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Rainmaker
634,272
Kathleen Luiten
Resort and Second-Home Specialist - Princeville, HI
Kauai Luxury Ocean Home Sales

Yes! I've challenged some BofA charges and actually got a few reimbursed over the years. But mostly it's just pay, pay, pay....

Dec 11, 2015 05:30 PM
Rainmaker
1,624,172
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Lend Smart Mortgage, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

I refuse to deal with the large banks, which is why the big boys continue to buy up the small regionals. The general public must feel the same way.

Dec 11, 2015 07:44 AM
Rainmaker
3,985,771
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

They have done this for years...Only one that I have heard of

Dec 11, 2015 07:20 AM
Ambassador
5,213,048
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

The list of their victims is a long one...

Do a blog search with their name and read some good stories.

 

Dec 11, 2015 06:13 AM
Rainmaker
1,361,818
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Well they have to pay for the fines they incurred for the countrywide loans they absorbed when they took over countrywide somehow!  It's public knowledge they didn't take over countrywide of their own free will.

Dec 11, 2015 04:22 AM
Rainmaker
6,368,524
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

I have never seen a charge for a payoff figure. The customer should certainly complain and share that information with the local newspaper.

Dec 11, 2015 02:51 AM
Rainmaker
1,444,827
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Annette Lawrence , Palm Harbor, FL 727-420-4041 I have never heard of this before, but it doesn't surprise me.

Dec 11, 2015 02:29 AM
Ambassador
3,641,559
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

OMG, I would be a rich broker if I charged for every inquiry!

Dec 11, 2015 01:54 AM
Rainmaker
1,157,435
FN LN
Toronto, ON

I don't have any BofA clients but bank fees are a great way for banks everywhere to earn additional revenue.

Dec 11, 2015 01:50 AM
Rainmaker
175,464
Spirit Messingham
Tierra Antigua Realty - Tucson, AZ
Third Generation Full-Time Realtor® 520 471-6900

I have arrived at the point for buyers, if they are approved with B of A I STRONGLY encourage them to get approved elsewhere.  I list my experience with B of A.  I an nearly at the point of telling clients I am sorry, but  I will not work with B of A and can recommend another buyers agent.  

Dec 11, 2015 01:48 AM
Ambassador
3,986,518
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

There are many lenders that charge for the written payoff and yes it is just another way to gouge the consumer. They also charge expedited fees for doing it quickly.

Dec 11, 2015 01:19 AM
Rainer
60,591
Renee Paray
Coldwell Banker Preferred - Blue Bell, PA
REALTOR

At least they are universal in their application of fees. They even put the squeeze on one of their employees when purchasing a home. He was a VP of their securities division. 

Dec 11, 2015 01:18 AM
Rainmaker
212,655
Stefan Winter
Real Estate in IL & NV | Owner of Real Estate Web Tech | Daily Vlogger - Las Vegas, NV
Owner - Winter Group & Real Estate Web Tech

I've had it come up several times, there is a fee for everything now days.

Dec 11, 2015 12:52 AM
Rainmaker
3,069,684
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

The gift that keeps on taking - Love it!!

Dec 11, 2015 12:27 AM
Rainmaker
2,013,870
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

As a former Stock holder , i now detest BOA  !!!

Dec 10, 2015 11:56 PM
Rainer
363,700
David M. Dwares
Title Professionals Corp. - Fort Lauderdale, FL
Title guy with a broker license

Many lenders charge a fee to fax a payoff statement to the closing agent.  Some even charge a fee to accept a wire for the payoff funds.  It is more common than you realize, but since the fee gets added in to the payoff amount, it is rarely noticed or questioned.

Dec 10, 2015 11:46 PM
Rainmaker
1,136,262
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

PAY $37 OR GETTING RIPPED OFF WITH ANOTHER....

ONE WAY OR OTHER THEY WILL TAKE YOUR MONEY.

SOON IT WILL COST YOU TO EVEN TALK TO ONE OF THEM. THEY WILL TAKE PAYAPL TOO.

Dec 10, 2015 11:37 PM
Rainmaker
1,379,164
Raymond E. Camp
Howard Hanna Real Estate Services - Ontario, NY
Licensed Real Estate Salesperson Greater Rochester

The banks and government a fee here and a fee there and as they say both have bottomless pockets. 

No I have not heard of this here.

Dec 10, 2015 11:17 PM
Rainmaker
3,873,001
Richard Weeks
Dallas, TX
REALTOR®, Broker

I have not experienced this one; however nothing BOA does surprises me.

Dec 10, 2015 11:10 PM
Rainmaker
850,929
Bruce Walter
Keller Williams Realty Lafayette/West Lafayette, Indiana - West Lafayette, IN

Annette, another great testament of the BOA Constrictor  at work squeezing the life out of the average citizenry.

Dec 10, 2015 11:07 PM
Rainmaker
860,458
Troy Erickson AZ Realtor (602) 295-6807
Good Company Real Estate - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Annette - For some reason this does not surprise me at all. I wouldn't be surprised if all lenders did this, but they just include it in the payoff amount and don't even mention it to the borrower. It seems as though there are fees for everything, and the more banks and lenders are punished, the more fees there will be.

Dec 13, 2015 01:02 PM
Rainer
150,166
Michael Thacker - Re/Max Real Estate Center - Louisville
Re/Max Real Estate Center - The Thacker Group - Louisville, KY
Your best friend who just happens to be a Realtor

I don't think that is unique to B of A, I know of condo associations that do the same thing.

Dec 11, 2015 11:20 PM
Rainmaker
4,020,524
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Never happenred to me, but have heard some horror stroies about these type of charges!

Dec 11, 2015 10:14 PM