I also agree with the rest, shop around work with a local Mortgage officer that gives you detailed information and follows up on a daily or weekly basis. I have waited 4 to 5 months almost with some other banks and financing companies because of lack of communication, skills and customer service. My buyers have complained and sometimes all the details are not even explained upfront and then you get stuck and also hit with fees you never was told about! Find someone you can trust and make the connection today!
I recommend to do some research.
Best of Luck!
Certified Buyer Representative
1930 WilliamsBridge Road, 2nd Flr
Bronx, NY 10461
646-957-4648 http://www.mildredvalentin.voyagehomes.com http://www.mildredvalentin.point2homes.biz
My impression is they are overwhelmed. Although delayed, I think our relentless follow up was critical to move ours through the process.
Also what you need to do is be sure that you are cooperating fully and quickly with any information requests and they will come. I believe all banks are now requiring a final employment verification within 10 days of closing as an example.
Hang in there, and good luck getting across the finish line.
Unwavering Commitment to Service, Unsurpassed Results
Bank of America foreclosed on active military in defiance of Federal Laws. They are in court now.
Bank of America was at the heart of the robo-signing epidemic.
Bank of America is out sourcing their foreclousure activity. (When jobs are this countries greatest crisis)
Bank of America has foreclosed wrongfully on tens of thousands of home owners in the USA.
Bank of America attempts to add costs to the homebuyer by requiring redundant fess (such as flood insurance) that are already in place).
Bank of America relies on intimidation to impose their will rather and any version of good faith negotiation.
Why or Why are you even considering Bank of America! If history is any indicator, you will have only yourself to blame. Before it's too late, contact an area credit union, regional bank, any bank....or as suggested by others, call any mortgage broker for competitive quotes.
Many consumers stuck in your position---waiting months on end for the Big Bank to respond---are worried about the transition to a different Lender. Don't worry about it.
1. Be sure your Realtor and Attorney are aware of your changing over to a new Lender. Frankly, they'll probably cheer you on as they want to help you close your purchase. They can communicate clearly---and within legal boundaries so as to protect your Earnest Money Deposit---with the Seller the reasons for the change. They'll also smooth the waters for you, as it were, with the Seller who is just as frustrated as you are with the delay.
2. Muster up all your documents: paystubs, tax returns, bank statements, etc. and hand them to your new Mortgage Banker. Get your application completed and submitted.
3. Send an email AND snail-mail letter to your contact(s) at BofA. Keep it short and sweet. "To whom it may concern: I hereby cancel and withdraw my loan application from BofA effective this date. Please immediately return all original documents. Please immediately refund any monies due me." That's it. No need to explain; they're not your family or best friend, after all!
It's difficult switching over and starting again, but the alternative of waiting, waiting, and more waiting is too ridiculous to bear! Get it done, get your mortgage and get your home!
Clients who switch to me here in NY---I average 3 new "911" calls like yours a week---are nervous at first, but after the switch and the prompt and exceptional service they receive, they can't believe they waited as long as they did with the evil BIG BANK.
Go Local. Local Mortgage Bankers are your best bet for exceptional service and a commitment to YOU as a Home Buyer.
Trevor Curran NMLS #40140
Proud Mortgage Banker Since 1989
Try finding someone local to you that is a mortgage broker and has access to a number of different lenders.
Get a referral to a Local Mortgage Banker. Mortgage Bankers in your community will provide you with a much higher quality of service and financing options than any "Big Bank." Local Mortgage Bankers have long been the source of excellent financing options for homebuyers. Further, Loan Originators who work at Mortgage Banks are LICENSED whereas Loan Originators who work for the "Big Banks" are only REGISTERED. There's a BIG difference.
Sit down face to face with your Mortgage Banker to be thoroughly prequalified. The Mortgage Banker will review all facets of your loan request to answer your questions with regards to the types of loans and maximum loan amounts you could qualify for.
Consumers have been led to believe---thanks to huge advertising budgets with the BIG BANKS---that they should go to their bank for a mortgage loan. This is the WORST place to get assistance with the BIGGEST PURCHASE of your life! These BIG BANKS are basically BIG CORPORATIONS. You're a number, at best. With a Local Mortgage Banker you will be treated like a friend and a client for life. You can't imagine the high quality of personalized service you will receive from a Mortgage Banker until you try.
As to price---rate and fees---competitive if not better than the BIG BANKS.
You can verify the License of any Licensed Mortgage Loan Originator at nmls.consumeraccess.org
Proud Mortgage Banker Since 1989