I have two short sales going--for five months. The first one we had to engage in a face down to get approval after the five months, by refusing to extend the contract. We got the approval at the last minute, on the last day of the extension. 9PM at night.
Wells Fargo, both of them: they also gave us someone who does not even come to work until 3PM our time. And it takes a five day period to even talk with someone.
On the other, we still have no contract after five months, yet they make everyone do everything, first, like get preliminary title and appraisals.
And they keep changing the rules in their favor as we get closer to what (I have yet to close either deal). The first thing was, after several months, telling us they would only pay 1% of sellers closing costs, now they tell us, just today, the buyer has to pay appraisaL even though the deal they were looking at was $5,000 below appraisal.
They also, after several months, said they would pay for no repairs. When I questioned the banks constant rule changing I was told" "we are learning as we go along".
Well's Fargo also needs 10 times as many people as they have. 20% unemployment and they are understaffed. I tell my Republican coworkers: "this is why we need government regulations".
An unbrideld corporate rule of this country (where we are headed) is the greatest danger facing this great democracy. Not a democratic government. |
