This past week we came face to face with a bank’s incompetence. Our son heard of a home that was supposedly in foreclosure. A sign said the home was in foreclosure and gave a phone number to call with BOA.
He contacted his realtor, and the realtor said he didn’t see how BOA could even be trying to “sell” the home as it is still in the homeowner’s name (she passed away 4 years ago...no family, no estate, and the house has been sitting vacant ever since.) They evidently contacted BOA but noone has any info.
My son and his wife really want to buy the house but it seems they’ve hit a dead end...I wonder if BOA even has title to the house. So it sits empty, BOA is paying for yard upkeep we learned from the neighbors and they changed the locks, but here is a prospective buyer wanting to purchase it, and no means to do so and noone they’ve been able to contact at BOA seems to be able to tell them how to proceed.
Strange goings on.
If they sell it for its true worth, they'll have to take the loss ON THE BOOKS, instead of keeping the charade going.