Bank of America
Reviews and Complaints

Bank of America is ruining my credit! I've been lucky enough to keep my job through out this recession. I make six figures and have always been financially responsible. I've been unlucky enough that Bank of America has aquired two of my credit card accounts. I already had two lines of Credit with BOA. I've NEVER been late with a payment and actually pay more each month than what is due. They have continued to drop my credit so that it appears that I am right at my limits. For example: I had an MBNA credit card with an $18, 000 limit. I made a $5, 000 payment and they lowered my limit to 13, 000. I just made a $2500 payment and they lowered my limit the additional $2500. I just needed to buy a car and because it looks like I'm at my limit on all of my BOA accounts- I had to get a higher interest rate! I just paid off one of my BOA lines of credit ($9, 950) and the closed the account. They are taking good people thatt are working very hard to make their obligations and screwing them. My credit has dropped from good to fair thanks to BOA! There has got to be someone we can talk to about this. Does anyone have any suggestions?

My second complaint about Bank of America. I am at the underwriter with my loan modification. I have been told by every agency and lawyer that I am a great candidate for a loan modification. I was told the entire time by B of A that while I am in an loan modification that if I go into foreclosure that a sale date would be postponed. While doing the modification which started in Feb 2010, and they have been dragging their feet. Well in September they put me in foreclosure and would not take my payments and then in late November set a sale date. I have called many times and they won't postpone it till 2 weeks before the sale date and there is not quarantee if they will postpone it at all. The newest information is I will probably not get the modification due to there being too much equity in the house. You supposely can't have more than 20% inquity in your home Why was that not told to me in February when this all started. I could have applied for a Harp (gov refinance) program while my credit was not that bad. Now my only choice is to file for bankruptcy so I don't lose my home. When this all started I was only 2 weeks behind in my payments and should have waited till I got an extra paycheck then to agree to their forebearance and loan modification. Not only to they call daily with collection calls, most of the time when I talk to them they are rude and hang up on you. I talk to lawyers and they are willing to help me and want my business till they find out how much equity is in the house.

Corrupt Mortgage Loan Practices! Very subjective to borrowers with excellent credit. The processing department out of Arizona is by far the most corrupt group of individuals. Specifically the manager of processing Ron Gillett. Stay with your documents. Stay on top of the process. Hold their feet to the fire. Know your rights. Know the law. This will be a class if you apply for a loan through BOA and if you pass it, you get to close on a loan an actually move into your home. If not, like many you will have to take the class again with another lender if it is not too late. Poor customer service. They do an excellent job of reeling you in with the Pre-approval and are very courteous. It is the processing and underwriting that will be a CHALLENGE. Hope you get at least a B and pass the class with BOA.

Dear Officers of the Federal Trade Commission and Officers of the Office of the Comptroller for the Currency;
Fair reporting is defined on the FTC website and is echoed on each of the credit reporting agencies’ web sites. The rules are not equal for the consumer and the agencies. When I provided proof of my claims, the Equifax agency informed me they called and spoke with the reporting company and found the posting to be correct. How? I asked them to provide data backing up the claim on the report after calling the company myself as informed to do so by the Equifax employees. I was then informed that these companies do not have to provide proof, since they confirmed the accuracy of the report by phone. I check my credit reports annually and last year the data was accurate with a small error that would not affect me in any way. This year I find my report looks like someone else’s, the companies taking over previous reporting companies were able to change the report the way they wanted to report the data. My report was allowed to be changed to reflect what the creditors wanted to show and this was permitted. This does not follow the FTC guidelines of reporting rules and the data should be deleted as inaccurate. The looming question of why we are not progressing out of this recession is answered by this very document. I am not the only person affected by this improper activity.
The taxpayers, through the government, help bail out companies only to find that we the people are now at the mercy of each of these companies. I am being threatened, intimidated, and have had my entire credit report changed. We all must be told of what these companies are being allowed to do and why we cannot get the help or loans when we apply for them. Double standards in applying the rules should also not be allowed and silence by our governmental offices cannot be allowed. The governmental leaders in my state of Florida all tell me they want to help and can see my point, but the companies are outside his or her jurisdiction. Each representative did inform me of my records being forwarded to the respective governmental department believed to be proper. I sadly discovered this to be one of the only truthful statements made by the banks involved.
Now I am told I can only dispute in writing to Equifax, with no more than 100 words, while the companies posting are allowed to exceed this rule. The employees also threatened me with filing a “frivolous” claim and sternly told me to call each company myself. I did call each company and found that some did not know what I was talking about since they had no record of me. The financial institutions informed me that they could change the postings since they took over the previous reporting companies and I could do nothing to change this. Each company displayed no compassion or even gave me any indication they would go further in even reviewing my claim.
Now I did read that we the people could seek legal steps to fix the errors if all other measures failed (FTC Web Site). The problem is that even my political leaders are unable to assist me and have to refer me to the FTC. The reporting agencies and the creditors are all telling me that no one in government has legal jurisdiction over them. This presents the question of how can I get help when the FTC employees tell me to contact the Office of the Comptroller for the Currency. WHAT? Not even the bank employees all knew what the office was or how this office even has the ability to intervene in the bank matters. I am attaching my last letter to amicably fix this serious fault in the creditor’s or the credit agency’s policy. If further proof of my claim is needed, please ask me since I have records dating back to 1984. I am asking for help in resolving this problem or help me understand how I seek legal representation. My next step is to post this online for all to see so we the people, can all fix the unfair and highly questionable actions by the very companies helped with bail out money.
Sincerely,
Billy Wayne Childress, Jr.

