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Sarasota - Bradenton - Venice area Manatee and Sarasota Counties
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Old 12-03-2008, 11:36 AM
 
Location: sittin happy in the sun :-)
3,645 posts, read 7,119,833 times
Reputation: 1877

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well thats the polite word !! as you may know we agreed to buy a home in Rotonda. We met with an advisor from BOA back in October and were prequaled etc etc . since then it has taken them ages to get moving.

11 days ago we were told that underriting had made a decision, the underwriter would not tell us what it was and since then we have been emailing and calling the agent.

Today some 7 weeks later -we get a curt 2 line email. " your application has been denied 2 not even an apology for keeping us waiting 11 days. 'your phone has been busy' - what for 11 ******* days !!!!!!!!!!!


So now with closing 12 days away I have to rush around finding another mortgage company.

And the real joke BOA have no complanints system- one person didnt even know if they had a Head Office.

I can heartily recommend - DO NOT USE BOA.

Mr S -heading for the wine
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Old 12-03-2008, 12:47 PM
 
346 posts, read 1,338,062 times
Reputation: 174
That's quite a surprise there. LOL

This is why I bank with a credit union and do all my mortgages and loans through my credit union. No complaints with them. Sorry to read about the hardship they've literally pressed upon you. We stopped using commercial banks about 9 years ago because they nickel and dime you to death and provide such LOVELY service. They literally laugh all the way to the bank with your money in hand.
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Old 12-03-2008, 12:53 PM
 
Location: Punta Gorda and Maryland
6,103 posts, read 15,036,985 times
Reputation: 1256
Boy, Sorry to hear that! :-(
I hope you are able to recover on this. They provided great service for me.
Gotta run, but I will post more later. ;-)
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Old 12-03-2008, 01:09 PM
 
Location: Florida
4,893 posts, read 14,099,399 times
Reputation: 2329
I could have told you BOA sucks....they actually have a website on how BOA sucks...if you google BOA sucks, it will come up.


Good luck.
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Old 12-03-2008, 01:43 PM
 
Location: Ohio
1,217 posts, read 2,824,461 times
Reputation: 2253
can your realtor help you?
they should have known or suspected this. I've found some are really on the ball, even knew about the credit crisis and no loans being made back when we were selling (Mar 2008). At the time I thought she was just motivating us to sell in a hurry but she was right. We took the first offer and are happy.

also, hope you had a clause covering you if you couldn't get a loan you can hold off settlement.

Last edited by imagardener; 12-03-2008 at 01:45 PM.. Reason: added on
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Old 12-03-2008, 02:08 PM
 
Location: sittin happy in the sun :-)
3,645 posts, read 7,119,833 times
Reputation: 1877
to be fair our realtr has been 100% and I have already spoken to another broker who is getting things organised. The selling bank have said they will agree o extend if need be.

What annoys me is i am only borrowing $80k on a home valued at $175 and my credit history is excellent and my income more than sufficient.

It may mean i have to fly over to complete the papers :-) I have asked BOA to consider paying my costs as compensation.

The complaint letter i have just sent is rather un-complimentary. Aided by 2/3 of a bottle of wine !!

Mrs S will be home in 15 mins - and I get to break the news to her.................
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Old 12-03-2008, 02:18 PM
 
Location: sittin happy in the sun :-)
3,645 posts, read 7,119,833 times
Reputation: 1877
Quote:
Originally Posted by Ladywithafan View Post
I could have told you BOA sucks....they actually have a website on how BOA sucks...if you google BOA sucks, it will come up.


Good luck.

I just found it- I will be signing up and adding my piece.

I think it is very fortunate there are 4000 miles between me and the agent or else harm may have been done
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Old 12-03-2008, 02:28 PM
 
Location: Florida
4,893 posts, read 14,099,399 times
Reputation: 2329
Quote:
Originally Posted by mr&mrssunshine View Post
I just found it- I will be signing up and adding my piece.

I think it is very fortunate there are 4000 miles between me and the agent or else harm may have been done


As I said, I've been with them forever. They do have the most ATM locations & when I was rolling in cash they were all good & fine. Now, I had a safety deposit box that I had not paid on for a couple of years. They went & took the $195 out of my checking. This bill was three years old. It pissed me off because I figured, what took them so long, #1 and then #2, although I knew I was at fault for not paying & there was probably a clause somewhere about it, it just seemed IRONIC that with the economy the way it is, that they were in effect, "calling in debts owed". Luckily, I did not overdraft on that manuever.

In the past having overdrafted with them, I've learned it's better to use my credit card & keep the cash in the account then to use an ATM card with any frequency...you'll read on that site how they can overdraft you on five items even when you have the available cash due to the way pending transactions go down....

Also, they put cash on hold...I'm not sure if other banks hold cash but BOA does....and I thought cash was cash?
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Old 12-03-2008, 04:48 PM
 
383 posts, read 1,020,649 times
Reputation: 83
Mr.&Mrs.S, The mortgage broker that we used for our home was the greatest, and he had several lenders that He works with and is very fair and quite knowledgable . I'm not sure how to do a personal message through the forum, but I'm thinking that would be the way to give you his information,by E-mail. He is in the Sarasota area,and I really think he could help you out quickly.
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Old 12-03-2008, 05:06 PM
 
23 posts, read 93,601 times
Reputation: 28
Default So Sorry :-(

What a bummer! I think BOA bought out Countrywide or vice verse and I know they do stink. On the bright side, I'm an appraiser and I have known a few loans to go through in less than a month. The new mortgage company should be able to send a new request for the appraisal to the original appraiser (if you know who it is - by the way, if you paid for it, you're entitled to a copy of it). The appraiser should be able to, for a nominal fee (they will have to re-inspect the property), get it to the new mtg company fairly quickly. Good luck and keep us posted.
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