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  • Your company shafted me. | 16  

    To: Brian T Moynihan, Bank of America
    Dear Mr. Moynihan,
Just wanted to thank you personally for the widespread use of the ol' bait-and-switch tactic used extensively by your mortgage division.  In short, I applied for a $25,000 home equity loan to remodel my house.  I had 60% equity in the home (valued at $265,000).  I also had good credit and job history.  Assured by your representative that the loan was approved, I began demolition of my kitchen.  The day we were to close the loan, your rep called me and told me "my underwriter made a mistake and you don't qualify for this loan.  However, we can give you the loan with a much higher interest rate."  At this point I told him where he could stick his loan.  Thanks to your company, I had to cash-in savings bonds meant for my daughter's college education just to have a functional kitchen again.  After some research, I found this was common practice.  Not that it did any good, I filed a complaint with the Better Business Bureau.
Thanks again for your greed, and enjoy your bonuses.
Sincerely,
Jordan Lindquist
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