The third day I spoke directly with a supervisor, who like the woman on day one, was well within the guidelines of the FTC. He assured me he would review the previous days records and find out who I spoke with and insure she would not be so incorrect and insensitive to people with “health obstacles.” I asked how to get a letter on my file to prove my claims; he told me the letter must be less than 100 words. He never told me how to fax or how I could challenge the incorrect claims within my records, or even have a rebuttal to what is posted. I want to know all these questions since the economy is so bad that simply sending erroneous information to the credit bureaus could prevent anyone from getting any type of loan. If these companies are operating outside the U.S., then compliance with FTC guidelines could take a huge amount of time to investigate or enforce.
Now, let me PROVE that data from some of these companies are wrong and that they cannot possibly have any data to back up their claims posted on my credit report. First, my home mortgage with Countrywide disappeared after 2009 to 2010; when Bank of America (BOA) bought out Countrywide. The data posted below is inaccurate and copies of my 2008 payments to Countrywide reveal that I did not have two mortgages or BOA was in fact involved with me at any time up to the present. This challenge for BOA is to prove they had my mortgage in 1993, and Countrywide who posted a good payment history with autopay from my bank is not listed after 2008. The Countrywide loan information dated “04/20/2009, Account Number: [protected] is attached and contradicts BOA claim of having my home loan since 1993, or 1994. PLEASE note that I WAS NEVER late with a payment. If anyone would like my copies of the amortization schedules including the original with inclusive dates start to finish, please let me know and I will provide them with bank statements to be posted in my file. Now, look at the following incorrect data from the Equifax database:

I have been receiving harassing phone calls daily - up to 5 times a day from a debt collector hired by Bank of America. They are collecting home loans that were issued by Countrywide Loans - who was bought by Bank of America. They are looking for the previous owner of the house I currently live in. I have explained to every person I spoke with that Eddie Arizaga does not live at this address anymore. They tell me they will update their records and then 2 days later, the phone calls start coming in again. My 82 year old mother lives with us. She is in poor health. When they start calling, she gets extremely upset because she can't understand why they keep calling and why they refuse to believe that Eddie Arizaga no longer resides at this address. I screamed at these people on the phone last night. They are wasting their time calling my house because this person does not live here. What can I do to stop these harassing phone calls? Thank you.

I tried to access my online account today, Nov.27, 2010 with Bank of America using my online ID and Password and Bank of America informed me that my password was invalid. This is impossible. I've always used this password. What they've done is stolen close to $14, 000.00 of my money as well as my social security direct deposit. It seems that I will have to spend money to go to the USA, Dallas, Texas to reslove this Problem. The Bank of America is a legal ripoff of our money and no one can help!
Charles Moore32

Bank refused to cash a $140 check, because I did not have a checking account with them. This despite the fact that the check writer had an account with them, and they have been cashing these checks for years in the past. This time, the branch in Mooresville insisted I open a personal checking account with them, even though we already have a 750k mortgage with them and I was able to provide ID, etc. They say there is "no way" they are allowed to cash a check for me, even though it's been done routinely in the past. To add insult to injury, I live blocks from the bank and have been paying my mortgage on time for years without there ever being an issue. No common sense, strong arm tactics to entice you to get an account will not work. Never trust these people. They are crooks.

