Central Florida Short Sales: Bank of America Short Sales Require More Than Just Waiting Around.

Congrats on the eventual success - shame you had to go to those lengths to get attention.

I have a short sale with Bank of America and the same has been done to our file; I guess it is time to take another plan. Thanks for your post.

Short sales with Bank of America?  It would be interesting to hear how they respond.  I have been shying away from short sales because it just has so many obstacles in it's path.  I'm looking forward to banks streamlining to make this process move along better.  Please post the response.  Thanks

Reserved for TLW

Frank, Not only have they responded but I have a direct line to a new experienced negotiator and we are sorting out the final details right now.

I received calls from 4 BofA people since I sent this email.

There was actually a buyer on our website at www.ShortSaleSuperStars.com that inspired me to take this route and it worked. Of course I wouldn't do it on every file. Just as a last resort.

BB - God bless you for your patience and persistence....and your bad-assness when warranted!  Keep us posted!!

Ugh!  So glad that you were able to get their attention.....sounds like a good ending to a long and drawn out ordeal.  About time, huh?

BB - wow - great email that you sent and I am glad they responded. It can so frustrating, but I am glad you got a response.

Should?  I need to stay tuned for the outcome on this one.  Shame it came to this, but you were representing your client and gettin the job done.

Bryant - But you are good!  I am not just saying that because I am co-founder of www.ShortSaleSuperstars.com :)

The BBB?

Bryant,

The BBB has no value unless the member cares! Do you really think B of A cares what people think?

Bill

Hi BB - With Bank of America one thing I have experienced is that just when I get going with one negotiator and send what they ask for, it turns out that I have a new negotiator and the one doesn't forward stuff to the next or something, but at least a new negotiator usually means that the file is moving along toward eventual approval. 

Most of this has been fixed with Equator, since the uploaded docs stay with the file, but when you have to email something, that can be a different story, since the previous negotiator gets it instead of the new one.  I'm glad it looks like your file is nearing approval anyway.

This confirms my practice of not communicating with anyone in a real estate transaction by phone. 

Letter, fax, e-mail, sometime one, two or all three is how to get action.

Lovely.

Not sure which part they took notice off to get off dead center . but the media interview slip could have been the tipping point?

Wow. I still can't believe you have the patience for that. I get snippy when I have to wait on the phone for just a few minutes!

Good work. It makes me boil when the banks can only see $$ and hurt families and children by their incompetence. 

Bryant - Good for you!!  Like Frank, I've been shying from short sales because of a bad experience and they've been just such a pain to deal with.  Thankfully, there is plenty of inventory in the south Florida area that I'n able to do this. 

Broker Bryant, that letter is pure GENIUS.  As a member of your Short Sale Superstars, might you be generous enough to allow us to, "ahem," borrow it?  (don't let Lenn read that!).  Of course, I would change the details to match my own failed short sale-du-jour lol

Actually, I've closed every single short sale I've ever done, except the one with, drum roll please, BANK OF AMERICA.  Of course.

Hi Bryant... WAY TO GO!!!  I continued to be so impressed with your tenacity and efforts on behalf of your clients!

Well done Bryant.  It's a shame that we have to rely to such extremes to just get an answer or some movement from these folks. 

Sometimes getting your problem in front of the right person is all it takes. But, you are right, B of A does have a problem and if they think these problems are going to go away, they are dead wrong. I have a feeling cases like this are exactly why the government will eventually step in. If B of A thought we hounded them, wait until they see what the government will do.

BB, choke another snafu up for Bank of America.

Are they totally incompetent over there?

I am under contract with a foreclosed home with BofA and it is going  really well.

Not so much with Short Sales.

Hello Bryant!!  I'm with you on these BofA files!  Unbelievable!  Hopefully this one goes through for you! 

Hi guys. You know I have actually had approvals and closing on ALL of my BofA short sales. While they are extreme;y slow I really have no major issues with them. I have the right expectations. I'm all about finding solutions and getting deals closed.

