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My "Bank of America Hate Song" (Dance to Follow...)

By
Real Estate Broker/Owner with Real World Properties, Inc.| Your Real Estate Consultant for Life

Nine Months, Three Days and Twenty-one Hours

Is the Time it Takes

For Me to Finally

BLOW!!

(but at least I try to do it with a smile!!)

(Open THIS window to hear the original Fight Song for Notre Dame--it's a classic!)

 

 

Here's the story:
  • Thinking we would expedite the process of short sale approval, my buyer went to the same bank for his loan that was also approving the short sale (guess who).
  • Six months later we got our short sale approval.
  • The loan officer processing the loan application took two weeks off, leaving no one in charge of the file.
  • ...and then came back
  • and took another week and a half off.
  • Her supervisor didn't seem to care much that we were supposed to be closing and the loan application hadn't been touched;
  • Two months after that we are still getting bounced around, being told "more docs more docs more docs"
  • When the buyer had multi-faxed everything requested.
  • We've gotten two extensions to close the file from the 3rd party lender (BofA);
  • And three weeks ago were told the file was going into underwriting...yet
  • TODAY, when the last extension has now expired we've been told that yet again!

maybe this will close sometime this year...

Comments(12)

Carla Muss-Jacobs, RETIRED
RETIRED / State License is Inactive - Portland, OR

I don't know the tune so I really couldn't hum along, but the words were great!!  And I like the message!!

Aug 31, 2010 07:12 AM
Paul Lesieur
203kloanmn - North Oaks, MN

Can't wait for the dance!

Aug 31, 2010 07:14 AM
Loretta Buckner
Real World Properties, Inc.| Your Real Estate Consultant for Life - Palm Harbor, FL
Your GREEN Real Estate Consultant For Life!

I guess I'll call it "The BofA Shuffle"?  he he he

So, what other experieinces can we share about MY FAVORITE Servicer (who should be sued for false advertising even USING that term)?

Aug 31, 2010 07:17 AM
Lori Bowers
La Quinta, CA
The Lori Bowers Group

My client called Bank of America - the gangsters of America. I thought that was funny and hopefully not true?

Aug 31, 2010 07:46 AM
Loretta Buckner
Real World Properties, Inc.| Your Real Estate Consultant for Life - Palm Harbor, FL
Your GREEN Real Estate Consultant For Life!

ya know, I don't really think that's so far off the mark, unfortunately!

Aug 31, 2010 07:49 AM
Carla Muss-Jacobs, RETIRED
RETIRED / State License is Inactive - Portland, OR

I also call them DoA

Aug 31, 2010 07:58 AM
Loretta Buckner
Real World Properties, Inc.| Your Real Estate Consultant for Life - Palm Harbor, FL
Your GREEN Real Estate Consultant For Life!

that's great!  I should add that somewhere...

Carla and Lori--how do you get those nifty post/outside blog etc. icons?

Aug 31, 2010 08:14 AM
Jimmy Katz
Wynd Realty & Katz Realty Group - Alpharetta, GA
"REAL Solutions for Real Estate!"

I just closed a deal on friday with a BOA branch manager.  BOA turned him down for the loan, and he got it closed elsewhere!  If they treat their own managers like that.........

Aug 31, 2010 08:17 AM
Loretta Buckner
Real World Properties, Inc.| Your Real Estate Consultant for Life - Palm Harbor, FL
Your GREEN Real Estate Consultant For Life!

OMG--I guess that's one for the "income instability" category?

Aug 31, 2010 08:45 AM
Loretta Buckner
Real World Properties, Inc.| Your Real Estate Consultant for Life - Palm Harbor, FL
Your GREEN Real Estate Consultant For Life!

comment via email from my title company (Anclote Title):

We just had boa state they would not approve a buyers loan until he had put a new roof on the sellers short sale house (a boa short sale)  then they would submit him for approval.  Seller had no money to pay,  roofer could not pull permits without sellers signature, so required he was paid in full before starting work,  buyer was not guaranteed a loan approval after paying for the new roof.  Guess what, of course it did not close,  did boa just want to foreclose on a house with a new roof?

 

Julie T. Holt

Aug 31, 2010 09:04 AM
Loretta Buckner
Real World Properties, Inc.| Your Real Estate Consultant for Life - Palm Harbor, FL
Your GREEN Real Estate Consultant For Life!

latest update:  the processor broke every rule in the book about discrimination--asking the loan applicant "Are you disabled?"

Sep 02, 2010 08:28 AM
Loretta Buckner
Real World Properties, Inc.| Your Real Estate Consultant for Life - Palm Harbor, FL
Your GREEN Real Estate Consultant For Life!

It's official--after another 2 weeks of foot-dragging, saying file was being 'rushed' through underwriting--our approval was expired/denied and the process has to start all over again!  I just found a whiole bunch of "I Hate BofA" sites...think I'm going to pay a visit...

Sep 09, 2010 04:15 AM