Honestly, Yet Another Bank of America Blast

[tricia]

These guys have got to be the kings and queens of the morons. We have been struggling with them for over a year. The latest in a stream of problems is they claim we haven't made our last 3 house payments. Dec. Jan. Feb. We've told them over and over on the phone we have the canceled checks and would be happy to send a copy. But NO, they didn't want to deal with us. Finally today we get a letter in the mail telling us we are in default. DEFAULT? For what? So again we call them. Finally got a fax number to fax the copies of the checks to and they claim even then that they didn't get the fax. So dh sends another fax and now their claim is is that they won't know for 48 hours. You've got to be kidding me. With today's technology it will take 48 hours? These guys are amazingly idiotic. What's a gal to do!!:tongue_smilie: What happened to the "innocent until proven guilty" thing? I say, bring it on BOA. How can they stand against my checks that cleared the bank? But then again, we may lose seeing how stupidity has overgrown all the sense in the world.

Edited February 22, 2010 by tricia

[mcconnellboys]

They're all that way now. My husband just deposited a check a week or so ago and the machine apparently ate it. He was called and told that it would be something like 3 days before they got it credited to the account. Huh? They had it and could read it. Their machine ate it through no fault of his. He didn't even know there was a problem until they called him. Why was there a need for delay at all?

 

And just a few months ago, he got a call out of the clear blue that he hadn' paid the minimum on his card and so he had to make another payment right then or they'd continue to call him all day. He told them fine, then began researching the problem.

 

He was talking to them as I was driving to an out of town soccer game, so I got to hear the whole sordid thing, LOL, and you would not believe it. After almost an hour, when he insisted on speaking with some sort of supervisor and told them that he was going to cancel his account the following Monday morning (it was a Saturday) if they wouldn't let him speak to someone, low and behold! a supervisor was finally procured.

 

And wonder of wonders! They had an imprint of his check they could pull up on their screens. And his payment was for exactly the amount he thought he'd sent - way, WAY more than the minimum. Their mistake entirely. And they'd been telling him that his interest rate was going to go up to something like 40%, etc., LOL. Absolutely ridiculous! He has one card; uses it sparingly; doesn't carry a balance for long before he pays it all off, if at all; and has done so for years. A simple look at his record should have told anyone not to attempt such a thing with such a customer, but no......

 

So do I wonder at the mess with mortgages, which are even crazier than accounts and credit cards nowadays? No, I do not. I'm so sorry you're having this problem, but I would stick to my guns and engage counsel if need be. And I would insist on speaking with management, not underlings, too.....

[K-FL]

For one of the largest banks in the country, they sure aren't being run very well. Didn't they foreclose on a house (in FL, I believe) that didn't have a mortgage at all, much less with them?

[Mergath]

Small local banks are the way to go. I banked with both Wells Fargo and US Bank, and I will never, never go back. I think the huge national banks literally have lawyers on staff that get paid just to sit around thinking up ways to screw people out of money without getting sued for it.

[WishboneDawn]

I have to say, they're not ALL like that. Mine is awesome. When the bank we'd chosen to go with for our mortgage last year reneged on the offered terms the DAY the financing had to be in place for the offer our old bank stepped in and got us our mortgage in an afternoon. Something that generally takes several days at least. That's the biggest and most impressive thing but there have been many smaller ways they've helped us over the years.

 

Granted, it's the Royal Bank of Canada (I think it's now the 5th largest bank in the world?) and the banking culture is different up here and regulated differently as well but I DO love my bank. :D

 

I think RBC does have a presence down in the US though.

[Mergath]

Granted, it's the Royal Bank of Canada (I think it's now the 5th largest bank in the world?) and the banking culture is different up here and regulated differently as well but I DO love my bank. :D

 

 

Well that doesn't count then, everything is better in Canada. :D

[Delighted3]

Friends of ours received a foreclosure notice on their house and they had to move within 30 days. They had never been late with their payment because the mortgage co. was withdrawing from their checking account, but the bank went through the whole process of foreclosure without sending any notices until the very end. The mortgage people would not even deal with them after they got the letter and they had to move and the bank sold their house. They are now having to go to court to fight it. Their lawyer tells them they will get a big settlement, but in the meantime, they are homeless and living with her parents.

This wasn't with BOA, but it shows how stupid banks can be.

Joy

[....]

Hmmm...without giving out too much info...we have consulted with an attorney about BOA also. They said we have grounds for a lawsuit. We refinanced a mortgage that we already had with them and they started insisting (for 6 months or so) that we had BOTH mortgages. They ruined our credit reports so bad that we couldn't move or turn on utilities or put our house on the market until it got taken off. Then, it took them about 6 months to actually take stuff off the credit report. It took a year to straighten that entire situation and we had to get a lawyer.