I have spoken to many folks at BofA and the main issue is they are just swamped. Did you know they have close to 1,000,000 files they are working on?

The issue with this deal was there is lender placed MI on the 2nd and it's a Freddie Mac loan on the 1st.

So there are 3 entities to deal with. Freddie (1st), private investors (2nd) and MI (2nd). The negotiator that was handling it was confused with the counter we received from MI and instead of trying to get her facts straight closed the file even though it was already approved by Freddie.

I now have direct contact with an awesome senior negotiator and we are working towards making the MI company happy. They are the only hold up.

It just shows that these deals can be worked out as long as all parties involved are communicating.

The seller had to update some info yesterday and hopefully we'll have written approval early next week.

As TLW so aptly puts it, "You wreck me baby". I have one eerily similar. We started in August, and on our fourth buyer, and had to get it removed from sheriff sale once.

The casualty of large monolithic organizations is an accountable individual. Good for you for finding someone who could make a difference. 

Great letter that got their attention. But, why do we have to go to these lengths in the first place? It's like BOA is waiting for that pot of gold that ain't coming! Market value is market value.

The squeaky wheel usually gets the grease, at least your buyer has a Realtor who wont quit on them! I have heard these short sales are a pain in the A _ _ for the very reasons you stipulate.

Congrats on getting it done and getting the person who can make decisions on your side!

 

Me too!  Bank of America has us waiting since 1-18-10 (2nd well qualified buyer).  We have received approval from the SECOND mortgage already.  2 BPO's were done.  This buyer offered more than the asking price, offered a nice down payment, has a mortgage commitment from a lender... I don't understand the hold up. I'm the buyers agent in this transaction.  The listing agent is very hard to get a hold of... so I was beginning to think it was lack of communication on her end with the bank.  But I've been reading a lot of complaints from everyone about Bank of America... so maybe it's both.

Congratulations on sending that letter and getting them off their butts.

~ Vienna

Admirable patience. Gotta be an easier way to make a living than Short Sales. I know they make up a significant % of our market these days but it's just ridiculous. How bout REALTORS go on strike against Bank of America? What would happen then?

I filed a complaint with the OCC, the BBB and the FDIC and copied in all bigwigs...I wish I could say this tactic helped - but I got a near zero response from my executive level negotiator because it is with "the investors". Here is what she said:

"I understand your frustration and apologize for the length of time the process has taken, however at this point the file has been submitted to the investor and we are waiting for them to review the file and render a decision.  This particular investor's turnaround time can take anywhere from 4 to 6 weeks."

You must have better investors than I do. We are at their mercy at this point.

Hi Bryant ~ I'm glad your post has a happy ending.

I was at a presentation this week where an especially flown in for the occasion presenter from BofA walked any realtors that were interested in listening through the problems they're having dealing with short sales. He admitted BofA had problems adjusting to the huge amount of short sales that they have to deal with, but they are working on it. You're right, communication is key to solving the issues. (It always is).

A side note: This presenter also rolled out Equator for us to check out. Do you have any experience with that? Is it just a good idea that's not getting off the ground? Or could it really help long term?

Denise

Well done BB!  If I was the seller of a short sale, I'd want an agent with as much tenacity as you have in my court.   A guy in my office has similar luck going right to the top with one of his deals that he's been working for 7 months.   They got an approval the next day!  This tactic seems to work.

Thanks for an interesting post. So many buyers want the "deal" of a short sale but it is difficult to communicate the struggle they may be - frustrating for all. Hope your deal is resolved soon.

BB,

There is just a huge disconnect between lenders and Real Estate Brokers. Somehow and somewhere down the line the chain was broken. Perhaps it never really existed in the first place. You would think that the two enterprises would have much stronger ties and communication given the business that they are both in.

I am sure that it is not a one way street. Over the years I have had the displeasure of working with some very incompetent agents. Yet I do not choose to throw the Baby out with the bath water after a few isolated incidents.

Lenders have always been notorious in there approach to Real Estate Transactions. It is almost as if they feel that their company alone is doing it right and that everyone else is wrong. That is probably where the problem lies.

