[quote=AK]Sorry to hear about your ordeal. Is it too late to start another loan app as a backup plan? Maybe a reputable/honest mortgage broker could arrange some kind of bridge financing so the deal doesn’t fall through.
FWIW, I had a little problem with BofA several months back … I got a preapproval letter that stated in bold print “No prepayment penalty” with a little footnote … when I read through all the various disclosures, addenda, etc., it turned out there was indeed a substantial prepayment penalty. I got a lot of grief on these forums from people who accused me of being a flipper, financially illiterate, not worthy of joining the ownership society, etc. … but the way I saw it, a company that shows a lack of respect to its customers in one aspect of a deal can’t be relied upon or trusted in other aspects of the deal.
BofA didn’t clean up Countrywide — instead, Countrywide dragged them down to their level.[/quote]
I just got off the phone with another lender and he said he could close in 20 days and says he gets “getting screwed by BOA” calls all week. I had a rate of 4.875% with 1/2 point with them. New guy offers 4.875 with 2 points.
I am not sure what to do now and starting to boil over. Do I wait it out? How long? Start a new loan process? Will the seller work with me on this?
I wish the media would do an expose on the bullshit BOA is running on the public. It is almost criminal.
