Something Going On with Bank of America Short Sales?

By
Real Estate Broker/Owner 01178814

In the recent weeks, I have noticed that BofA is behaving strangely.  Not that they didn't before.  All my short sales with them have overdue tasks by their negotiators and they are postponing sales 15 days at a time.  I've been working with BofA for awhile and this is the first time that I've seen every one of my 10 short sales that I'm negotiating have over due tasks. 

I've learned that anytime things are bizarre and strange, it means I am missing information.  Anyone have any information?  

Comments (2)

Vienna Bello
Liberty Realty, LLC - Jersey City, NJ
Real Estate Sales, Rentals & Consulting, GRI, SFR

YES!  I definitely think something is fishy with BofA.. I just posted a blog about my experience with them..

http://activerain.com/blogsview/1687073/another-one-bites-the-dust 

If you type Bank of America in ActiveRains search engine I'm sure you'll find dozens, maybe even hundreds of horror stories from other agents all over the country complaining about BofA.

I wish you lots of luck and patience with this transaction. 

 ~ Vienna

 

Jul 23, 2010 04:35 AM
Ed Silva, 203-206-0754
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

Mary, they are by far the slowest and most uncooperative of the banks for short sales. Part of the problem could be the acquisition of Countrywide, who had so many bad loans to start and that burden was shifted to BOA. Good Lcuk

Jul 23, 2010 04:51 AM