Performance Boats Forum banner

1 - 10 of 10 Posts

·
Bass Lake Dream'n
Joined
·
3,082 Posts
Discussion Starter #1
I've been trying to refi my home with B of A for the last 2 months. Not trying to modify, we are financially doing great, we both have 800+ credit scores and $ in the bank. All I want is a lower interest rate. No cash out, no games. They contacted us and offered a 4.5% 30yr fixed buying 1 point. We did the math and it looked like a good idea, we are currently in a 5.75% 30yr fixed w/ B of A. So, they send out an appraiser, he spends 10 minutes at my house, says nothing and leaves. 3 days later B of A calls and says we qualify for the refi, emailed us the paper work for us to agree to start the process. They also locked us in at the 4.5% rate. That rate was locked in till June 1, that's right, today. Last week we get a call from them saying we no longer qualified due to our house appraising $80,000 less than they had told us it appraised at when this whole thing started. WTF! We did not fall into the 80%-20% equity-value ratio. But they were willing to renagotiate the loan with us. Basically it was to be a 5.5% with a $600 a month PMI added on. WTF!!!! Now I'm pissed. So I hire($400) my own BofA licensed appraiser to come out and do his thing.He spends over an hour measuring and drawing the house and yard. He came up with $60,000 more than the first jackass. In the contract it clearly says I have the right to hire my own appraiser, the bank got a little pissy about it and I spent Thursday and Friday trying to fax and email them the new appraisel. Well June 1st has come and gone without a word from them. Sure makes me feel real warm and fuzzy inside about bailing these A--holes out. Should've let them sink.
I honestly feel that they feel that they are already making x amount of $ off me, why make less. I can not put into words how utterly pissed off I am. I/we as tax payers got royaly f***ed on this bail out crap and are continuing to get f***ed everytime we try to better ourselves. I am a hard working, responsible, live beneath my meens, productive member of society and still I have to strugle to get ahead.
Anyone else having these issues with their bank? I'm thinking about putting a letter together and taking it as far as I can. I'll be sure to have my wife write it, my spelling and grammer suck;)
 

·
steelcomp was here
Joined
·
26,526 Posts
Yeah, it's pretty rough these days.
How's that Z06?
 

·
Bass Lake Dream'n
Joined
·
3,082 Posts
Discussion Starter #3
I plan on driving it as much as i can till next January. That's when the resistration is due. Would rather put it on jackstands than pay the new registration fees. Probably be close to $1,000. Not that I can't, just don't want to. Once again, their sticken it to us.
 

·
Registered
Joined
·
686 Posts
I think you are correct on their lack of motivation.

You have every right to be pissed.
 

·
"On the road again..."
Joined
·
9,356 Posts
I'd find a lender willing to work with me and redo my deal, pull all my money out of BofA, and send them a nice letter explaining why you are gone. I doubt if they actually care from their attitude so far but there's a small chance someone with a brain will get the letter and the message it sends.
 

·
Registered
Joined
·
5,217 Posts
I wouldn't let B of A handle one red cent of mine. Go find a bank that hasn't made a reputation of screwing thier customers.
 

·
steelcomp was here
Joined
·
26,526 Posts
I plan on driving it as much as i can till next January. That's when the resistration is due. Would rather put it on jackstands than pay the new registration fees. Probably be close to $1,000. Not that I can't, just don't want to. Once again, their sticken it to us.
I can't believe where this state is heaidng. You'll still have to pay, even non-op is going to cost $$. It plain sucks.
 

·
steelcomp was here
Joined
·
26,526 Posts
I wouldn't let B of A handle one red cent of mine. Go find a bank that hasn't made a reputation of screwing thier customers.
I agree. Wasn't it BofA a few years back who was offering loans to illegals with no soc. sec. number? WTF was that!
 

·
Registered
Joined
·
5,217 Posts
I agree. Wasn't it BofA a few years back who was offering loans to illegals with no soc. sec. number? WTF was that!
Not only that but credit cards. They also got busted by 60 Minutes. They were running all transactions each night before deposits so they could generate millions each night in bounce fee's.:)sphss

When I first met my wife she banked with B of A and it took us 3 trys to close her account. We closed it, took out all the money and a month later they sent a bill for a service charge. So we called them to straighten it out and a month later got another bill for a service charge for an account that had 0 money. So we had to call them again. F$^kin idiots couldn't even close an account properly.
 

·
Bass Lake Dream'n
Joined
·
3,082 Posts
Discussion Starter #10
What bank do you all like? No word from them today, looks like tomorrow I'll go have a talk with the branch mgr just before i close all my accounts and refi with someone else. Even it it costs me more $, I'm not giving them another penny.
 
1 - 10 of 10 Posts
Top