January 13,2010
For those of you that have read my blog thread on B of A we are coming around a corner now. The bank has ordered a BPO for the property and we are just waiting for that to be received so a negotiator can be assigned. You would think this is good news! NOT
While we are spinning our wheels waiting and waiting for the BANK to get there act together. and taking our valued time to generate 2 good offers ( Quite a feat in this market) the Wonderful Bank of America is now calling our clients and talking Modification! This after months of waiting and marketing keeping the buys waiting so not to cancel the contract. This would not be so bad but the sellers months and months ago tried to negotiate a loan modification only to fail. I am finding that the beloved banks are letting us Realtors market the dickens out of a property generate offers and work our butts off only to have a last minute reprieve with the sellers and negotiate a workable loan mod at our time and expense! THIS IS NOT THE FIRST TIME IT HAS HAPPENED. I have had Wells Fargo to the exact tactic right at the day of closing. Lucky us the sellers we so mad at the Bank for not talking to them sooner that closed anyway.
Hey you! Banks!!! we are not you puppets to manipulate! From now on my commission agreement will include getting a commission on not just a successful short sale but it will include Loan Modifications as well. Hope all Realtors will pay attention. To this and watch their back sides. OH and then B of A calls me today and wants me to send them New Business. NOT!
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