Bank of America is out of control

Bank of America sells house enrolled in HAMP and current to themselves for more than is owed.

www.kdvr.com...

Absolutely surreal. No indication here that the banks are in trouble!

B of A now has 18,000 employees that now work in "default management”.

Think about it.

[edit on 24-6-2010 by In nothing we trust]

I read the story and totally believe it.
I ended up with BOA after IndyMac and Countrywide were assumed by them.
SINCE that time they have,
taken double payments when 1 payment was scheduled for the month.
taken a month to put the money back into my account.
stopped taking online payments.
closed the BOA branch in my town.
stopped taking mortgage payments at the remaining office 2 towns away.
they dont keep good records of calls and info exchanged.
it has been pretty much an incredible mind hump dealing with them.
good luck to anyone stuck in the swirling vortex of logic loss called BOA.

The criminal part of this is:

They sold the house for more than she owed on the mortage!!!

The bank is simply a fraud agency and they get bailed out for doing bad business.

Disgusting for sure!

[edit on 24-6-2010 by theability]

reply to post by Scalded Frog


I lost all interest in doing business with them several years ago
after the constant mergers of different banks into BOA, and seeing service deteriorating. After going to a branch office for the last time to close out my account offically, I signed the normal papers, and assumed that was it. After moving out of state, I received a letter from them, saying that one additional form needed to be signed or the account would remain active, and a monthly fee charged. I then said fine, mail me the form and I will sign and return it as soon as received.

They insisted it could not be done, that I had to return to the bank in person, even though I advised them I had moved out of state more than a thousand miles miles away, and that was not practical or possible at that time due to the work situation, etc. After speaking to various supervisors, including the branch manager, she insisted that it must be signed in person, no exceptions. I offered to have it notarized in my new location, and this was still refused.

I make contact with the corporate office, and actually ended up speaking to the BOA's President's secretary at their corporate headquarters. She finally acknowledged, somewhat reluctantly,
that a notary public signature and stamp would be acceptable even
though it was from a "foreign" entity. They considered Colorado
to be "foreign"??.....Guess that's why they don't have any BOA bank branches there, or at least didn't at that time.

local Citizen banks, the big guys are just cutthrought and dont care who they crush, and have uncle Wiskers big hand on their shoulder at all times. Local citizen banks, co-ops, credit unions, when these big banks get confiscated, and so does your cash, its the locals that survive for you the longest, before they are gobbled up too. I was doing research into banks just yesterday for a new account i want and first thing i did was look at which banks in my state took took Tarp Funds, they were disqualified right away. Next i looked for internal institutional ratings of banks in my area, then which of those had a sound foundation of long term private investment in MY local community, i discovered a local bank, i wont name it here, that met all those criterias for 130 years in this community. That is were i will be banking now, think local guys, whats tangable in your area, the big boys will all be owned by the gov soon, think local.

I worked for Security Pacific Bank, one of the few large banks that did not have issues back in the '70s when BoA was bailed out...

It was so weird to see a bank that was bailed out a decade before buy Security Pacific (at one time the 10th larges bank in the US)!

Something just didn't seem right.

That's what I hate about banks and credit cards. An unforeseen event causes you to be late or something, and it doesn't matter if you were the model of good payments, you must be punished.

It was my understanding that my former bank was getting more strict on giving back overdrafts. You are not a person to big banks, just another "thing" that can be profited off of.

I'm using a pre-paid Visa these days, which keeps me out of that whole overdraft mess. If you use these cards correctly, it's not a bad deal. No overdrafts, and a small, but predictable fee. If you use the Money-Pak way to re-load, there does come a small fee. Here again, deposit wisely, and as infrequently as you can. Depositing a paycheck can be free.

Dang, I realize I'm off topic a bit, but banks are just doing a screw job on the citizens.

reply to post by Scalded Frog


AS soon as I get my card paid off I AM OUT OF THERE.

NO MORE B of A for me. I will not support these thieves anymore. I will not support the heartless corp. FRACK THEM FRACK THEM ALL>

I suggest to everyone they take their money from the banks. SHUT THEM DOWN. We really don't need them and it may be the only way to get out of this mess.

Originally posted by cybertroy
That's what I hate about banks and credit cards. An unforeseen event causes you to be late or something, and it doesn't matter if you were the model of good payments, you must be punished.

It was my understanding that my former bank was getting more strict on giving back overdrafts. You are not a person to big banks, just another "thing" that can be profited off of.

I'm using a pre-paid Visa these days, which keeps me out of that whole overdraft mess. If you use these cards correctly, it's not a bad deal. No overdrafts, and a small, but predictable fee. If you use the Money-Pak way to re-load, there does come a small fee. Here again, deposit wisely, and as infrequently as you can. Depositing a paycheck can be free.

