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Home > Anyone Else Have Trouble With BOA?

Anyone Else Have Trouble With BOA?

March 2nd, 2013 at 02:22 pm

Hi, everybody. My dh and I bought a house in 2010. Our mortgage was sold to BOA before the ink was even dry on the documents. We knew it was possible that it could be sold to another bank, but did not know it could happen right away and did not know how to opt out by not signing a certain document. Anyway, with all the bad stuff going on at BOA with them foreclosing on properties that should not be foreclosed on, we have been extra careful with making payments in person, getting a receipt with a time/date stamp on it, and keeping all paperwork organized. We don't want to be out of town one day and come home to our stuff on the front lawn and pets missing. Fast forward to a couple of weeks ago when we found out that the local BOA branch is becoming Arvest, but our mortgage is staying BOA. The closest other branch that is not going to become a BOA branch any time soon that we know of is over an hour away. We intentionally don't do automatic payment or any electronic payments with them. We don't trust them and want to deal with real people, in person, about our mortgage. Credit cards don't really matter from my point of view, but if someone doesn't do their job and records a payment wrong, you could lose your house due to no fault of your own. Our only choice, other than driving over an hour every month to the nearest branch, is to mail in payments. I feel really unsure about this, any way you look at it. We could look into refinancing with one of two credit unions, but do not have the money for closing costs, inspections, etc. Does mailing in payments to BOA work well? Do you have problems with BOA mortgage services?

11 Responses to “Anyone Else Have Trouble With BOA?”

  1. creditcardfree Says:

    Our last mortgage was with BOA. We always paid on auto draft from our bank account. Never any issues. We also didn't have any issues when the loan was paid off when we sold it. I think if you mail check, you want to make sure it shows up every month. You could also open a seperate bank account just for making payments to BOA. Just transfer the payment in there every month. Good luck!

  2. crazyliblady Says:

    What do you mean about the check "showing up"? I don't do electronic anything with BOA and refuse to.

  3. creditcardfree Says:

    I mean looking at your BOA statement online to see that the payment has been received. If you look online, you will see transactions and problems much sooner than waiting for a paper statement.

    You might need to look into getting a different mortgage company...might save you, but might cost you too. You would have to run the numbers.

  4. JulieA Says:

    I actually prefer electronic payments because with those you have a record of the exact day that the Bank received the funds in comparison with mailing a check .... which unless you send some sort of postal tracking you have no way of proving when they received the money.

  5. MonkeyMama Says:

    I think overall what you need to do is just keep meticulous records. Make sure with every statement that the principal and interest was applied correctly; all payments recieved. Keep these statements *forever.*

    I would also pay online rather than mail a check. (Not because of B of A, but because mail is rife with so many problems).

    I do not use B of A specifically, but what I do like about online banking is seeing immediately when payments hit. Which I suppose is the next best thing to going in person and getting an immediate receipt.

  6. North Texas Mommy Says:

    I have BOA and I do online bill pay and have had no problems. One thing that was really strange that happened the other day was a man came to my door and handed me a door tag that said call your mortgage company...no letter head only thier phone number. The only thing I could figure I was a couple of days later than usually paying. Wierd.

  7. Looking Forward Says:

    We have BoA servicing our mortgage and I usually mail a check. It clears about three days after I send it. I agree with MMama and just double check everything was properly applied. All the statements are available to view online if you accidently misplace one.

  8. creditcardfree Says:

    You would have to miss a slew of payments before they would have your pets out on your lawn. Foreclosures don't happen overnight. I witnessed neighbors being evicted from their home. The sheriff showed up and they had plenty of time to get their things out under supervision.

  9. Wink Says:

    BOA holds my mortgage, which I pay on-line every month. I print out the statement each month to keep a paper copy for my records. I know many people have had problems with BOA, but my own experience with them has been great.

  10. Carolina Girl Says:

    I have BOA and do use the online mortgage payment. You do get a confirmation number. We have never had an issue with our payment not posting. I know others have had issues with BOA but thankfully, our experience has been fine.

  11. librarylady Says:

    We have BOA for our mortgage as well and have not had any problems with them. We pay our mortgage electronically with an automatic draft every month on the first. I haven't heard of any problems with BOA.
    What kind of problems should I be looking for?

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