- Report: #759907
Complaint Review: Bank of America - Internet
Reported By:
Katherine Reynolds -
Delavan, Wisconsin, USA
Submitted:
Updated:
-
Author Not Confirmed
Why?
Bank of America
Internet, United States of America
Phone:
877-432-1000
Web:
Bankofamerica.com
Categories:
Business Rating:
(0)
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Bank of America After receiving billions of dollars in federal bailouts to help consumers, Bank of America apparently feels no obligation to make the most basic affirmations about their business ethics Internet
I attempted to contact a Bank of America mortgage person after purchasing a short sale house technically owned by Bank of America. After literally months of being unable to even talk to (or locate) a person, I filed an online complaint through the CAG. Every Bank of America contact number I found required you have an account number, then would disconnect if you didn't have it. I was mainly attempting to determine the date that they had agreed to my offer to purchase this house, and if they "could change their mind at anytime" (operative phrase) and withdraw their acceptance as I was informed by my realtor. (She apparently said this to discourage my getting an early inspection which would have caused me to walk away from this wreck. Finally received call from someone at location of BOA CEO office, saying someone would be in contact with me within a couple days, and they provided a name and phone number. After a week I started calling. After more than a month I received a call from a different person informing me that they couldn't give me any information about the property I purchased, including the date they accepted MY offer. I was told to get it from the realtor- who wouldn't give it to me. This was all in the name of "Privacy Laws." (All I finally requested was the date they accepted MY offer). Finally I asked if they could simply make a generic statement that "BOA would not typically cancel an accepted contract arbitrarily." At first she thought they could provide that. (Duh...) Then I got a letter by mail stating that BOA "values and guards their customers' privacy, (etc)". And they did not have "authorization related to you on file for this account." Then an apology for their "service" not meeting my expectations and to contact her for additional questions etc.
Therefore, let it be known to all that Bank of America is unable to provide any statement that they will not arbitrarily cancel an accepted contract even if there is nothing adverse against an approved buyer. Therefore, no one, upon learning of this, should even consider purchasing a '"short sale" property owned by BOA. And they are "too large to continue" their astounding practices- please stand against inefficiency, a complete disregard for customer service and arrogance in knowing they can get away with even lip service to ethical business practices and the consumer has absolutely no recourse.
Therefore, let it be known to all that Bank of America is unable to provide any statement that they will not arbitrarily cancel an accepted contract even if there is nothing adverse against an approved buyer. Therefore, no one, upon learning of this, should even consider purchasing a '"short sale" property owned by BOA. And they are "too large to continue" their astounding practices- please stand against inefficiency, a complete disregard for customer service and arrogance in knowing they can get away with even lip service to ethical business practices and the consumer has absolutely no recourse.
3 Updates & Rebuttals
Karl
Highlands Ranch,Colorado,
USA
HAMPy-TARPy SONG....
#2Consumer Comment
Wed, August 03, 2011
is available at this website!
Just type in 646259 and it appears as 'Consumer Comment #50' at Ripoff Report #646259.
Thank You
WELCOME TO THE PUBLICLY HELD BANKS IN AMERICA- WE CONTROL THE U.S. GOVERNMENT AND WE TRICKED PEOPLE INTO BELIEVING THAT THE HAMP PROGRAM WAS GOING TO HELP THEM AND THAT THE TARP PROGRAM WAS GOING TO HELP THE FORECLOSURE PROBLEM IN AMERICA, BUT BOTH PROGRAMS WERE DESIGNED TO MAKE THE CORRUPT WALL STREET BANKERS BILLIONS OF DOLLARS IN PROFITS
Katherine Reynolds
Delavan,Wisconsin,
USA
Bank of America practices
#3Author of original report
Wed, August 03, 2011
Yes, I understand "short sale" but since the owner paid nothing for 2 years, it still belongs to the bank. (Ask people who are living in cars and weren't allowed to stay in their home). Yes, I understand privacy. As the buyer I certainly have the right to know when my offer was accepted. I bought the house months ago so realtor a thing of the past but her actions another whole story, in an effort to dump this listing. However, when a bank makes it impossible to contact anyone for the simplest question or a yes/no, after months of attempting to reach them (calling branches, calling BOA mortgage agents, calling from the phonebook, etc), I'm sorry, there is a problem. And refusing to make a statement that they wouldn't arbitrarily cancel an accepted contract for no known reason...ridiculous. So you go to a new car dealer, are approved, and awaiting final paperwork. Then the dealer says, "I'm sorry, our horoscope says we should not honor any contracts negotiated on that day." Or Boston Store cancels the living room set because they think my room colors will clash. Oh, come on.... They wouldn't be getting billion dollar bailouts or remain in business.
Robert
Irvine,California,
U.S.A.
If there is any RipOff
#4Consumer Comment
Tue, August 02, 2011
It looks like it is your Realtor. They work for you and if they won't give you the date that BofA accepted your offer then it is time to find another Realtor.
It doesn't appear as if you know how Short Sales work, and again this may be the fault of your Real Estate agent. First of all if it is "technically" owned by the bank it is not a "Short Sale", it is probably an REO/Foreclosure.
To be very straight with you the legalese you are talking about gives them the right to "back out" of the deal, and is in every single agreement they use. You will also find this same statement with any other lender, so it is not BofA specific. But if your offer was accepted and you are meeting the contingencies on-time then for them to actually "back out" would be the exception and not the rule. And the further you go down in the process the less chance that they will.
As for the privacy issue, again this is something that is standard. If they don't show you involved with this property they are not going to release any information to you.
