In this business of Real Estate, I’ve had a number of sound reasons to delay the closing of a home purchase. But never as lame as the one I recently received from Bank of America. We will need an extension ‘. . . due to the volume of purchases we working on right now’. Yup, they are just too busy to process and will be for apparently 10-15 days. This after being told that we were on target to close on time just a few days earlier. Loans take time to process and I’m certain this volume didn’t materialize overnight so close to our closing date. So, I must ask; How could they not see this coming? Why did they make the decision to not take preventative actions? Why did they choose to withhold this information until mere days before closing? It can only be assumed that this is affecting many other potential home buyers as well. Bank of America has been in this business for many years so to treat so many customers with this blatant disrespect only reinforces the notion that they simply don’t care. They don’t care if you have a home to call your own. They don’t care that you now have to find a place to live until they find the time to process your purchase. They don’t care about that you now have to rearrange your moving plans, put your belongings in storage, reschedule movers or that this will cause you a great deal of stress. They simple don’t care. Now, you may think I’m being a tad harsh, but our closing date has passed and B of A has yet to reply to emails or respond to phone messages where I have simply requested an update.
So, we wait. No closing date to plan around. No reaction from B of A. We have to just wait for them to find the time to process the purchase. So if you're in the market for a lender for a purchase or a refinance, and don’t want this to happen to you as well, I strongly suggest that you think twice before calling Bank of America for your lending needs.
