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Originally Posted by Jamci  I was approached by a realtor yesterday...not one of the better realtors in my area.....She threw a flyer on my desk from Bank of America saying that if I can't offer this program to her borrowers, she would have to take her business elsewhere.
(I didn't say it...but she's good for one closing maybe every three months and there are all sub prime and hard work. I get alot of stuff from her that I just can't do and won't waste my time doing.)
Anyway, the flyer refers to "Community Commitment Program"
100% Financing, one loan, No MI, no credit score requirement, 6.5% 30 yr fixed. They will pay for the homebuyer education class.
I've called a rep from BoA but he has yet to be heard from.
Anybody heard of this program? Anybody use BoA? We are in WV, PA, VA, MD. |
Let me give you a broader and deeper viewpoint oin this. For my entire career, Bank of America has been one of the most unreliable residential real estate lenders out there. They'll buy up a mortgage company or two, infect them with their
overly conservative and less than responsive bank culture, then close them down. They pop into the market and out again ALL THE TIME - theyll be jumping out of the market AGAIN pretty soon ... my guess? Probably by next Summer.
