Do They Really Know What They Are Doing?

A couple of weeks ago, I contacted Bank of America to try to stop 3 foreclosures on different properties where I had submitted offers about 4 months ago – and all this time they had not “had time” to assign a negotiator.  Usually, I need to call three or more times before I am lucky enough to find a person who really wants to help me and make the best of his/her time for the company they work for.

The first person who answered the phone told me that there was no way to stop the foreclosure unless the negotiator said so.  By the way, remember I still don’t have a negotiator?  Between calls, a negotiator had been assigned – who decided to close the short sale without telling anybody.

I hung up in frustration, and called back again.  The person who answered the phone this time told me that she cannot do anything.  I asked her to transfer my phone call to her supervisor, and she asked me to hold.  10 minutes later, she returned saying her manager was too busy, and after looking at the file her manager stated that the offer was too low and they needed one more than 30K higher in order to stop the foreclosure.  It was now clear that the only goal she had in mind was to get rid of my phone call and move on – the numbers did not make sense at all and were considerably higher than the outstanding principal.  I hung up again.

Calling for the third time, I reached someone who really wanted to work and do what she was being paid for.  After sharing my frustrations with her, she explained to me that her company received 400,000 short sale packages every week!

The numbers do not fit in my mind, but let’s assume it is accurate.  I said – with these kinds of numbers, the company must be hiring like crazy.  She said “Yes, indeed, they are hiring.”  But who are the people who are in charge of these files?  I realized that every time I make a call, I need to talk to at least three or four people before I find someone who really wants to work and deserve their monthly paycheck.  So how much are the banks losing for their lack of interest or ability to hire people who really care about doing their jobs right?  Employees who really care about the bank and have the knowledge to do the job.  Do they really know what they’re doing?

Tell me: are you hearing the same volume from your lenders?  How often are you speaking to the same person you spoke to in the past?  Do the people you talk to have the knowledge to be able to do their jobs, or are you training them – saving Bank of America the training expense?

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