We have previously bought 10 homes and have refinanced 4 times. On this move to Florida we had purchased a home in Sept using a bridge or balloon loan to not lose this particular property with the intention of refinancing and securing cash out. The BB and T representative assured us "no problem",because we had all our documents current ,should be quickly done. She explained that she was the best and had a "team" to work with us to get this done. In the following approximately 90 days ,we heard her voice 3 times ,twice assuring "the team" had under control . We constantly had to call on status and constantly were told will be done soon. We held out having a home appraisal until we redid the landscaping and painting of the home as the last "box to check" knowing this affects the cash out based on the current appraisal. We were billed for the appraisal. Almost 60 plus days from when we first initiated the application ,the underwriter advised that we could not cash out until 6 months from the previous closing !! I was then advised that "we are working on that "! This was the last communication on the subject ! We meanwhile checked 2-3 other mortgage companies and were advised that you can not cash out for 6 months. The issue here...NO ONE of the 6 people on THE TEAM ,the original mortgage rep or the assistant to the underwriter bought this up or seemed to know about this !!! Not only did we endure extremely poor service,no responses; no sense of urgency or care ! Had we known from DAY ONE by the representative ,MS Cheri Campbell , we would have held off the appraisal and process until 6 months ! We are now out approximately $ 500 for the appraisal and will need to pay for another one in the future. The bank has not acknowledged this cost and has never communicated to us since on the status of our application ! They JUST DO NOT CARE !! This is both a personal as well as a systemic problem at BB and T
We recommend to all..NO MORTGAGES WITH BB and T !
As a 20-something with student loans and living on a budget, I can't afford to use BB&T. Each month, I'm being charged a $10.00 "maintenance fee," $4.95 for a "plus fee," $5.00 for simply having a savings account, on top of the countless fees I have encountered while with BB&T (ex. I once overdrew my account while in school on 3 transactions less than $5 each, resulting in almost $100 in fees which they would not even consider reducing for a poor college student). I finally decided to cancel my account, so I called the 1-800 # listed online. After going through the menu options over and over, I had to choose the option to open a new account in order to talk to a a real person. The lady I spoke with didn't tell me she was charging me $2.00 to transfer money into my savings (which I thought I had zero-ed out, but was charged $5 anyway so it was negative $4.99), so after I moved my balance in checking to a new bank, I was left with a negative balance of $0.07. I called back again, & after having to speak with Mgmt, they refunded the $2 but told me I better transfer the remaining $1.93 into my new bank by today or else I would be charged all of my monthly fees, leaving me with overdraft fees on top of those. So frustrating! I'll be ready to finally be done with this bank soon.
I have several accounts with this bank, including vehicle, home mortgage and investment loans, as well as checking and savings accounts. Everyone was extremely professional, courteous, and made me feel that they wanted my business. My previous bank (of 12 years) seemed like they wanted me to jump through hoops to get anything. So I switched to BB&T for everything and I have not been disappointed.