Bank of America review: late fee rip-off! 47

As a first time homeowner, back in 2007 when I took out a loan with Country Wide, I had a credit score of 705 and had had a down payment of 43, 000 ...a 20% down payment, because of the down fall of mortgages starting to rise, CountryWide stated that I would only qualify for a fixed rate of 8% interest rate, I could not refinance due to high penalties and had to wait a year.
NOw, my credit has suffered and unable to refinance due to poor credit...SCAMMED!

My wife and I have been battling CountryWide (which is now Bank of America) for several months. We started a few weeks ago contacting everyone we could in Washington D.C. We were pleasantly surprised that almost all of the government agencies we spoke with seemed to be pretty flabergasted and fed up with CountryWide's behavior. Everyone that posts a complaint here also needs to go to the website of the Comptroller of the Currency. They are the Government agency that regulates CountryWide . Their website is WWW.helpwithmybank.gov. If enough of us file complaints there, they will have to act.

I have never dealt with a company before such as Countrywide. Not only have I found that they are lying scoundrels and will tell you anything to get money, but they are totally UN-AMERICAN. When you attempt to talk to someone in customer service, you get someone that can hardly speak english. I initially thought it was someone working here in the US at first but later found that I was talking to someone in INDIA.. SO UN-AMERICAN.

I had a great credit score, 829 before I started dealing with countrywide, my initial loan was sold to them. Hurricane Katrina caused all insurance premiums to increase. My insurance premium increased from 2, 000.- to 6, 000.- . I had initially allowed countrywide to draft my checking account for the principal and interest of $653.96 plus insurance and taxes escrow bringing the total to $842.00. Due to the insurance premium increase, my payment now has jumped from the $842.00 a month to $ 1, 372.58 a month. Countrywide starting drafting the account without a notice to me at all. When inquiring about the increase, I was informed to the situation after spending over 3.5 hours on the phone with countrywide. Since I was deliquent according to Countyrwide in the amount of $2, 762.92 which represents 2 payments, I agreed to pay the sum of $2, 000.00 on July 31, 2008 with a payment the middle of August 2008 of $762.92. Now I am getting a call from Countrywide India saying that I owe them $2, 771.44. COUNTRYWIDE really sucks. They took the $2, 000.00 payment i made and put in in escrow. Not what we agreed on. Something really needs to be done about them. They are nothing but liars and cheats.

Totally agree! Our SitUATION IS totally horrible! This is just a terrible situation.
I hope things workout for you...please wish me good luck too! tHIS IS A NIGHTMARE!

I agree with everyone on this comment board and I am so sorry to hear about all the trouble that you are all having. This is the reason I started my company. I have helped several people that have mortgages with ASC, Countrywide, and other mortgage companies that don't seem to care if they harass people or suck them dry. The comments I have heard are along the lines of trying to get blood from a stone or turnip, or something like that.

Contrary to what some people have said on here, I am not trying to be one of those people I mentioned above. My company is a nationwide company that provides services for people that are at the end of their rope. One of the helpful things that we provide is letting you know, before payment for service, if we can assist you and if we can not. If we can not, we tell you why not and what can be done to allow our company to assist you. Most companies won't do that, but we will also give you the reasons why exactly so that, if you should choose a different service, they will not be able to scam you. Now that's a way of saving money too.

I have a service that actually will take you out of the loop of contact with ASC, or Countrywide or whomever you have servicing your loan. All you have to do is tell me how we can help you. By that I mean, tell us what you are looking for us to do for you and we will pursue the help that you want, no matter what. We have all aspects of the mortgage business covered from being a mortgage mediation company, a title company, a real estate company, all the way to having access to attorneys for litigation or help to avoid foreclosure. No aspect of help is turned away.

Let me tell you, most of the customers that I deal with have told me about the fear and the frustration of working with mortgage companies that don't seem to care or give them the runaround. To be totally fair, mortgage companies have their ways of dealing with people. Some are good, some are horrible. But one thing all mortgage companies love is being vague. When they are vague, they don't have to give you information until you ASK for it. How does that help you? How can you try to save your home if you don't know how to ask the right questions?

