Reply to rejected for home equity line of credit by bank of america- but based on old information

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[quote=Anonymous]OP here. Thanks for the support and advice. I was specifically told that I needed to do a year to date only if  was applying for a Home Equity Loan, and not a Home Equity line of credit.

I was also actually told that they would get back to me regarding questions about income.

I was given definite misoinformation about the process as well as the qualification process. I was told it was going to be credit score and home equity. At every turn where I said maybe I should wait until XYZ I was told no no no. So, yeah, I guess thats my fault that I thought they wanted my business and would let me know what they really needed from me to make that happen.

And they DID look through my accounts when they asked for proof the business is in operation- I said uh just look a t our accounts we have with you. we get regular deposits to it, and that did, right then and there, and that solved that part of it.

Anyway, I will check with my mortgage loan holder and get  all the facts from them before wasting more time! At this point, even if BOA gets back to me I am not going to go with them if I can get something else.

Its comforting to know one rejection does not mean a guaranteed rejection from other lenders. I have not been through this before.[/quote]

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