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Bank of America, they need to hear from us!!

Posted by Jeff Payne on November 9, 2009 at 11:28am in Short Sale Discussions
All of us on this site need to band together and fashion an email letter to the Board of Directors and the CEO of Bank Of America to let them know what is really happening with short sales and their company. I did this about a year ago and sent it to Ken Lewis and I got a response. We all need to do this and let them know what is happening from a seller, buyer and agent perspective. My goal is to get a meeting and fly to their headquarters to speak with them personally. Who is with me? If I forward email addresses, would you be willing to put professional emails together to discuss our concerns? No bashing, nothing nasty but a professional email explaining what we have to go thru to get a BofA short sale completed

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Replies

  • Pattilynn Guilford November 20, 2009 at 5:45pm
    Bravo Craig. Thinking they are starting to listen to the troops on the ground and hopefully in the nick of time before the government implements another smoke and mirrors program due to being ignorant. Sometimes it reminds me of the Wizard of Oz...."Pay no attention to the man behind the curtains...."

    We are the only ones vested in our profession and the only ones equipped to save it and do what we always do - Help people. Real Estate is a relationship profession unlike any other.

    Cheers to a good weekend to everyone. Think good thoughts :)


    Craig Baranowski said:
    Jeff,

    I would be more than happy to help out as well. Bank of America has a great system that has been built for them to streamline the process. The problem is they can not effectively train and implement the new system. REOTrans.com spent 8 months building a custom short sale portal for Bank of America. 8 other national banks will be on this system as well for short sales. The sad part is no one from Bank of America knows how to use the system or has been trained to use it.

    I had Chris Saitta, CEO of REOTrans.com give me an unsolicited call last week out of the blue to discuss my thoughts on the Bank of America short sale process and the REOTrans.com relationship. It was a very interesting conversation. You can only imagine how Bank of America has impacted their systems.

    The most impressive thing I learned is that the executives are listening, reading the blogs and want productive feedback.
  • Craig Baranowski November 20, 2009 at 4:22pm
    Jeff,

    I would be more than happy to help out as well. Bank of America has a great system that has been built for them to streamline the process. The problem is they can not effectively train and implement the new system. REOTrans.com spent 8 months building a custom short sale portal for Bank of America. 8 other national banks will be on this system as well for short sales. The sad part is no one from Bank of America knows how to use the system or has been trained to use it.

    I had Chris Saitta, CEO of REOTrans.com give me an unsolicited call last week out of the blue to discuss my thoughts on the Bank of America short sale process and the REOTrans.com relationship. It was a very interesting conversation. You can only imagine how Bank of America has impacted their systems.

    The most impressive thing I learned is that the executives are listening, reading the blogs and want productive feedback.
  • Pattilynn Guilford November 19, 2009 at 5:48am
    Its crazy because I'm getting approvals in record time and with no negotiating. Seems like B of a is clearing the desks even got a call of approval on Veteran's day.

    Make sure your file is exact when submitting. Make sure the numbers are good. And always Pucker up Buttercup when speaking with ANYONE at ANYTIME when calling banks....until it gets to negotiating the numbers, then be a pit bull.

    Melissa Hosse said:
    They are definitely not interested in getting deals done which I find mind boggling! I have 5 in the fire with them. One with a flat out rejection, one with a rejection that I am appealing and 3 that are at a standstill! I have complained to the BBB, called every number I could find and call the regular numbers every day! I'm in, put me on the list!!!
  • Melissa Hosse November 19, 2009 at 2:42am
    They are definitely not interested in getting deals done which I find mind boggling! I have 5 in the fire with them. One with a flat out rejection, one with a rejection that I am appealing and 3 that are at a standstill! I have complained to the BBB, called every number I could find and call the regular numbers every day! I'm in, put me on the list!!!
  • Pattilynn Guilford November 17, 2009 at 1:11pm
    I am with you! I've had a letter drafted for months and also thought about flying up there. Have closed about 14 B of A files.

    Sent a letter over the summer to Ken Lewis, Joe Prince et al when escalating 3 files. Received a call back within an hour and all three files were reassigned to more experienced negotiators. Didn't work the second time around.

    Totally agree with the no bashing. My last negotiator had surfed the web and found threats against B of A employees. We want to stand out as working side by side with B of A, not as their adversaries.

    Email me to exchange contact info.
  • Linda Mayer November 17, 2009 at 11:47am
    I, for one would love it and where do I sign?
  • Jeff Payne November 14, 2009 at 10:25am
    I have been very busy and will work on this in the coming week!
  • Elaine Edwards November 14, 2009 at 8:19am
    Needs all the help I can get currently have three BofA Shorts Sales hanging...out in BofA Land or is it REOTRANS Land...
  • Elaine Edwards November 14, 2009 at 8:17am
    My email is emedwards@frontiernet.net if you need the letter sent or you can just cut and paste it.

    Elaine;)
  • Elaine Edwards November 14, 2009 at 8:16am
    Yes, you may

    Jeff Payne said:
    Elaine, Can I have permission to use the letter below?
    I am going to do some detective work and make sure that everyone that matters at BofA hears from us. I want to make sure that their CEO, BOD, and any other upper management is contacted. Give me a week or so to gather the contact info. If anyone has contact info that may help, send it to jeff.payne@kw.com
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