Can a bank (Bank of America) holding your mortgage stop you from refinancing to obtain a lower rate and monthly payment?
Answer
No, you always have the right to "redeem" your property from the mortgage. Lately, some people have found BoA "losing" the requests for a payoff figure. I recommend that you get order the payoff statement online. I know, the website has connectivity problems, but it's the only way I know to light a fire underneath BoA. If the payoff is delayed, contact the Federal Reserve Bank Dallas Office and file a complaint. If the rates go up because you could not close, having the online paper trail is the only way to get around BoA's corporate lying habit.
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