My Personal Bank of America Horror Story

By
Real Estate Agent with Re/Max Premier Realty, Inc.

With so many borrowers having so many problems with their mortgage modifications and short sales, and REALTORS going bald and on Prozac trying to deal with the mess, I made a youtube video to tell my story.

 

 

I also got some advice from a real estate attorney to help others with the same problems:

  • Always get the name and employee number of the person you are talking with on the phone AND their supervisor's name and employee number.
  • Write down the time and date. (You may need your phone records later)
  • Repeat the information back to them that you heard them say to you.
  • Tell them you are going to stay on the phone while they type the infomration into the computer so you know they are inputting the information.
  • Tell them after they input the information that you want to hold for the supervisor.

This is very good advice.  I wish I had done this.  I hope it helps many of you. 

 

The Washington Post published an article this week highlighting how Bank of America is trailing behind some other large banks in their mortgage modification numbers.

 

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Topic:
Lending / Financial
Tags:
bank of america
short sales
loan modification
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Rainmaker
806,986
Cindy Edwards
RE/MAX Checkmate - Johnson City, TN
CRS, GRI, PMN - Northeast Tennessee - 423-677-6677

Thanks for this.  Good tips for all of us.

Oct 15, 2009 02:08 AM #1
Ambassador
1,551,795
Karen Fiddler, Broker/Owner
Karen Parsons-Fiddler, Broker 949-510-2395 - Mission Viejo, CA
Orange County & Lake Arrowhead, CA (949)510-2395

I have had nothing but problems with Bank of American...the trick with them is to find an old Countrywide rep who is now with B of A and get them to take control of the deal....then you have accountability

Oct 15, 2009 02:10 AM #2
Rainmaker
288,237
Cherry Wings Realty
Cherry Wings Realty - Traverse City, MI
Your Traverse City Michigan Realtor

Nancy:

Good advice, these are challenging times for everyone in our industry.

Oct 15, 2009 02:10 AM #3
Rainmaker
217,571
Richard Shuman
The Only B.S. I Have is from the University of Massachusetts - Lake Mary, FL
Real Estate Broker - Orlando Area - Love Referrals
Unfortunately, as you well know, your story is not unique. I have no idea who is the ultimate person or entity responsible for Bank of America's decision making, or lack there of; but whoever it is, they are most certainly NOT doing there job. My thoughts are with those poor souls whose future lies in Bank of America's hands.
Oct 15, 2009 02:17 AM #4
Rainer
23,227
Nancy Deichman
Re/Max Premier Realty, Inc. - Ocala, FL
CDPE
Thank you for your comments. Please respond also by logging in to Youtube and posting your comments and rate the video., Even better make your own video and we can link together. Realtors are a strong and vital group. Tell your story. Name the names of the banks that are causing these problems. Expose them for what they are really doing (or not doing). Make it public so the American dream does not die.
Oct 15, 2009 02:21 AM #5
Rainmaker
2,548,076
Rebecca Gaujot, RealtorĀ®
Vision Quest Realty - Lewisburg, WV
Lewisburg WV, the go to agent for all real estate

Nancy, you did an outstanding job in explaining your horror story,  It is indeed sad.

Oct 15, 2009 02:26 AM #6
Rainer
23,227
Nancy Deichman
Re/Max Premier Realty, Inc. - Ocala, FL
CDPE
There are many sad stories of homeowners being abused by Bank of America and other large banks that profited from the lack of regulation and now profit from the huge mess they created. We need to unite as a force and demand that our congressmen and women enact rules that hold these banks accountable to the American public. First they receive our tax dollars and then they rob us of our homes. All the while, their stock prices are going back up, they are increasing their fees to the consumer, and the investor behind the bank who is simply servicing the note is also getting the shaft by the lack of problem solving on the short sale or modification. Please email your congressmen and women and demand that something be done in Washington.
Oct 15, 2009 06:12 PM #7
Rainer
9,771
Keena Frye
GoHomeConnect.com Realty - Southfield, MI
CPDE

Great Post Nancy,

I have several short sales with Bank of America right now and have had many problems with them. This is good advise to make Bank of America accountable, I don't think these people are being trained properly. I don't think the supervisors know what they are doing. Hopefully things will get better.

Nov 03, 2009 04:21 AM #8
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Rainer
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Nancy Deichman

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