Since last December I have worked daily to try to get a short sale through with Bank of America as the first lender. Just moments ago I learned the title of the property has been returned to the investor and the bank no longer even has it. It is over. Before the person from the office of the President of Bank of America hung up she did say, "sorry."
What does sorry mean? I feel today it means I will get you off my case by saying sorry. There is no remorse or feeling of sadness by the part of the person who says sorry. Will that person walk into the office of the President of Bank of America and give him an ear full of how the bank failed these people? No. Will anyone above this person even be aware of how many times the bank and its awkward systems for short sales have failed people? No. If we utter the word sorry, then we had better be prepared to do something to right that wrong so we don't have to keep saying, sorry.
I tell all of you who read my blog, the system of short sales is really broken and you need to keep sending the message to all that will listen that American is being failed. Sorry will not make this issue go away. Real estate will continue to go down until the system gets going in the right direction.
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