This is a follow-up to my post from mid-February about working with Bank of America.
After over ONE YEAR working with Bank of America on a short sale, we finally got approval in late December 2012 with settlement to be held on January 4th 2013. The buyer walked at the time of approval and I was told that if I brought in a new buyer within 5 days, the bank would would approve the new buyer right away (soft decline).
The presidents office called me one week after my post in mid-February to let me know that they were calling the third party company they use to get the ball rolling. We were contacted the same day! giving them a few papers they already had and were told the PMI company was reviewing the new contract and would get back to me. ONE MONTH LATER AND NOTHING!!!
I have experience with many short sales and simply don't understand how management can run a department with lack of communication and follow-up for those working on behalf of their customers.
There seems to be no passion to ending the severe hardship my clients have been experiencing for some time. The bottom line is that it's just not fair to allow people who are in a hardship to live through the stress of not knowing when they can move on.
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Yes, Brian is probably correct. I had a short sale where the PMI company was holding up the transaction and the "large" well known bank I was doing the short sale with would not negotiate with PMI and since we were not the "clients" of the PMI company, they wouldn't work with me either. Long story short, my clients had to file a complaint with the OCC and that finally got the ball rolling and the deal done.