Over Promise and Under Deliver - New BOA Short Sale Motto?

By
Real Estate Broker/Owner with Heart Realty Group, Inc.. IL-471.002355

It's been over a year of delays, delays and more delays with my Bank of America FHA short sales but the misery was almost over when I finally got a verbal approval early last week.  No later than Monday will you have the short sale approval letter.  Well Monday came and went and no letter!

Calendar

Sent negotiator an email and no response this morning so I called.  Unable to reach her I called her supervisor who was kind enough to conference her in and drop off the call.  Well, the latest is that so sorry but not its 3-5 days!  Oh, we are working on getting the negotiator to be able to issue the short sale approval letter but your file is not iincluded.  Probably because its a year old!

I am not surprised by this.  Unlike many of its competitors it appears that BOA still has not figured out how to streamline the process.  Hopefully, that will change now that they are suppose to be putting FHA short sales on Equator...Something that I was told about last year at one of the BoA seminars when they were touting about how they wanted us to be their preferred partners. 

Postman

All I can say is,  if this is how they treat preferred partners imagine how they treat everyone else!  So here's to another case of over promising and under delivering from one of the Too Big to Fail but Not Too Greedy to Get a Handout Banks.  Glad that I stopped holding my breath waiting for the final approval letter.

Posted by

Evelyn Santiago

Managing Broker - 630-251-0059

Heart Realty Group, Inc.

We are Passionate About Real Estate!

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Topic:
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Location:
Illinois
Groups:
Running a Brokerage
short sale specialists
Tags:
bank of america
short sales
poor customer service
fha short sales
poor bank performance

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Rainmaker
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Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

Evelyn:  Just read an article regarding this matter a few short minutes ago.  Seems that the CFPB receives the most complaints about BofA than any other Lender by a fairly high margin.  I suppose that won't surprise you ...

Hope it all turns out well ... quickly ...

Gene

Apr 02, 2013 08:08 AM #1
Rainmaker
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Graziella Bruner
BRUNER REALTY LLC - Wayne, MI
Broker/Owner - Serving Wayne & Oakland County
I pray it works out, but in today's dealing with short sale, we need a lot of prayer and patience. Maybe one day the banks will wake up realize that their in business to help people, not make their lives miserable.
Apr 21, 2013 09:27 AM #2
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Rainmaker
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Evelyn Santiago, Managing Broker Heart Realty Group, Inc.

Passionate About Real Estate & Our Clients!
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