thanks BOA!
N  22nd of Sep, 2010 by    0 Votes
Still waiting!!!

A  15th of Oct, 2010 by    0 Votes
I work for a roofing company in Oklahoma City OK. it is exactly as tscott182 says. I have a customer who owes me over $25, 000. already, and the inspector approved the work as 85% complete. I have filled out the lien release contingent on payment.. What they think I am going to release the lien before they pay? We are now over 60 days out since we did the work and nothing. The sad thing is, I may have to foreclose on my customer just to get the bank to release the money.

If they are holding this money to earn interest and not refunding the interest to the customers mortgage they are violating the law that says the insured cannot profit from a claim. In other words they would be committing insurance fraud.
A  19th of Oct, 2010 by    0 Votes
What a bunch of bull! I'm in the process of getting BoA to endorse our insurance check for 12, 042.00. I'm afraid to send it in to them now!
we need to get a roof asap, Trying to get hold of these people is a nightmare already! Where is the help when you really need it?
A  19th of Oct, 2010 by    0 Votes
To Barry59----It took me 7 weeks to get a new roof!!! Everytime it rained I had to put pans and bowls on the floor to catch it!!! No one at BOA cared!!! I called and called and got the same ole run around. I still don't have all of my insurance money back and the tornado hit us June 5th!!! The only thing I can say is that this has been a huge nightmare and I can't believe that this can be legal!
A  28th of Oct, 2010 by    0 Votes
I began calling to find out what Government entity polices Mortgage companies. My calls eventually resulted in coming to the fact that they are all controlled differently, however since BofA styles themselves a "National bank", they fall under the Comptroller of Currency. If everyone with this problem would file a complaint on www.helpwithmybank.gov Bank of America's business practices would be audited and delt with.
A  28th of Oct, 2010 by    0 Votes

This Article is about someone who actually took the bull by the horns and sued Bank of America for their unethical business practices.
A  29th of Dec, 2010 by    0 Votes
Had a pipe burst in home we had under contract to sell.Sent insurance check to be endorsed they sent it back because we forgot to sign back of check in meantime for us to continue with our closing we borrowed money to fix house. We no longer own the home work had been completed. Contacted BOA. They said had to send endorsed check plus all w-9s from contractors and bills. The kicker is they have to inspect property to make sure work was 100% complete asked how can we do that since I no longer own the home their response well maam I dont know what to tell you we have to inspect it. Worst company on the planet to deal with and we tell everyone that sits in my chair for a haircut which is between 100 to 150 people a week
N  30th of Dec, 2010 by    0 Votes



Tell them you have an unresolved issue with the Property Claims department and you need them to authorize the check without having to send it in because...
ask for Janette G. She seems to actually care and was incredibly helpful in resolving the issues we had with BofA. Unfortunately in our case it turned out that
BofA was not the problem, it was the customer that defrauded us by telling us the bank had the money when in fact they had already spent it. :(
N  11th of Mar, 2011 by    0 Votes
Question? Allstate just approved 8K to replace my roof and fix any damage that was done by hail. If the cost ends up being less than the 8K, does B of A keep it or do they send back the difference to me the actual policy holder? Reason I ask, I heard they keep the check and the contractors must send bills to them and they will pay the bill.
N  11th of May, 2017 by    0 Votes
@azsnipe Is this true
N  13th of Mar, 2011 by    0 Votes
The way property claims insurance works is this:
The insurance will send an adjuster or appraiser out to look at the property or "loss" and assess for damages, the adjuster will then write an Estimate of damages. This estimate will have an RCV column that indicates the insurance companies opinion of what it should cost to repair your roof. If your insurance company used the current price list (market value) and didn't overlook anything then no contractor should charge more than that estimated amount. If the contractor charges less than that amount then the insurance company keeps the difference. The policy language that allows them to do so is written as such.. "we will pay to repair or replace damaged property in the amount up to the estimate of damages, or what the contractor agrees to, whichever is less". Most insurance companies "hold back" a portion of the claim in the form of depreciation, that has to be invoiced for by you or your contractor in order to receive the full amount of the claim. If the contractor agrees to charge you less and send an invoice to your insurance company for the full amount they are committing insurance fraud and by proxy so are you.. It makes little difference to some contractors as if they get caught it is only a slap on the wrist, , however if they get caught so does the homeowner and in most cases it is a felony charge to the homeowner.
The mortgage holder then takes their stance:
In this case Bank of America is the mortgage holder and as such are entitled to hold the funds to insure that the work is completed by the property owner as is in the best interest of the property. Typically if you present a contractor who agrees to do all the work as outlined in the "scope of loss" or estimate provided by the insurance company for what the insurance company says it is valued at, you will be able to recoup all of your funds from the bank. If you are not in arrears on your note and are able to get all your work completed for an amount less than what the bank is holding and it passes BofA's inspection then you should be able to recoup any remaining monies if there are any. Bank of America is a "National" bank and therefore governed differently in most states than other mortgage companies. If you feel that the bank is unjustly holding funds that are yours and you do not want applied to the balance on your mortgage send an email clearly delineating your stance and outlining what the scope of damages is, if you have all the work done and any remaining funds you feel they are holding but should send to you. Include your mortgage number and good contact information. If you have work you are going to do yourself that is not done, include that and remember just because you are doing your own work does not mean you don't get paid the same a contractor would get paid for said work. Your time and labor are just as valuable as theirs.


N  13th of Mar, 2011 by    0 Votes
So much for proper punctuation

Note to site administrators the punctuation is showing up as code. See above where I put loss in quotations on line one then again every place I used either an apostrophe or quote marks.
N  1st of Apr, 2011 by    0 Votes
I think that a contractor has the right to call the banking center to see if a check has been released. Also if you are a contractor and are waiting on payment it will take atleast 60 days because once all the paperwork is done, and you have called in the 50th time BofA will say that there is another form that has to be filled out. Which BofA could have sent me all the paerwork at once instead of stringing me along for 60 days.. Then when you call in to ask about the check, BofA then says you are not athorized on the account... To All Contractors... write a clause in your contract that the homeowner gives you permission to speak to the bank and insurance company once signed... I bank at Bank of America and now I will be looking else where...
N  29th of Jun, 2011 by    0 Votes
OMG I HATE BoA !!! and their stupi run around rules!!! Almost 3 months from tornado damage and the check from BoA nowhere to be found !! Had anybody submitted a claim, where to and with what success ?? I am going to do this right now!!
N  19th of Jul, 2011 by    0 Votes
I had 3 trees fall on my house. My sunroom was a total loss and was flattened like a pancake. The insurance company (Farm Bureau) sent me a check for almost $35, 000.00. I had to send the check to BOA and was told that they would have to send it "a little at a time". I AM NOT 12 YEARS OLD AND NEED MY ALLOWANCE FROM MOM AND DAD. I questioned this "policy" and it took ONE MONTH to get the first $10, 000.00 so my contractor could start. The reason I was given for this "policy" was "we have a vested interest in your home". Give me a break...I don't have a "vested interest" in MY home? BOA is the slowest, rudest, and worst company I have ever seen. I am sure the real reason for this is so that with all the damage done recently, they are holding onto this money so it (and if they have 100 people with $35, 000.00 that equals about 3.5 million) interest can be made and put into their pockets. If you have a choice about mortgage companies...DON'T USE BANK OF AMERICA!!!

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