I noticed an "Online Banking Fee" of 9.95 on my monthly statement. In May of 2008, I personally went to my bank branch and spoke to a teller. She said she would have it removed immediately and cancel whatever service it was - she didn't know what it might be from the label. I supposedly had a free account, as I had direct deposit paychecks every month.
Unsurprisingly, nothing changed. Due to some life upheaval I did not notice that the fees were still occuring every month. Finally, I wrote a letter in 6/2010 explaning the problem. I asked for 2 years of refund, since no one had been able to tell me what the fee was for. No answer. Huh. Amazing. I tried calling in several times but could never get through to an actual person in under 10 minutes.
Finally I used getahuman.com to figure out a direct number on 11/12/2010. The "Online Banking Fee" was for access to my bank records by MS Money. The representative could tell I hadn't used this service since 2007. She cancelled the service but was unable to issue a refund. I was tranferred to "the checking line" which was actually just the main automated banking number. First I was hung up on (ever heard a digital soundtrack get stuck on one tone? Painful.). Then I was unable to reach a human again in under 10 minutes.
I was originally going to stay at BOA until I got a refund for this issue, thinking it would be painful to move my automated payments to a new bank. But in September I learned it was pretty freaking easy - BOA allowed my bank information to be compromised and I received a new (unwanted) debit card number. It was much easier to switch in the new number than I thought. I'm almost out of checks. It's time to go. Too bad, BOA. Another customer slips away. I'd rather deal with a bank with actual humans working at it and drive a little further for an ATM.

My wife has her Visa card for 23 years. Has never been late once in that time. She sent a payment to pay off her balance. The check was sent to the address provided by B of A. Ten days passed. No depost. Finally the check was returned with a letter saying they could not find the account number. It was clearly written on the check. Next we recieve calls from FIA Card Services. The CC collection company saying a payment was not made. The letter was read to them and the situation was explained. We told them a payment above the past due amount would be made the following day. A day later, FIA called again. 2 calls less than 24 hours, wanting payment. The agent I talked to couldn't make toast by himself none less help me. A "supervisor" got on the line, I told him of the payment. He stated unless the funds posted in three days he would continue the phone calls. I reminded him that according to the letter sent by B of A, I had twent days to make this payment. I had already checked, the paymet had posted to the account. Next day I called to complain about the harrassment. I was then told that the call was a misake and their computers update vey slow. This was just incompetence. The story continues. . We look over last months statement. I fraudulent charge was made. A call was placed to close that card and request a new one. We were assurred a card would arrive five days later. It didn't. Called on the sixth day. Three challenged service reps later, " the card was sent and handn't been delivered yet. It must be your fault". They would not provide a tracking number. After blowing a gasket, another call was made to CS. No record of a card being sent. Finally a call came in 9 business days later informing the card would be delivered. The question was asked, was a previous request made for a card? yes, however the system was down and never processed. Every call except for one, we were lied to by B of A and FIA. Being a Signature card holder means, you just get lied to my more supervisers than their cubical weasels. We'll see if a card is actually delivered.We have never been treated so poorly by any institution. AVOID B of A!

i was first given a quote that had nothing to do with reality, then the drivers that came to pick up my goods had a number of additional charges, that increased the quote of 1000.00 to 1500.00, then no one was honest about the procedures, it was my thought that my goods would be transferred when picked up and then stored close to the delivery point, but in fact my goods did not leave Florida until i gave them a delivery date, whiich means nothing because they have 14 days after a date to deliver, then the day prior to delivery i got no calls re: confirmation, (because the driver was busy) and on the day of delivery no calls or a delivery happened, the dispatcher is annoyed that i constantly call, but it will continue until my goods are in place

I have an Elite Rewards credit card from Bank of America. They recently announced that the point rewards system is being phased out such that the last day points can be earned is October 31, 2010. There will be a period of time (about a month later) where the points can be redeemed before the system is completely phased out. I called the service center today to redeem my points for a gift card as I have move than 4, 500 points, which is worth roughly $45 and would have easily allowed me to purchase a $25 gift card. The agent told me that last night, the company changed their website eliminating all items valued below $100, thus effectively resulting in the loss of value for all account holders whose point balance is below 12, 000 because some items take more than 10, 000 points to get a $100 gift card. If I had 22, 000, I would still lose $100 worth of value because there would only be 10, 000 points left after I redeemed for a $100 gift card. Had I received some kind of warning, I could have redeemed my points for a $25 gift card weeks and even months earlier. The agent and her supervisor both apologized as they too did not receive any warning of this system change. I find it appalling that a company like Bank of America could make a change that significantly impacts a lot of people without warning and in effect took away the value that people had in their system. It's like showing up one day, and the bank closed your account without warning because you had less than $100 in your account. I can see a potential class action law suit brewing...

