I am so very angry.

You're missing the point made by Sufferin Prius Envy.

It's very unlikely that your credit union will service your refi through the entire life of the loan. They'll probably sell your loan within a year on the secondary market, and the buyer of your loan could well be B of A. I refinanced some investment property a few years ago thru Etrade, and within a couple months they had sold my loan to Wells Fargo, who ironically, were unwilling to offer me the same interest rate as Etrade, despite me being a Wells Fargo premier customer with an assigned private banker.

 

Ive been with Countrywide for 14 years and when I saw the BofA news I thought exactly the same way.
BofA is rude. They go out of their way to find novel ways to extort fees and penalties.
(It might be Wells Fargo) ,but I recall reading how if you overdraw your account ,they have a computer program which automatically bounce's the largest # of checks possible in order to rack up the most penalties possible .For example if you write a hundred $1 checks and one $100 check.They will automatically clear the large $100 check first ,then let the small checks bounce .

 

Don't worry. At the rate of bank mergers over the last decade it won't matter.

Introducing THE BANK (tm).

(the only bank left...)

 

wavhovia does that too. it happened to me ONCE before i saw the racket they had going on. sure enough, every day they clear the transactions from largest to smallest amount. funny, that was the only time i've ever bounced an account too.

 

Through sheer lucky timing my current mortgage is 30 yr. fixed @ 4.95%. However, with Bernanke suggesting another deep cut at the next Fed meeting, I think we may see even lower rates by Spring.

Coupled with the overheated housing market correction (an exception being my county up 4.5% last year), it's time to start looking again.

I'm one of those who works the tax-exempt residential housing gains program (limits apply) currently available, the most generous tax-free deal for most of us outside of a Roth IRA...if you don't mind moving every couple of years.

I don't always buy bigger, but instead invest the proceeds and maybe get a new toy paying cash. I hate interest payments on depreciating assets.

Anyway, this thread reminds me of two things: Most financial gurus are big on Internet banks for high yields, low fees and asset protection. The other thought is that at times of stress, it's good to have a pet to talk it over with (cute Scotty).

 

I have a card from them, at first it was at 13%. Then for no reason whatsoever they jacked it up to 28%. I am like Wth in spades. Paid it off quickly and never looked back. I have Chase now for all my other stuff(except Home Depot and Menards). I still get checks from ba with offers for 2.99% for 6 months, then your regular rate, they get shredded.

 

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