BoA (for sale, real estate, foreclosures)

[Foxrivman1]

Originally Posted by Big House

BoA is one of the biggest lenders in Florida (and I think continues to be), although since acquiring countrywide they have lost Billions.

BofA is the biggest lender period, they have been around since the 60's, they have aquired far more than just Countrywide over the years, the gobbled up a laundry list of smaller banks and currently own Merrill Lynch, CNBC, as well. They made a siginificant amount of bad loans prior to Countrywide and were a large contributor as well to the mortgage debacle.

They are for the most part one of the biggest benefactors of the bailout. AIG, is one of the biggest benefactors of the bailout as well, like I said, they deserve each other. For either to claim foul, is ridiculous.

They both had there drooling mouths wide open at intake of every potential new loan/insurance prospect in the early 2000's where fine details, and in some cases blairing deficiences were overlooked to perpetrate the quick underwriting of packaged mortgage backed securities guarranteed to basically make all of the bank executives and hedge fund operators filthy rich. What will be really intersesting is whether or not anybody goes to jail over it, most likely, just like the before, nobody will!

Here is another thought, if BofA is successful in their offer of 8.5B to settle the case out of court, they will have gotten away with not only duping the tax payers to recover their losses with the bailout, they will still own the properties that are in default, the securities with Merrill Lynch and settled for a very small portion of the actual financial problem that they along with many others along the way have created. They will still be on top long after the preverbial dust settles. If not, I will be more than happy to eat my words.

[Big House]

Originally Posted by PaulaC

OK, so I don't like BOA either.
So, my question is, what bank do folks in this are like and use? Is there a good local, community bank that isn't getting ready to be shut down? I ask because I have recently moved back to the area and only have read stories on line about many banks in FL being closed down. I would like to switch our accounts to a good, local bank that has online banking, etc. I know BOA stock went in the tank today, but I don't own their stock, just have accounts there.
BTW, we live in Parrish if that makes any difference as far as branches go.
That being said, I've never had a problem with BOA, but I don't agree with many of their policies. It sure is hard to find a good business to deal with anymore.

I dealt with Englewood bank because one of my partners lived near by. They were very friendly and service oriented, they tried to accomodate many of the things I needed to have done.

My problem is that I travel - a lot, and lived in MD as well has here (recently sold my MD home), so I use BoA. I have had accounts with them for a very long time. One time, they reduced a business line of credit I had with them, for no valid reason - it was during the Jimmy Carter hyper-inflation era, and they wanted to. We never used it except it demonstrated we had additional financial strength, many of our competitors didn't. The reduction has frustrated me, and it always has.

Now I still bank with them, and they bend over backwards to accomodate me, but I know they treat me differently, and I remember how I was treated. It still ticks me off, so I invest and hold most of my money elsewhere.

I don't want to see any bank or US financial institution hurt, especially right now. But, maybe this will help some of the smaller banks gain strength. That would be good for everyone.

A bank that is too big to fail, and gets plundered by bad deals - like buying Countrywide (FIASCO!!), and getting sued by everyone because they have made big blunders isn't going to protect everyone's money that is in there. They are still profitable, but may need to raise capital soon, and I believe they will be able to do that, but if they don't guess who will utlimately back them up!?!

Oh, I hear good things about Calusa Bank as well, and they may be affiliated with Englewood - don't quote me on that though.

[Big House]

Originally Posted by Foxrivman1

BofA is the biggest lender period, they have been around since the 60's, they have aquired far more than just Countrywide over the years, the gobbled up a laundry list of smaller banks and currently own Merrill Lynch, CNBC, as well. They made a siginificant amount of bad loans prior to Countrywide and were a large contributor as well to the mortgage debacle.

They are for the most part one of the biggest benefactors of the bailout. AIG, is one of the biggest benefactors of the bailout as well, like I said, they deserve each other. For either to claim foul, is ridiculous.

They both had there drooling mouths wide open at intake of every potential new loan/insurance prospect in the early 2000's where fine details, and in some cases blairing deficiences were overlooked to perpetrate the quick underwriting of packaged mortgage backed securities guarranteed to basically make all of the bank executives and hedge fund operators filthy rich. What will be really intersesting is whether or not anybody goes to jail over it, most likely, just like the before, nobody will!

