• Report: #1012034

Complaint Review: BANK OF AMERICA

  • Submitted: Sun, February 10, 2013
  • Updated: Sun, February 10, 2013

  • Reported By: Caridad — Orlando Florida United States of America
BANK OF AMERICA
5401 N. Beach Street, TX@-977-0134 Fort Worth, Texas United States of America

BANK OF AMERICA JENNIFER ABBOTT Home was overappraised, and BOA knew the market was going to collapse. I put 50% down in 2007, and by 2008 the home was worth down payment Fort Worth, Texas

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We put 50% of the value of the home as down payment in August 2007, and paid an additional 25% in interest only mortgage in 18 months.  The house was worth less than the down payment by 2009, and Bank of America refused to modify the loan.  It has been four years, and new set of documents every two months.

I finally complained to my elected officials, and on February 1st 2013 the bank made me an offer after four years.  It added $40,000.00 to my principal, and increased my monthly payment by $250 to $1,023.00.  The bank ignored the guidelines to charge me 31% of my income, and knows my income.  It is the same one I had when I purchased the home with my mother, and she died a year later.

BOA does not care about my hardships, and will not lower my payments after collecting the value of the home as down payment.  I have complained to so many agencies, and officials.  I cannot get anybody to make the bank follow the rules, and I have been going around in circle.  Bank of America wants to keep my money, and take the home back.

Our entire savings is invested in the home, and I do not have ten dollars to my name.  I want the bank to do the right thing, and follow the guidelines.

This report was posted on Ripoff Report on 02/10/2013 11:28 PM and is a permanent record located here: http://www.ripoffreport.com/r/BANK-OF-AMERICA/Fort-Worth-Texas-76137/BANK-OF-AMERICA-JENNIFER-ABBOTT-Home-was-overappraised-and-BOA-knew-the-market-was-goin-1012034. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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