Here is some interesting news from one of the largest banks in the country. I can personally attest to the nightmare of doing short sales with them. Deadlines routinely missed, employees that really don't care. One of my good friends and clients just lost their $8000 tax credit because it took B of A 9 months (that's right), 9 MONTHS to process paperwork.
There are millions of people out of work and the bank took billions from the tax payers and they can't either hire enough people, or otherwise make it go right to get a deal done in 9 months?
Anyway I find it interesting that they now have to "freeze foreclosures" to do an internal audit of their foreclosure process to make sure there were no errors. But of course it only applies to current foreclosures so they can “amend all affidavits in foreclosure cases that have not yet gone to judgment.” This of course begs the question what about the thousands that may have been erroneously kicked out of their homes already?.
Anyway here is the article. Enjoy!