---My Letter to Bank of America- Their Last Chance---

I know I have commented on the fraudulent activity of BOA in the past,
and have stated my frustration in their misapplying my payments.

I really do not want to pay our attorney to deal with them, therefore
I am sending this out as their "last chance".
I just spent over one hour on the phone with an agent who I could
barely understand, in which I gave him confirmation numbers of payments made,
and which he stated they would have to "investigate" before they credit the account.

They apparently "lost" our September mortgage payment, which was paid, as always before the due date.

I have confirmation numbers from the Billpay at the bank, confirming delivery of the payment.

This is the eighth time I have had to get this crap straightened out in 18 months. Either payments are "lost" or
erroneously credited to a "miscellaneous" posting place, instead of the payment due.

I have come to the conclusion that they are trying to steal our house.

I have gotten threatening letters stating we are in default, then when I call, they assure me we are not in default, however, when I ask the purpose of the letters, I get utter silence in response.

Meanwhile, they are ever ready to tack on late charges and report to the Credit Bureau.

God Bless those who truly are behind. This is insanity.

We have paid on time since we bought the house. Why harrass us?

TO whom it may concern,

This letter is to inform BOA that I will not tolerate any further bad faith demonstrations of BOA in misapplying my mortgage payments. The attached two pages show scheduled payments confirmed delivered for the past year (2009/2010), on time.

I expect my account to be credited accordingly and all late charges removed. In addition, any erroneous information given to credit bureaus and agencies will be removed and explained on BOA’s part to the reporting agencies.

If this bad faith is demonstrated at any point in the future, I will allow my attorney to take action against BOA, as well as contacting the Office of Coin and Comptroller, in addition to reporting BOA to the Better Business Bureau.

These errors have been “fixed” numerous times by telephone agents of BOA, as annotated in telephone logs, emails, and my statements reserved. Telephone agents have a plethora of ready excuses for these errors, though never the same one.
How many more times will bank wired, transferred payments be erroneously credited or “lost”?

Please credit my account forthwith for the confirmed August 31, 2010 payment and remove all late charges erroneously charged my account, which is the payment “currently” in dispute or “lost” by BOA.

Sincerely,

Good one, friend. It's time to hold these criminals accountable. The Banking Cartel is the biggest criminal organization in the world, and they are International. In truth only about 500 people control the wealth of the world. The house of cards is beginning it's long fall, and we will see former Wall Street Bankers begging on the streets before it's all over.

I use BOA and have never had a problem.

I've never had a foreign-worker answer the phone when I call and making my payments online through a simple of transfer from CHECKING to MORTGAGE is instant and easy. All confirmations are clearly listed on my account activity.

Sorry things aren't working out for you. Good luck in the future

reply to post by TXRabbit


Ditto. I have been with BOA for 15 years. Never a problem with my checking or mortgage. Transfers from my checking to my creditors has always been timely.

Sorry for your troubles OP!

I doubt that Bank of America is making a concerted effort to steal your home, but I could be wrong.

Likely what you are experiencing is what it is like to deal with a monster mega bank, a company that is so large and so back logged that they cant keep track of who owes what. Payments get lost in the shuffle or eaten by the electronic system that scans payments, or misapplies incorrectly. I have seen it happen a million times.

You arent experiencing a conspiracy to steal your home, truth be told BofA has such an enormous log jam of homes already that they cant sell, probably the last thing they want to do is have to deal with another foreclosure.

What you are dealing with is good old fashioned incompetance and what it is like to do business with a gigantic, impersonal mega corporation.

Please understand this:

BOA does not own your mortgage loan, they are only servicing it.

This means that your loan was sold to investors in MBS's. (Mortgage Backed Securities).

They are only collecting your payments on behalf of the investors.

Their profits are derived from "servicing" your loan, and if they foreclose they make more profits in the terms of "fees".

If you find that your payments are not accounted for correctly contact your State Attorney General. All State Attorney Generals are looking for stories such as yours.

I understand the frustration, but you will most likely need some patience as it will probably take time to get straightened out. Be tenacious in your efforts. Just as with anyone who is late on their mortgage they will call and harrass you everyday. I say tit for tat. Call them everyday until this is resolved.

Thanks for the encouragement...
So very frustrating dealing with this.

There are millions who don't pay their mortgage. I am NOT one of them, therefore, to me this is ludicrous.

reply to post by TXRabbit


I am certainly glad to hear that someone hasn't had a nightmare like this.
Good luck- hopefully those who are having no problem with BOA will continue to do so..

I use BofA and did for my home loan as well. Never had a problem; not denying yours. There's a similar thread on CitiBank on here now. I wonder, is there anything that happened with your loan that could have caused a 'glitch in the matrix'? Is there any more to this story that you'd be willing to share? It's just been my experience that if anything weird happens to disrupt the normal flow of things, stuff starts careening out of control. This can be stuff you caused or not--doesn't appear to matter.

reply to post by schuyler


No, we set up billpay through our bank and even paid a payment before we got the first statement, when we bought the house.

The payment arrives to BOA before the due date, each month.

I am being completely honest about this. I am willing to answer any questions, but believe me, I have tried to figure out how in the world this has consistently happened and I come up with nothing.

The only thing that could be "glitchy" is the fact that our house was not purchased through BOA, it was through another bank, which sold the mortgage before the ink was dry on the contracts. We received our first mortgage statement a week after a letter stating that they had bought our mortgage, however, the account number has remained the same the entire time. No change, as we took the account number off the "letter" to make our first payment, and it has remained the same. I looked into this as well.

Originally posted by thegoodearth
reply to post by schuyler

 

No, we set up billpay through our bank and even paid a payment before we got the first statement, when we bought the house.

OK. Well, the only differences are that I set up auto withdrawl. I think they gave me a reduced interest rate for that. And I started with BofA rather than got my loan sold. I was just looking for some hint. Good luck. BTW, just FYI a few years ago Wells Fargo began pestering me to change over to them for no fees. After about half a dozen times of sending me the entire 'switch over' packet I managed to very accidentally get a 4.8% loan (I had no idea what I was doing.) They handled the loan for several years until I paid it off. Never had a problem with them.

The last 2 times I called BofA (my current mortgage servicer), I had Indians answer the calls (dot, not feather).

Does anyone else find it a little ironic that Bank of America has people in India answering the calls? There should be a rule about using America in your name... like, the company should operate in America.

I digress... my original point was that in the last two times that I called B of A, both calls were met with sheer and utter incompetence... a complete inability to answer even the simplest questions.

Long story short, it isn't a conspiracy against you... Bank of America sucks!

Amazing how you can have such different experiences, isn't it? Last time I called BofA about telling them I was going overseas, so please make sure my credit cards work, I talked to a young man with perfect English. he did more than he had to. We even talked about where I was going (Egypt) and how amazing the saharah desert was. hethen transferred me internally when he couldn;t do the last thing I needed so I didn't have to go through another call. A perfect call in every respect, just what I expected.