Bank of America Short Sales the worst lender ever sad stories

I had answers for everyone but seems that AR system did not input my answers for all of you, I will be with one and one again and starty the same process in MS Word so next time I don't lose all !

I really appreciate your comments about BOFA

Thanks Dawn, I really appreciate your help this is going as well to a Bank of America Rep and hope that he speaks with his managers and more people involved in the high level staff until it reaches to Bank of America CEO ears.

Lyn, # 11
I already did it, thanks for the suggestions, please let me know what blog do you want that I include here in the links and I will do it, thanks for comments.

Tchaka, #12
I don't know that answer, but what I can tell you is that it does not matter how experienced you are with the short sales transactions the system right now with BOA and Equator are not the best to give solutions and answers.

Lydia, #13
That's seem a different acronym J, I don't think that bank of America would like to be called on that way, but they are forcing many realtors, buyers and sellers to have a bad image for what they are doing and this starts from the root, CEO personnel.

 I agree 100% with you that's what happened in this file the 2^nd buyer / offer was a little bit better from the first one, so if Fannie Mae approved the first one, why they would not accept the second one that seemed very solid? Policies and regulations? Damn not good answer! They are causing a lot of pain to all parties with that policy. On the other hand if the offer would be less, then I agree that they need to review the new file again to see all the whole scenario, it does not make any sense all of this.

 equator is a horrible system and personnel does not know how to handle that, the system  is very cryptic,  Don't you hate when always a personnel tell you a different story, answer or comment about your questions?  Also when some buyer's agent call me to submit offers, when they asked what was the servicer or lender who was providing service to this file and I answered "Bank of America" they just say "ohhh my god, thank you and good luck"    Thanks for sharing your experience / comments are always well appreciated!

Jenny # 14
I would send soon this to Bank of America all high level personnel with the help of some of you, so we can do something about, we need to start giving solutions and fix this disease, it's not good for everybody, short sales should be win / win and I don't see that is happening here. Thanks for your comments.

Nick #15,
there are many proof and facts for what we are saying, we are not telling any lie or we are not saying something that is not true, bad thing would be flaming or blaming a company when we don't have the reason. We are just here expressing our frustrations, experiences and problems that we have had with Bank of America., thanks for your comment.

Eric 16,
The system has a lot of bugs that I can name, but not on this thread also the personnel that they have it's not qualified to handle it, they don't support any feedbacks in the system promptly, I'm talking about the BACI. Not all scenarios are treated equally and it depends a lot what personnel you got, I have written before about this, the personnel and the system makes a 360 difference on your file, thanks for your comments.

James # 17
You are so funny, but that is true, it can age everybody, it's not a good system so far, many times it's the long waiting that it takes, 10 months for an approval? A short sale it would not take longer between 2 to 4 months.  If you are so lucky you receive approvals in 30 days or less, but everything depends what personnel you got assigned and how experienced they are. If you read my past blog, my approval was within 30 days with Bank of America.

Dean, #18
I agree, they blame the investor, but I called fannie mae and they tell me that since BOA is the servicer and they have an agreement with them,  Fannie Mae can't force BOA to take decisions, are you kidding me?  BOA personnel blames Fannie Mae and Fannie Mae personnel says that it's BOA's decision who is telling the truth?  Thanks for commenting.

Eric, # 19
I've been lucky if I can call it on that way that I have never had any issues with Wells Fargo, but I understand that many others answers, I agree totally agree with you, it's better for them to do that and benefit for what we pay for the taxes. Thanks for your comments.

Laurie, #20
Well what I can say? If people does not like BOA service they will do whatever they have to do to get out of there or solve the issue.

Vandyk, #21
It's a chain lenders are affecting all buyers, sellers, realtors and the economy with more foreclosures and short sales, it affects the whole subdivision the real estate get worse with that, thanks for your suggestions, we will have to do that if they don't answer to our complaints and bad experiences asap! 

Carol, # 22
See? That's what I'm talking about, we always receive different answers from several people. Thanks for your comments.

