Bank Of America
Bank of the Loan Sharks Bank of America finds another way to take your Money

B of A redefines grace period with new fee Posted: Wednesday, January 19When is a grace period not really a grace period? When you have to pay a $6 fee for using it.

Some Bank of America mortgage customers received an unwelcome Valentine's Day gift when the bank's policy for grace period mortgage payments changes on Feb. 14. Customers now have six fewer days to pay their mortgage each month without facing additional fees. They r going to have a party with this One.!!!

Consumers who use the bank's online payment tool, Mortgage Pay, will risk a $6 fee if they fund payments using another bank's checking account and the payment falls during the final six days of the traditional 15-day grace period. Consumers who make payments from Bank of America accounts are not subject to the fee.

"Now you go figure!??? They tell you that you have a grace period, (then) they say, 'Oops, you only have half of it if you dont bank with us, ' a lawyer for Consumers Union who specializes in banking issues has stated. [continued below]...

Company: Bank Of America
Country: USA
State: California
City: Simi Valley
Address: PO BOX 5170
Site: bankofamerica.com

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