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B.O.A. customer rep: "Oh my I'd have to say close to 90% of the people/ problems

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posted on Jun, 28 2010 @ 09:28 PM
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Just a real quick bit of info I found alarming.
I had to call B.O.A. today because in their infinite wisdom, they have shutdown the only local office near me where I was making my mortgage payment.
I ended up with this organization after it assumed my loan.
(No I'm not one of the high risk bad credit loans)
After talking with the young lady located in Texas and getting the info I needed to keep making payments to "someone somewhere",
I asked her, "If you dont mind me asking, how are you seeing things, what's your opinion on the housing and payment problems"?
Her answer without missing a beat,
"Oh my, at least 90% of the people calling in are having serious problems",
'more and more people are calling in every day, with loss of income and jobs,
I dont see it getting better anytime soon, there's programs in place to help people stay in their homes, but not everyone qualifies and it takes up to 6 months because the applications are so many".

I just thought I'd share this, maybe someone needing help who hasnt called for whatever reason, may benefit from knowing that the sooner you call the better if the line is that long.

Very upsetting, not ALL the people that have loans with BOA are deadbeat value inflators I'm sure.

HEA

[edit on 28-6-2010 by HappilyEverAfter]

[edit on 28-6-2010 by HappilyEverAfter]




posted on Jun, 28 2010 @ 09:40 PM
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I'm an asst mngr with a large, national, retail, farm supply store. We have seen a large drop in sales and large purchases over the last 2 months... and reinforcing a trend from last year.

All across our district and even region...the sales forcasts are falling short. People are looking for every deal, switching to cheap no name brands for feed and supplies, and simply are not buying or are not being approved to buy the large ticket items like Zero-turn Mowers.

What we are seeing is a sharp increase in home gardening and small livestock...ie chickens, goats. People are going back to the basics and raising their own food.

Everybody feels intuitively that things are only going to get worse. Many mention that they remember the stories told to them by their grandparents and parents about the depression...many are afriad that that is the route we are headed.

Not to start a fire, but with many of our customers...be they white, black, hispanic...Mr.Obama is a very unpopular man.

We have many people returning merchandise just to get their cash back, we have folks asking for the scrap metal in our dumpsters so they can sell it, we have people getting the wooden packing crates out of the dump bin, and our incidents of shop lifting are on the rise.

Hard times is coming....



posted on Jun, 28 2010 @ 10:01 PM
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if people want to really know "how things are going" all they need to do is talk to their local merchants.

Thanks for the find HEA and a view from one of those merchants Alreadygone...



posted on Jun, 28 2010 @ 10:11 PM
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Ya...and the dumb$hit media outlets are still reporting this as a fricken recession. WE ARE IN A DEPRESSION!

[edit on 28-6-2010 by solarstorm]



posted on Jun, 28 2010 @ 10:21 PM
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Originally posted by solarstorm

Ya...and the dumb$hit media outlets are still reporting this as a fricken recession. WE ARE IN A DEPRESSION!


You know what, TV is entertainment, nothing more nothing less.

You do not have the right to be told the truth by TV.



posted on Jun, 29 2010 @ 06:56 AM
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I didnt get an answer as to why shut down the local office ,
of course she didnt know, it makes no sense, the place was constantly busy, why make it harder.
Layer upon layer of logic lost in this company.



posted on Jun, 29 2010 @ 07:24 AM
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I keep telling everyone that the middle class is being systematically dismantled.

No, it's no longer dead beats and lazy MF's it is the 9-5 person whose job is being outsourced and or those who can no longer find work.

People want to work, our corparations (which own our government) have sold the average person out.

The trickle down theory does not work.

