Suggestions re my Bank of America problem

[Boudicea]

I have proof of delivery that my mortgage was paid off on Tuesday. Here it is Friday and BOA shows me not only as still owing them about 70 grand, but as being late on my payment. I have spoken/bitched at someone every day about this and they are F*CKING morons. Short of hiring a lawyer, any suggestions on what I can do here? Thanks for any help you can give, my blood pressure is skyrocketing!

[prolesunited]

1. When you tell them you have proof

What is their response? How high up have you gone in your calls?

[Boudicea]

2. They say the mtg dept is in transition and they're ...

running behind on posting. Seven to 10 days behind. I know if I was 7 to 10 days late paying my mortgage there would be financial consequences, yet what consequences will they have? None. As far as how high up, as high up as their damn 800 numbers will take me. They insist that not only can I not call the payoff dept, they themselves must go through a liaison to reach them. I don't believe that for a minute.

[ET Awful]

4. I quit dealing with BoA in 1992. . .

When I had a car financed through them, got a pay off amount from them, took them a cashier's check the same day for the amount, then 3 months later after numerous calls, they still hadn't released the title on the vehicle, come to find out they had added on more interest after I'd called them for a pay off.

They were holding the title on my car and not releasing it (which I needed badly because this was refinance through another bank, and I needed to get them the title). . . this wouldn't have been THAT bad, except that the amount in dispute was under $10.

So, they got me in hot water at my new bank, and cause me a few million headaches over an amount under $10 that they had added to the account in the 4 hours between the time they gave me the pay off and the time I took them a cashiers check.

[Boudicea]

6. As soon as this mess is cleared up

I'm going credit union, all the way.

[prolesunited]

7. You shouldn't be penalized

for their delays. Can you get them to put this statement in writing. I know there were several successful class action lawsuits against CC companies who weren't posting payments to accounts when they arrived in order to collect late fees.

I would say keep raising a fuss and just make sure you're documenting all of your calls: date, time, who you spoke with, what said. You may indeed need a lawyer and this documentation will come in handy.

Good luck!

I had someone take out a cell phone in another state in my name and run up a nearly $3,000 bill. It was a PAIN to straighten it out and get it removed from my credit report.

[BJ]

3. If there's a local mortgage office...

...go down and get in the face of the highest level manager with your documentation. If not maybe you should fax your documentation in care of some managerial person with the implied threat of legal action.

[dofus]

5. Your state should have a

state banking commission, or s similar outfit that would be absolutely fascinated to receive copies of all your correspondance. Your local newspaper might also find writing an article about this to be worthwhile.

[toddzilla]

8. BOA is a joke

they wanted to charge me ten buck to cash a check drawn on their own bank..

credit union ONLY, forever.

[bratcatinok]

9. I worked for Bank of America

in the production end of mortgage banking. It's true they have to use a liason in order to deal with the payoff department. I also had to go through a liason when I was wanting a payoff in order to close on refi's.

Also, they could very well have your funds to payoff the mortgage but it hasn't been applied yet. It's not unusual for it not to have been posted to your account as of yet. What 'should' happen is your funds will be applied to your account based upon the date the funds were recieved inhouse.

How did you send the funds to payoff your mortgage? Was it by personal check, cashier's check, through a title company or through escrow?

I might be able to help a little more if I had that information.

[Boudicea]

10. Thanks for that info

I refinanced the mtg through AEDC credit union; I'm not sure what form the payment was in. AEDC tells us that they have had problems like this with BOA before.

[bratcatinok]

12. When you refinanced

did you go through a title company to complete the transaction? Or did you close at the credit union?

Whoever sent the funds into BofA should be able to track the method they sent the funds in. If it was by wire, they should have a fed number to confirm funds were sent. It it was by company check (either the credit union or title company) they should have a record of how they sent the funds and whether it was check, wire, cashiers check, etc.

If it were me, I'd give BofA until Tuesday (next week) to get their act together and post the funds to your account. If it hasn't happened by then, I'd start doing the tracking and nagging BofA.

I worked for them and took early retirement from BofA. The only business I do with them is my checking account because they're too big and impersonal.

[Padraig18]

11. BOA? Ewwwwwww...

I had a HUGE problem with them (which I won't go into) but one call to my State Department of banking produced swift, satisfactory results.

Try it! It's normally a toll-free call, and you might just be pleasantly surprised. :)