Bank of America Complaint
Submitted by: Anonymous | Post a complaint | Back to Complaints Forum
In January 2018, my mortgage account was charged $366.00 for “Litigation Fees.”In March 2018, I was again charged $473.00 for “Litigation Fees.”I believe (but I am not certain due to conflicting information I received from BOA) that these relate to a conversion from a condo to a townhome initiated by my HOA.Other than these amounts showing on my mortgage statement, I was never notified of these charges.
In addition, in May 2018, the attorney representing our HOA on the conversion was asked by BOA for $1,090 for a “before and after” appraisal (which we never received), $400 for legal review fee, and $450 for administrative review fee (which was later waived).I am attaching the email received by our attorney from BOA and the cashier’s check from the president of our HOA.
My interactions with BOA on this matter have been far from satisfactory.The consistent answer I get is “our attorneys say we have a right to recover litigation fees.”However, they cannot tell me where this right exists – under these circumstances – in my mortgage agreement, nor can they tell me what was litigated (or why).I’m sure you are aware that a borrower can get a lower interest rate if the property is designated a townhouse versus a condo.The HOAs proposal would have no zero negative impact on the value of the property.Why BOA felt the need to spend $2,329 on this is beyond me.For comparison, the three other lenders that needed to sign off charged $0.
BOA has failed to prove why spending this money was necessary.BOA has failed to prove where they have the right to charge these fees under these circumstances.I am requesting the $839 charged to my account be removed.I also feel that the HOA should be reimbursed for unnecessary charges.
What would you like the company to do to fix the problem? (optional)
Clear $829 off of my account.Reimburse my HOA $1490.