I'm glad to see that this deal will close soon.  What patience these buyers must have.  I wonder though why BofA doesn't try to add more "temporary" processors to get through the rubble.  If they truly want to get real estate off these books, can't they find enough qualifed, unemployed folks who would love to work - if even temporary?

Bryant, thank goodness for the final approval...Its about time!  I love the shirt, where can I get one..lol

I didn't even have to think twice about which bank you were talking about! BofA, heavy on the 'F'.  Great job on that letter to the right places.  You should spread those email addresses around.

Bank of America seems to be not worth the hassle so good for you that after all that time you are able to make it work, however this is not always the case.  Most of the problems always seem to be with BofA so I just see any reason to deal with them when there are many others willing to step up and be more helpful.

Bryant, congratulations on shaking up the tree until some fruit fell out!

My guess is that with that price, you're making about $1 an hour.  You should contact the state to file a complaint with BofA for not recieving min. wage.

Way to go Bryant.  Persistency paid off.

We've experienced the Bank of America arrogance...  It is no longer a San Francisco company that A.P. Giannini founded. 

http://en.wikipedia.org/wiki/Bank_of_America

It is a nonolithic bank now.  A friend of mine went recently attended a conference on short sales, he commented on how the head of the short sale center was an arrogant individual.  Surprise, surprise, suprise... Corporate culture is influenced from the top down.  

My personal favorites are: Chase (quick fax processing), SunTrust (straight-up negotiators), Wells Fargo (straight-up negotiators.)  BofA is at the bottom of my list...

Keep up the good work.  I'm working on my seventh short sale and each one has had it's challenges and each one feels like a huge victory for my clients.  Especially my sellers when we get our 'forgiveness of debt' letter instead of a 'deficiency judgement'.  

 

Hey Bryant, I know the time you put into Short Sale negotiation with BofA and many others, so thanks for sharing this experience.  I have one that I have received the same response being a Taylor, Bean & Whitaker original that was purchased by BofA.  We just passed our one year anniversary.  I will follow your lead and use the same strategy in trying to get final approval.  Having so internal insight is helpful!  Keep up the good work!  Barb

Wow, congrats on finally getting some attention! I must say that I'm amazed anyone actually read your e-mail though!

currently representing a buyer on a BOA short sale.  After JUST two months, BOA sent an approval yesterday.  Looks like this thing will actually close.

Thank you for saying something! We all agree B of A takes forever, but with everyone's help they are getting better! We just had one approved in 8 weeks with them and my listing recieved short sale approval in 3 1/2 months! We all have to work together and make our voices heard to get them to cooperate with us. Thanks you so much for all your hard work ,it's people like yourself who stand up and say something that makes life easier for the rest of us!!

Had a BoA approval come in this week.  However until we walk away from the settlement table and the deed has been recorded I'm not going to believe that something else will go wrong.  You just have to keep plugging and wonder even with all the volume why it has to be so difficult to get anyone to respond.

Bryant, keep up your tenacity. I like your creativity.

It still amazes me that often times the real estate agent has more expertiese than the the loss mitigation person at the banks, and then we must drive the transaction by asking the right questions, propsing alternative solutions, and staying on top of things to ensure progress.

Maybe because we are face to face with a concerned homeowner is one of the reasons we push on, and care. It seems that to the banks it's just numbers in a file. Real lives are impacted by these transactions. It'd be nice if some empathy was shown. Short sales are not traditional real estate transactions.

We learn on day one of real estate to take down notes of what you did and to whom you did it. I'm sure you ability to lay it all out for some executive in that format resulted in your success. I like to write mine on the file jacket.

BB:

Why on earth is the seller putting money in the deal? We need to stop letting the banks push us around on these things!

Were is the accountability? Countrywide and BofA make bad loans/high risk loans. Countrywide goes under (stock holders loose) BofA gets bailed out by Government ... BofA buys Countrywide through the process and its bad loans making a collection of a bunch of bad loans. Now BofA is allowed to continue its bad behavior. Less than 6 degrees of seperation for everyone that has been affected by a bad BofA decission.