No one is going to jail over being stupid!! Thank god, cuz they'd have put me away and never let me out.

Now, fraud - theft - and verifiable neligence now that's a different story.

[mrs.cool]

I have a great picture of our daughter chasing Kenneth Lewis down the street with a camera and reporter in tow trying to get him to talk. (She works for CBS News). It's really funny.
I hope all their issues don't affect the credit card I have with them. I LIKE my Rewards Points!!

[beachbum wannabe]

Originally Posted by mrs.cool

I have a great picture of our daughter chasing Kenneth Lewis down the street with a camera and reporter in tow trying to get him to talk. (She works for CBS News). It's really funny.
I hope all their issues don't affect the credit card I have with them. I LIKE my Rewards Points!!

Lets see the picture,that sounds hilarious

[Coachgns]

Unfortunately, TD Bank isn't in sarasota. Their Customer Service is really good. But their online banking is not up to B of A standards. I don't like bofA, but since I do 99% of my banking online, I do keep my checking with them because their online system is, in my opinion, far superior to the other banks'.

[PaulaC]

Perhaps checking with a local CU would be a good idea at this point. I agree that BOA has one of the best on line banking systems going and that will be hard to beat!
Either way, fraud and corruption must have consequences at some point, so I'll do my duty!
Thanks, everybody...

[justNancy]

Originally Posted by PaulaC

OK, so I don't like BOA either.
So, my question is, what bank do folks in this are like and use? Is there a good local, community bank that isn't getting ready to be shut down?

There is no way of knowing this. Even FDIC won't list the banks that are in trouble. You can check ratings on [URL="http://www.bauerfinancial.com/btc_ratings.asp"]Bauers Financial[/URL], but they're just a guide.

Just look for the best rates and the site that's easiest to use. I've been using online banks like ING and Discover for many years and never met any of their employees. They used to offer really good rates for checking. However, things have changed.

Also, a bank rating is not a big issue. That can change in a heartbeat. Just check the [URL="http://www.fdic.gov/bank/individual/failed/banklist.html"]FDIC failed bank list[/URL] once in a while. When I first moved to FL, Barnett was my bank, which became Nations Bank, which became Bank of America. I had an account with Bank of Florida Southwest (4 stars) and it had the most impressive lobby I've ever seen. I thought I made a mistake and walked into a 5 star hotel. Well, it also failed and is now EverBank. BankUnited was the largest Florida based bank. FDIC seized its assets in 2009 and they were sold to a group of investors. I had a CD at the time and my money was still there when it matured. I also had a checking account with Colonial Bank when FDIC seized it in 2009 (now BB&T) Nothing happened, although I had to get a new debit card. In 2007 I was with World Savings in Bonita Springs. That was taken over by Wachovia which is now Wells Fargo. The way things are going, they'll all say "Bank of China" soon.

There are other threads on this subject, but I disagree with those who think hot coffee and cookies mean anything when you're depositing your money into a bank. As long as you get good service and an easy-to-use online billpay, to me a bank is a bank is a bank. Pick the one that's the most convenient for you. Orion Bank in Naples was the fanciest bank I ever walked into, even more glitzy than Bank of Florida. It was consistently ranked one of the most successful & stable banks in Florida. In March, Jerry Williams was indicted for fraud. (He was the CEO)

[justNancy]

Originally Posted by LovePalms

We like [url=http://www.achievacu.com/personal/home.aspx]Welcome to Achieva Credit Union[/url] -- but their online banking isn't the greatest.

Chase and Citibank are both decent, but charge a monthly fee if you don't meet their requirements.

I would stay as far away as possible from Wells Fargo and BoA.

Not trying to start an argument, since I don't like Bank of America too much either. However, if you're going to recommend a bank like Chase and then say to stay away from BoA and Wells Fargo, it doesn't make any sense to me, since Chase has had more mortgage fraud complaints than any of them.

[41mag]

we have used bb&t for 3 years now no problems,also fifth third because they have quite a few branches across certain parts of the country