Comment

Comment by Thom Colby CA Brkr 888-391-5245 on August 30, 2012 at 8:40am

That's likely an extra 4 Grand for REDC !

Comment by Patrick Smith on August 30, 2012 at 8:35am

I cannot say enough bad things about REDC.  I had a buyer flake out on an approved deal 20 days before closing.  No problem, because we have a backup offer for slightly more ready to go to contract the day after cancellation, right?  Wrong as it turns out.  REDC doesn't recognize BoA's policy of allowing substitute contracts within 5 days and wants to start all over again.  Bad enough, but they then claim that a new BPO is needed.  Ok.....  BPO Done and the value has gone down.  Good News!  Wait, the minimum net on my existing approval letter has gone up by $4,000?  Will you put that in writing, REDC?  No, of course not.    FRUSTRATION.  

I've been on the phone with BoA for the past 51 minutes trying to get this resolved, and all they seem to want to do is refer me back to REDC.

Thanks for letting me vent.

Comment by Dean E Eshelman, CPA, CDPE, IRES on August 24, 2012 at 7:03am

PS make sure your twitter account settings are NOT marked as private. Also DM bofa_help. They will not do anything until they "officially" receive your tweet.

Comment by Noel Crider on August 24, 2012 at 6:43am

Send a tweet to bofa_help, and someone will get back to you within 2 hours. Good luck!

Comment by AnaLee Schnell on August 24, 2012 at 5:18am

What do you mean use Twitter?

I just got a call from the escalations department. She said that she is taking this as high as she can go to see what she can do.. fingers crossed.

Comment by Cami Pinsak on August 24, 2012 at 4:52am

Did you use twitter?

Comment by AnaLee Schnell on August 24, 2012 at 4:32am

I used the online escalation tool last night but no call yet. I called into customer care this morning and was treated with nothing but disrespect with these rude ladies doing nothing but talking over me. They say that I cannot do anything with SPS until September 1st when they complete the transfer.. and there is no guarantee it will pick up where it left off.. i might have to do this all over again.. and they may not offer the $5000 coop with a full deficiency waiver. My client has already moved out of the house and needed that money for the moving expenses.. what a nightmare..I used to have the VP of BofA's email address and for the life of me I cannot find it.. 

My client is an attorney... they are sure in for a world of hurt.. and now i have to make the call to the client.. not going to be pretty. I just do not know how they can say this is ethical practices.

Comment by Donna Clayton, Broker, MBA on August 23, 2012 at 3:16pm

AnaLee,

Not to worry.  SPS is responsive and efficient.  Just contact a manager over there and I'm sure you'll be able to resolve the matter quickly.

Comment by Catherine Gheen on August 23, 2012 at 2:34pm

B of A has an escalations division.  If you call Customer Service they can get you over to them.  This is amazing that some idiot dropped the ball like this?

B of A knew a while ago that the loan was going to be service transferred.  Did your seller get a letter from B of A or SPS telling them of this prior to the fiasco of closing?

A member of the escalations team should be able to let you proceed to close as the loan will not stay with either B of A or SPS.

Escalate, Raise the roof!

Comment by Len McGuirk on August 23, 2012 at 1:55pm

@AnaLee - It sounds like a very similar situation that I ran into with Bank of America some time early this year. The file was completely transferred to SPS I believe as well. If my memory serves me correctly, I made it a point to ask SPS to honor the same terms that Bank of America offered to my seller and the offer amount being approved. SPS actually seemed very good about it and honored the terms and got it closed quickly, probably quicker than Bank of America would have gotten it closed. Just speak with an SPS manager and let them know that you want to finish the sale with the same terms or you are going to let it foreclose. I have a feeling SPS may want to complete the short sale. Let us know how it works out. Good luck. 

• ‹ Previous
• 1
• …
• 54
• 55
• 56
• 57
• 58
• …
• 353
• Next ›
• Page