Bank of America Complaint

refinance

Reviewed by Darmy8
Complaint

started loan process May 10, came back from undwriting, with 3 conditions and said DTI ration were 55.7% (supposed to be 55%). So I lowered my homeowers insurance premium to bring ratios to 54.8%. I also have excellent credit, my scores are 740 and up and my house is worth $600,000, for which I want a loan to refinance only $330,000. I complied with conditons, changed insurance to bring ratios in line with requirements and BOA said, they would leave a balance on five of my accounts,(they were to be paid off with cash from loan)
so with added payments on accounts BOA

brought my ratios back up to 56.7%,so I ddidn't qualify. All they did was waste mmy time and cause me headaches.I will never deal with them again. I've had 7

mortgages over the years and never been turned down

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Comments - Consumers and Companies Connect by Commenting

misled says: (5 months ago)

IT sems like BOA IS DEFRAUDING PEOPLE ALL OVER AMERICA .the PRESIDENT OF THE US SHOULD BE INFORMMED ABOUT THIS . I FACED A SIMILAR SITUATION FROM BOA . they sat on my application for 4 months
kept giving me to runaround . and
now they claim I am ineligible.like you I have excellent credit and have never been turned down . NOw they took my application fee $400. They misled me all the way .

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