for over one year I have tried to close an account of ç 5000$, have been told variously, " it will be delivered by FEDEX, no delivery, fedex could not find me ?, ( they have been here several times? )they destroyed the check
OK then do as I asked in the first instance, send it registered mail, as a cashiers check, ( they refused to transfer tio my french bank?, even though my bank accepted the operation, later a friend in WA checked at the bank in Lynden, and was told, check on its way by mail, months later still no check, ergo bank of america still holds my funds, a certain charles baker, claims to be in charge of the transfer, but now refuses to communicate, this after 2 registered letters, all suggestions appreciated thanks, SDC

The branch states that they offer Notary services. I have gone there twice to be told:
1. "On, we do have the service but they are not here now" (Manager quote)
2. Oh, we offer this service but you need to get a special form that we do not provide to you. (Female, Blond Caucasion receptionist at entrance on 10.25/4:30pm)

If you are going to offer a service, why do you make it so difficult to use it?

I eventually went to UPS and they had the appropriate form which THEY provided and my resolution was done in ten minutes.

I am filing a complaint against Countrywide Home Loans and Bank of America for unfair business practices, harrassment and fraud. In 2006 Countrywide's refusal to negotiate the loan and monthly payment of my home, refusal to answer my letters & calls for months and over a year. Talking to several people from their office ohn the phone with no sucess. They continuely raised the payment and the interest rate after they said they would not, they knowingly also impounded my taxes into my payment without my consent knowingly after all the calls I made saying I needed them to negoiate the loan. This was the main cause I could not keep my home. I had made two monthy payments out of fear of $4000 each well over $8000 and they continued to harrass me and not assist me with help. I tried to sell the property quickly, I got ill from it all, emotionally and physically with huge stress. This has made me lose my entire life investment and ruin my credit. Three years later, I am being harrassed still monthly by Bank of America who assumed the loan. I could not sell the property and my realitor advised me to move out so it could sell it. Scared I moved within two weeks of her telling me to do it, and I rented a small place. Countrywide accused me of ambandoning the property and proceeded with threatening letters of foreclosing on the property. They told me that I no longer qualified for the modification loan that was offerred by them which I had tried to get before moving and they denied me. Their explanation was I moved and wasn't residing on the property. Some of my belonging were still there. Bank of America assumed the loan. Bank of America has been harrassing me montly since with payment invoices for over $5000 per month plus interest even after my calls and notifications that the property is out of my possession for over two years. They have also contracted with a company that sends me a bill montly to insure the property "Reconstruct". I have called and told them also that I am not the responsible person any longer for this loan and I have never signed any agreements with Bank of America and it is now a surrendered property through the Federal Courts. I want to file a complaint against both companies Countrywide and Bank of America for harrassment and breaking the laws under the Federal Rules of Court which protects consumers against these type of practices. I want to seek damages for the entire amount of what my house sold at auction for on September 27, 2010 which was put up for auction last month in the amount of $725, 000 plus interest. I want at least one million in damages which includes the emotional stress against my family, my health the loss of income, my life savings and investiment and the time that I spent on the phone talking to the Countrywide and Bank of America employees which were different everytime. I ahve documentation of all the letters and people's name who I talked to and made sure that I document their name so that when I set up a telephone conference I was prepared to finish the conversation. Countrywide made dates to talk to me but broke every single one of them. This is not right! This is why Americans have lost their homes and life savings while the mortgage companies continue to eat up the properties. The interest alone that they have raped us for, all of us would pay for the property that we have lost outright.

Our mortgage was originally with Countrywide Mortgage, whom apparently sold it to Bank of America home mortgages. We have had to refinance our home, at the direction of a shady attorney and his alliances, to finance a very costly legal battle of our Marine son back in 2006-7, who was charged with murder in Iraq. Since that time, if we are even one day past the due date of our mortgage, we start receiving harassing phone calls. And, not only to our home phone, but to our cell phones as well, which in turn is running up those bills as well. And, we are not talking about a single courtesy call, but up to 15 times per day to any one line. After a while, we just stopped answering, and they leave no messages on the answering machine. And, should you decide to answer, you are told by recording to hold on to be connected to a live person, which sometimes really happens, other times not. And, these calls DO NOT come just between the business hours of 8-5 M-F. They come at all hours of the day as early as 6 am and as late as 10 pm, and on Saturdays and Sundays as well. Oftentimes, the calls come one right after the other, within a minute of one another. Then continue on throughout the day.

