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Friends Don't Let Friends Do Business with Bank of America
Warning: This Post Has No Warm and Fuzzies Read at Your Own Risk!
Bank of America was once the "go-to" bank of choice for most lenders because they were efficient and easy to deal with. Bottom line they got the job done.
Those days have long past!
As a real estate broker I have nothing but unbelievable tales of woe, every time I have the misfortune of dealing with Bank of America. The system is laden with bureaucratic weight and nothing they do is based on common sense or in the best interest of the consumer.
Recently I had a buyer terminate a contract for a short sale she was purchasing after waiting over 5 months for an acceptance. She was a strong, well-qualified buyer purchasing a home that needed extensive work. At one point she was told her offer was accepted by Bank of America so she spent money having the home inspected. The inspector told us this was home was in the worst condition he had every seen. Still the buyer was fine with the condition of the home and wanted to proceed.
After waiting yet another month, we were told by the listing agent that Bank of American ... more

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