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Bank of America Joke!!! No Closing Fees, Yea Right

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Services for Real Estate Pros with BeatYouThere.com
So I want to know if anyone has closed a loan recently with BANK OF AMERICA. 

I ask because the latest promo they have running is their NO CLOSING COSTS mortgage. 

So i applied for a measly 445,000 loan the other day. (Measly for where I live, lol) 

Anyone wanna guess what my closing costs are??

$3,269.85

Now i know that 3269.85 is not a bunch of money and I'm sure many of you are saying that I am cheap. But that is not the point.  The point is that when someone tells me that there won't be any closing costs, I expect ZERO closing costs, except for my attorney.  Not almost 4 grand. 

Comments I would love!!


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Karen Monsour
Coldwell Banker Fort Lauderdale Beach - Fort Lauderdale, FL
REALTOR, SSRS - Sells FL Waterfront, Short Sale Expert!

Did you read the HUD from back to front?  Were they closing costs or other costs such as the taxes you had to share for the year (perhaps had to pay 3 months of them ahead of time?), or doc stamps on the mortgage (who pays what in the county you live in?) Down in Florida it varies for each county. What did they list? Nothing is ever free...unfortunately.  Can you share the HUD? We might be able to help you a little more. 

That's nothing, my customer used BOA and paid over $40K...and his house was $585K....and it was his friend who was one of the VP's of BOA that hooked him up... and he put $35K down...

K

 

Oct 23, 2007 12:05 PM
Mark Langowski
BeatYouThere.com - Stamford, CT
K, 
Thanks for responding, ok, maybe I don't feel so bad. But no, I wasn't including the taxes that I prepaid.  

I can't believe your friend, ouch, 35k down and 40 in closing costs, that hurts. 

I will keep you posted when our site launches www.BeatYouThere.com we will be a launching pad for your business and its all free. 

Regards, 
Mark

Oct 23, 2007 12:09 PM
Mary McCleskey & Michelle Gumeny
Assist-2-Sell, Home Buyers & Sellers Realty, Inc. - Acworth, GA
Did they give a Good Faith Estimate? This does sound like prepaids or taxes. Thanks for sharing with us this loan program. I will be looking into it further!
Oct 23, 2007 12:22 PM
Karen Monsour
Coldwell Banker Fort Lauderdale Beach - Fort Lauderdale, FL
REALTOR, SSRS - Sells FL Waterfront, Short Sale Expert!
Def sounds like pre-paids....what does it say on your HUD as what you paid for???  Do you have the HUD and could you share that with us...they must be listed on the HUD as what the $$$ you had to pay was for???
Oct 23, 2007 12:52 PM
Anonymous
lrussell1

 

hi

i know this may not totally apply .but i have been totally screed by bank of America. have had a credit card with this company for over 9 yrs they raised the rates to 24.3 .have never been late. they said my balances where to high lol,,  where is the justice

Apr 09, 2008 12:16 PM
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