Quick, everyone who is in a delayed escrow now, bust out with your iPhone and make a music video! Trust me, it will work. Just ask these clever and musically talented buyers who were waiting FOREVER for their loan to close on their new place. Despite high credit scores & perfect buyer profile, Bank of America kept stalling and stalling on closing their loan. So, at their wits end,this couple made a little music video (more like a video plea) to get BofA to take action...and guess what? It went viral and Bofa followed thru!
*Foreclosure via Facebook. Banks now serving papers thru social media. Just another reason to increase your privacy settings! [via Time.com]
*Subprime lending roars back with a vengence! Is history doomed to repeat itself? [via HuffPost]
*Contrary to popular reports from Perez Hilton to Huffington Post, Carnie Wilson of 90's pop trio Wilson Phillip's fame (and recently featured in Bridesmaids) is not in foreclosure. She says "My house is not in foreclosure. My house is in a short sale." OK, she's not in foreclosure. She's in pre-foreclosure. [via Zap2it]
These buyers in Naples paid all cash for their house, but the clowns at Bank of America tried to foreclosure on them anyways. Even though the courts decided Bank of America was in the wrong, BofA still wouldn't pay the buyers' attorney fees (a measily $2534). So buyers brought in lawyer, moving trucks and armed deputies to try and foreclose on the local BofA branch! (More details here at AG Beat.) Hooray for those buyers! And shame on Bank of America! Tsk Tsk!
Well at least the owners didn't try to bulldoze their own house like this guy from last year. Remember this webcast?
Depending on who you ask, mixing business with pleasure is sometimes called networking....and sometimes it is called a train wreck! There are definite pros and cons to using a friend for business. Read my advice column for this reader on 365gay LogoTV Online.
Question: For our loan, should we use our banker down the street? We’ve known him for years so we trust him. But should we still shop around? – Jillian in Alabama
Have any of your friendships soured over a business deal? Let me know. Gimme the gossip!
Do you think those greedy banks are going to unleash all the foreclosures they are sitting on? Think again!