Wednesday, October 5, 2011

Bank of America Finally Admits Failure

Bank of America has finally decided to shut down its mortgage lending division, according to today's news item in the L.A. Times. SHOCKING. NOT.

But let me get this straight....Bank of America 'acquired' Countrywide a few years back. Tried to run it, couldn't get its act together. Decides to sell it. Nobody was buying (Another SHOCKER). So what happens next?

For other people, that's about the time they'd get foreclosed upon by Bank of America. But lucky BofA, they just get to shut it down and claim they're working on reassigning* all their employees. 

So...what does this mean for Margaret Hintz? What does this mean for her house, which remains in limbo? Now that Bank of America is shutting down its mortgage lending division, does that mean it's now a ghost...stuck in the gooey protoplasm between life and the hereafter...it's not in foreclosure, but there's no reinstatement of the mortgage. Does it just sit there, in limbo, for the rest of eternity?

*(A warning to Dionne, DeMond, Terrence, Linda, Allen, Rachel, Kimberly, Jennifer, Chris and all the other dozens of people I've registered phonecalls with at Bank of America over the past year and a half in my persistent effort to help you clean up your act and do the right thing in regards to the way completely bungled up the finances and housing situation of one little old lady in Coos Bay, Oregon..... do you really think he's going to find you another job in the company? Do you really think people have any faith left in the company that gives you your paycheck every month? Do you really even want to work for this institution any longer? Well, I hope your mortgage is all paid up.)

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