We have had some good success using www.equator.com with BofA to get timely responses of late. It is a welcome relief! Janet Fetterman, Broker Associate/Owner Concord Real Estate

Bryant, I LOVE your typo:  "I may be bale to help."

YES -- if there's one person that can BALE someone out, you're the guy (and your network) to do it!!   :-)

BB - Love it. Diplomatic but truthful, The real questions? Will they really approve it? It's tomorrow. What's up?

I did see a post by Elizabeth Weintraub who had gotten a BOA approval in 24 days. Incredible.

Jeff

Bryant, great job by you! I'm so glad it rendered some response and ACTION! I must ask, "where did you send it?"

Of all the banks I've dealt with for short sales, BofA is the most frustrating.  It looks like Equator may make some difference, but the jury is still out.

Bryant,

I have resorted to this tactic in the past and it has worked. As you said, though, it's not always the right course of action...there are specific situations where it is most applicable, usually when the file has been repeatedly dropped or transferred.  It's amazing what a bank can accomplish in a very short time if presented with the proper motivation, isn't it?! 

Keep on representin'!

Tiffany

Bryant - it takes lots of tenancity and strength to get some of these deals through.  I have a few with BofA that have gone on 6 months now...hoping I don't need another 6 months to get them done!  It does seem like on a couple everytime we seem to be getting close, something happens.  I feel as though we are getting further with the Equator system though.

Well, Welcome to my world- I would say your rapid response; or actually any response at all is because of your company affiliation and maybe, just maybe, they don't want REALTORS everywhere to hear about BofA and their total ineptness on short sales.  I have had a deal in since December 2008. First buyer hung on until October, file process just as you listed above; here today, gone tomorrow and start all over with another negotiator. Brought new buyer approved file end of Nov 2009 (although I was never notified of the approval) buyer brought out their contractor and discovered a past cracked slab issue that was thought to be repaired in 05 was not done correctly and/or new movement had taken place. I notified BofA with photos and explanation and asked for approval to lower price for new buyer to be found- No response, until the file passed thru 3 more people and was finally 'closed' because the approved offer was not completed... and again, remember I was never notified of any approval!

So we start all over, two months into the process and I get 'stories' everytime I call in- finally get frustrated and start asking for details of their 'escalation' requests and BPO orders.. like when, who, what.. after being put on hold four times with the short sale support line the guy realizes he can't BS me to get off the phone and have to deal with someone else next time I call.. He finally admits that the file actually will have to be started all over in the Equator system because all files that are not in Equator are going to be deleted in the system in two days!!  And might I say that Chase can sometimes be worse..

Unresponsive short-sale lenders are costing everyone involved a lot of money, not to mention heartache, wasted time & effort. By the time they respond, in many cases the buyers have moved on. This means all of their efforts and those of their realtors is for nothing.

Why can't they just give us an up or down vote? Buyers shouldn't have to wait 4-6 months only to learn that they aren't getting the property.

Lenders claim they don't have the staff to handle the load - so why don't they hire more people? In this economy the jobs would certainly be welcome and if they can sell more properties instead of having to foreclose, they'll be money ahead.

Chase delayed responding on a good offer for over 2 months at which time the buyer went elsewhere. Then the seller decided to try for a Deed In Lieu. I terminated the listing and wished them the best.

Shortly afterwards I get a call from a realtor wanting access to the property to do a BPO. They say Chase told them to contact me. I told him that I no longer had the listing and couldn't provide access. In the next month this scenario was repeated with 3 other realtors.

Finally, I got a voice message from someone at Chase leaving a long list of all the things they wanted me to do before they would grant a DIL. If he or any of the realtors had checked MLS they'd have known that I no longer held the listing. Since my business is selling real estate there's no reason for me to be involved in the DIL process, so I wonder why Chase thought I should be their errand boy for getting this done...

