- Report: #802601
Complaint Review: Bank of America - Internet Nationwide
Reported By:
Trish -
Fernandina, Florida, United States of America
Submitted:
Updated:
-
Author Not Confirmed
Why?
Bank of America
11802 Ridge Parkway, St 100, Broomfield, CO,80021 Internet, Nationwide, United States of America
Phone:
1-800-669-6650
Web:
www.bofa.com
Categories:
Business Rating:
(0)
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Bank of America BAC Raised payment instead of lowering it, used past financials instead of current ones Internet, Nationwide
I have had a mortgage with Bank of America (13 years now)and recently had to get a loan modification through their "Making Homes Affordable/Home Retention Program".This was supposed to lower the payment to make it more affordable. A loan calculator estimated my new payment to be between $340 and $400 a month. I have not worked in 2 years and my daughter is supporting our home on a housekeepers salary. I sent them pay stubs for months and they took the largest $$$ ones from way back in June, July and August 2011(which is a hospitality housekeepers high season) instead of the most recent ones from August 15th to current which are considerably lower. This "modification" was done 2 weeks ago but they didn't use our current financial situation. They also included an outrageous amount of food stamps as monthly income.
We started out on a 3 month "Trial Period" (08/2011) with payments of $557.03 (slightley higher than our regular payment was)and finished them successfully. I called them at least once a week when the process started back in June 2011 and faxed them every 2 weeks with pay stubs (that were getting smaller and smaller) and documentation to prove we were not getting $447 in food stamps every month. I also asked several times if food stamps would be counted as income, if so we would drop them. I can go to a food bank to get food, but can't go anywhere and get a roof over our heads. They never answered the question even though I asked repeatedly.
So instead of lowering the payment to "Make Homes Affordable" as they say in writing that they will do, they raised the payment (now $557.72) and I was told to take it or leave it. They only lowered my interest rate by 1.25%, from 7.75% to 6.50%. Then they told me there was NO ONE in the entire company between my account manager and the underwriters that could answer any of my questions or help me. They called me continuously until I finally signed the papers, I felt I didn't have a choice. After I signed them, the BAC (Bank of America/Country Wide) "HOPE" department called me and said I should have been offered a negotiator, but now it was too late. I called my "account manager" today 11/28/11, and he told me the underwriters were the negotiators but they don't talk to clients. So who was supposed to talk for me? The case manager who told me to "take it or leave it"?
There has got to be something we can do. And guess who underwrote the loans! FANNIE MAE and FREDDIE MAC!!!!!
We started out on a 3 month "Trial Period" (08/2011) with payments of $557.03 (slightley higher than our regular payment was)and finished them successfully. I called them at least once a week when the process started back in June 2011 and faxed them every 2 weeks with pay stubs (that were getting smaller and smaller) and documentation to prove we were not getting $447 in food stamps every month. I also asked several times if food stamps would be counted as income, if so we would drop them. I can go to a food bank to get food, but can't go anywhere and get a roof over our heads. They never answered the question even though I asked repeatedly.
So instead of lowering the payment to "Make Homes Affordable" as they say in writing that they will do, they raised the payment (now $557.72) and I was told to take it or leave it. They only lowered my interest rate by 1.25%, from 7.75% to 6.50%. Then they told me there was NO ONE in the entire company between my account manager and the underwriters that could answer any of my questions or help me. They called me continuously until I finally signed the papers, I felt I didn't have a choice. After I signed them, the BAC (Bank of America/Country Wide) "HOPE" department called me and said I should have been offered a negotiator, but now it was too late. I called my "account manager" today 11/28/11, and he told me the underwriters were the negotiators but they don't talk to clients. So who was supposed to talk for me? The case manager who told me to "take it or leave it"?
There has got to be something we can do. And guess who underwrote the loans! FANNIE MAE and FREDDIE MAC!!!!!
2 Updates & Rebuttals
Karl
Highlands Ranch,Colorado,
USA
7,899 TV ADS POEM....
#2Consumer Comment
Sun, January 08, 2012
was submitted at this website on January 8, 2012.
Just type in 799959 at this site to see if it is available in the consumer comments section at Ripoff Report #799959.
Thank You
WELCOME TO THE U.S. GOVERNMENT- ONE BIG LIE THAT IS ULTIMATELY BEING CONTROLLED BY A CARTEL OF CORRUPT, GREEDY, AND INEPT BANKERS
Karl
Highlands Ranch,Colorado,
USA
Encore presentation of- HOPE POEM
#3Consumer Comment
Tue, November 29, 2011
HOPE POEM
All leaders lie
There is no hope
They work for bankers
Each one is a dope
Most leaders cheat
Some like to grope
Recession is coming
Please tell the Pope
This poem is over
To hell with the 'hope'
Will things soon get better
The truth is this- NOPE!
End.
Anyone can type in 670248 at this site to see that the above poem was originally submitted in the consumer comments section at Ripoff Report #670248 on September 16, 2011.
"HOPE POEM 2" is also available in the consumer comments section at Ripoff Report #670248.
Thank You
***PROTESTER ALERT: Don't forget to type in 481508 at this site to see if "PROTESTER SONG 8" is available in the consumer comments section at Ripoff Report #481508. Please make sure to read Ripoff Report #481508 and spread it all over the web at sites like Twitter & Facebook!
