I had a 5-1 arm with Countrywide on my rental property. BofA took over the loan when Countrywide went out of business. I began the process to refi the loan for a 30yr fixed loan. The interest rate on the new loan was fairly high but at least I'd sleep better at night. I had a 60 day locked interest rate when the spinning began. BofA took my $450 fee and sent me prem
leminary paperwork to sign that didn't even have the correct address for the refi property. I sent the papers back 3 times and they kept sending me new papework with the SAME wrong address. The loan officer and other employees never returned my calls. I had to continually call them throughout the day to try and catch them so I could ask questions. This went on for 5 weeks. Finally, I gave up when I realized that they were jerking me around and that this loan would never be completed in 8 weeks. I couldn't even get correct papers in 5 wks to begin the process. I waited this entire time with my tax, bank etc. Docs for BofA to correct the preliminary paper work. I pointed this out to the loan officer and said that I wanted my $450 fee returned. He agreed to return my $450. It never was and he never returned 7 phone calls to him asking when I would receive my money. I have a high credit rating and good paying job that I have had for 19 years. I have avoided business with BofA in the past and will continue to do so in the future.
0 comments