Understand that we are usually just at the most, a week behind the payment due date. With not even two payments yet due. But, if you call and talk to them, they always want to collect the second payment, or no payment, as well.

Furthermore, to complicate the problems, anyone you do get an exact amount due from, will 100% of the time, not agree with either their computer records of what is due, or a second person in a similar home loan counselor capacity. THEN, we receive oodles of follow up correspondence/new payment coupons with NEW amounts that don't even come close to any dollar amounts transacted. And, why would any future payment amounts be altered.

Is anyone else out there having similar problems? We are located in Central California.

Many thanks for taking the time to read this,

I had Allstate homeowners insurance on my home on which BOA holds the mortgage. I was on vacation for 4 weeks during April/May 2010. When I returned home I had a letter waiting for me from Allstate stating my homeowners insurance had been cancled due to returned mail to them. This led to Allstate thinking no one was living in my home, or so they would have me believe. I subsqently faxed them utility bills that clearly showed that I was indeed living at the residence.

I received no further correspondence from Allstate, and I assumed the matter was settled until my insurance payment checks started being returned to me, stating my insurance was canceled. I was not able to figure out what was happening until late July 7, 2010. Allstate refused to reinstate my insurance as more than 30 days had passed since the initial problem. I then obtained homeowners insurance from USAA, my husbands bank.

I then looked at my on-line banking which provides mortgate information as well, but had never felt the need to use this function. I showed that Bank of America had charged me $2776.00 for morgage insurance.

I went in person to my local Bank of America branch about 3 miles from my home, I spoke to Banking Center Manager a Mr. Hilton Snowden. I showed Mr Snowdon what had happened and he told me there was nothing to worry about and that I would not be charged.

I was so angry at Allstate, that I called them again to go through what led to this fiasco step by step. First they claimed they could not reach me, and learned they were using a cell phone number that was over 3 years old. This does not speak well of Allstate either.

I then learned from Ashley, my old representative at Allstate that they had been told by BOA to cancel my insurance that I was not living there, and BOA had returned mail from me. I find this particularly deceitful, as I have had no contact with BOA since going paperless in 2006, since starting on-line banking.

Now 3 months later I find BOA has increased my payment to pay for the insurance they told me had been canceled. They are calling it an escrow account, but it is actually the same amout of money that would be charged if payent was late, which it never is, as BOA receives automatic transfer payments from USAA, my husbands bank, on the first of every month. I deposit my pension check into USAA, and use other income at BOA for online banking as I have been with them since 1998.

Now I have two concerns, why am I being charged the equivalent of a late payment, identified online as escrow payment. I do not have an escrow account, as I put over $100, 000.00 down on the home when built in 2005.

I will be visiting Bank of America later today. if I do not receive anything in writing and to my satisfaction, I willl be closing my account after 12 years. If my concerns are not addressed and fixed immediately!

I only hope there others out there as outraged as I am, as it is my intent to file a class action lawsuit ASAP aganinst BOA.

I submitted a refinance loan application through the HARP program and submitted all the required documentation. Bank of America has drawn out the process for months, and I believe they have no intention of following through on the loan.

To: office of the comptroller of the currency (Occ) date: 10-11-10
Customer assistance group
1301 mckinny street, suite 3450
Huston, tx 77010
Fax no. [protected]

From: stephen j. Guidetti

Complaint against
Bank of america
622 fairview road
Simpsonville, south carolina 29681
Cc:
Frank bentley
Banking center manager
Tel: [protected]
Fax [protected]
Cust. Svc. [protected]
Frank. [protected]@bankofamerica.com

To the office of the comptroller of the currency,

I would like to report bank of america for refusing to allow me to enforce an instrument (Cash a check) drawn on their bank without giving them a right thumb print even after I submitted a state picture i. D. , a social security card and a birth certificate. Uniform commercial code & sect; 3-411 and & sect; 3-501 specifically states the reasons for refusal to pay/enforce an instrument and not giving a right tumb print is not among these reasons. Bank of america is violating public policy.

