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