Bank of America B of A Misrepresented cost of refi loan under HAMP Dallas, Texas

In August of 2012 I received a call from a local Bank of America branch office offering us a lower interest rate under the HAMP program. We had a perfect payment record, was underwater on our house and had tried on other another occasion to get a modification from B of A with no success. The representative from the previous efforts and after we went to Cal Expo to the event that was put on, said it would take a divorce, death or disability to be considered for a modification by B of A. After me submitting, resubmitting and going up the chain of command at B of A nothing ever resulted from my efforts.

However, this one call made by B of A changed that and I was told it would cost me about $500 in total at the most to refinance from my 6% interest to a 4.125% interest rate. I am a notary signing agent so am aware of what is added to a loan cost so I wanted some straight answers. One was why did the cost of the loan keep going up and why were they financing not only the payoff of the existing loan, but they were digging into my principle by at least (277,636)$3363 after all was completed and the Notary was here. We not only did not get money back from this loan refi, (as shown in the Good Faith estimate) but we had to pay $649 via a check to B of A at signing (I had a two hour notice about this) and was told without it the loan would not clear. 

I asked why the APR did not represent the true interest rate as it was supposed to include the cost of loan not just the interest rate that was promised. I was told it was for the impound account, or escrow account for taxes and insurance was what I was paying extra for. We had an impound account through our existing loan and there were not changes to the insurance or taxes. So I asked why did they need to take so much out of my principle and also add another $649 to the pot? No answer was given that was credible, just the same one over and over again. I received my first statement with payment information and loan amount.

So much was not disclosed to us prior to the loan docs being drawn up, we went way over the $500 cost of the loan, which included the $35 credit report. I find this appalling as all be it the month payment was decreased by $445 but the cost was grossly misrepresented. B of A once again made money off of me and I am furious so much misrepresentation took place. Again, I am a Notary Signing Agent and told them this upfront. I guess they are doing this so much that not even that swayed them from once again sticking it to the customer.