Bank of America Customer Service

Bank of America Accepted Short Sale – but they say you still owe

After a few weeks of the multiple times per day barrage of phone calls from Bank of America I attempted to resolve this by calling them myself. The colossal comedy of incompetence a person has to suffer in order to get a straight answer from Bank of America is deplorable! As a Mortgage Loan Officer with nearly 15 years of experience speaking the language of mortgage lenders I can only imagine how impossible this experience is to someone without similar experience.

Obama: Subprime lending immoral, not illegal

Obama: “Subprime lending immoral, not illegal” http://ow.ly/6PE2P Today the president took a question from a  reporter who asked him why his administration had failed to file suit or enforcement action against corporate leaders for the 2008 financial crisis that ultimately led to numerous bank, insurance, auto-maker and state bailouts. To that the president replied… “If someone has engaged in fraudulent…

The Trouble With Trial Mortgage Loan Modifications

These days there seems to be no shortage today of people or politicians angry at mortgage companies.  Most however tend to be  customers of the nations five largest mortgage servicers; Bank of America, Wells Fargo Home Mortgage, JP Morgan Chase & Ally Financial. The source of anger tends to be  focused on  foreclosure, short sale request or loan modifications aka work-outs that never seem…

Underwriting Tip – FHA Buyer Financed Closing Costs

FHA Buyer Financed Closing Costs Financing of Transaction Costs for Real Estate Owned Properties (REO) Purchased under Federal Housing Administrations  $100 Down Sales Incentive Click for mortgagee letter/details  Related articles Underwriting Tip – FHA Gift Funds (theraleighmortgageguy.com) Buyers Receive up to 3.5% Toward Closing Costs from Fannie Mae! (theraleighmortgageguy.com) HELP FOR HOMEOWNERS…