The rich are getting richer at the expense of everyone else.



posted on Jun, 29 2010 @ 09:00 PM
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Outsourced is a nice phrase for eliminated.
Seems to me that making it more difficult to get your payments in also increases your chances of making late payments or none at all, now times that by however many other locations theyve closed.
I'll have to say theyre the nicest most caring disconnected aloof train wreck of a bank Ive dealt with, too bad failing seems to be part of their mission statement



posted on Jun, 29 2010 @ 09:15 PM
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reply to post by HappilyEverAfter
 


It's all about the money. By cutting down several outlets...you cut labor and all the expenses that go with it. You cut the electric and heating bills. you cut the taxes and maintainance once the location/property is sold.

This could amount to hundreds of thousands and even millions of dollars annually. That is why many businesses are consolidating operastions and locations...even the Postal Service.

Further, in times like these, you must conserve every dollar. If you could cut one location in ..say, each of 10 districts/regions, and that closing saved 1 million dollars a year...you just saved the company 10 million dollars.

Every week, I sit in on a conference call...

the first thing up is sales...did we make sales projections..and if not...what are we doing to turn them around.

...the second thing is paytroll. Are we making payroll and staying in the budget/projections. If sales are down...cut payroll. If sales are good...NO OVER TIME...NADA.

Each week, the stores not managing their business are hammered for too much OT, going over payroll, and not making sales.

Our store does a good job, but it gets really tight. But it breaks my heart to have to cut hours...I have some people using this part-time job as full time and trying to make a living. Some are working 2 part time jobs...and everybody, myself included does something on the side to make some extra cash...ie farming, lawn work, firewood, livestock, mechanical repair, fireman, etc.



posted on Jun, 29 2010 @ 09:23 PM
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I know this is not totally related, but I have visited the workforce center in two towns near I live. Today I visited a workforce center asking for help to find a job and the place was so busy with people that I could not find a place to park and I had to park on a side street. There are so many people looking for jobs and it is really depressing to see so many people are all looking for jobs.



posted on Jun, 29 2010 @ 09:27 PM
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reply to post by AlreadyGone
 


Seeking that constant growth over last year in times like this doesnt help matters.
It puts unrealistic pressure on down markets and build false hope in share holders.
Suppliers and inventory have the same problems put against them as well and when corporate puts all their eggs in one pacing against last years numbers basket, its a recipe for frustration and let down.
I'm right there with you brother.



posted on Jun, 29 2010 @ 09:31 PM
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Related Article,its happening here too,and we are supposed to be the 'lucky country'.

Homeowners 'living on rice' to pay mortgage

By Western Sydney reporter George Roberts

Posted 6 hours 9 minutes ago
House roofs in Australian suburbia

A new report shows some families are cutting back on meals to pay their mortgages (ABC News: Giulio Saggin, file photo)

There are claims that Australians suffering mortgage stress are living on rice so they can avoid the shame of losing the family home.

In a study partly supported by the Reserve Bank, University of Western Sydney researchers interviewed people suffering mortgage distress.

University spokesman Professor Phillip O'Neill says shame prevented many people taking part in the study.

But he says of those who did participate, some had resorted to eating less so they could keep up with mortgage repayments.

"This is not in the past tense; people are literally eating the bare minimum - just rice - obviously looking after their children, but putting the repayment of the mortgage above every other thing that they could possibly devote an expenditure to," he said.

He says the Federal Government should be careful about overstating how easily Australia got through the crisis when so many people are still struggling.

But he says the drastic moves my some homeowners has helped prevent the kind of mass mortgage defaults seen in the United States, during the global financial crisis.

"If we did have large-scale defaulting in a neighbourhood in Australia, we would have a toxic affect spreading of negative equity and that would be alarming," he said.


Link,,www.abc.net.au...



posted on Jun, 29 2010 @ 09:50 PM
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I know someone that works for a mortgage company and collects the mail from the post office.

They went from 4 mail boxes(po boxes) down to one

And its full every day to the point no more payments are able to be put into the po box. the post office just put them in a bin till they get around to putting them into the box.

This is now a money maker for the mortgage company because your check may have got there but could not be put into the po box until after your due date.
Then they can charge late fees.

and they know this is happening because they did it on purpose



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