"Living in the Real World" ~ Lola's Log

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

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...

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Regards,
Loretta J. Buckner
Your "Real" Estate Consultant for Life
www.RealWorldPropertiesInc.com
727-656-6206

Comment balloon 12 commentsLoretta Buckner • August 31 2010 02:08PM

Comments

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

Posted by Carla Muss-Jacobs, RETIRED (RETIRED / State License is Inactive) over 9 years ago

Can't wait for the dance!

Posted by Paul Lesieur (203kloanmn) over 9 years ago

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)?

Posted by Loretta Buckner, Your GREEN Real Estate Consultant For Life! (Real World Properties, Inc.| Your Real Estate Consultant for Life) over 9 years ago

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

Posted by Lori Bowers, The Lori Bowers Group over 9 years ago

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

Posted by Loretta Buckner, Your GREEN Real Estate Consultant For Life! (Real World Properties, Inc.| Your Real Estate Consultant for Life) over 9 years ago

I also call them DoA

Posted by Carla Muss-Jacobs, RETIRED (RETIRED / State License is Inactive) over 9 years ago

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

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

Posted by Loretta Buckner, Your GREEN Real Estate Consultant For Life! (Real World Properties, Inc.| Your Real Estate Consultant for Life) over 9 years ago

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.........

Posted by Jimmy Katz, "REAL Solutions for Real Estate!" (Sanders Team of Realty ONE Group) over 9 years ago

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

Posted by Loretta Buckner, Your GREEN Real Estate Consultant For Life! (Real World Properties, Inc.| Your Real Estate Consultant for Life) over 9 years ago

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

Posted by Loretta Buckner, Your GREEN Real Estate Consultant For Life! (Real World Properties, Inc.| Your Real Estate Consultant for Life) over 9 years ago

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

Posted by Loretta Buckner, Your GREEN Real Estate Consultant For Life! (Real World Properties, Inc.| Your Real Estate Consultant for Life) over 9 years ago

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...

Posted by Loretta Buckner, Your GREEN Real Estate Consultant For Life! (Real World Properties, Inc.| Your Real Estate Consultant for Life) over 9 years ago

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