The incident:
I went to the drive up window to enforce an instrument (Cash a check) drawn on the bank of america. I was told at the drive up window that; & ldquo;the drive up window was for bank of america customers only and that I would have to come inside the bank and be identified. & rdquo; I went into the bank with a state identification card, a social security card and a birth certificate and was told I would have to be & ldquo;right thumb printed, when I refused to be thumb printed frank bentley the bank center manager refused to allow me to enforce the instrument.

Question:
With three forms of identification did bank of america have reasonable doubt whether or not I was the person entitled to
Enforce the instrument. If I was given an instrument (Check) drawn on bank of america does that then make me bank of america customer; whether or not I have a bank of america account? Is there any doubt now whether or not I am the person entitled to enforce the instrument?

I believe that with the all the identification I had presented to the bank that there was no reasonable doubt that I was the person
Entitled to enforce the instrument and that is the extent of my responsibility. Banks can not set bank policy outside the law.

I have been damaged by bank of america with frank bentley; banking center managers refusal to pay an instrument that I was lawfully entitled to enforce, in that frank bentley banking center manager and agent of bank of america has dishonored my instrument.
Since bank of america is a federally regulated bank this may be a case for federal court.

Solution:
Tell bank of america and all other banks to stop requiring a right thumb print to enforce an instrument it is ignorant and unreasonable means of identification, we need to stop this now before the banks start requiring blood samples to enforce an instrument; I say no; we need to stop this now, no one else requires a right thumb print form of identification and it is not required by law, like when you pay by check or credit card any where else.

__________________________________________
Signed stephen john guidetti
Uniform commercial code
§ 3-411. Refusal to pay cashier's checks, teller's checks,
And certified checks.
(A) in this section, "obligated bank" means the acceptor of a certified check or the issuer of a cashier's check or teller's check bought from the issuer.
(B) if the obligated bank wrongfully (I) refuses to pay a cashier's check or certified check, (Ii) stops payment of a teller's check, or (Iii) refuses to pay a dishonored teller's check, the person asserting the right to enforce the check is entitled to compensation for expenses and loss of interest resulting from the nonpayment and may recover consequential damages if the obligated bank refuses to pay after receiving notice of particular circumstances giving rise to the damages.
(C) expenses or consequential damages under subsection (B) are not recoverable if the refusal of the obligated bank to pay occurs because (I) the bank suspends payments, (Ii) the obligated bank asserts a claim or defense of the bank that it has reasonable grounds to believe is available against the person entitled to enforce the instrument, (Iii) the obligated bank has a reasonable doubt whether the person demanding payment is the person entitled to enforce the instrument, or (Iv) payment is prohibited by law.

§ 3-501. Presentment.
(A) "presentment" means a demand made by or on behalf of a person entitled to enforce an instrument (I) to pay the instrument made to the drawee or a party obliged to pay the instrument or, in the case of a note or accepted draft payable at a bank, to the bank, or (Ii) to accept a draft made to the drawee.
(B) the following rules are subject to article 4, agreement of the parties, and clearing-house rules and the like:
(1) presentment may be made at the place of payment of the instrument and must be made at the place of payment if the instrument is payable at a bank in the united states; may be made by any commercially reasonable means, including an oral, written, or electronic communication; is effective when the demand for payment or acceptance is received by the person to whom presentment is made; and is effective if made to any one of two or more makers, acceptors, drawees, or other payors.
(2) upon demand of the person to whom presentment is made, the person making presentment must (I) exhibit the instrument, (Ii) give reasonable identification and, if presentment is made on behalf of another person, reasonable evidence of authority to do so, and (Iii) sign a receipt on the instrument for any payment made or surrender the instrument if full payment is made.

Uniform commercial code
(3) without dishonoring the instrument, the party to whom presentment is made may (I) return the instrument for lack of a necessary indorsement, or (Ii) refuse payment or acceptance for failure of the presentment to comply with the terms of the instrument, an agreement of the parties, or other applicable law or rule.
(4) the party to whom presentment is made may treat presentment as occurring on the next business day after the day of presentment if the party to whom presentment is made has established a cut-off hour not earlier than 2 p. M. For the receipt and processing of instruments presented for payment or acceptance and presentment is made after the cut-off hour.
Federal law
Title 31: money and finance: treasury
Part 500—foreign assets control regulations
Subpart c—general definitions
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§ 500.314 banking institution.
The term banking institution shall include any person engaged primarily or incidentally in the business of banking, of granting or transferring credits, or of purchasing or selling foreign exchange or procuring purchasers and sellers thereof, as principal or agent, or any person holding credits for others as a direct or incidental part of his business, or any broker; and, each principal, agent, home office, branch or correspondent of any person so engaged shall be regarded as a separate & ldquo;banking institution. & rdquo;

