Bank of America
$500 fee for NOTHING! - Mortgage Practices

We refinanced early 2009 and as a part of it, got a line of credit. Though the refinance place swore they rarely sold a mortgage, they did and BoA bought it. We never used our line of Credit but paid $75/year to keep it open. Our house was one the market two years and finally sold. At closing BoA wants $500 to close the LoC claiming we had to hold it for 3 yrs. Bolderdash! There was no penalty for early payoff - and we NEVER USED IT so how can it cost $500? This is just wrong so I am complaining loudly and in every forum I can think of. We've called the local bank and they are "looking into it" - code for blow off.

Company: Bank of America
Country: USA

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