SUBMIT A COMPLAINT

Bank Of America / Countrywide Home Loans / closing documents

United States Review updated:

Hello, if anyone is listing or looking to sell a home and has a Countrywide Home Loans mortgage (now Bank of America) your sale may be in jeopardy, even if there are no issues with your contract or buyer.

The reason is that the ownership documentation required to close is borderline impossible to obtain from them. We have had a signed conract from an approved buyer and Countrywide is unable to find our stock certificate, proprietary lease, or lien. From what our lawyer said, this is commonplace as they have been a complete disaster since the acquisition.

The typical timeframe from doc request (at the time you sign a contract) is 6-8 weeks and then schedule a closing. If your buyer gets antsy, they can submit a 30 day notice and walk away. We are at that stage given it has been 11 weeks since we requested our documents with no indication from anyone at BofA as to when we should expect them.

Just think, the entire hard part is done (listing, price negotiation, selling, and buyer approval) to have bank that either:

1) Cant find your documents needed to close
2) doesnt care to find your docs

Our lawyer says that we can sue them for our mortgage if we lose our buyer which looks like it will happen. thats exactly what i wanted to do- spend my next few months in a lawsuit.

No wonder some people just wak away, this is just a heads up for anyone else in our situation as we have called into the highest levels of BofA and nobody there cares.

Sort by: UpDate | Rating

Comments

  • Jo
      10th of Dec, 2009
    Bank Of America / Countrywide Home Loans - MY HOME SALE,WHEN DOCUM.STILL PENDING ON(MHAP)
    BANK OF AMERICA
    3636 HAMLIN PLACE NORTH.LAS VEGAS,NV.89032
    North Las Vegas
    Nevada
    United States

    I HAVE A HOME LOAN WITH FORMER CONTRY WIDE HOME LOAS:NOW BANK OF AMERICA. ABOUT 2 MONTH AGO, BANK OF AMERICA OFFERS CALL ME TO TELL ME THAT: I WAS PRE-QUALIFIED FOR THE OBAMA PROGRAM(MHAP) THAT I SHOULD TAKE ADVANTAGE OF IT. 3 DAYS LATER I RECEIVED THE FULL PACKAGE FILLOUT AND SEND BACK TO THEM IN THE SPECIFIED TIME THEY TELL ME, INCLUDING ALL THE DOCUMENTS THAT I SHOULD INCLUDE, INCLUDING MY FIRST OF 3 TRIAL PAYMENTS. AS FOLLOWS: 11/01/09, 12/01/09 AND 1/01/10. THEY RECEIVED MY FIRT PAYMENT AND DOCUMENTATION ON 10/26/09. BUT THEY NEVER CHANGE A SALE DATE ON MY HOME POSTED FOR 11/13/09. THAT DAY COME ON AND BANK OF AMERICA SOLD MY HOME. AFTER ALL DOCUMENTATION AND FIRST PAYMENT WAS SUMITED. SINCE THAT DAY I HAVE TALK TO SO MANY DIFFERENT PEOPLE IN DIFFERENT DEPTS.OF BANK OF AMERICA, TO FIND ONLY CONFUSION AND IGNORANT PEOPLE THAT THEY TELL ME DIFFERENT STORIES, PROMISES TO FIX THE PROBLEM, WITHOUT RESULTS UNTIL TODAY. YESTERDAY 11/09/09, I RECEIVE THE EVICTION LETTER FROM THE LAW OFFICE THAT WAS IN CHARGE OF SELLING MY HOME, IN COMPLETE VIOLATION OF "THE MAKING HOME AFFORABLE PROGRAM" IF ANYBODY KNOWS HOW TO GET HELP LET ME KNOW: [protected]@AOL.COM

    0 Votes

Post your comment