Just a blog
Bank of America has signed me up for paperless billing for my mortgage. They don’t seem to offer any clue on my statement on how to keep getting paper statements.
They also made it so if I pay through their website up until the 9th it’s free of charge. From the 9th-15th it costs $6 to make an electronic payment. This is the first mortgage processor, I’ve had 3 so far, that has done this. It is the only bill I pay that has a fee if I make a payment from their website the day before it’s due.
I recently went through another refinance to get a lower rate on my loan to 4.75% from 5.625% to save $200/month. I went through my loan broker and was able to not have to fill out 100 forms with mundane details they verify later, which for me begs the question why don’t they just look it up to begin with as I’m sure they get deals from the right places. Anyway, I guess that’d be a GOOD bank that would just take some info from you instead of asking how much you make, the address of where you work, how many pets you have, what your favorite place to eat is, what color is your hair, and other useful information. Because there are no GOOD banks I go through a loan broker who fills out most of these forms for me and applies, or whatever it is that she does, to get me a loan. In any event I’m now with Bank of America Home Loans, which isn’t exactly the good bank I’d like to support.