Consumer complaint received 2015-10-19
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: CA
Product: Mortgage
Sub-product: Other mortgage
Issue: Application, originator, mortgage broker

Complaint:
I applied for refinancing the mortgage loan with BOA XX/XX/XXXX there was a special promotion that I could refinance my home loan for 30 year loan at 3.75 % and up to {$1000.00} for the cost of the loan fees. 
Loan Consultant took all my information and stated that it will be taken care of in 6 weeks. 
I had told him that after 8 weeks from application I was going out XXXX for 5 weeks. 
It has been over 9 months I have done applications 3 x s total now in the last application I was advised to do a cash out for my equity line of credit at extra cost of $ XXXX {$300.00}. 
About 3 weeks BOA started offering me current deals whereas for nine months the loan consultant was assuring me that I will get the same deal that was offered to me on XX/XX/XXXX. 
In the mean time I had invested {$650.00} towards the loan fee as appraisal fee XXXX application fee and 2 x s credit check. 
I spoke to XXXX the loan department to get the refund of the money I had invested as I wasted more than 9 months of my time at times talking to XXXX people in the loan department for various questions. 
I application was dismissed as the time had lapsed and they did not get papers XXXX we have a new XXXX as of XX/XX/XXXX so when they informed me that there are delinquencies I called XXXX and in 2 days the records were cleared and information was given but by then application time expired, so the loan consultant started a new application and assured me that I will still get 3.75 % and total fee will not exceed {$1000.00} which included the appraisal fee, credit check fee and the XXXX fee I had paid during the first application. I asked the loan consultant to expedite as it had been & gt ; than five months since the initial application. He told me that people waiting to move in was a priority over refinance.During that time I refinanced my other loan that I had taken from BOA XX/XX/XXXX, with Nationstar mortgage lender XX/XX/XXXX. 
So as the XXXX application was expiring they closed it stating that my income debt ratio was high and the BOA could not give me the loan and after I clarified that my income debt ratio was actually less than what it was on XX/XX/XXXX the loan consultant started a XXXX application and advised me to add cash out and pay off my equity line of credit and he would maintain 3.75 % interest rate and my total fees for the loan will be $ XXXX {$300.00} more added to the {$1000.00}. XXXX total fee promised on XX/XX/XXXX. So more that nine months later BOA was negotiating with on current interest rates and charging $ XXXX {$3000.00} for loan fees. 
I spoke to various people including the regional chief every one had inconsistent comments chief said it became complicated as I added cash out and consultant said that because loan amount without cash out is less than {$100000.00} so the fees will be higher. 
So wasted 10 months of my time and energy at times there was a gap of 1 month between phone calls from the processor of the loan XXXX processor said that my loan is ready to be signed, second one called me and said that I needed another appraisal and bank would pay for it and still put it on my credit card on the file without my permission and with much effort and multiple phone calls I had that removed.Now the BOA wants to start a new application XXXX XXXX at 3.75 % no pints but the fee of loan will be current charges so they are changing the whole deal from XX/XX/XXXX which I have declined and have asked them to refund {$650.00} that I invested and I do not want to do business with them any more. 
It was a very harassing experience with multitude of phone calls and talking to so many different people. 
I had a similar experience with them XX/XX/XXXX when I took mortgage for the condo from the bank at time of finalizing loan they increased the interest rate and cost of loan and delayed the loan by 3 weeks and caused us lot of hardship and stress. 
I would like to get the {$650.00} bac

Company public response: Company chooses not to provide a public response
Company response to consumer: Closed with monetary relief