bank of america: Amazing...Some Reps in Congress Actually Understand the Housing Crisis
- 07/07/10 07:51 AM
I watched a fantastic webcast of a House committee meeting where several bank and servicing company CEOs testified about their performance on HAMP loan modifications and other foreclosure prevention programs, including short sales. The entire webcast is about 2 hours but it's worth watching. I have to admit these Congressional House members knew what they are talking about and actually understand how horrible the process of working with these banks and servicing companies is for both homeowners and Realtors. They also tried to find answers on how to improve the pathetic HAMP program and come up with a streamlined process. I was impressed … (2 comments)
bank of america: $75 Billion Fed Funding for Making Home Affordable BUT Nobody Answers the Phone
- 12/04/09 03:22 AM
I submitted a new short sale offer for one of my listings to Bank of America. Bank of America rejected the last offer without it ever getting past the SPO review. It's fancy terminology when you fax your short sale package and workers in India scan the documents, a BPO is done and several weeks go by, a computer simply takes the offer price and the BPO price and either moves it to the next level of waiting or rejects it. At this point, no human has ever looked at a single page of the entire 50 page short sale package I … (1 comments)
I watched a fantastic webcast of a House committee meeting where several bank and servicing company CEOs testified about their performance on HAMP loan modifications and other foreclosure prevention programs, including short sales. The entire webcast is about 2 hours but it's worth watching. I have to admit these Congressional House members knew what they are talking about and actually understand how horrible the process of working with these banks and servicing companies is for both homeowners and Realtors. They also tried to find answers on how to improve the pathetic HAMP program and come up with a streamlined process. I was impressed … (2 comments)
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