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Bank of America as bad as Countrywide

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hakrjak

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A few months ago I told you guys a story about how the right hand didn't know what the left was doing at Countrywide.... They turned me down for a loan on an investment property, I went through a local broker who ended up selling the loan to Countrywide within 30 days of my closing, so Countrywide ended up with my loan anyway....

Well, Bank of America is now trying to aspire to the same level of stupidity as Countrywide. Get this -- They are basically turning me down for an investment property loan, however -- they granted me a $30k line of credit the same day, in addition to about $60k of available credit I already had on credit cards with them. I'm going to end up buying the house with their money even though they wouldn't give me a mortgage, and instead it's just going to be on unsecured lines and plastic....

If they were only a little smarter, they would have SOME recourse or backing by Real Estate for the money that is about to be borrowed....

Can you say WTF?

Cheers,

- Hakrjak
 
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Piyv voni zua'mm jewi vu vimm vjin vjev vji cemepdi jet ciip qeof ugg. :tnah2:
 
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Stop Peeking Through the Keyhole.
Open the Door.

You hit a wall because the best advice isn't free—it's earned. Since 2007, MJ DeMarco has been active here daily (99.9% active rate), building a war room for entrepreneurs who refuse to settle for mediocrity.

  • Active Daily: Life-changing content posted dozens of times every day. No dead threads.
  • MJ's Inner Circle: Direct access to the author of The Millionaire Fastlane.
  • Vetted Network: Connect with founders scaling to 7 and 8 figures.
  • Proven Roadmaps: Strategy over motivation. Execution over "hustle porn."
"SCALED TO 6-FIGURE MONTHS"
"Tips and advice here saved me from huge mistakes, others allowed me to scale my business to 6-figure months."
— User MitchC
"INSANE QUALITY OF PEOPLE"
"The number of high quality people I've met from this forum has been insane. All of it predicated on building real value."
— User Richard Peck

"You are the average of the five people you surround yourself with."
Are you surrounding yourself with success?

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