I know someone who is trying to do a short sale. Bank of America (the "Banksters") holds the mortgage. They are being wholly uncooperative.
The Seller cannot send papers to the Banksters by email or regular mail. Everything has to go to a central fax machine. When the file gets transferred from one desk to another, the Banksters take the contents of the file, shake it over a trash can, and then demand that the Seller send everything again.
This has happened, for some of the documents, six times. Documents that have been sent several times previously all of a sudden are not readable. Information that is clearly present on the papers that were fed into the fax machine are deemed to be missing by the Banksters.
The Banksters' objective is clear: Say that they are cooperating with the government's plan on short sales while making it impossible for those sales to be conducted. Because what they want to do is foreclose on people, sell the properties for a pittance, and then go after the borrowers for the difference.
In a just world, the entire upper management of the Bank of America would already have their heads mounted on pikes.
And maybe, just maybe, we'll get around to doing just that.
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Monday, September 2, 2013
3 comments:
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Why am I 'not' surprised... sigh And agree!
ReplyDeleteMy brother was briefly a mortgage broker, before the Crisis. I'm not discounting deliberate sabotage for gain, but this sort of thing was common for normal loans then, and appeared to be incompetency rather than malice.
ReplyDeleteBank of America must be basing their business model on incompetence... or, they are just incredible assholes. I've had the same run-around.
ReplyDelete