Local Real Estate Comments and Ramblings

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BANK OF AMERICA HAS THE GOLD AND IT RULES UNJUSTLY AND UNFAIRLY

A great post by one of my favorite bloggers.  And its not just Bank of America, it's just about all of the big banks and mortgage lenders.

In last several months I have had two short sale deals both at $40,000.  Both times the lender came back and said 6% commission was too much but they would allow 5%.  REALLY?  $400 is going to be the differnce in whether or not you approve the short sale?  Get real.

Forget the fact that the Bank of America is being sued for billions, that it had to be bailed out, that effectively foreclosed on hundreds of military personnel while they where serving their country, that they don't do loan mods but keep saying they do, that they foreclose on you without warning and demand you must be delinquent to get help

THEIR BUSINESS PLAN IS NOT HARD TO FOLLOW

Forget all that because that is not the point of my post. This bank is not a professionally run business yet it wants access to profits, gain and privileges that most other businesses have to earn. You see the Bank of America defies all the rules of doing business the first one being that their customers, the public should come first. This doesn't really matter to them. They just want your money plain and simple

THEY DO NOT RESPECT OR SUPPORT REAL ESTATE AGENTS

The other thing that stands out about this bank is the way they treat Real Estate agents. Licensed professionals who bring them buyers and try to hold everything together so that seller/borrower, agent, and bank can transact. It stands to reason that if they don't serve their own customers, Real Estate agents would fare no better.

RE AGENTS PLAY BY THE RULES AND WANT TO GET PAID

If they could come up with a way to get buyers without having to pay an agent, they would do so. The evidence of this is that they are constantly trying to beat agents out of their commissions for no plausible reason except that they can. Also, it is the agents  duty to make sure all the rules are followed and their clients are protected. The Bank of America doesn't like that either because it interferes with their free hand business plan

THIS BANK IS NOT OF AMERICA

The plain and simple fact, the truth that has emerged, the fruit hanging on this trees branches all say the same thing. HE WHO HAS THE GOLD RULES and in this case, a not so professional corporation who defies rules, regulations and business sense 101 is running rogue and rampant. It is a deliberate and calculated act.

THE  GOLDEN RULE IS A SERVICE BASED RULE

By contrast, Real Estate agents live and swear by the GOLDEN RULE which is to treat others the way you would want to be treated. It is in our pledge and we abide by it and believe in it. We are governed by morals and principals and then licensed to obey and follow set guidelines and rules. We do so gladly

HE WHO HAS THE GOLD RULE.... IS A FALSE RULE

HE WHO HAS THE GOLD RULES and the GOLDEN RULE as outlined in the REALTORS pledge are not and will never be on the same page. They cannot be. How can cops and criminals be on the same team? How can you lie and tell the truth? The bible puts it this way; How can you have fresh water and salt water coming out of the same tap? We will never see eye to eye because of this alone..... let alone their business model conduct

HITLER HAD THE GOLD, HE RULED AND HE HAD PUBLIC RELATIONS CAMPAIGN TOO

Hitler had a campaign of terror that was so effective that he had to start a marketing campaign to say other wise. To offset the truth of the mass murders, deportations, rapes, robberies, seizing of assets and the like, they had to show retirement camps where people were living in harmony. Women and children playing and of course sitting down to a hearty meal after a long work day

PLEASE DON'T STARE AT THE SUN, YOU WILL GO BLIND AND SEE NOTHING

While it is true that the public has a short memory, please, for the sake of the millions of people that have come under the thumb of this company and suffered and for the sake of your own sense of justice and fair play, do not aid or a assist Bank of America in trying to make you believe otherwise.

I respectfully demand that they drop the word AMERICA from their name right now

 


Richie Alan Naggar          Ran Right Realty       Riverside, Ca

Real Estate Broker and author of "PEARLS SERIES"...of practical personal reader centered books

Richie@RanRightRealty.com         Richie@Pearlsforthesoul.com

PEOPLE FIRST...THEN BUSINESS

*****

 

 


Bob Southard
Broker - Owner  Atlas Realty Service LLC #75911
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www.1PercentListingSolution.com

O:678-439-SOLD(7653)

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Comment balloon 5 commentsBob Southard • August 19 2011 10:43AM

Comments

Bob: With all the negative feedback on BOA here in the Rain and elsewhere, I hope they are monitoring and planning to make changes.

Posted by Anne M. Costello (Weidel Realtors) over 7 years ago

Anne,  that wold rquire sound business practices and reasonable thinking.  Not likely to happen anytime soon :-)

Posted by Bob Southard, e-Pro - Cobb, Cherokee, North Fulton (Atlas Realty Service, LLC) over 7 years ago

Bob...all your hard work in bringing a deal together should be encourage, celebrated and then rewarded. Punishing someone for doing good business doesn't pass the common sense test...High best to you Bob at Solid Source Realty

Posted by Richie Alan Naggar, agent & author (people first...then business Ran Right Realty ) over 7 years ago

In the interest of fairness.  I recieved a comment via Facebook that I want to share here.  It's from John Gay who is a very very top notch loan officer who also happens to be with BofA.

 

" Nice rant. Does the blogger realize that over 80% of the reos and shortsales are non delegated properties. Bank of America doesnt own the loans so they arent the ones making the decision. Fannie, Freddie, Pension funds, mortgage insurers and second lien holders call all the shots. Just an FYI"


So a lot of these issues might not be Bof A fault but whoever is the investor holding the note.  John,

Thanks for the information!



Posted by Bob Southard, e-Pro - Cobb, Cherokee, North Fulton (Atlas Realty Service, LLC) over 7 years ago

Hello Bob

I invite and appreciate balance only if it has relevancy. The argument of "I was only following orders" doesn't fit well with some people (multi-millions). Or "I just work here" doesn't deliver either. When a human is treated unfairly or unjustly stopping the "hurt" should be the priority. Explaining why it exists should take a back seat. It is called a moratorium if I remember correctly. I would be very impressed if B of A went public with this persons comment. Oh, one more thing...I have facts from the front lines supported by real people and not smoke screens. I call it truth and understandably so some call it rant. Perhaps that is why nothing changes..?

Thank you bob and well done

Posted by Richie Alan Naggar, agent & author (people first...then business Ran Right Realty ) over 7 years ago

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