First I would like to thank ALL of you for your comments. It worked! Let me try to sum it up for you.
- Put the house on the market October 2009.
- Got an offer 1 day later, VA buyer fully approved
- Submitted ALL paperwork to BOA
- Waited all of October, November and December
- Get a notification that we must use REO Trans/Equator - WTF???
- We upload everything in Equatore
- We get a denial end of December because they cant get the log in right.
- Start the process all over again. Now we are moving forward.
- Wait, and wait, nothing in December, January or early February
- Buyers are going to walk, but willing to wait until end of Feb
- Contact BOA and nothing
- Foreclosure letters have been coming since January
- Contact Foreclosure attorney and they get us a negotiator - Can you believe that?
- Negotiator is communicating so we are moving forward
- Now it's March and we are in REO Trans/Equator and it says Negotiation.
- We email, we call, we write. We call attorney. They cant help.
- Foreclosure date set for March 24. Buyers extend til March 15 because they see we have a negotiator
- March 10 comes and goes. Nothing in REO/Trans.
- I take a SFR class on March 11 to get certified in Short Sales and learn absolutely NOTHING but BOA is hard to work with and God bless anyone who can get one closed in time
- I meet you guys on March 12th.
- I first filed a complaint with the OCC, BBB and sent a letter to my congressmen and to President Obama. I copied all the folks I spoke to in the past at BOA, the foreclosure attorney and I emailed and left messages for Dave Sunlin, SVP, Mr. Massey, Chairman of the Board and Joe Price, Chief Financial Officer, Gabrielle Harrison, VP of REO Sales. I did all this on a Saturday and Sunday so that Monday morning, they would have my emails waiting for them first thing.
- Monday afternoon, March 15 (they are in a different time zone) my phone was ringing off the hook. I got phone calls from 2 BOA reps and a call from Fannie Mae. WOW!!!!
- I also called the MI company Old Republic who told me they couldnt talk to me so I had a BOA rep on the line working with them to get the whole thing negotiated. It was like a symphony.
- On the eve of March 15, 2010, I had the loan negotiated and the MI company responded to the deal (BOA said the MI company was the hold up.) They said they would call me back by March 16 to get things approved.
- On March 16th, not a single soul called me. I am angry now because I was just stood up. Not acceptable.
- So, at 4 pm. I called Dave Sunlins office and what do you know. His assistant answers. I told her hat this will not work and that they need to realize that this could happen to them, etc. etc. etc.
- At 6 pm my time, I got a phone call from the senior team manager leader whomever
- At 7 pm she APPROVED the loan. Can you believe??
The Squeaky wheel really does get the grease. Squeak and you shall GET!
Below is the letter I sent to BOA:.(use it, change it, whatever) They need to hear from YOU!
Good luck and if you would like to email me for more info, I will give you whatever you need firstname.lastname@example.org
Dear Mr. Sunlin, SVP of BOA Loss Mitigation Dept at BOA,
(Note: I have copied Mr. Massey, Chairman of the Board and Joe Price, Chief Financial Officer)
How are you? I trust all is well.
I know you don't know me, but it is time I contacted you regarding my Bank of America Short Sale. I have been so upset that no one at BOA will assist me to get this short sale closed, that I have made a formal complaint in writing to the OCC, the BBB and FDIC. I will be happy to copy you on the letter I am also writing to our government about the unfair and unethical treatment of American citizens by BOA. I plan to send a press release to CNN to expose this unfair practice against your customers.
The property address:
Chesapeake, Virginia 23323
Respectfully, I am trusting you will try to get to the bottom of this situation. In summation: I have a home that was sold in October to a ready willing and able buyer and BOA wont do anything to help me get this home closed. The buyers are going to walk away on March 15 and my home is in foreclosure proceedings. This is unconsionable. Please assist ASAP. I have outlined the situation below if you are interested in seeing how much pain and suffering I have endured.
I have been rather patient through the process, but time is of the essence. I have a short sale that has been in the "works" since October 2009. For some, October 2009 is not a long time, but JUST imagine you bought a house in October and you cannot move in until "NEVER." Also imagine me, the seller, about to get foreclosed on when I have a ready, willing, and able buyer. This is absolutely ridiculous and unconscionable.
Let me share the timeline with you:
October 2009 - listed our home
October 2009 - got a qualified buyer and a ratified contract
October 2009 - sent a complete package to BOA
October 2009 - BOA acknowledges receipt of packet
November 2009 - NOTHING but waited
December 2009 - NOTHING but waited
December 2009 - We are told to use REO/Trans aka START Process ALL OVER AGAIN
January 2010 - NOTHING but wait
Buyer is about to walk now. They are impatient
February 2010 - Foreclosure notices are coming left and right.
February 2010 - Buyers extend because we now have a NEGOTIATOR named Erica from BOA
February 2010 - STILL WAITING
February 2010 - Supposedly waiting for response from MI company
March 2010 - Buyers are threatening to walk away no matter what if the home does not close by March 15th (THIS YEAR)
March - 2010 - Foreclosure date set for March 24, 2010
Still Waiting, nothing done, still in REO/Trans in the negotiation phase.
Can anyone explain why BOA would rather foreclose than get this home SOLD!!!!???
I have been in contact with Erica Myers-Bill with BOA and her email is email@example.com. While she is very nice, I understand that she is just the person who answers the phone and email. Other than that, I know she has no power to get anything done.
I expect immediate action as my buyers would like to close on March 15, 2010 or they will walk. The market is not that great, therefore, we dont know when, if ever, we will get another offer from a qualified buyer.
I hate to involve the entire BOA family, but it seems like I have no other option. Until I get satisfactory action, I will contact whomever I can. All I want is to get this home closed and make the buyers happy. They have been patient too and they deserve the home they are contracted to buy.
I know you are not personally responsible for the negligence of your company, but I am respectfully begging for your help. I have suffered enough stress, sleepless nights and hair loss over this ordeal. I would pray that you can find it in your heart to help get this situation expedited and resolved IMMEDIATELY! I wish I could articulate in words how this has affected me, but I am sure that is the last of your concern. In summation: PURE HELL!
If it's the last thing do, I will find your home address and camp outside your home and/or office until you approve this loan.
God Bless and good night!