Comments on: Bank of America Offers No-Fee Mortgages, No PMI http://cashmoneylife.com/2007/05/08/bank-of-america-offes-no-fee-mortgages-no-pmi/ Your Money. Your Career. Your Life. Sun, 12 Oct 2008 04:47:28 +0000 http://wordpress.org/?v=abc By: Patrick http://cashmoneylife.com/2007/05/08/bank-of-america-offes-no-fee-mortgages-no-pmi/#comment-3156 Patrick Thu, 13 Dec 2007 11:07:27 +0000 http://cashmoneylife.com/2007/05/08/bank-of-america-offes-no-fee-mortgages-no-pmi/#comment-3156 I'm glad to hear BoA stood by their promise. :) I’m glad to hear BoA stood by their promise. :)

]]> By: PT from Prime Time Money http://cashmoneylife.com/2007/05/08/bank-of-america-offes-no-fee-mortgages-no-pmi/#comment-3153 PT from Prime Time Money Thu, 13 Dec 2007 07:46:54 +0000 http://cashmoneylife.com/2007/05/08/bank-of-america-offes-no-fee-mortgages-no-pmi/#comment-3153 Patrick, I did get my check. It finally came in. I posted about it here: http://ptmoney.blogspot.com/2007/12/how-to-get-250-from-bank-of-americas.html Thanks, PT Patrick,

I did get my check. It finally came in. I posted about it here: http://ptmoney.blogspot.com/2007/12/how-to-get-250-from-bank-of-americas.html

Thanks,

PT

]]> By: Patrick http://cashmoneylife.com/2007/05/08/bank-of-america-offes-no-fee-mortgages-no-pmi/#comment-3120 Patrick Tue, 11 Dec 2007 02:28:25 +0000 http://cashmoneylife.com/2007/05/08/bank-of-america-offes-no-fee-mortgages-no-pmi/#comment-3120 Hi PT, I don't know of anyone who has taken them up on this or has succeeded. I hope you can get it sorted out! :) Hi PT,

I don’t know of anyone who has taken them up on this or has succeeded. I hope you can get it sorted out! :)

]]> By: PT http://cashmoneylife.com/2007/05/08/bank-of-america-offes-no-fee-mortgages-no-pmi/#comment-3117 PT Mon, 10 Dec 2007 23:47:16 +0000 http://cashmoneylife.com/2007/05/08/bank-of-america-offes-no-fee-mortgages-no-pmi/#comment-3117 I'm interested in the other side of this program...the $250 Best Value Guarantee. Has anyone recieved their check yet? I can't see to get my check. I applied for two loan programs (BOA and DHI), was accepted to both. DHI ended up offering the best value. I jumped through all of BOA's hoops to get the $250 and still haven't recieved the check. Anyone else having this issue? Thanks, PT Prime:Time:Money http:ptmoneyblog.com I’m interested in the other side of this program…the $250 Best Value Guarantee. Has anyone recieved their check yet? I can’t see to get my check.

I applied for two loan programs (BOA and DHI), was accepted to both. DHI ended up offering the best value. I jumped through all of BOA’s hoops to get the $250 and still haven’t recieved the check. Anyone else having this issue?

Thanks,

PT
Prime:Time:Money
http:ptmoneyblog.com

]]> By: Patrick http://cashmoneylife.com/2007/05/08/bank-of-america-offes-no-fee-mortgages-no-pmi/#comment-76 Patrick Wed, 09 May 2007 17:38:20 +0000 http://cashmoneylife.com/2007/05/08/bank-of-america-offes-no-fee-mortgages-no-pmi/#comment-76 Dimes, I think you are right. From the CNN Money article: 'Robinson said rates will be "competitive," though not necessarily the lowest. "We certainly think they'll be in the top half of competitiveness in every market we're in," he said.' Competitive does not mean best, and the top half of competitiveness leaves a lot of room for improvement. I imagine they will use this mostly as a marketing ploy and more than make up the money on the back end. Most banks will not do something that will not make them money - it's their business. :) Dimes, I think you are right.

From the CNN Money article:

‘Robinson said rates will be “competitive,” though not necessarily the lowest. “We certainly think they’ll be in the top half of competitiveness in every market we’re in,” he said.’

Competitive does not mean best, and the top half of competitiveness leaves a lot of room for improvement.

I imagine they will use this mostly as a marketing ploy and more than make up the money on the back end. Most banks will not do something that will not make them money - it’s their business. :)

]]> By: dimes http://cashmoneylife.com/2007/05/08/bank-of-america-offes-no-fee-mortgages-no-pmi/#comment-75 dimes Wed, 09 May 2007 15:05:37 +0000 http://cashmoneylife.com/2007/05/08/bank-of-america-offes-no-fee-mortgages-no-pmi/#comment-75 <i>If you are in the market for a new home, it can't hurt to at least look at Bank of America as an option. It might even save you a couple thousand dollars.</i> Doubtful. More likely than not they plan on paying for this by increasing interest rates, where even a tiny increase in your mortgage rate can mean thousands more dollars in interest over the life of the loan. BofA does not have your best interests in mind. If you are in the market for a new home, it can’t hurt to at least look at Bank of America as an option. It might even save you a couple thousand dollars.

Doubtful. More likely than not they plan on paying for this by increasing interest rates, where even a tiny increase in your mortgage rate can mean thousands more dollars in interest over the life of the loan.
BofA does not have your best interests in mind.

]]> By: jim http://cashmoneylife.com/2007/05/08/bank-of-america-offes-no-fee-mortgages-no-pmi/#comment-73 jim Tue, 08 May 2007 12:19:24 +0000 http://cashmoneylife.com/2007/05/08/bank-of-america-offes-no-fee-mortgages-no-pmi/#comment-73 Nice find! Nice find!

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