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19 Comments on It's not the Equator system, it's Bank of America.
Hello Karen and Vegas Bob "HATES" Bank of America ...
VB
BOA don't care about customers, BOA cares about their bottom line. I avoid them like the plague.
Bank of America is the most corrupt, vile, evil puke infested entity ever to inhabit the earth. That's how MILLIONS of Americans feel about them.
The BofA are just exactly what they appear to be, crooks. And crooks don't care to hear about any hardship stories or tales of woe.
Remember, they're crooks. With bailouts paid with our tax dollars, and big fat bonuses, also subsidized by our tax dollars.
Since not one of these many crooks has been prosecuted, maybe I can get a job with BofA. Seems like a good deal.
Karen, I had buyers that waited 13 months on a short sale. 13 months. A big bank ended up foreclosing. Guess what, it sold later for less. Go figure!
Karen, BOA is hellish, simply hellish to deal with. I vented about them in my blog: Oh no, Not another new negotiator Bank of America!!! Please make it stop! I feel your pain.
BofA has certainly chased away a lot of business. They seem to be working at chasing more of it away.
I no longer bank of BofA . . . I will never in my lifetime. I don't know why people still feed the beast.
Stringing out a seller over $1,000 . . . who is broke, and just trying to keep a little dignity. They're pigs.
Karen, BoA stands for "Bend Over America." I really hope when this blows over, if it ever does, that anyone and everyone will not get another mortgage loan, another credit card, or another bank account with them ever!!! I totally understand your frustration. I have a client with a BoA loan now, and we're waiting and waiting for something, anything, please. I have two short sales after this one and have approval on both. What the ef is their problem? I'm with ya and feel your pain.
Karen, I certainly feel your pain. I have no idea to what end this will come. It makes me sick, totally sick to my stomach.
Karen- BoA has the worst reputation in the business when it comes to short sales. It is a reputation well earned. It certainly accounts for the five year inventory of foreclosures they have so skillfully failed to negotiate as short sales. Waiting in endless perpetuity for an answer here too; meanwhile have closed several other short sale deals with other lenders within the same time frames as this deal has sat and stagnated. Until the rules change and time frames become mandated with fines for non compliance; the chances of seeing Boa reform are slim to none.
Robert, Roger, J.A, and Jon,
I think we are all on the same page...I just moved my money from them to another bank...
Vickie,
I closed one after a year and 10 days as a S/S...and it was a multi-million dollar listing...
Jeana and Charles - they are horrible.
Carla, No scruples in that bank...anyone know who the President is? of BOA?
Pamela, They should give back the plethora of money Obama gave them in the bail out!!!
Andrea, Whoever is running BOA is as corrupt as the President...he gave them money and they are taking even more.
St. Cloud - I know, you are so right!
I have worked with a lot of banks. Bank of America has been the worst by far. In my opinion it is the fault of the executives at BAC making decsisions that protect themselves and hurt the customer and their lower level employees.
Cindy,
It is not Equator...I've talked to the CEO...He actually contacted me, b/c of a previous blog I wrote about BOA...It's the fact that BOA does not train their employees on how to use the system.
They are a disaster...I took my money out of their bank in January.
Oh goodness, Karen - I'm jumping into this with a listing today - and after reading this I'm sick - But impressed that they're watching our blogs and responding to you - amazing what posts can do!
Im looking for help with a short sale. I have been trying to purchase property that is being held in the Bank of America Equator system. During my attempt, I have had 3 different closers and I am now at a point where the seller realtor had to enter a "hard decline" or "soft decline" to continue the transaction. It has been a nightmare of "should be through the system in 2 weeks" for about 6 months now.
The property is in Texas and I have been told that there is not a person to contact about this situation. In the meantime my pre-approval, and property appraisal that I paid, are getting ready to expire and I have been told I MAY have to start over AND the last time I went by the property there was a note on the door that states BoA is going to change the locks soon because they are planning to foreclose.
Any suggestions?
I bid on a short sale in Cary, IL.,well and septic, no appliances, bad windows, no air conditioning, bad electric, old roof, carpet smells like dog pee, grass a foot tall, and a broken garage door. I loved the property (location) and decided I was willing to fix everything before I moved my daughters in. About myself, 40 something, blue collar worker, saved a lot of money to put down, was pre approved before looking, I did everything right. I bid 155k it was listed at 175k the bid was accepted and signed by everyone, Both Realtors thought it was a good sale because I was right where it was appraised at. I received a letter from Caitlin Richards from Equator that I needed 50k more. It is going to be re listed at 200k. How can the value of a property go up in the five months I have been waiting? Did greedy Bank of America think because I was willing to pay 155k maybe they could squeeze out a little more? How can it be legal for a bank to dump the buyer then raise the price higher than it was listed at to begin with? It is banks and companies like Equator that have messed up our economy. The house is only 1063 sq feet. when looking online these companies are not located in the state of Illinois, they have no idea what happens to a house that sits vacant over the winter: broken pipes, more people walking through this house, liability. mls #08072780 Can anyone please tell me what happened with this house and if its legal to raise the asking price?