Why Does Bank of America Have Such a Bad Reputation On Short Sales?

I Am Dislike Bank of America Because:

1. Bank of America often pays a pathetically low 4-5% commission on a short sale, when they take twice as much work as a normal sale.

2. Buyers can't get an answer on their offer in a reasonable time, thereby causing more and more of them to give up on buying short sales. Sometimes I feel like the banks could care less about the buyers and treat them like dirt.  

3. Customers trying Loan Modifications with a large bank said their documents were automatically deleted every 30 days and they had to re-submit all of their Loan Modification Paperwork for approval. These customers either have to get their loan modification done in under 30 days, or risk losing their home! Sound unfair?

4. Bank of America turns down short sale files with good offers because one single document is needed.

5. Bank of America requires agents to completely resubmit the entire file if a buyer who waited 75 days gets impatient and cancels their contract.

6. Bank of America would rather foreclose on a house and destroy a home seller's credit than hire on more staff to properly handle the short sale negotiations.

7. Ken Lewis lied to stockholders about Merrill Lynch employee bonuses.

8. Bank of America's constant rejection of short sales without the proper review process causes harm to buyers, home sellers, and real estate agents.

9. Despite the destruction of Bank of America's finances, Ken Lewis still gets to walk away with a $71 Million Dollar Retirement Pay Package.

10. Bank of America profits from the money they save by not hiring on short sale negotiators. Did you know that most of the loans aren't even owned by Bank of America itself? In fact, 45% of the loans are owned by Fannie Mae & Freddie Mac (Uncle Sam & the US Taxpayer.) Experts estimate that Bank of America owns fewer than 10% of the remainder.  No wonder they don't care if the home is foreclosed on and sells for even less money as an REO! But, should they be allowed to profit from this so that Ken Lewis can get his $71 Million Dollar Bonus?!!!

If you're interested in helping us "Change the System, Starting With Bank of America", then enter your name and e-mail address to the right. You can help do your part to get the message across to Bank of America and their CEO, Ken Lewis. Real Estate Agents are sick and tired of being treated like dirt on Bank of America Short Sales. I know that I am!

 

Real Estate Agents are one of their biggest customers! Why are we sending our business to them when they treat us like dirt on short sales? Simply enter your name and email address to the right...

 

Talk soon,

Ben Curry

 

P.S. Are you sick and tired of Ken Lewis and the other Fat Cats thumbing their nose down at us from their Ivory Towers, thinking we don't matter to them? You can play a part whether you want to get involved publicly or not. Do your part and help us to get the message out.

  

Join the movement! Help us get Bank of America to do the following:

 

1. List homes at FMV value and then drop prices slowly.

2. Give buyers an answer on their offer within 3 business days.

3. Allow sellers to move on with their lives without a huge debt.

4. Pay agents 6% commissions on any and all short sales.

5. Assign a negotiator within a week of when a property is listed. Then, order 2 BPOs to determine the listing price. 

6. Stop asking for the seller's docs once the foreclosure process has started. What are the banks going to do once they foreclose? Duh! List the property for sale! Will they be asking the sellers for docs at that time? Then why ask for them now?

7. Pay the listing agent $1,000 for collecting all of the "docs."

 

Just enter your name and primary email address - then click the "Send" Button to join our movement. (Use the info when returning. All information is kept 100% confidential.) Then, allow the next page a few seconds to load...