Can someone please explain to me how Bank of America is allowed to operates with our money?

Dec 312011
 

About three years ago, I refinanced my parents’ home, partially for a better interest rate, but also to get away from the practices of Bank of America.
Approximately two months ago BOA, bought-up my mortgage company, and I am once again back to the forces of evil.
Then I read this article in the LA Times;

http://www.latimes.com/business/la-fi-bank-america17-2009oct17,0,4906039.story

The “convince” fees alone have made me start shopping again.

Can someone please tell me why we would allow a company to operate like this? The government, ok, maybe, but a taxpayer financed Privet Company?

Which big bank is safe to put you money in?

Dec 252011
 

9-15-08
Bank of America, Wells Fargo, Washington mutual? A lot of the finance companies are crashing down due to mortgages and housing market… So in today’s economic times, which bank do you think is actually safe and also reliable that the bank won’t go bankrupt?

Hmm! Mortgage question for Smart People :)?

Dec 182011
 

If you were to purchase a house in California, which company would you finance your mortgage from. Chase? Ditech? Bank of America? Wamu? lending tree? Who in GENERAL has the best rates with the lowest closing costs. Thanks :)

Do I have to miss at least 2 mortgage payments before the mortgage companies are willing to renegotiate?

Dec 182011
 

I have a primary residence that is privately financed by the owner. The houses that I want to negotiate the terms of the loan such as lowering interest rates are my 3 rental properties. All 3 of the rental properties are financed through Bank of America (originally done by Countrywide).

It looks like the Democrats are not as ethical as they promised they were?

Dec 082011
 

WASHINGTON (AP) – House Democrats have declined to subpoena available records that might reveal whether other members of Congress got discounted VIP mortgages from subprime lender Countrywide Financial Corp. similar to the sweetheart deals given Democratic Sens. Chris Dodd and Kent Conrad.
Republicans say they are willing to risk that the records now held by Bank of America may show that GOP lawmakers were also “friends of Angelo” who got preferential terms on personal mortgages at the behest of then-Countrywide CEO Angelo Mozilo.

http://www.breitbart.com/article.php?id=D99OUTF03&show_article=1

What is the best mortgage company?

Dec 072011
 

I’m looking into buying a home and went to bank of America because I bank with them and wanted to keep all my finance in one house. I am now doing some research as to the best company to take out a mortgage with and seems people have had major problems with them. I spoke to people in VA, and FL and they were all anti bank of America.

I’m now looking into Wells Fargo and wanted some opinions from home owners as to who worked out best for them.

Any information is helpful

Smaer people, what will you do? Sue the bank? Sue husband?

Dec 062011
 

I finally get all fact straight and I visited lawyers. Bank of America signed a Home Equity Loan of Credit to husband a year ago. House is in NH, loan was signed in Ca, because we separated 8 + years and divorcing. Three months after Bank release the fund, Bank found out there are two people(husband and I) on the title. So Bank sent me the paper work to sign. no Signature of me, of course. Lawyer said I can save half of the equity by foreclosure but I don’t want to move. Husband has got into 100k credit cards debt tried to keep up all bills. So my house value, at current market, is 350k to 390k, first mortgage 100k, HELOC is 250k,He doesn’t want to have bad credit on his record. So he works hard to paying it. Lawyer asked 10k retainer fee and no one tells me how much it will cost till the whole thing straight out. Is it worth it for me to fight? I’m homemaker for 20 years. This matter bothers me so much and my health is going down and I’m so worried everything will collapse. my older kid goes to college,40k/year,She may not able continue because we can no long afford it. Advice on what the best I can do to save my kids and me out of this situation?

Is this a good deal?

Dec 062011
 

Ok, looks like my last post still left out some important details for you guys to give me accurate advice.

I got offered 6.625% with 1% Discount Point and 1% Origination Fee for a 30yr fixed using a VHDA loan program. (http://www.vhda.com/vhda_com/Template_app.asp?VHDA_COM_PAGE_NAME=currentrates)

Overall, is this considered good or bad? If it’s bad, please state why you think it’s bad and what you think a better rate I could get would be…

-It’s a joint application and both our credit scores are in the mid-700s.

-Low debt to income ratio

-We not putting any money down (zero-down)

-There are no assocatied mortgage insurance (PMI)

-We’re using the builder’s lender because of the nice incentives: 10k towards closing and 1% Origination Fee.

-Location is Northern Virginia

-Amount of loan is $ 365k

This is our first home purchase and the only other placed we shopped at was Bank of America and the GFE was not any better and didn’t include the nice incentives.

Wells Fargo projects record $3 billion 1Q profit?

Dec 042011
 

NEW YORK – Wells Fargo & Co. said Thursday it expects record first-quarter earnings of $ 3 billion, easily surpassing analysts’ estimates and providing an encouraging sign for the banking industry.

Wells Fargo is the first major bank to give an indication of how the first-quarter looked.

Most of that business was refinance applications, but about 25 percent came from customers looking to purchase homes, Atkins Wells Fargo’s CFO said, noting the recent quarter’s mortgage activity has been among the strongest quarters since the housing market began to collapse in 2007.

The government has been implementing many new programs in an effort to cut interest rates, hoping to bolster the beleaguered housing market, and those programs have definitely helped, Atkins said.

“For sure the reduction in interest rates is having an impact on the wave of activity in the mortgage market,” Atkins said.

Signs of improvement from one of the nation’s largest banks gave investors reason to rally around the banking sector amid hopes that the worst of the credit crisis is ending. The KBW Bank Index, which tracks 24 of the nation’s largest banks, surged 20.1 percent to 33.81. Some of the nation’s hardest hit banks have also rallied, with Citigroup Inc. gaining 34 cents, or 12.6 percent, to $ 3.04. Shares of Bank of America Corp. rose $ 2.49, or 35.3 percent, to $ 9.55.

Are you feeling hopeful, maybe a little bit?

Is the recession over for anyone else?

Dec 032011
 

Is the recession over for anyone else besides Goldman Sachs, Fannie Mae, Wells Fargo, Citigroup, Bank of America(–>Countrywide<–), JP Morgan, PNC Financial Services, SunTrust, Region Financial Corp, Hartford Financial Services, Wachovia, Saxon Mortgage Services, OneWest Bank, M&T Bank Corporation, National City Bank, East West Bancorp, Inc, New York Private Bank & Trust Corp, Flagstar Bancorp, Cathay General Bancorp, International Bancshares Corporation, Aurora Loan Services, Litton Loan Servicing, Discover Financial Services, Zions Bancorp, Comerica Incorporated, State Street Corp, Ameris Bancorp, Anchor BanCorp Wisconsin Inc., BNC Financial Group, Inc., BancIndependent Inc., Bridge Capital Holdings, Brogan Bankshares, Inc., CBS Banc-Corp., Cathay General Bancorp, Center Financial Corp. and anyone else on Wall Street that democrats care to give our money too?

Do you still think democrats are against corporate welfare?

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