$#@!%&^!!@#! Bank of America !!!!!!!!!!

[dixiegrrrrl]

As we all know they bought Countrywide.
Who held our 2005 mortgage ( back then, I knew nothing about them)

Today a big slick glossy booklet comes in the mail, "welcoming" us to BOA.
Open booklet, all done in bright red and glossy white, and LARGE CARDS are inside,
enticing and promising us the most happiest of experiences if we switch banks and go with them.
Cause now, ya see, we are members of the BOA family.
Cause they now have my damn mortgage.
So now every month I gotta write "Bank of America" on the mortgage check.x(
And deal with them when, down the road, they inevitability screwup the mortgage payments.

This expensive promo of their financial "products" comes after how much TARP money we paid to them?

:banghead: :banghead: :banghead: :banghead: :banghead:

[Booster]

1. I got the same thing with the same reaction as yours. When I

do refinance (and it won't be long) I will be looking at ANY other lender besides BOA. I don't like them and will not use them unless I have to and that's not likely.

[dixiegrrrrl]

7. That makes me feel better to know you reacted too.

I always feel I am buying bullets in the guns that are going to be fired back at me, whenever I have to pay into a criminal system, ya know?

Fortunately, we have no income taxes anymore to pay, only county and city.
A wee bit of a triumphant feeling, that.

[Warpy]

2. They've just taken over servicing your mortgage

which is likely owned by a thousand different institutional investors, from other banks to pensions to states to countries.

They actually got a reasonable deal when they took Countrywide over. What is going to sink them is Merrill Lynch, a total pig in a a poke, balance column saturated with funny paper from hedge funds.

Don't worry about the name on the check. It's just the game you play to keep a roof over your head. At least you have the chance of paying the vultures off some day, unlike people who send that monthly check to some slumlord.

[dixiegrrrrl]

6. Any chance they do not own the mortgage?

Ha! That would make me happy happy.

Yeah, the name of the payment slip is BAC Home Loans Servicing, LP, in Dallas.

but you and I know, Warpy, I will be getting tons of offers now from BOA who will also sell our name to a zillion other marketing lists.

The game I am playing, btw, is we can afford to pay extra every month on the small mortgage, so hope to have it paid off in 12 years instead of 30. The least I can do is not pay ***them** the massive chunk of interest they are counting on.

[Warpy]

11. Paying it off early means depriving them of that monthly service fee

so you go, grrrrl!

There is little to no chance they own your mortgage. Like I said, Countrywide was infamous for writing paper and shopping it around to outfits who hacked it up into little pieces and then sold it as securities.

There is a slim chance BOA owns your paper, but it's about the same as the chance of having that pink and purple hippo fly overhead and shit down your chimney, so relax.

[Yunomi]

3. A dear friend of mine

"left employment" at BOA when their idea of customer service by tellers became how many financial products they sold weekly.

[javelin]

4. Its wrong the government keeps pouring our tax dollars to them.

I had a nice large savings account at Bank of America a few months ago. I just let it lay there not paying any attention to it. They were paying me .2% interest, that is nothing at all, I pulled all my money out of their savings account and opened a new one a Bank Midwest that pays .5% and a little later changed that to a money market account paying 1%.

Bank of America is now paying .1% on their savings accounts. That is horrible. I still have a checking account there because I have so many items automatically going into and out of that account, it would be such a hassle to change all of that but I am later on.

I always enjoyed getting a nice refund from the government but I changed that today. I sent them a letter telling them I want them to NOT withhold anymore of my money, I want it, if I owe I will pay them, I want to get a little interest not them.

I fear for this country, I think we are headed for total collapse before 2010. We are in really terrible shape.

[mahina]

13. I know it's not all bunnies and roses, but have to say

we're in a whole lot better shape than we were prior to Nov. 08.

Agreed the gov't should quit dumping money into the banks, esp. for losses involving the unregulated credit default swaps.

Still, just for perspective, you could add the TARP money, the stimulus dough, and the entire GDP of about a third of the countries on the planet and still not even touch the annual spending of the USA on military expenditures. As a multigenerational veteran family going back forever (well, since the Revolution, and up until Vietnam) I can say that the money spent on our men and women in uniform is a diminishing fraction up until Obama's presidency. We can cut a WHOLE lot of fat from that bloated segment of our national spending without negatively impacting our men and women in uniform. May even help. The way obsolete money pits get made, and campaign contributions are spent, is about to CHANGE, and for this reason I have HOPE.