I called and left that person a voice message (They NEVER answer their phones or return calls), telling him that I am a realtor and no longer hold the listing. I never heard back from him. Time will tell whether I continue to receive access requests from realtors trying to do BPO's.

 

Hi BB,

My last one with Bof A took 18 months with them. I went the same route. The problem the first time was all the emails to higher ups were worthless because at that time they had all quit and left the files in the desk draws. I probably know who everyone of those letter are:)

We finally did close after 3 buyers walked.

Blog Boy...

I think you should wipe that grin off your face and give me back my tee shirt :)

TLW...ROAR!

Wow, good stuff.  Thank goodness going to the top still works.  Good job Bryant.

Bryant,

Great work and your patience to stay with it!!! Not sure I could have done the waiting that long.  You're absolutely right . . . Bof A is the worst.  They still haven't got a clue and always have a million and one excuses why they can't respond or won't respond.  Keep the faith.

 

Mary Mastro, Keller williams--Sarasota, FL

 

I heard recently on the radio that Bank Of America...BOA is referred to as BOA-constrictor...because they squeeze the life out of you with every interaction you have with them.  They are a frustrating crew for sure!

I have a great amount of respect for your professionalism and knowledge regarding the short sale/foreclosure process and having gone through the S&L Crisis foreclosure mess back in the late 80's early 90's can honestly say I know something about dealing with the bureaucratic bumbling and lack of integrity on behalf of banks. Back then BOA was still screwing things up under the name NCNB or as people who had the misfortune trying to deal with them referred to as "Nobody Cares National Bank".

By coincidence I too have been working on a short sale (thankfully very rare in Austin) with BOA since 11-2009. Besides "Bank of America Short Sales Requiring More Than Just Waiting Around" they just added a new wrinkle last week by reducing the commission by a full % but approving the sale (again) and extending the closing another three months.And though unethical, it does not really matter to a huge institution who operates under their own rules!

 I know that you and many honest hardworking agents struggle daily with trying to explain the actions of a bank to the buyers and sellers trapped in this surreal and mind numbing dilemma and the fact is that no matter how hard you work a banks actions make the real estate profession look bad. BOA wonders why they have such a despicablele reputation and why everyone has such a poor opinion of them?

Bend Over America

Broker Bryant, you say that "we are on our 4th Buyer".  This is a very common scenario with short sales and it illustrates the reason WHY a short sale is a "distressed" product and not a "retail" product.  Quite simply, retail buyers want RETAIL property.  They prefer, they demand, traditional equity sales.  That is why I am now specializing in working with investors, good solid cash buyers who actually stay for the whole transaction, pay costs that most buyers won't pay, and help the homeowner avoid foreclosure by actually closing!!

BTW, I got your email today and really enjoyed your new Short Sale Superstars ning site!!  Great job. 

Hi Bryant -- So was it the letter that got them motivated? Your prominence by using the network of short sale stars and the media reference, or ?  Regardless, I'm glad.  So well written.  Perhaps you should put this photo in it as well, it might make them laugh but also have an effect.

Love the BOA comment! After 8 months and 3 buyers, BOA decided to foreclose on my seller. How can they call themselves Bank of "America"? They don't give a hoot

Brian...you definitely are the one to call with short sale problems.  WOW what patience...congratulations !!!

Evening BB,  Interesting thread.  Too bad it takes this sort of " in your face " communication to get even basic levels of service.   Well done.

"But that's an issue for a media interview"...maybe that's why we have absolutely no problem with BofA....and all this time I thought it was my superior negotiation skills!

By the way, I don't know Regina (comment 69 above) but she deserves a big hug! A realtor who gets it! Could use 10 more like her down here in South Florida. That's EXACTLY the mentality to get these deals done and to make some serious cash!!

Bryant - Go treat yourself and TLW to a nice dinner and bottle of wine to celebrate.  You deserve it.  Persistence does pay....or so it would seem. 

