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Bank of America and The Lawyers Full Employment Program

Stop BofA

I have to admit – even I was surprised at this one.  I’ve previously written about Bank of America’s handling (sometimes an interesting word choice) of short sales.  I’ve written about how they have foreclosed on homes – by continuing with their foreclosure process even after the home was successfully sold to a new buyer who did not have a loan with them.

Now they have foreclosed on a home in Spring Hill, Florida that they NEVER had a loan on – they simply had the wrong address.  Telling the company who handles Bank of America’s foreclosures (for $3,800 a house) that they had the wrong address changed nothing.  They went right ahead and foreclosed anyway.  Charlie and Maria Cordoso, the owners paid cash for the home and there was no lien with Bank of America.  Read all about it at tampabay.com.

In closing – and I really mean this – BofA is actually getting better (much better – but there was nowhere to go but up) at processing short sales.

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Written By

Russell has been an Associate Broker with John Hall & Associates since 1978 and ranks in the top 1% of all agents in the U.S. Most recently The Wall Street Journal recognized the Top 200 Agents in America, awarding Russell # 25 for number of units sold. Russell has been featured in many books such as, "The Billion Dollar Agent" by Steve Kantor and "The Millionaire Real Estate Agent" by Gary Keller and has often been a featured speaker for national conventions and routinely speaks at various state and local association conventions. Visit him also at nohasslelisting.com and number1homeagent.com.

22 Comments

22 Comments

  1. Jim Gatos

    February 27, 2010 at 4:07 pm

    Is BOA looking to provide us agents with some “yuk yuks”?

    Because in spite of the outrageousness of this, and the farce it spawns, this is truly funny in it’s own perverted way…

    However, I feel so darned bad for these homeowners, and I sincerely hope BOA does right by them.

  2. ktcoz

    February 28, 2010 at 8:27 am

    This is maybe the third time I’ve heard of this happening over the last four or five years, involing either BOA, or CW. Once (I think) in Texas, and another time in Nevada. In one instance, the owners were on vacation, and came home to all their belongings gone, locks changed, & house winterized, but don’t believe that the f/c proceeding were started. It was all the property pres company that had the incorrect house.

    Even once for this to happen is too many times. It can’t be that difficult to hire quality employees at every level – especially in this economy – to make sure things are done correctly.

  3. Brigitte

    March 17, 2010 at 6:35 pm

    Hello Russell! I am in the midst of a short sale “approval by BOA” it has been months. I supplied all the information I could find to my homeowner so that all avenues to keep the house had been explored. Two years later the BOA sent a Fedex to let him know that they have a refinance option for him. The home was listed 2 months earlier.

    He was already living alone in the back of a small business he owned,” It was foreclosure and has now sold.” His wife and children were living with relatives. I had submitted an offer, cash, nothing else on the purchase contract just a cash sale.

    My buyers are patient and wonderful. I on the other hand believe that no one, no company, no retailer, etc. should be allowed to treat customers, present or past clients, the way that this Bank has.

    I have had help but only when I twittered, blogged, facebooked, linked, and commended on blogs such as yours. I am hoping that if there are enough words out there the CEO will accidentally click on a tag or link and find out what the public is going through.

    What goes around comes around. BOA could end up like us being ignored and going downhill because someone is holding an answer that would stop the endless downward spiral.

  4. Martha G

    August 22, 2010 at 10:47 am

    We are in the BIGGEST MESS WITH BANK OF AMERICA<THEY ARE STEALING OUR HOME!!!!!!!!!!We wer with COUNTRYWIDE THEY ROLLED US NOE BANK OF AMERICA IS ALSO!!!!!!!!!!!!!

  5. Dallas Criminal Defense Attorney

    December 10, 2010 at 10:49 pm

    While we are dealing with items within the vicinity of Bank of America and The Lawyers Full Employment Program, The law is not some abstract notion that can and will guard us when we want to rely on it. The law is an integral part of democratic life, and something which regulates our conduct, and in essence permits us to act according to our personal desires within reason. Some could feel the law is too restrictive in particular areas, however it works. The law serves its function as regulating our behaviour very nicely, and if it does not? We can alter it.

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