BANK OF AMERICA.....needs new leadership at the top

As you travel through life, often we are asked or forced to choose a side on something. Politics, religion, abortion, gay rights, taxes, and other similar subjects that require a side also come with a argument. Then, you may find yourself having to defend or accede your position...

I have had 3 plus years to study Bank of America under pressure handle their policies, procedures and interactions with the public and the government regulators, Wall Street and investors. I have nothing good to say about this institution. In fact, it should no longer be allowed to use the name "America" in its title.

I have handled a clients recent loan modification with this bank that ended in disaster for the borrowers from following this banks instructions. It started out innocently enough with their advice to default, ruin my clients credit so that they can help them. The gall and borderline fraud to make  promises to re-negotiate-and not do so while receiving "bail-out assistance is almost unbearable. I asked someone (face to face) high up in the Treasury Department why they gave the bail-out money without conditions to help the American people. Their answer was no one thought of it.

THIS JUST IN....BANK OF AMERICA STILL DYSFUNCTIONAL

They have consistently misrepresented, mishandled and misdirected all communications with their customers, borrowers, employees and supervisors of the government. They are embroiled in lawsuits and controversy and remain there with some of the worst leadership you can imagine being the insult. The injury is that their management is extremely well paid for their poor performance

POINT OF THE POST

I have two current situations with this bank. One involves them giving and demanding that their instructions be followed during a loan modification only having it end in a trustee sale and eviction for some very decent people. Promises were made and never kept. After being evicted without notice and contrary to guarantees and promises, several months later (yesterday) I receive a letter saying the loan mode is rejected because they are not the first deed of trust. They however will keep trying and resubmit. What they don't know is that they are no longer the first because they foreclosed. My clients are long gone. THEY WANT TO RESUBMIT..?

SHORT SALE HELL

In my other scenario, it is almost impossible to get an approval to a on-going short sale that has the buyers, agents, loan reps and appraisers all worried and concerned because of the expiration of the work that was done. Add to the fact that falling Real Estate prices is casting doubt on every-ones work and you have utter chaos.

BUSINESS MODEL IS LACKING

Please understand that calling up someone for hours, being disconnected or being put on hold, then being told things that make no sense and when you apply any professionalism to the situation, being told that you are one of thousands that they are working on and no more can be done...... leaves one OUTRAGED and wondering about the outcome.

THIS BANK ANSWERS TO NO ONE

This entity is like a wild dog roaming the country side biting, chasing, and injuring everyone it comes in contact with. We need nothing less than a dog-catcher to reign it in.

I will never do business with this bank again. They have completely earned this statement....