Bryant - great on you!!!  I just got my SFR designation and am eagerly soaking up all advice and info about short sales do's and don'ts that I can get my hands on...I will check out your website for sure.  Thanks for posting this and congrats on your hard-won approval!

Based on this story and many others like it why do they call them SHORT SALES???

Wow, Bryant - that's some story and now I'm worried!  I have a listing that is a short sale.  My seller has two loans, both with BOA... I am expecting an offer (or two) to come out of all the showings we had this weekend... how do I make it happen??

That is some story, a positive outcome but nonetheless I'm sure it feels somewhat bittersweet at this point. 

Your comment about having to deal with 3 entities in your response to one of the replies made their (BOA) delays a little more palatable.  Good job!  Most agents would have given up.

Jerry

I've been working on a short sale with Bank of America and so far it has not been that much different than others I have done.  Last contact said a negotiator was assigned and that he had 10 days to respond.  That means by Tuesday I should have my answer.  If not I'll re-post.

I suggest you stop keeping notes. Perhaps that would leave some uncertainy as to how long it has been and how pissed off you should be?? Were ALL pissed off. I pray every night to make BofA go away! May I borrow your email and the names you sent it too! I have also the deal since Oct, have been passed from one place to another and  I'm on their "new" system now holding my breath with 3rd buyer! Same old same old.......load,fax,email docs hold breath for 32nd request of 1 doc that was short........hold breath.......33rd request......I think we need to use shot gun method for better results!

I will be starting my first short sale with BoA. I had shied away until they started using Equator. Hopefully with Equator it will be an easier process. It's good to hear things are working out with yours. 

Tutas,
good for you, but there are many files sitting there and they they sent to foreclosure with no cause, even when you the extra scalations. :)

 

Bryant - The last B of A short sale that we closed took ELEVEN months to get done.  They are ridiculously bad.

Good for you Bryant!!  Four Buyers takes the cake though!!  I've got one that is on the third Buyer!!  Great e-mail and I'm glad to see that you got some attention and are getting the deal done.

Fourth buyer!  Unbelievable ...   My short sale with them took about 3 months, more or less.  I am glad that you are headed to closing.

BB,

I agree with some other commenters. We practically very rare close with the same buyer. We usually not always close with the second buyer. We usually close with the third buyer.

Great example the role of MI plays on a short sale. . .my grandmother always said.. .

baby that doesn't cry. . don't get milk!

Bryant, While all the other points made in your letter to BA are sage, I think this one is the clincher.

I am the co-owner and founder of a network of Short Sale agents throughout the country called www.ShortSaleSuperStars.com  From what I have read on our site, agents and consumers everywhere are pissed off with your complete incompetence. But that's an issue for a media interview and has nothing to do with this email.

Good work. I'm copying your letter for future dealings with A, B or C bank!

Hi all. Great comments. Thanks for relating your experiences as well.

Regina, 2 of the buyers WERE investors. In my market investors place multiple properties under contract and then just close on the few that get approved first. When we get an approval and ask them if they are ready to close they do the ole" "sorry we closed on another property" routine.

Buyers walk all the time. Or they can't get financing. It's frustrating to say the least.

Thanks everyone for stopping by and participating.

 

 

Shame on BofA for such terrible service.  I complained a month ago and kept calling back until I was able to talk directly with a supervisor, explaining my seller was stationed in Iraq.  Within 4 days I had bank approval.  It should not take an act of Congress to get them to respond.  Congratulations on being so persistant.

Congrats-- Persistency is what I found to be the key on my short sale.  Mine was with Wells.  If I did not follow-up on the follow-up of the follow-up-- the property would have been foreclosed on and we would have never completed the short sale.

I AM NOT A SHORT SALE EXPERT!

I am an expert at sending stinging e-mails up the corporate foodchain to get attention and solve a problem.  Fortunately I don't have to do it often.  But let's just say that before "Bank"Mac blew up officially, the unemployment rate went up just a little.