Jeff, #24
True, on my side it's not that I don't alert the buyer's agent side that this is a short sale and it can take a while for an approval or rejection, what I hate is that they don't give any follow up and every time that you call the short sales department tell you one thing or different story, that's not right and they need to do something to really give the right answers. They don't do appraisals because it's not cost effective for them, but the reality? All parties could avoid hassles with appraisals instead of BPOs from inexperienced realtors who wanna be BPO experts. Thanks for your comments, always appreciated.

Lori, # 25
That's our aim!, join forces and give complains to improve bank of America service and we all can work much better and give really results for a win / win transaction. Yes, sometimes you can close transactions, the problem is go again with the same customer service is really bad and short sales employees are not trained properly to handle these transactions and give you different answers., thanks for your input it's always appreciated !

Tom #26,
Right!, but lenders can give a better service, follows up with a system that really works and a better personnel, for instance:  why personnel give just a little foreclosure postponements extensions when they know ahead that they are so busy and overwhelmed with many files? This is not our fault and if these are not theirs then why just give too short  foreclosure postponement sale dates? When they know ahead that this transactions will take forever for an answer these days and with the system that they are using right now.  Thanks for your input ! J BTW, funny Bankrupt America !


Carole # 27
I agree with you, I don't think that they listen enough to try to get solutions for our requests and bad experience, I'm working with Bank of America to get a solution of the whole problem, I will keep you all posted about this.

Weichert # 28,
No Offense, We are not disparaging service providers here, we are just telling the truth and alerting more buyers, sellers and realtors that we are here to get share experiences,  help  and solve, If you have not read before past comments some are suggesting to present this to NAR, Senator(s) and the Congress including CEO Bank of America Dept, so they can see that we are not joking about the bad service and employees training, it's not a matter of experience, because you are talking about that and you have closed Bank of America short sale transactions it does not mean that you have had great customer service or you had qualified personnel, it's not a matter of get along with lenders, it's a matter that they need to provide service, we expect respect and appreciation of our work,  approve a transaction or not, lenders and servicers have to handle this amount of short sales and give a solution fast foreclosure something why wait since September and approve it once and play with our time?  That's BOA personnel ineptitude and the fault our work, I know very well the cryptic  www.equator.com system and we have included done the proper follow up, if people read your comments, you are the only one stating this, I'm not talking about inexperience realtors or people who does not have a clue doing short sales, I have closed many other short sale transactions and customer service has not been like this before I see your point of view , you can tell this to someone who has not closed short sales before, Successful short sale closings with BOA does not mean a nightmare that you have go past through their system, we don't get over pay for it, do we? J  thanks for your comments even when not all people appreciate them that's your perspective and just we have to respect but not agree with it.  

Garth #29
I agree with you, that's the reason that we are doing this., thanks for your comments / inputs, always appreciated!

Baker. #30
Mr. Baker I totally agree with you Sir and also I love your signature and your picture that you have there, thanks for commenting and keep the good work ! J

Laraine # 31
That was a good one J very good, thanks for commenting!, we will be sharing more experiences soon, keep the good work !

Ryan #32
Thanks for sharing your experience from Chase we need to address all issues and present it to high level decision's makers.

Richard #33
Hahaha your are funny !  I believe you everything that you wrote ! good for you, thanks for sharing this.

Harvey 34,
Bank of America is the worst for now in the list in my experience., thanks for sharing your experience and commenting on this.

Dawn #35,
I 1000% agree with you, we can say awesome things of Bank of America if BOA give us chances to say good things, but what are the things left over? Bad things to say, and We are not alone, check all comments and you can see that is not only me, thanks for sharing your info, I already posted it above.

Cameron # 36
Total agree with your statement! this was followed religiously, but no one seemed to care about it!

Cameron #37
I total agree with you , thanks for all comments ! J

Sajy #38,
I don't blame you for now J you are very smart ! thanks for your comments, smart choice ! haha J


David #42,
Not good to read that but that is true, no enough experienced personnel to handle all transactions, thanks for commenting your story.

Richie #44,
What a BOFA day I'm having ! LOL  that's what I really want to say when I'm thinking to submit transactions with BOA eh? J thanks for all your support, suggestions and comments, I will keep updating this so we can make difference and give a solution, if the CEO wants to have people who are responsible, giving a good customer service and treat all transactions equally with a good supervision process, they should be hiring us to make them life easier J.

