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| User Info | Did BAC Cheat HAMP?; entered at 2012-03-12 10:40:36 | |||
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Eighty6thebs Posts: 4184 Registered: 2007-06-26 It's contained to sub-prime! 
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I had a BAC Mortgage and tried multiple time to refi it under the HARP 2 program. They stuck to a computerized appraisal that was 25% below market and used that as justification to offer an interest rate that was not competitive all while telling me it was a good deal as I would have a lower payment with their new quote. I finally yelled at them on the phone and said “the lower payment is because of the lower new loan balance based on what I’ve already paid down and not any interest rate savings you retard! You want me to pay you thousands in fee income so I can get a new 30 year mortgage with basically the same interest rate and you think that’s a deal for me?” BTW - I just completed the refi through an internet group that did a real appraisal on the house and it was nowhere close to the BAC computer number. The refi went through with no issue at 4.00 on investment property when BAC wanted 5.25. The best part of the entire process was logging on to BAC's web site and getting a message saying "you have no accounts with bank of America". Good riddance. I'm sure now they will buy the new loan back LOL. Last modified: 2012-03-12 10:41:10 by eighty6thebs
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