Real Estate's Love Hate Relationship with Bank of America...
By Emily Rose Newmark
(Keller Williams Realty)
Anyone who's ever been a party to a short sale transaction in recent years where Bank of America holds the lien knows the frustration of trying to navigate a tiny vessel through the huge choppy ocean called B of A loss mitigation dept. Or heaven forbid you were a buyer or agent using them on your purchase! Last year I had a couple cookie cutter loans take 3 months to fund on purchase escrows with B of A!! I swore I'd never get involved in an escrow with them again...Unfortunately they are a HUGE entity and my total avoidance didn't last too long before I was forced into business with them yet again. My last dance with Bank of America was this year as a listing agent where the buyer insisted on using B of A for their financing on our 30 day escrow and it took 4 weeks before their appr...
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