We'll start in June of 1999, when we bought our house. We financed through a local mortgage company who immediately sold it to Nations Bank, who was subsequently absorbed by Bank of America. Fast forward... 2003. We refinanced our mortgage in 2003 through Wells Fargo. No apparent problems, process as smooth as glass. Fast forward to June of 2010. In the process of applying for a home equity loan to consolidate some bills and lower our monthly payout by a little over $500, our credit union did a title search. That search revealed that a lien on our property was still being held by Bank of America (BOA) from 2003.
The process of trying to clear this lien began on June 29 of this year. As a result, we have provided a photocopy of the original Cancellation of Deed of Trust, showing the signatures and notarizations done by BOA which never arrived at our County's Register of Deeds (ROD). We also provided a copy of the original, notarized, Affidavit of Lost Note, which should have been sent to the ROD but also, apparently, never arrived.
So, on 6/29, I trotted down to my local branch of BOA to get them to remove the lien by hopefully, this time, sending the proper documentation to the ROD. I held no illusions that the local branch could draw up and send such a document, but I figured a half hour and a few phone calls would probably do it. Ha. Very shortly after initiating this process, I began going to the bank every couple of days, sitting and waiting my turn, then meeting with the branch manager (hereafter know as the BM, LOL). For his part, he has convinced me that he is working to resolve this. Now, is he doing this with the urgency that I feel is appropriate. Hmmm, tough question. If this was his loan, I'm sure he would have been more diligent. But, by being in his face 2 or 3 times a week, I have enhanced his desire to be rid of this tangle. Despite multiple assurances from people, and their supervisors, and the peers of those supervisors, that the required documents were being prepared... were, in fact, being overnighted to the ROD, I got a rock.
Last Thursday, July 15th, said supervisor's peer assured the BM that the documents were being overnighted. Reasonably, one would interpret this to mean that it would go out either Thursday or Friday and arrive at the ROD either Friday or Monday. Monday I make another trip to the ROD, hopeful that I can get a copy of the documents necessary and return to the credit union to finish the loan process. No dice. I then perform my weekly habit of meeting with the BM, who made some notes on my online Commitment of Resolution (COR). BTW, I am not allowed to read these online notes, but must call a number and receive a synopsis from a customer service rep. At this time, the commitment to overnight the documents is reaffirmed. Ironically, this COR form states, "We are committed to providing you with world-class customer service and that begins with my ownership of this issue." Wednesday (yesterday)... Yeah, no documents. I call the BM and tell him that I am sparing both of us the hassle of meeting with him but that I would sure appreciate an update via phone. I missed his call because I was at karate, but he tells me that, in fact, they are still unable to locate the necessary information to draft the required documents and they have NOT BEEN SENT.
For his part, I swear I can sense the slightest hint of despair in his message. Probably because that means he can't get rid of me yet, and he still has to deal over the phone with these bureaucratic idiots who are unable to simply review the copy I provided of the original document, check my credit reports and verify that I owe BOA not ONE RED CENT, and send a duplicate to the ROD. I'm about ready to go all John Q on them. I don't have time today to go to the BOA, but you can bet I called him and will call/visit him again tomorrow.
If you skipped the prolonged read, suffice to say I have provided ample evidence to discourage most people from wanting to do business with Bank of America.