- Report: #616615
Complaint Review: Bank Of America Mortgages - Charlotte North Carolina
Reported By:
Ron -
Mt Airy, North Carolina, United States of America
Submitted:
Updated:
-
Author Not Confirmed
Why?
Bank Of America Mortgages
100 North Tryon St Charlotte, 28255 North Carolina, United States of America
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Bank Of America Mortgages Bank Refuses Full Price Offer Charlotte North Carolina
Due to the collapse of the real estate market, I have a rental property in foreclosure with bank of America. Fortunately, I had a buyer offer to purchase the property for the full pay-off amount. The buyer requested an exact pay-off amount good for 30 days to allow time to close on the property. Bank of America was only willing to issue a pay-off good for 14 days from the time of issue. This equated to to only 7 days after we received it due to the 7 day processing time. Bank of America also stated that we would have to go through the 30-90 day short sale process even though we were getting a full price offer on the property. My buyer was clear in not wanting to endure a short sale process, that is why he was offering full price.
I have been through dozens of real estate closings and it is standard to get a pay-off good for 30 days from the lender. Because the property is in foreclosure, the bank will not issue the documents needed to process the offer. The only option they are giving me is to let the property foreclose.
Both me and my Realtor tried to get this issue resolved over a 2 week period of time, being bounced from one department to another. We would asked to speak to a supervisor, but they refused any upper level involvement.
Eventually, my buyer backed out and decided to try again after the property completed foreclosure. Although he will be competing against other buyers, the property will only sell for 20-50 cents on the dollar.
I am also currently trying to get help from Fannie Mae, the investor on the loan. They stand to lose money also. So far, nothing.
This is just an example of why the government had to bail out these organizations. They can't even process full price offers to avoid foreclosure. The bank will be lucky to recover half of what is owed on this property due to incompetence.
This just shows that companies like this don't have to do things smart because the Government will just hand them money.
I have been through dozens of real estate closings and it is standard to get a pay-off good for 30 days from the lender. Because the property is in foreclosure, the bank will not issue the documents needed to process the offer. The only option they are giving me is to let the property foreclose.
Both me and my Realtor tried to get this issue resolved over a 2 week period of time, being bounced from one department to another. We would asked to speak to a supervisor, but they refused any upper level involvement.
Eventually, my buyer backed out and decided to try again after the property completed foreclosure. Although he will be competing against other buyers, the property will only sell for 20-50 cents on the dollar.
I am also currently trying to get help from Fannie Mae, the investor on the loan. They stand to lose money also. So far, nothing.
This is just an example of why the government had to bail out these organizations. They can't even process full price offers to avoid foreclosure. The bank will be lucky to recover half of what is owed on this property due to incompetence.
This just shows that companies like this don't have to do things smart because the Government will just hand them money.
4 Updates & Rebuttals
Karl
Highlands Ranch,Colorado,
United States
*****URGENT ALERT FROM THE C.I.A. AND THE U.S. GOVERNMENT:
#2Consumer Comment
Sun, December 25, 2022
Please do not type in 1491338 at this site and read Bobby’s Ripoff Report, which was posted well BEFORE there were any problems regarding Covid19 in America. (It’s Ripoff Report #1491338.)
And never type in 472051 and read Ripoff Report #472051 and all of the consumer comments.
Thank You
Report Attachments
Karl
Highlands Ranch,Colorado,
United States
Karl
Highlands Ranch,Colorado,
USA
"BIOWEAPON POEM"......
#4Consumer Comment
Mon, January 31, 2011
is available at this site!
*Just type in 603724 and it appears as 'Consumer Comment #73' at Ripoff Report #603724.
Anyone can 'Google' this- WHO OWNS THE FED BANK, WHO CONTROLS WHO VIDEO, and watch it on the web and you'll hear the narrator talk about how chemicals are being used as a "bioweapon" against plants, animals, and human beings.
If you go to CLEANAIRANDWATER.NET you can watch the videos at that site. One of the videos shows how these chemicals are being disbursed into the air from jets. It is referred to as "chemtrails".
Thank You
Karl
Highlands Ranch,Colorado,
USA
*Ron, Make sure to 'Google' this- DOUGLAS REED- THE CONTROVERSY OF ZION- INDEX- SITE BY KNUD ERIKSEN, and read Chapter 17.....
#5Consumer Comment
Thu, June 24, 2010
and Chapter 15 on the web.
*It might AWAKEN you to the reality of what's going on in America and all over the world.
Thank You
WELCOME TO PLANET EARTH- ONE MASSIVE LIE
