I just had to reblog this. I hope it will get Bank of America's attention. They've been talking and talking and talking ... how much easier they are making the short sale process - full page ads in the newspaper, help via twitter etc. But the reality is much different.
Wondering why short sales are taking so long? This blog will give you an idea .. courtesy of Jon Zolsky, Realtor®/broker in Daytona Beach, FL. There are exceptions to the rule of course, those are not likely to involve BofA however ... Jon's story is almost comical... if it weren't so damn pathetic. Bank of America are you listening?
I've disabled comments. If you'd like to chime in please visit Jon's blog.
We have a short sale with BoA. The Seller lost a job, had to leave town. Should have been an easy short sale, the selling price is very close to what she owes, so what could be a problem?
Put the package together, submitted to the Lender. Does not show anywhere. Do it again, no trace of it on Equator again… and again.
Calling BoA and they say there is something there, and it will not work until the Seller calls them directly.
OK, the Seller calls, and after verifying everything and kicking her from one person to another, they tell her that they can’t talk to her because there is something legal.
So, what to do? Oh, let the attorney call them.
OK, the attorney calls them, and they say they can’t discuss it with the attorney. They said someone would call the Seller within 72 hours.
The attorney’s office calls CS, they say that there is some flag there, but promise to expedite and remove it.
Time goes by, nothing happens.
Then the Seller gets a letter that she needs to call them and update her financial information.
She calls them, spends 35 minutes being kicked from one person to another… until they tell her that they can’t talk to her, there is some flag on the freaking file, and they are not at liberty to discuss it.
They tell her that someone would call her within 72 hours and explain everything.
Somebody calls her and tells her that they can’t talk to her because there is some flag.
Why can’t they talk to her? Oh, it is because they do not have the authorization.
What authorization? From whom?
- From the Seller.
They need the written authorization from the Seller allowing them to talk ... to the Seller?
- You are taking to the Seller, why on earth should I give you an authorization to talk … to me???
Folks, if you think I am kidding, you are wrong. I am dead serious.
Yes, we helped her to fax them the authorization to speak … to her.
I guess this is called CYA.
I assume what represents “A” in CYA is the most important part of their body. Looks like they are using it for thinking.
A Short Sale From the Wonderland...
P.S. The Seller is not an immigrant that can easily be confused. She is a young American sharp and smart lady, who has no problem with English.