Bank of America
Over $52,000 in Sinkhole Insurance Funds Still Held

Remediation work was completed on our home in October, and payment was received from our insurer in early November. Since we have a mortgage with BOA the check was made out to BOA's name, along with the sinkhole Company name, and our names (The property owner). A partial payment was made to the sinkhole remediation company in December, and the balance of over $52,000 has been held by BOA since then. On 1/17 I spoke with a representative of the bank and asked what further documentation was needed by them so that the balance of the funds could be released. Three items were requested, and to my knowledge all have been sent or faxed to BOA. Last week a lien was placed on our home by the remediation company since more than ninety days have passed since the completion of their work. I don't know who tends the fax machine at BOA, but obviously needed information is not getting to the proper departments or authorities. The homeowner is now forced to make multiple calls requesting duplicate information be sent, which may or may not ever reach the right person, and now has to deal with getting a lien removed from the title of their property. This is just bad business, and certainly not in the best interest of BOA since they also have a vested interest in this property, and it tarnishes our credit. When the property owner is fulfilling your requests for information in a timely fashion, we have a right to expect the same from you. Disgusted BOA customer.

Company: Bank of America
Country: USA

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