Bank of America
Fraudulent charge on Cancelled refinance - mortgage refinance

Having done business with BofA for over 20 years, we started a refi on our home in August (did this 2 yrs ago with BofA - no problems). Our mortgage amount is less than 35% of the appraised value, we have sufficient income and highest credit ratings. Did not hear from the loan processor for over a month. I called as our closing date was less than a week away. She was rude, inconsiderate, unprofessional - said she did not have our figures yet since we were not the ONLY clients she was working with! The day before closing she still did not have figures nor would she answer any of our questions or agree to where the signing would take place. Since she was totally ignoring the timeline BofA had established and NOT helping us at all, we told her to cancel the refi - we no longer felt any trust with the company, all due to the problems on HER side and her unprofessional handling our loan. To our surpise, BofA/Merrill Lynch charged our credit card for $500 cancellation fee as a cash advance, which caused fees of almost $50 to be added to our credit card charges (on top of the $500). THIS IS NOT FAIR OR RIGHT! I have tried to contact BofA to dispute all of this charge since WE had proceeded with the refi correctly - it was the fault of the loan processor that we cancelled. We currently have over $1 million in investments with BofA/Merrill Lynch as well as our present home mortgatge. AND we are currently looking for another financial institution to handle our mortgage and investments since BofA/Merrill Lynch obviously does not consider us to be important enough to warrant honest treatment!

Company: Bank of America
Country: USA

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