Dang, I realize I'm off topic a bit, but banks are just doing a screw job on the citizens.

I don't think your off topic, great advise! Thanks.

BOA is the WORST bank I've ever had the displeasure of dealing with. Anyone who sticks with them must enjoy the grease-less bend over and horrible customer service which they are well known for.

She needs to sue, it was an unlawful foreclosure. If she has the documentation it will be easy to get it thrown out. There is a process one has to follow when foreclosing. The occupant has to be notified. BOA is a scum bank. I stopped doing business with them years ago and I am thankful for it.

The woman, after not having made payments in several months, I am sure accumulated late penalties, collection costs, and owed interest payments. Hence, her statement that BOA sold the mortgage note for "more than she owed". More like: "more than she thought she owed".

Until you hear BOA's side of the story, this is just another hyped media play by a deadbeat whining about a big bank.

Work injury, you say? Yep, and my cat ate my homework.

Never received notice that the house was in foreclosure? Does she ever check her mail?

Cry me a river. I am so sick of hearing of these lame, whiny stories about people that don't make their mortgage payments and somehow magically expect the government to bail them out of their unfortunate situation.

Why should the American taxpayer have to fund a deadbeat?

I would never use Bank of America. A company I worked at for 7 years used them and I often took care of financial business for the company. They are among the worst of the worst. If you don’t believe me check out this link.

amplicate.com...

If they have not screwed you yet unless your very rich they probably will in the future. A friend of mine lost his life savings ($33.000) after he asked them to close an account and transfer the funds to another. They did not close the account and somehow the money ended up gone. They said is was not their responsibility.

He has filed suit but I doubt he will get anywhere.


[edit on 25-6-2010 by ovelaset]

Originally posted by CookieMonster09
The woman, after not having made payments in several months, I am sure accumulated late penalties, collection costs, and owed interest payments. Hence, her statement that BOA sold the mortgage note for "more than she owed". More like: "more than she thought she owed".

Until you hear BOA's side of the story, this is just another hyped media play by a deadbeat whining about a big bank.

Work injury, you say? Yep, and my cat ate my homework.

Never received notice that the house was in foreclosure? Does she ever check her mail?

Cry me a river. I am so sick of hearing of these lame, whiny stories about people that don't make their mortgage payments and somehow magically expect the government to bail them out of their unfortunate situation.

Why should the American taxpayer have to fund a deadbeat?

You mean like when the taxpayer bailed out the deadbeat BoA?

Yeah man, let deadbeats fail. Starting with BoA.

Bank of America is a den of thieves, and I'll never deal with them again. Never.

[edit on 2010/6/25 by nenothtu]

I've had the same problems with BofA, so I left to Chase. It is almost like they are doing these things on purpose to force Americans to leave the Bank of America. Maybe, it is all part of a bigger plan to bring down America, or maybe they are just the prototype POS bank run by scum.

[edit on 25-6-2010 by tooo many pills]

I had major problems years ago with a BoA checking account. I hate them with an intense passion.

I HIGHLY recommend everyone get out of the big banks and join a local credit union.

This is just sad very sad.I hope she get's every penny she ever payed them and then some for her having to deal with those redundant people

I've always heard that B of A was a horrible, although I had a credit card with them that was out of control, and they worked with me to work it down...that was like 5 years ago though. I pulled my money from a savings with Chase because I did not like their purchase/takeover of WaMu...I have heard from some ppl that Chase is one of the better banks

Too much is left unsaid in this report. The report is obviously presented to make good drama for local news. Notice the constant cut to the Rx bottles on the table, having nothing to do with the problem. The question, "Where does a homeless person go?", when she is not homeless. The cutting of the camera view to the cross necklace she’s wearing when the "victim" claims she never received anything from BofA on her house being sold, as if to say she wears a cross so she wouldn't tell a lie.

Notice what is not said. How far behind was she when she tried to get the Making Home Affordable loan? Had she already passed the point of no return in the foreclosure process? Could she have received notice her new loan had went through in error, since the final foreclosure step had already happened at about the same time?

I have had BofA as my mortgage holder for some time since they took over Countrywide. I have only experienced prompt and positive treatment by them. In fact, I am now proceeding with the same type loan refinance myself. The difference is, I always pay my fixed rate loan ahead of the due date and I am only refinancing to get the lower interest rate on a fixed rate loan. I will thus lower monthly payment considerably.

Hey, everyone seems to have "horror stories" about all banks, but usually it involves either borrower fault or mistakes on the banks part, that can be corrected. All I am saying is something just isn't being said in this news piece and I would like to see the follow-up story.