1. Come check out hundreds of awesome coop pages (and a few that need suggestions) in our 2018 Coop Rating Project!

B of A unethical?

Discussion in 'Random Ramblings' started by debilorrah, May 9, 2011.

  1. debilorrah

    debilorrah The Great Guru of Yap Premium Member

    Let me explain. A co-worker of mine and his wife found a house they love and it was short sales. B of A kept turning down their offers for really stupid and strange reasons. A total 14 times they rejected their offer of $180k.

    Last Friday, the bank foreclosed, put it up for sale and it sold in five minutes. For $120k. Does that sound fishy? Because it sure does to me. Reject 14 offers for 60K MORE than you sold it for??

  2. speckledhen

    speckledhen Intentional Solitude Premium Member

    Pretty much sounds normal to me in today's market. Really. My son's townhouse is in short sale and the antics being pulled are unbelievable. It's absolutely insane and stupid.
  3. desertdarlene

    desertdarlene Songster

    Aug 4, 2010
    San Diego
    Wow, that makes the bank look stupid. The government does the same thing.
  4. aggie9296

    aggie9296 Songster

    Jan 28, 2011
    Panama City, FL
    i think all short sales are fishy, no matter the bank.
  5. debilorrah

    debilorrah The Great Guru of Yap Premium Member

    Quote:The sellers actually have an attorney that was working on the short sale, and I believe B of A made a mistake in this case and it WILL come back to bite them. I was just shocked that they could do something like that!!!!
  6. sourland

    sourland Broody Magician Premium Member

    May 3, 2009
    New Jersey
    It would be interesting to know if there are any bank "connections" to the purchasing party.
  7. benjoycei

    benjoycei Songster

    Mar 4, 2011
    B of A is good at lame excuses
    Last edited: May 9, 2011

  8. McGoo

    McGoo Songster

    I do not like banks or oil companies, but maybe the purchaser for 120K was way less of a credit risk? therefore the bank felt that they had more of a chance to not have another foreclosure??? just wondering... not sure. There are so many crazy reasons why they don't sell at a higher price and/or come down in price... and then they're in foreclosure and getting sooo much less. Do they get a special government discount when it goes to foreclosure?
  9. debilorrah

    debilorrah The Great Guru of Yap Premium Member

    Quote:My co-worker was pre-approved for $180k
  10. McGoo

    McGoo Songster

    I know that my son had this type of thing happen over and over in CA and you'd think they'd want more money, but no, they waited for foreclosure. Must put the house into a different bucket for the bank. They don't care about anything but if they're making money, so it must be something like that.

BackYard Chickens is proudly sponsored by