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Anyone else dislike Bank of America for Home Loans, even if they are current?
They have been hassling me over my homeowner's insurance for months. I renewed my insurance in December. Whether or not the agent faxed them a copy of the declaration page I do not know because I was not standing over his shoulder. However, I have faxed them the declaration pages 3 times now. The first time they said the policy number was chopped off. I never received a letter stating this, I had to call and find out. Strange that no other faxes seem to have that problem, but OK, maybe it was. So I sent it again. Again, no mailed response, it took a phone call to determine the problem. This week I sent it again. They said they it would take 24 hours to update. I called 3 days later and no record of it in their system. The person today said it could take 48 hours. (Which is it - 24 or 48 hours?)
During all of this, they decided to put lender placed insurance on the home, then they changed the lender placed insurance amount, and then they opened up an escrow account without my permission.
All because they cannot process the faxes they request.
The bills state that you can call 7am-7pm local time, but "local time" is not MY local time - it is some other time.
And if you call them to ask about refinancing they do a hard pull on your credit, even if it is just to ask about products and never agree to anything.
Years ago Bank of America was a pleasure to do business with. Not anymore.
My coworker has a mortgage "owned" by them and he hates them with a passion. He's dropped their bank account and their credit card, but is unable to refi to get away from them.
I still have a checking account with them because I can make an online transfer to my mortgage account for extra principal payments. Its the only thing I use it for, and if they charged for that, I would have closed it already.
I also loathe bank of America. I will never have ANY accounts with them and have told numerous friends and family to close credit cards with BofA, and they have done so.
Interesting - I've never had problems with them with my mortgage. Contacted them to ask about removing PMI as we pay down the balance, they're quick to do the calculations. When my escrow account goes too high, they cut me a check and lower the mortgage, taking into account what they're actually paying out. Only "issue" i've had is they estimated my taxes too low raised the mortgage after paying it to make up for it, it'll probably go back down now that my county has set the new tax rates.
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