Bank of America Reviews

I have a BOA mortgage and made an application for refinancing where I have good 45% equity and with 750 of credit score and after six month of asking hundred of pages and when they ask me to close their own BOA credit line on the mortgage to send the loan for closing then couldn't provide the letter of closing to one department to another department on time - and cancel the loan stating that I was unable to provide the letter of closing.

They are all bullshit and we need to stop giving them any business at all. I have numerous BOA account which I am planning to close and move to credit unions or small banks where you can reach to the person who has been responsible and not making excuses.

I sold my house to qualified buyers who financed with Bank of America. We closed 2 weeks late, because the Bank of America underwriter handling the buyer's file went of vacation the whole week of the date of scheduled closing without assigning the file to anyone else. So no one in underwriting at BoA knew what to do. Then we extended the closing date for about 10 days, and they were still late with the closing. I was told the buyers were wonderful by a VP and loan originator at the bank. The buyers provided all they should when asked. Bank of America dropped the ball, and I almost backed out.....I would not recommend that anyone shopping for a mortgage go through Bank of America. On the front end, they have loan originators that provide good service and are great. On the back end, they don't do what they should after they have the buyer sort of locked into them because of things like appraisal and inspection fees. So be careful....I would only go through BoA if I had a written guarantee that they would pay all prepaid expenses I incurred if they could not close on time.....because, I could have as a seller walked .... and the buyer would have lost a lot of money....more than they lost anyway. The late closing did cost the buyers more....and it costs me as the seller a lot of inconvenience.

I was unimpressed with BOA when I held a checking account there, I was very skeptical when I saw they could provide the best apr for 30 year fixed, I kept reading bad reviews of BOA mortgages, but.....I have been very impressed. The only complaint was they had set up my auto payment incorrectly, luckily I caught it before the first draft was scheduled, I'm sure they would have slapped me with a fee. I have no other complaints, they have been polite on the phone and have made corrections without a problem (when an extra principal payment was partially made to the upcoming month).

Would have been nice if they would have told us from the beginning that state law would not allow them to give us an equity loan with a refi for the amount we requested.

Wasn't until we had completed almost the whole process and then never offered just a refi.

Several months later someone called and wanted to refi. NO THANKS! We will take our business someplace else and move all our bank account too!!!

I gave 1 star because the paperwork process was easy.

If you want to be treated like a criminal; a bad debtor; someone not to be trusted - then by all means contact Bank of America.

This was by far the most gut-wrenching, miserable, client insensitive experience in my entire life. Do yourself a favor - do NOT choose BofA.

Trying to refi from 30 years to 15. Using BofA, biggest mistake of my life. I did not think that this type of customer service and business practices could exist. Someone should go to jail

They did give me a good rate so I picked them. The loan officer kept telling me everything is fine. I went beyond my way give each and every document hey asked for, as soon as they asked for.
One day before settlement, the bank asked the seller to fix a few things - the seller immediately fixed it, now they want some more documents.
I took the day off work for the settlement and few days after to move. I lost all of my days off for nothing. I don't know how they can stay in business with such bad customer service.

Do not use BofA for a mortgage. Worst experience of my life. We've been told no less than 4 times that they have everything needed. When submitted for final review, underwritter wants, you guessed, more information. Here's the best part, they asking for information that they already have. This will be the 3rd time we've submitted that same information. To top this off, when the processor calls, they have the wrong file and begin asking questions about another applicants file. Gives you confidence. Doesn't it?
If you're searching for a bank to do a mortgage for you or to do a refi, this IS NOT the place.

I've rated only 1 star, but that's an overrating. I just didn't want doubt that I did not forget to rate. If I could figure out how to put a negative star rating I would.

As many other have said, STAY AWAY. It's no wonder BofA has lost the type of money that they've lost. They're incompentent.

OCWEN is ran by a bunch of indian zombies and should not be in customer service. their ratio of "escrow cushion" depletes through the year and deception of misc added tittles for subtraction. Stay away from if these guys if they take over your loan from HOMEQ mortgage co. JUST STAY AWAY !

The customer service of the bank is horrible. I have been calling for the past few days to pay off of my mortgage loan, but each time, have been given different information on how to proceed, even the customer service and loan pay off dept cannot provide their fax number accurately to send my request in writing. I called today the customer service rep, Robert, refused to transfer my call to their loan pay off department, and insisted that his info is accurate, but I called again and insisted to speak with the loan pay off department. Different info again. They cannot find my fax of several days ago either and asked to repeat all the process again. Bank of American sucks. Do not open an account or do business with them at all. Let them collapse!