I think BofA's transition to the equator system has been fairly rocky.  We went through similar on a couple of BofA short sales that were in process, the process came to a grinding halt, then during one of our weekly calls, we were informed to switch into Equtor.  Two and a half more months and another buyer later, we slated to close week after next.  Persistence is key in being successful with these files.

BOA is one of the mega banks that really needs to be broken up into a bunch of smaller banks.  Kind of like what happened to AT&T back in the '80s.  The government has allowed them to get way too big for their britches.  I know several high producers that won't touch a short sale involving BOA or Wells Fargo.  Too much work for too little pay.  

Great job! I think (as someone else commented) that the threat of a media interview was enough to get their attention. Good luck on the closing.

I'm currently representing a buyer in a BoA short sale transaction and that bank is a nightmare. They are asking the buyer to to pay more than is actually owed on the first and more than what the appraisal came in at.  I fear this is going to fall apart unless someone at the bank gets a clue. Perhaps it's time for a nicely written email like yours!

Bank of America has to be the worst when working on a short sale. 3 Months and counting here.

Bank of America has to be the worst when working on a short sale. 3 Months and counting here.

Bank of America has to be the worst when working on a short sale. 3 Months and counting here.

Why does it take such a pissed off detailed letter to make someone sit up and take notice over at Bank of Un-America????

Bank of America got their bailout money.  Why should they care about helping anyone out now?  I have had the same experience with them.

Bryant - Woo hoo !!!!  Awesome !!  We have a couple going on for a long long time with BAC as well.  One we are on our 3rd buyer and get similar BS.  Is very frustrating.  Looks like I need to spend more time on shortsalesuperstars !!!

Bryant, congrats on your tenacity (not surprised) and adding a BofA senior negotiator to your arsenal. We just closed a BofA file last week, second buyer, 3 liens and the 3rd was the hold up but we called our Congressman and played the OCC card and got high up in the 3rd lienholder's offices to make it work.

Bryant, TLW is lucky to have you, isn't she?!  Way to go in never giving up as that's what it takes in a Short Sale, particularly with BOA. 

Everything I hear about BOA is that they are a nightmare to work with.  When a buyer is interested in a short sale with a mortgage with BOA - I cringe.  I haven't had to deal with short sales, but I will be signing up for training.  It sounds like what you have to offer is far more comprehensive than the standard courses out there.

I love how you ended the email by asking how you can help them do their jobs. LOL Kill em with kindness...sort of. It's funny how when you light the fire under someone's butt things start getting done.

There are many agents who will do everything possible to talk their buyers out of using B of A, because of all the pain they have caused their sellers and themselves with the short sales.  I guess they are so big they can afford to lose a few hundred thousand real estate agents.

Oh, so you have had some issues with Bank of America?  Welcome to the club.  I guess it's just their normal mode of operation.  To say the least, I am not very happy with them, although my sale did finally go through.

I have sat here and read through all of these messgaes and I am at a loss for words. I currently work as a supervisor in the short sale depart for BofA. And YES I hat my job. I hate having to get on the phone with these h/o-ers and agents and explain to them that I do not have the authority to submit a say day postpoment for a forclosure or that I have no more contact with their neg. then thy do. My first week of this job had me in tears listening to a home being sold in the background, while the home owner and her children where crying, and I was on the phone with the attorey's office try to get the sale stop. It is hard and some days I leave out that builder in the worst mood. EVERY DAY I attempt to maake some sort of contact with corprate to get some answers from someone. But just like the rest of you, my questions and calls go unanswered.

Cheryl, You have a very difficult job and I truly don't know how you do it. I really appreciate you stopping by and being so open with your thoughts. Thank you.

What a crazy experience. Good for you, and your buyers, for sticking it out. Thankfully you were able to get through to the bank, and hopefully they learned a lesson.

 

Thank you for sharing,

 

Anna

I have one right now and am playing the waiting game.  My buyer is getting very antsie....would like to first-time tax credit and we are pretty much out of time.  Its only been 3 months....judging by this post, I guess it may take a while longer. This is very frustrating for all in volved in the real estate transaction...especially the buyer.