:)

[onehandle]

5. Us too. nt

[Faygo Kid]

8. They took over my credit cards years ago.

And I was very, very deep in a hole after being unemployed for more than two years.

It's down to "card" now, and well under 10 grand. Will be paid off in just a few months, and except for my used car with just another year to pay on it, I will be debt free.

I look to keep it that way.

[AndyA]

9. Years ago I banked with a great bank named C&S out of Atlanta, Georgia.

I lived in Florida at the time, and it was a great bank! If I needed something, I went in and asked them about it and they made it happen for me. I had my car loan there, checking, savings, CDs, and referred tons of friends and they all thought it was a great bank as well.

Then they got bought and became Nations Bank. The great people they had working at C&S either went elsewhere, or got fired. Service suffered. Charges and fees for things increased. I moved everything to another bank except for the car payment, which only had another year or so until it was paid off.

I had nothing but trouble with them. They said I was late with my last payment and charged me a late charge. Right. My check cleared my bank out of state on the same day it was due, so this proved it wasn't late. It took forever to get it fixed. Then when they sent me the title to my car, my name was spelled wrong. For months, I tried to get them to straighten it out but they never did.

Well, Nations Bank is now what we know as Bank of America, and they are even worse than Nations Bank.

Really, allowing the financial institutions to consolidate and grow bigger has been a huge mistake in my opinion. Service has suffered, fees have increased, and now they're too big to fail.

Break the SOB's up and put laws in place to prevent them from getting too big ever again!

[CurtEastPoint]

12. I remember C&S...they were a class act. Sadly, they did get eaten

ultimately by BOA.

[mahina]

10. Before all this junk went down, I refi'd with BOA

and it's worked out fine. I pay my mortgage online through my credit union. No problems, knock wood, and it's been 5 years.

I'd be pissed about the big expense too, but have to offer some comfort about the mortgage.

[MGB67]

14. We got the same damn package.

Beware the floating due date! Beware paying on a Monday morning something due on Sunday (?).

Our first task.... REFINANCE with Wells Fargo (would rather have Golden One credit union but they not do VA).

Speaking of the VA. The Veterans of Foreign Wars sent me an offer for a credit card at a good rate. Card was from B of A (I had no way of knowing). "Good rate" did not last long and was willy nilly raised to 23 percent. I guess they have no qualms screwing disabled veterans...... just so many sheep to be shorn.

I wonder that if I wrote "Bank of Asshats" on the check..... would they cash it?

Probably. But there would be some (huge) penalty assessed.

We the people (poor saps to the banks) should have our own rating system. If the asshats can rate OUR credit, we should rate their methods and basic honesty.

I would rate Golden One about 750, Wells Fargo about 520...... Bank of Asshats would be a negative number.

How would you rate your "best" bank?

[dixiegrrrrl]

17. Luckily, we can afford to pay our mortgage 1-2 months ahead

thus it is never ever late.
It is less than 500.00 a mo, because we put a large down on the house, and bought where prices were very low.
They are lower, now, of course.

My heart bleeds knowing my kids, in their late 30's, will not be able to buy a house for many years, if at all.

[Turbineguy]

15. The Turbineguy Postulate of Banking:

There are Banks you make deposits to and there are banks you borrow money from.

The BoA is definitely not on the first list.

Shame really, they used to be such a good bank.

[thecrow]

16. Well, let's see.... I had my identity stolen through Countrywide...

I wonder what BoA will do?
My brother has had a lot of trouble with BoA.
He paid his credit card on the due date IN PERSON and the next month they raised his rate from 6.99% to 28%. Why? The girl who processed his payment applied it to a CLOSED account.
Sure, you say... go talk with them.... they told him if he pays the bill every month on time FOR A YEAR maybe.. maybe... they can reset his interest rate back.

I do not like them!

[pokercat999]

18. May I suggest that you require them to produce the note?

It could be they do not have a mortgage signed by you and do not have the right to collect on this fictional mortgage. I'd at least check it out.

[SeeHopeWin]

19. Refinance your house right NOW, rates are cheap and smaller banks are eager to get your

business...We are getting ready to close on our refi, rate is 4.75%. This Obama economy has been very good to my family :)