Bank of America fees on home note. | TigerDroppings.com

Posted byMessage
Mercy Percy
Florida Fan
Norman Oklahoma
Member since Oct 2009
1270 posts

Bank of America fees on home note.


So I am a couple of month a head on my note and I look online tonight and they accessed me a late payment fee. I called them and they credited it but I was like how can you access a lape payment fee 23.50 if I don't have to make a payment until July. Wtf.

I know your hurting for cash but you don't have to rob me blind.







Back to top
Share:
BACONisMEATcandy
LSU Fan
Delta, Amex, & Über Threads
Member since Dec 2007
40960 posts

re: Bank of America fees on home note.


BoA will rob you blind... They are the one bank I refuse to ever do business with again





Back to top
jso0003
Auburn Fan
Birmingham/Atlanta
Member since Jun 2009
4763 posts

re: Bank of America fees on home note.


BofA has no fricking clue what is going on operationally.







Back to top
Layabout
UNO Fan
Baton Rouge
Member since Jul 2011
6531 posts

re: Bank of America fees on home note.


When you pre-pay they apply the overpayment to the principal. You still owe the next payments when scheduled. No different than any other bank.


This post was edited on 4/17 at 10:04 pm


Back to top
BACONisMEATcandy
LSU Fan
Delta, Amex, & Über Threads
Member since Dec 2007
40960 posts

re: Bank of America fees on home note.


quote:

When you pre-pay they apply the overpayment to the principal. You still owe the next payments when scheduled. No different than any other bank.


I know with USAA and with Ali that is not the case. My next car payment is not due until November right now.

But he also said he didn't miss any payments so... Still doesn't explain anything.






Back to top
OnTheBrink
Alabama Fan
TN
Member since Mar 2012
3539 posts

re: Bank of America fees on home note.


Just curious, but why would you prepay? Why not use that money once or twice a year to apply to the principal on the note to knock it down time wise?





Back to top
the LSUSaint
LSU Fan
Member since Nov 2009
5209 posts

re: Bank of America fees on home note.


quote:

When you pre-pay they apply the overpayment to the principal. You still owe the next payments when scheduled. No different than any other bank.



Wrong! I have a loan with them (they bought out the company holding my mortgage).

When you apply extra, there are very clear markers of where you want the money to go, if you pay online.

If you use the old mail in with monthly coupon method, the coupons (months included in payment) should all be in the envelope.

Someone just flat out screwed up.



This post was edited on 4/18 at 9:35 am


Back to top
Layabout
UNO Fan
Baton Rouge
Member since Jul 2011
6531 posts

re: Bank of America fees on home note.


quote:

If you use the old mail in with monthly coupon method, the coupons (months included in payment) should all be in the envelope.


BOA doesn't use coupons. They send a statement each month. If you send more than the amount of your payment, you can designate it to go either to principal or to escrow. If you don't specify, it goes to principal.






Back to top


Back to top




//