I started the purchase of a home that is classified as a short sale and the lending bank is Bank of America. My offer was submitted bank in Nov. Last month I received word that BofA has had extreme difficulties with their short sale processes and have started some restructuring.in this restructuring, all of the data that was in the system was lost. We had to start from square one. The Seller is eager to sell the property as I am eager to move in. I have recently moved to this city and still reside in temporary housing 60 days after my initial close date. Bank of America has been slow to respond and has not given any information regarding the road ahead. My lender is ready to close. I have already had to float my interest rate lock and relock at a higher rate due to the delay. This is costing me a lot of money due to staff that don't take pride in thier jobs. All that we are waiting for is the Short Sale Approval letter and then the seller will be rid of the property, BofA will not have to expend additional resources to foreclose, and I will have a house that is nearly perfect for my family. If there is a representative with BofA that cares and can push this process through to completion, I would love to speak with them.
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