http://www.biggerpockets.com/blogs/823/blog_posts/4340-bank-of-america-experiencing-a-short-sale-backlash-#comments Comments from 'Bank of America Experiencing a Short Sale Backlash?' in The Art of Short Sales at BiggerPockets.com http://www.biggerpockets.com/blogs/823/blog_posts/4340-bank-of-america-experiencing-a-short-sale-backlash-#c_4209 http://www.biggerpockets.com/blogs/823/blog_posts/4340-bank-of-america-experiencing-a-short-sale-backlash-#c_4209 As a full-time Pre-foreclosure Investor Buyout specialist, I personally have found Bank of America to be among the most difficult to deal with. http://www.biggerpockets.com/blogs/823/blog_posts/4340-bank-of-america-experiencing-a-short-sale-backlash-#c_4212 http://www.biggerpockets.com/blogs/823/blog_posts/4340-bank-of-america-experiencing-a-short-sale-backlash-#c_4212 BofA is slow, but so are most every Lender. You must be willing to jump through the hoops. I know that this type of whining gets you no where. http://www.biggerpockets.com/blogs/823/blog_posts/4340-bank-of-america-experiencing-a-short-sale-backlash-#c_4213 http://www.biggerpockets.com/blogs/823/blog_posts/4340-bank-of-america-experiencing-a-short-sale-backlash-#c_4213 I thought the comments from the original blog post were interesting. Some posters were with you James (and I in a way am as well) in that the whining just wastes time. On the flip side, other posters believed that this type complaint would actually register in the upper echelons of the mitigation departments. I don't have the long-term experience with BofA so I'm not sure if they have always had this reputation - however I tend to think with the influx of short sales and the acquisition of countrywide they might just be behind the 8-ball in terms of staffing and are having a hard time getting caught up. Although a couple years is a while to try and correct, right? Thanks for the comments! http://www.biggerpockets.com/blogs/823/blog_posts/4340-bank-of-america-experiencing-a-short-sale-backlash-#c_4215 http://www.biggerpockets.com/blogs/823/blog_posts/4340-bank-of-america-experiencing-a-short-sale-backlash-#c_4215 I really do not think it has anything to do with a bad reputation. Every Lender has been hit with so many property owners wanting to perform short sales, that they have been unprepared. One point is this: Realtors do not really spend as much time on getting short sales accepted, as an investor. Plus, most do not really fully understand the process. http://www.biggerpockets.com/blogs/823/blog_posts/4340-bank-of-america-experiencing-a-short-sale-backlash-#c_4768 http://www.biggerpockets.com/blogs/823/blog_posts/4340-bank-of-america-experiencing-a-short-sale-backlash-#c_4768 Bank of America is reserving the right to pursue deficiency judgement after a short sale. Sellers are refusing to do short sales and are filing bankruptcy which causes BofA even more losses. The morons at Bank(rupt) America should figure out that their policy is casing them more losses. http://www.biggerpockets.com/blogs/823/blog_posts/4340-bank-of-america-experiencing-a-short-sale-backlash-#c_4769 http://www.biggerpockets.com/blogs/823/blog_posts/4340-bank-of-america-experiencing-a-short-sale-backlash-#c_4769 Many banks are probably understaffed to handle short sale volume. It is interesting that BofA is by far the greatest source of frustration across the web in Blogs and Forums. It is a corporate culture and attitude that also runs into mortgages and credit cards. A Short Sale should typically result in lower losses versus a foreclosure. Some have that figured out, and some have not.