Kerry #45
One person tells you one thing and other tells you a different thing @ Bank of America, that's the reason that they are worried to do everything by email, because they are afraid to get sued if all people are telling you different stories,  we can record conversations letting them know that we are going to use this as a process to keep all information safe.  Thanks for the support, we will see what's the best option to make Bank of America listen to our requests.

Christine # 46
Hopefully in the near future, but right now it's still a mess, the personnel handling the rejections and approvals of documents are not doing the right work there, when  personnel rejects something they don't say at least a clue what they really need, just reason "other"  J  thanks for commenting.

Virginia #48,  
he is funny eh ? J but it happens ! thanks for your comment!

Christianne 49,
You have been lucky, different experiences dealing with different personnel, the key is to have the right personnel on your hands, if you are lucky you get it, if not you get a bad personnel heading you to fail.

Greater # 50
That's another option, the problem here is that we need to deal with it and we need to have a solution for all our problems with Bank of America.

Barbarajo # 52
Well did she blame you ? it wasn't your fault ! J  just you were doing your realtor work, thanks for commenting and giving your suggestions.

Karen #53
I don't have a clue, but we really want to share what is happening and that something needs to be fixed soon or bank of America will have huge more complaints and instead to take so long to give an answer for a short sale they will be overwhelmed with many unhappy realtors, sellers buyers.

Jeani #54,
When we work with bank of America we need to be mentally prepared to not suffer a hard attack J thanks for your comments,

Lanre #55,
Hope that high level personnel give us solutions for all our councerns addressed here, so we can have a different bank of America.

Geoff #56,
I don't blame you J thanks for commenting.

Jennifer # 57
Thanks Jennifer I appreciate all your support and your comments.

Frank & Sharon, #59
Ohh Yea, we can close them, but the main issue here is that they give us a miserable life with their personnel in many departments.

Dawn # 60,
I believe that they read you, because someone called me from the CEO department, lets see if this wonderful lady makes understand the whole problem here. I will keep you posted, thanks for your input.

George #61,
True, I would not do it George, first of all it is to protect your client and I will be more than glad to do it if you have something in writing, good sharing, keep the good work George thanks for your comments !

Damon #62,
Well if there are many people who is experiencing problems like these of course that they have to help us. Lets see if they listen !

Roland # 65,
Well if the help of all of you we can make difference to make a better BOA, BOA need to listen us !

Barb # 66,
9 months ?  fore a foreclosure?  That's what I'm telling, see ? I was lucky that it took less for a foreclosure after my first approval in written thanks for your comments.

Carla 67,
haha  well I don't know but we need to fix this, don't we?  Thanks for your comments.

Wayne # 68
True ! J thanks for your input !

Jenna #69,
Are they starting to apply about the FDIC ? maybe that's why ! thanks for your comments,

Tricia #70,
Let me post it !  and thanks for the input, I will follow it and join the force !

Kerry # 71
Kerry  Join to   Short Sales Superstars   that's a good website to discuss issues and address problems about this.  Request also that they do BPO because your findings are completely different you can send your comps and market analysis, hope that this helps for you, let me know, sorry for delays but many comments to answer.

Russell, #72
I don't blame you, many of them, hope that BOA fixes that soon ! thanks for sharing your comments!

Self Storage # 73
Bad to read this, thanks for sharing this comment!

Erica # 76
BOA did it again ! J thanks for your comments, sometimes it's very crazy to deal with Bank of America.

Pat # 78
Hopw that they get better so we can work for good ! J  thanks for your comments

Jennifer # 79
Thanks I will read it ! and share with you.

Weichert #Deleted,   I don't appreciate your sarcasm to all fellow realtors if you don't have something good to write about your bad experiences and how you fixed them, then please abstent to write here. Thank you.

Nick,
Hey ! I know that you were just giving your point of view and I really appreciate it, we are just desperated that someone put end to this bad service that BOA is giving us, it will help all of us who are trying to help buyers, sellers and Realtors as well. thanks for checking out the rest of the comments.