If you are buying a Bank of America Short Sale, WATCH THIS
If you are getting a Bank of America brief sale, you want to watch this to know what to guard against. They have a flaw in the program, they admit it, and they are rather nonplussed about it!!!
Go get ‘em! Good Job.
What Americans need to do is TAKE THEIR MONEY OUT of Bank of America, and put it in a community bank. We need to speak with our MONEY. We have been brainwashed and tricked for far too long. Get your household in check, and go to a community bank. Stop trying to Keep up with the Joneses, and get out of Debt people. Educated others and break these huge corporations up that are robbing the middle class family blind! Please wake up!
Bank of America is a total Fraud, they thrive on lies & Corruption from within ! They will eventually screw you out of every dime – Stay away from Bank of America , JP Morgan Chase, Citi Bank, Wells Fargo !
Where are you from??
Thank you
whats a short sale
I will never do another B of A short sale! I am a real estate broker in Harker Heights, TX. I represented a buyer purchasing a B of A short sale a few months ago. The short sale was approved in writing by B of A. Four days before closing (after the buyer had spent over $1,000 for the appraisal, inspections, and survey), the listing agent received a letter from B of A saying they had foreclosed on the home two weeks earlier. The seller had not been informed. The buyer lost his $1,000.
@socalfrank oh-and a big mouth? you bet i have a big mouth, when my clients or my customers are in trouble. the banks are counting on those of us on the ground to just work away and not call attention to situations like this. my issue wasn’t with the mistake-rather with the fact that BofA said it’s not a surprise.
@Socalfrank i have completed default training with all of the schools, and am an active REO agent. I get the rules on personal property…but if you will watch the video and understand the situation-this occured AFTER closing. No rogue agents were involved, and the preservation folks were just following bad orders.
If you had any training in foreclosure though any of the default schools, you would know that any time there is ANY personal property left on the premises whether on a driveway, patio or inside the house, where the value is greater then $400. You do not lock-out, but rather inform the asset manager that the property is occupied. Rogue agents and property preservation companies who don’t follow the rules are just making life more difficult for those of us who do.
@socalfrank It may not be typical and illegal…but it happens. I’ve worked for an REO broker and property preservation co. We were assigned a foreclosure listing (approx $400k) by BofA & told to re-key it. There was a corvette in the garage, but the home was unfurnished and looked like it was being remodeled. We re-keyed & the homeowner called later pissed off. We were able to find out it was not in foreclosure & had to pay for a front door which was damaged in the re-key. So lay off her.
Thanks for posting Leigh. I’ve had two bad experiences with Bank of America Short Sales. We had ready willing & able buyers (cash). And B of A took three months to reply. On the first, the buyer/investor found something else, so it went to foreclosure. Now a year and a half later, it’s still not on the market. The second we were about 2500 apart, and then B of A went UP on their counter. Unbelievable! The buyer/investor event went up to their lowest counter offer. B of A WENT UP AGAIN!
This is not typical and also illegal. Even if the property would have been foreclosed, they need to post a personal property eviction form on the door and give 45 days notice before they can trash out. If the trash-out would have happened, I bet the homeowner could have filed a huge lawsuit and won all types of punitive damages. This hysterical video is made by a stereotypical realtor who has a big mouth and a little brain; gives realtors a bad name.
Well in Florida if you are caught inside my house you will have a problem you can’t handle.
LOL, BOA has piles of forclosure files on their desks. They are mis- managing these files due to pure volume. Many properties have trash out crews securing the home BEFORE the home is even foreclosed. I have helped homeowners file restraining orders against them, as well as assisted homeowners on civil suites. We all need to start bringing civil cases against the ponzie scheeme of the banks using the laws in our favor. The banks can only abuse people who let them do so.
OMIGOD–my two worst short sales (2 1/2 years for one and 16 months for the other) were both with Bank of America. And just when I didn’t think they could be more insensitive or idiotic, they pull this crap? God I hate them even more now. I am about to add Wells Fargo to that list as they gave me 1 day to close a short sale–and I don’t even have approval from the 2nd yet!
~Rebecca in San Francisco
@tdawgUM94 I was very specific in describing the situation, although I did purposefully leave out the addresses and names of the other parties since I respect the privacy of others. I did deal with BofA specialists and the appropriate departments. Please view the video and you will see that the reason I shared is that BofA admits to a flaw, and I want folks to be aware-that’s all. I will sell shorts/foreclosures/regular sales, whatever makes the most sense for my clients. But caveat emptor.
Could you be a little more specific? Please don’t spread general panic over a situation specific problem. Thank you for identifying Charlotte, NC as your area of expertise. Did you deal with BOA specialists? Did they assign the borrower/investor loan to the appropriate department? Are you saying you would rather sell your buyer a bank owned foreclosure to ensure appropriate processing? You have one anecdotal experience to share in this video.
@myretarnation to answer your question… you sighed to pay back a sum of money at interest and then that promise was used to create the money that was loaned to you. in other words you created the credit that was loaned to you and will not pay that back with interest. if you are still having trouble with that then watch a documentary called “money is debt”. and your welcome.
Awesome!
As soon as some BofA representatives are shot dead as home invaders, BofA will feel the heat. They will never see the light but good businessmen feel the heat and dead employees are heat. It is regrettable for a Christian to have to kill working men who think they are just doing their job, but it counts as self-defense. As the Marine Corp taught years ago: “Ambush is Murder and Murder is Fun”
USE RIFLE BULLETS because they KILL KEVLAR.
@krsoccer19 find where they live, breakdown their back door and re-key their house and see how they like it.
Good for you, Leigh. If I lived in your area, YOU would be my choice for a realtor!