 

The attorney said that they know what they're doing. Apparently, BOA is one of the scammiest banks out there. I refuse to even open a checking account at one of their banks.

[Guest Katia]

We had a bad experience with BOA as well, and I'll never, EVER use them again for any reason. Actually, we didn't use them to start with; they purchased our van loan from the original company we contracted with. Sigh.

 

I agree that small, local banks are the way to go.

[melissel]

This is all very good to know. I've had numerous bad experiences with Chase, but nothing on this level! We've been very happy with, of all companies, Citibank, though I know others have had problems. I'll keep the small, local bank element in mind if and when we switch again.

[asta]

If you hate BofA don't go near Chase...

 

 

a

[Guest Katia]

If you hate BofA don't go near Chase...

 

 

a

 

 

I totally agree with this as well. My sister used to work for Chase....the stories she can tell you would curl your toe-nails. Notice that she 'used' to work there. It was a horrible place and she couldn't stand it. They treat their employees almost as bad as their customers.

[mommaduck]

BOA continuously added erroneous charges to our accounts, so we closed them. BOA also ranked #1 on the worst banks in America list this year (yahoo ran a story on it several weeks ago). Simply put, they are out for their bottom line, however they can achieve it, not for the customer. The best thing everyone can do is dump them and let them disappear into their own mess.

[Guest Virginia Dawn]

Friends of ours received a foreclosure notice on their house and they had to move within 30 days. They had never been late with their payment because the mortgage co. was withdrawing from their checking account, but the bank went through the whole process of foreclosure without sending any notices until the very end. The mortgage people would not even deal with them after they got the letter and they had to move and the bank sold their house. They are now having to go to court to fight it. Their lawyer tells them they will get a big settlement, but in the meantime, they are homeless and living with her parents.

This wasn't with BOA, but it shows how stupid banks can be.

Joy

 

 

please do get some kind of legal representation, asap. Bank of America recently repossessed a house that they didn't even own the mortgage on, by mistake. The home owners came home to find that the all their personal possessions had been removed and their locks changed. They actually owned their house outright, the neighbors ten doors down are the ones that were in forclosure. The bank had been repeatedly told this was the case but refused to listen to even the real estate company that sold them the house!

[dirty ethel rackham]

Small local banks are the way to go. I banked with both Wells Fargo and US Bank, and I will never, never go back. I think the huge national banks literally have lawyers on staff that get paid just to sit around thinking up ways to screw people out of money without getting sued for it.

 

:iagree: However, just because you are with a small bank now doesn't mean that they won't get bought up by a biggie and turned into another 'screw the masses" type of bank. That happened to us. We were with a small bank. We knew the tellers and the mortgage team. They had our home loan and they didn't sell it. In comes a big bank that bought them out. So far, it is only mildly annoying. It's only a matter of time.

[kewb]

Ugh, I HATE, HATE, HATE Bank of America! They acquired our mortgage and we have had nothing but problems with them. I wish I had a way to get our mortgage away from them.

[DesertDweller]

We call it Bank of Satan around here. I hope I get to see the day that they are no longer the big giant that they are now. I know there are many people that are very dissatisfied with them. I would advise anyone that has anything with them to go somewhere else.

[melissel]

Ugh, I HATE, HATE, HATE Bank of America! They acquired our mortgage and we have had nothing but problems with them. I wish I had a way to get our mortgage away from them.

 

That's exactly how I feel about Chase :glare:

[kewb]

That's exactly how I feel about Chase :glare:

 

I hate Chase, too. We had the least problems when our mortgage was owned by Countrywide.

[Barb_]

These guys have got to be the kings and queens of the morons. We have been struggling with them for over a year. The latest in a stream of problems is they claim we haven't made our last 3 house payments. Dec. Jan. Feb. We've told them over and over on the phone we have the canceled checks and would be happy to send a copy. But NO, they didn't want to deal with us. Finally today we get a letter in the mail telling us we are in default. DEFAULT? For what? So again we call them. Finally got a fax number to fax the copies of the checks to and they claim even then that they didn't get the fax. So dh sends another fax and now their claim is is that they won't know for 48 hours. You've got to be kidding me. With today's technology it will take 48 hours? These guys are amazingly idiotic. What's a gal to do!!:tongue_smilie: What happened to the "innocent until proven guilty" thing? I say, bring it on BOA. How can they stand against my checks that cleared the bank? But then again, we may lose seeing how stupidity has overgrown all the sense in the world.

 

We had the EXACT same problem with Wells Fargo back in Dec/Jan. I think there are so many defaults and they are so understaffed that they hire anyone with an IQ of 85 who walks through the door. In our case, we are close to $300K underwater (yes, you read that right) on our morgatge and I would love nothing more than a reason to default guilt-free and pick up a sweet house for 1/3 of the price I'm currently paying. Idiots.

 

Barb