Complaint Review: Bank of America - Nationwide
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- Author Confirmed
- Bank of America www.bankofamerica.com Nationwide United States of America
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- Category: Banks
Bank of America artificially deflated the value of my home from over $ 200,000 to $ 40,000 within a year by creating a fantasy appraisal Nationwide
* : Stacey, Do you believe that 'Dan' is from OZ also? 'Google' this- YOUTUBE WALMART WANTS YOU DEAD: HOW WALMART SCREWS ITS EMPLOYEES, and watch that video!
* : Quote: "THE PRICES (VALUES) THAT YOU SEE POSTED FOR A SHARE OF STOCK FOR A PUBLICLY HELD COMPANY ARE ALL A LIE. IT'S AN ILLUSION." - Harvard Business Professor, 2004.
* : Go back to OZ Karl
* : Quote: "EVENTS DON'T CAUSE CORPORATIONS TO COLLAPSE, IT'S THE OPINIONS OF THE EVENTS THAT TRIGGER THE COLLAPSE." _ Harvard business Professor, 2004.
* : Another Solution Than Listening to Karl....
* : Quote: "I predict that by sometime early in 2009 that the stock market takes that huge hit! After a full year of reality in 2008, the big collapse happens." - 8/26/2007
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In 2008 I applied for a Home Equity Line of Credit from BoA. They appraised my property at over $ 200,000 (1/4 acre lot, 3 BR, 2.5 BA, $ 30,000 pool). I don't have a mortgage on my home, it is completely paid off.
BoA granted me a line of credit of $ 187,000 and the contract was for 10 years. After about 1 year BoA blocked my line of credit without any explanations. I had never been late with any payments and complained at the branch. they told me to send a letter to the corresponding department and they answered several months later. they sent out an appraiser who told me that the value of the property had deflated from over $ 200,000 to $ 40,000 within a year. At the same time my property taxes went up because the county appraiser found that the value of my home had increased. BoA informed me that now my line of credit was reopened and reduced to $ 38,000,-
I feel that appraisers in this country don't have any professional ethics and just produce the numbers that the one who pays them needs.
If BoA had offered me a line of credit of $ 38,000 a year ago I would not have signed the contract. What I understand that this practice is illegal and i hope that there is going to be a class action. i know that BoA did it with almost everybody in order to reduce their exposure to the risks of lending.
This report was posted on Ripoff Report on 08/29/2009 02:16 AM and is a permanent record located here: https://www.ripoffreport.com/reports/bank-of-america/nationwide/bank-of-america-artificially-deflated-the-value-of-my-home-from-over-200000-to-400-486933. 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content
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#6
Stacey, Do you believe that 'Dan' is from OZ also? 'Google' this- YOUTUBE WALMART WANTS YOU DEAD: HOW WALMART SCREWS ITS EMPLOYEES, and watch that video!
AUTHOR: Karl - (U.S.A.)
SUBMITTED: Wednesday, September 02, 2009
Isn't it interesting that Walmart was doing what Bank of America, JP Morgan Chase, Wells Fargo, Citigroup, Bear Stearns, Wachovia, & others were allegedly doing to their employees?
#5
Quote: "THE PRICES (VALUES) THAT YOU SEE POSTED FOR A SHARE OF STOCK FOR A PUBLICLY HELD COMPANY ARE ALL A LIE. IT'S AN ILLUSION." - Harvard Business Professor, 2004.
AUTHOR: Karl - (U.S.A.)
SUBMITTED: Wednesday, September 02, 2009
To read that quote, which was posted on August 21st 2007 right here at Ripoffreport.com, simply 'Google' this- RIP OFF REPORT FUEL FREEDOM INTERNATIONAL MPG CAPS, and go to the 2001 Toyota Tacoma Rip Off Report, and then to the 'Update' entitled- 'Blame it on a Lawyer'.
#4
Go back to OZ Karl
AUTHOR: Stacey - (U.S.A.)
SUBMITTED: Tuesday, September 01, 2009
Jim is right - hire an independent appraiser - I did it myself for insurance purposes - Also check your tax statements and see what they appraise your at - I will guarantee it is not a correct amount - An appraisal can help you lower your home taxes depending on your District Appraisal office rules and regulations
Good luck
#3
Quote: "EVENTS DON'T CAUSE CORPORATIONS TO COLLAPSE, IT'S THE OPINIONS OF THE EVENTS THAT TRIGGER THE COLLAPSE." _ Harvard business Professor, 2004.
AUTHOR: Karl - (U.S.A.)
SUBMITTED: Tuesday, September 01, 2009
To read that quote, simply 'Google' this- RIP OFF REPORT TOYOTA MOTOR CORPORATION USA MANIPULATION, and it appears in the Update entitled- 'MAY THE TRUTH BE KNOWN', which was posted on 7-16-2007 when the Dow Jones was around 13,950 points!
#2
Another Solution Than Listening to Karl....
AUTHOR: Jim - (U.S.A.)
SUBMITTED: Tuesday, September 01, 2009
You might want to hire an independent appraiser, pay from your own pocket, and have this new appraiser value your home. It probably won't be $200K, but it will not be $40K either. Bring that to your bank and see if that doesn't adjust the situation. Whatever the value turns out to be, you then file an appeal with your property tax assessor and bring the value of the property to be in line with the assessment.
At the same time, I would not be too hard with the bank; all of them are limiting their liability exposure based on what OUR government is telling the banks to do. The limits they're placing on you and everyone may not be actionable in court if the government had anything to do with the bank's action - and it is likely that may be the case.
Best of luck to you....
#1
Quote: "I predict that by sometime early in 2009 that the stock market takes that huge hit! After a full year of reality in 2008, the big collapse happens." - 8/26/2007
AUTHOR: Karl - (U.S.A.)
SUBMITTED: Tuesday, September 01, 2009
To read that quote from August 26th 2007 (WHICH CAME TRUE), simply 'Google' this- RIP OFF REPORT PRIORITY TOYOTA SCION AUTOMAX, and it appears in the Update entitled- 'Similar Post On The DODGE Page On This Site'. I believe it starts the 4th paragraph. It was posted on 8/26/2007 when the Dow Jones was around 13,500. On March 9th 2009 (which is "sometime early in 2009") the Dow Jones closed at it lowest level in many, many, many, years. It closed at 6,547 on that day.
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