Bank reneges on short sale — after it closes

I stared my first account with BofA when I was fifteen and am now 61 and am still with them. I can say that their terms for a loan often have required that I really not need the loan before they would approve it. That has always depended upon the economy and the lowest interest rate.  The biggest problem - today - is the federal requirements and each state(s) requirements placed upon BofA after they took the bailout. I have been lucky in life and have never borrowed anywhere near as much as my balance on hand in thier bank. But - I have recently had problems based upon Stupid Laws passed by the State of Texas regulating them unnecessaily after they took the bailout. Like always - BofA takes the hit after Fannie Mae and Freddie Mac change the rules - after they make a deal with a customer. Then - BofA gets embarassed into honoring the deal - and the feds are never blamed. BofA is in business to make money and does awful things like - take the bailout - and use it to pay bonus' to executives like every other corporation. They also will take the tax write off for honoring this deal.The corporations of this country always take the hit for the laws made by the people you elect - at every level of government. Sure - they lobby for these laws - but you are the ones who continue to vote for the same old garbage to represent you. Until "We - The People" change the way this government perverts the constitution, we can expect this to continually happen. This is only my opinion and we all have an opinion. My suggestion is that we write in "Neither" on every ballot at every level of government in this country - until such time as someone with basic moral decency and integrity runs for office. Ha - like a single one of you has the fortitude to do that. And - I do not blame you - as then the President could be elected by his own single vote - and that of his wife and relatives. If you want "change" - open your mouth and yell into the face of every single person you vote for at every level of government. BofA - and every other corporation - can not get away with this - only if YOU take action. "We - The People" have to take our country back !!! Just making snide comments online will not change anything.

Just remmber Obama helped broker a deal for Buffet to help sure up BOA' s balance sheet. They give Buffet a  6% dividend and the try to make a  4% mortage loan and make money. They are a shady operation that is being propt up by a shady president who is doing it to help his rich friends. They don't give a D@@@ about people or housing , just making money....

 

About a year after I closed escrow on a property, I received a letter from BofA stating that they had aquired the note on the property and were demanding that I purchase a special flood insurance rider on the property. The home was at the 2000 foot elevation in the foothills of Los Angeles. I called and was toild that if I did not purchase this insurance, they would begin forclosure...I wrote them a letter using a false letterhead of a Law Office I created asking for a copy of the original note, specifically, asking for the exhibit which called for such special insurance...Never heard back from them...

BOA is just plain no darn good! The games they play. People need to stay away from them and teach them a lesson. Hit them where it hurts, right in their back pockets.