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Anywhere but Bank of America Home Loans
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We were told that it would take 4 -6 weeks to refinance our existing mortgage with Bank of America to a lower interest rate. So far it has been 9 weeks with no end in sight. We have 25%+ equity in the home. All payments on our current mortgage with BAC have been made on time. Credit scores are excellent. Like many other reviewers have stated, we have had to submit identical paperwork numerous times. Just when we think that the application process is complete, the paperwork is passed on to a new department. So far there have been four departments. (application, loan officer, underwriting and quality control) I can only wonder where it will go next. I have never had this experience with prior mortgages.
I will never do business with BAC again for any purpose. If you are able to choose another mortgage source, do so. I certainly wish we had.
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