Bank of America Putting the 'Short' in Short Sales?

[Account Closed]

According to a Bank of America webinar last week, BOA is changing the short sale process.

BofA is “pre-approving†short sales before they are even listed on the MLS. This is much different from the “normal†short sale where we list the home, get a contract, gather all the paperwork, submit to the lender, and then WAIT. BofA is calling this a 'Cooperative Short Sale.'"<.i>

They believe that this process will allow them to close 10,000 short sales a month. To be even more bold, they declared they will be able to approve a short sale in 2 WEEKS?!

I've had a few good experiences with BOA, but on average, they're pretty terrible.

Anyone have any good B of A stories they'd like to share?

[Jay Feldman]

I cannot imagine BoA doing anything quickly or being anything other than a total PIA to work with. Yes there have been people who have had good experiences with BoA (myself included) but the seems to be a rare occasion. Personally I think BoA needs to be taken apart and sold off as smaller companies. The (and a number of other banks) are to big to succeed.