That’s another reason why I created this company. I take your number out of their "system". When they mail you something, it goes to me. I take the burden away from you so you can live your life without the phone calls and the letters. And the rudeness! Oh, man, if I told you some of the stories I have heard...let's just say, it’s not pretty.

I know that some people are going to look at this comment and go, this guy is trying to drum up business. Well, you're right. But here's the kicker. I used to work in mortgage collections. I used to make the phone calls and send the letters. I used to work around the people that make your lives hell. And I kept asking myself, why? Why are these people not being told about the help that’s readily available? Why are these people not being helped to make payment arrangements that are realistic? Why does this company care more about the money than about customer service when that is supposed to be their primary objective?

That's why I got out. I can not stand collections. Just because they are hiding behind a company name they think that they can say anything or act anyway they like with the customers, being friendly with one and the next 40-50 they can treat like crap. Where is the customer service?

I take all that frustration away from you and create solutions that work. I know that it may be hard to swallow, but I do. I have done it for several people. And I can do it for you too. If you want more specifics or just want to talk to me, call my office at [protected] and check out the website, which is being updated with a few new options available. And this isn't just for people facing foreclosure, people that are current and want to pay off their home early, call me. I can and will help as many people as I am able to. What have you got to lose? Website address is http://RealtyMediationService.onlybusiness.com
and if not for you, best of luck. In all your endeavors.

I really reagreat to have done business with countrywide. They say many things but they don't do anything.

In preparation for the birth of our daughter in June 2008, my wife contacted Countrywide in Feb of that last year. They told her that they could put us in a Hardship/Forebearance program that would delay our mortgage payments for 4 mos. while she was on Maternity leave. This sounded great as we are a dual income family and without one income it would be hard to make payments. The rep told us that after she went back to work we would negotiate how to catch up. Whether that be adding the amount to the end of our loan or making larger payments. We jumped at the chance for this. When my wife went back to work in Sept. the top item on our list of priorities was to get our mortgage taken care of. We called Countrywide and they told us that a negotiater would be in contact with us. About a month later we called again with the same answer. This is the same thing we have done for the past several months with the same answer every time. They said not to make any payments that it would go to the principal and not to the past due balance. The last contact before now was in January. We were told that they were so busy with the Mortgage Crisis that we would be dealt with soon. On March 17, 2009 my wife was in a Head-On car accident. Luckily by the hand of God, my wife was not hurt. The accident was not her fault, but the car was totalled . My wife called the bank to see about getting a loan and because of this mortgage thing our credit is ruined. At this time she decided to got to a Countrywide branch and sit until she got it taken care of. When she went of course nobody at the office could do anything but her on the phone. The rep informed my wife that our home is in foreclosure, and would be sold May 5, 2009. We were devistated of course. We have the money in savings to pay the arrearages. We just have been told not to pay. Over the past few days we have spoken to an attourney, and contacted several different people at Countrywide with no help. I told them 'I want to pay my mortgage. I don't want to file for Bankruptcy.' I asked for them to tell me who, where, and what to pay. They can't give me any info. They claim we were offered modification. Which we never received. They claim that we were sent notices of foreclosure which we never received. I read that it is the law to send certified mail(signature required)before foreclosure can start. When I mentioned this to the Countrywide rep she agreed then when I told her that we never received it, she changed her story saying that we must have gotten it. I explained to her that this alone was grounds for litigation. She told me to do what I needed. Suprisingly when we got home today there were four diferent letters stating foreclosure. When we called they said our file is still in foreclosure for May 5, but we were being considered for modification. We asked when we would know if we qualified the rep said to call back in 30 days. That is 9 days before our house is to be sold. This is Ridiculous! I just want to pay my mortgage! I can afford my mortgage! We both have Jobs! Why can we not get this resolved! Anyone that can Help please contact me. I am desperate. We don't want to lose our home, we dont want to file ch 13 and ruin our credit for years over a mistake by a Scandalous company.