Bank of America, ARE YOU LISTENING TO YOURSELF???

Because you sure sound crazy to me!

I wrote about this on Short Sale Specialist Network, but I thought it should be posted here in more detail.

I certainly hope BOA is reading this one. I have sold this property FOUR times now. (Update: FIVE. I have a new offer.)

We started as a traditional sale in 2010. The owner had been faithful, her mortgage was paid down, she had been there a long time. Pretty hard to find an equity seller in our market in this price range in 2010. We got a wonderful buyer and 1st time we sold it for $68,000, inspections done and waiting to close - then learned no financing was possible because condo association is failing. The lender didn't even know. Very discouraging for everyone involved.

Then we sold it for $25,000 - and it was approved. It took months and went nowhere. I finally contacted BOA on twitter, and they got the file moving. We eventually got our approval. BUT when were supposed to close, it flooded. Buyer walked.

Then we sold it for $25,000 AGAIN.

And it flooded. AGAIN.

1000 year flooding. Take a look at photos here.

It really should not have taken long to approve the very same price, wouldn't you think? - and BOA took so long to RE-APPROVE it that on the day we FINALLY got re-approved for the same amount, it flooded AGAIN. This time it was over four feet of flooding and made the front page of the local newspaper.

Cars were covered. A building next door collapsed and was condemned and torn down. Of course, the buyer walked.

Somehow we got an offer on this property after all that for $18,000. We were grateful!

Now the condo association is doing worse than ever,

many owners are abandoning their units since there is no solution for the flooding,

our unit is now filled with mold, furnace and AC and hot water heater are ruined,

and unbelievably, BOA wants...

FORTY THOUSAND DOLLARS

for this condo that has been approved TWICE by them at $25,000 when it was in better condition, before the thousand year floods.

So my question is...

Bank of America, ARE YOU LISTENING TO YOURSELF???