Complaint #1779227 submitted on 02/09/2016 relating to Bank of America. Complaint relates to Mortgage Conventional fixed mortgage - Loan servicing, payments, escrow account .
Complaint was submitted via Web and sent to the company on Tuesday 9th February 2016.
It seems like with every correspondence from Bank of America a new angle to XXXX consumers is revealed. In my latest correspondence and this has nothing to do with any of the other complaints so BOA can not state that this has already been addressed ... With this latest correspondence they state I owe them money but at the same time have placed {$700.00} in a 'unapplied funds ' account. You know what this means? It means they have taken and are holding, and using, and profiting from the use of my money. There is no reason in the world why they would or should not apply that money to my account except again, it 's a way to XXXX the consumer. They can state their logic but there is none and actually this is n't first time. A couple times they held money to later issue a check but without any interest to me. In fact when asked, they refused to apply the money to principle. The last time I checked, BOA or any bank does n't let you use their money without paying them interest and usually some fees so why do n't they pay consumers interest or better yet, apply extra funds towards principle on a loan but oh yeah, that means they make pennies less on the loan in the long run and that goes against everything modern day banking stands for!
| Company | Bank of America |
| Complaint ID | 1779227 |
| Date Received | 02/09/2016 |
| Product | Mortgage Conventional fixed mortgage |
| Issue | Loan servicing, payments, escrow account |
| State/ZIP Code | FL 336XX |
| Consumer Consent | Consent provided |
| Company Public Response | Company chooses not to provide a public response |
| Company Response To Customer | Closed with explanation |
| Submitted | Web 02/09/2016 |
| Result | Timely Response: Yes, Consumer Disputed: No |
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