- Report: #324845
Complaint Review: Bank Of America Mortgage - Richmond Virginia
-
Author Confirmed
Why?
Bank Of America Mortgage
http://nofeemortgageplus.bankofamerica.com/#/first/1/ Richmond, 23226 Virginia, U.S.A.
Phone:
904-987-8813
Web:
N/A
Categories:
Business Rating:
(0)
Tell us has your experience with this business or person been good?
Bank Of America Mortgage Denied mortgage 3 days before closing Richmond Virginia
I am a first time home buyer. I have an account with Bank of America, so I decided to research a mortgage with them, in order to make my payments easier. Upon finding a house I decided to actually go into the bank at my local branch to fill out the paperwork. The initial paperwork was a breeze. The very friendly Bank manager set me up with a No-fee mortgage plus loan, financed at 95%, which would have me putting down a 5% down payment, and closing in 30 days. I signed and faxed everything that was asked of me, and went out of my way to get my side of the paperwork done on time.
I should have noticed that something was wrong when I got absolutely no phone calls from the bank for the first 2.5 weeks after signing my contract. Exactly two weeks before closing, I got a message from B of A on my answering machine saying that the bank could not do 95% financing, and that 90% was the best they could do. After the initial panic of having to put down TWICE the down payment that I was quoted, I put my tail between my legs and asked my relatives for the difference. The bank then told me that they would re-write the loan at 90% financing, and that after signing a couple of papers I would be good to go on closing day. Today- 2 business days (5 days) before closing, B of A calls and says that they cannot give me the loan at all. They have waited until I have absolutely no options, and pulled the rug out. Come May 1st, I will have no place to live, a rented moving truck, and nothing but contempt for a company that would wait until right before closing day to deny my loan.
It is impossible to get anyone on the phone. They even had the balls to send me a completly blank good-faith estimate. Please, DO NOT GO DOWN THIS ROAD. Learn from my mistakes, and do not use Bank of America.
Pissed first time home buyer
Richmond, Virginia
U.S.A.
I should have noticed that something was wrong when I got absolutely no phone calls from the bank for the first 2.5 weeks after signing my contract. Exactly two weeks before closing, I got a message from B of A on my answering machine saying that the bank could not do 95% financing, and that 90% was the best they could do. After the initial panic of having to put down TWICE the down payment that I was quoted, I put my tail between my legs and asked my relatives for the difference. The bank then told me that they would re-write the loan at 90% financing, and that after signing a couple of papers I would be good to go on closing day. Today- 2 business days (5 days) before closing, B of A calls and says that they cannot give me the loan at all. They have waited until I have absolutely no options, and pulled the rug out. Come May 1st, I will have no place to live, a rented moving truck, and nothing but contempt for a company that would wait until right before closing day to deny my loan.
It is impossible to get anyone on the phone. They even had the balls to send me a completly blank good-faith estimate. Please, DO NOT GO DOWN THIS ROAD. Learn from my mistakes, and do not use Bank of America.
Pissed first time home buyer
Richmond, Virginia
U.S.A.
1 Updates & Rebuttals
Pissed first time home buyer
Richmond,Virginia,
U.S.A.
RESOLVED
#2Author of original report
Fri, April 11, 2008
Just so you know, some times stuff works out. An awesome bank employee pulled us out of the fire at the last minute and we got the loan. Still, I would be cautious. If not for the one bank manager that actually cared, we would be totally boned.
