BOA is a horrible bank, they are crooks. Please allow me to explain, in July 2010 m wife lost her job at the Post Office due to shut-downs and cut-backs. I had served 9 years active duty military and was currently a police officer from 1999 until the 2010 bankruptcy , I still work for the same agency with just a few more years to retirement.
Our home was never included in the July 2010 bankruptcy, we were never late on a payment, did not have a reason to include it in the Chapter 7. On April 27th, 2011 our residence that had not ever been late on a mortgage payment was hit by a tornado, total loss with my wife and I inside, our 8-year-old son at school at the time. But the home was completely destroyed, the insurance company arrived that day and started their claim process for a "total loss".
The first week of June 2011 we received our payout check from Erie Insurance company in the amount of $160,000.00 or so, Erie Insurance Company sent BOA they pay out of $72,000.00 to completely pay off the balance of the amount owed on the house. So we received our payout on our loss of property / belongings and Bank of America was sent their check for full balance payoff. We now owned the property free and clear and had no house on the two acres inside the city in an up and coming part of the city where residential property was turning commercial and the price of property in that area was BOOMING. We did not plan to rebuild on the property but see it commercial, where it would seell for several hundred of thousand of dollars.
Mid June 2011 Eric Insurance Company contacted us and asked us when BOA was going o cash their payoff check, they wanted to close the claim of the matter. We contacted BOA and they said they had not received the check that Erie had sent them, this went on and on for several months, BOA kept saying they had not received the check from Erie Ins. company. So, Erie put a stop on the first check they sent BOA and sent them ANOTHER payoff check for the balance of the loan. They sent it certified mail, several weeks go by the check is not cashed and Erie contacts us again, it is now SEPTEMBER 2011, the first check was sent to BOA the first week of June 2011. BOA told Erie they had not received the certified check they had signed for....
Meanwhile, my wife and I receive a certified letter from an auction company in Arkansas saying our property was going to be sold at auction in the county courthouse on a foreclosure auction. This was October 2011... needless to say we contacted the auction company who also made contact with Erie Insurance who proved that BOA was sent TWO payoff checks in full but refused to cash them because they wanted to steal the property.
BANK OF AMERICA ARE CROOKS