Bank of America and Fannie Mae are crooks along with the real estate brokers who are working with them on buying foreclosures. I was told by Bank of America on a conference call 08/05/2010 that they would postpone a foreclosure auction on my home scheduled for 08/11/2010 until they reviewed my new paperwork I submitted after finally getting a job, after being laid off and out of work for a year and half. The entire time I was laid off I paid half my mortgage each month, which was over half my un-employment compensation trying to keep my house. I was encouraged by BoA to continue paying at least half my mortgage payment each month as a sign that I was trying to keep my home. I constantly asked them to reduce my monthly payment $300.00 and then I would be able to make the $800.00 monthly payment one way or another. Every time they would review my paperwork they would stall, lie and never commit to any answer one way or another. So, after being told on 08/05/2010 that they would postpone sale of my house for 30 days as the paperwork was reviewed by the underwriters. Between 08/05/2010 and 08/11/2010 I was never contacted by phone, certified mail or any other way that they were going to sell the property on 08/11/2010 after stating that they were postponing the sale. The first notice I received was from the buyer's lawyer telling me I had 5 days to vacate the house on 09/03/2010 because it had been bought on auction. On 09/03/2010 I contacted BoA and ask them what was going on them what was going on? And they told me my paper work did not get to the under writers until 08/15/2010 and it was already stamped as sold. BoA told me that Fannie Mae came in and said that they were denying the postponement and to sell property. So after spending the rest of September trying to track down answers through the maze of phone numbers given by BoA, I was finally able to talk to someone from Fannie Mae on 09/24/2010 who then told me it was BoA that declined postponement and sold the property and gave me the number of the party that would offer the "Keys for Cash, relocation assistance program." They informed me that they would give $1800.00 dollars if I was able to be out of my house by 09/27/2010.I told them that it was not enough to cover the first month rent and a deposit to find another place to live. I am now going to court now to fight an eviction from my own home. My next step before court is go to the local news station that is doing a story about how BoA and Fannie Mae are taking taxpayer dollars and not doing any loan modifications and are just using the program to steal property which they are now selling to selected brokers at a low investment price while getting the government to supplement any costs they incur at the expense of the struggling home owner.

I don't even know where to start! I feel like I have been fighting a losing battle for over a year now. I applied for a home loan modification last July, 2009 when my husband lost his job. We were approved and were sent the final paperwork, signed and returned it via Fed ex. We made payments at our normal rate and upon receiving our interest statement for 2009 for income tax return, I noticed that it showed we had only made two payments the entire year. I called for months spending around 64 hrs. in total on the phone with bank of america trying to get them to get my information correct...no luck. Finally I saw that they were putting my payments in a partial payment balance and not applying them towards my loan. Several customer service employees tried and even told me that they had transferred the funds over but it still did not all get moved over to the correct account. Months later I finally got the right person and that problem seemed to be fixed. Then I received a letter of foreclosure that was a credit amount of $752, yes, that's right, a letter saying they were going to foreclose on my home if they didn't pay me! Unbelievable! Finally, I talked to what seemed to be a knowledible person at BAC and they noticed that my loan modification had never been closed out properly and that I should re-apply for it again so that it would be fixed once and for all. I did and it has been over three months now, I have called almost every day, received a sale date for my home to be auctioned off and I have even filed for a post-ponement of sale and followed all the rules but still have no answer. In a matter of a couple of days my home will be taken away and I can't get a straight answer from anyone at BAC. They actually keep telling me to check back with them in 72 hrs ...I have run out of time and am forced to file for bankruptcy now in order to stop the sell. I guess they were going to call me after they sell my home to let me know if we received our loan modification or not!
This treatment is cruel and unusual and something must be done to regulate these big companies that have our lives in their hands. The system is broken and needs a major overhaul. I have never been this stressed out before in my life and have had to battle all of this while going through surgery, a week's hospital stay and a terrible diagnosis. Instead of concentrating on my health I am spending my time listening to uneducated and misinformed employees of Bank of America Home Loans.