Bank of America's HAFA program: THE BIG BLACK HOLE

And just when I was starting to have hope for Bank of America. Since implementing Equator things have really been moving along. What were formerly 6-10 month short sale approvals were down to one or two months. There was some confusion during the transition but overall, the end result was a change for the better. Things were moving right along.

Along came HAFA. Government's new streamlined 10 day short sale program- right??? RIGHT!!!!!

All of a sudden one day 3 of my clients that were close to approval in Equator were halted and I received this message:

"Per our system, the seller has received paperwork about the HAFA government program. Please note that paperwork has been sent to the seller directly and contains the HAFA government vendor contact information. Please note all questions and communication is to be directed to the HAFA government vendor assigned in the seller's paperwork. If this isn't something they are interested in, please have them call the vendor directly to have the campaign code removed or contact 877-452-3908 for details. Once the campaign code is removed from our system I can resume negotiations as usual."

Sounds simple enough right?

The problem is this...NO ONE EVER PICKS UP THE LINE!! One of my clients actually got through once and they said he qualified for the program...and then...NOTHING! No mail, no call, no contact. Weeks have passed. On many tries this line rings endlessly and drops into a voicemail box where messages go unreturned. To make matters worse agents are not allowed to call on behalf of their clients. It is a homeowner only line. There is only a single number to call. Regular Bank of America negotiators also cannot answer questions about HAFA, except to tell you to "call the number". So basically there is no one to call, no way to find out anything about the program, and no way to decline the program until you get through on the line. NOTHING BUT A BIG ENDLESS BLACK HOLE.

THANK YOU BANK OF AMERICA FOR YOUR FINE VENDOR SELECTION.....

BUT MOST OF ALL THANK YOU BIG BROTHER FOR ANOTHER FINE PIECE OF GOVERNMENT INTERVENTION! 

I KNOW YOU MEAN WELL, BUT ISN'T IT TIME TO ADMIT YOU DONT HAVE A CLUE AND JUST DECIDE TO STAY OUT OF BANKING...REAL ESTATE...THE PEOPLE'S PRIVATE AFFAIRS?

PLEASE???