Tuesday, December 22, 2009

New or Old Tactics Being Deployed by Banks Short Sale Department - Bad Faith

Are these new or old tactics being deployed by many Banks Short Sale Department to derail your transactions.  Some say they aren't equipped, others claim technology issues and there is the all encompassing statement, "I don't know?" which they use often.

Here are a few that are popping up today:
  • we can't find your authorization letter to speak with us.  (5 months into the short sale)
  • our systems are down
  • migrating systems
  • bad connection
  • I'll transfer you, music then CLICK,  you have been hung up on (after being on hold for 43 minutes)
  • transfer to ghost voicemail which is full.  (some negociators expressed the cant access or refuse to take calls)
What is the definition of "Bad Faith"?
Wikipedia defines as "Bad faith (Latin: mala fides ) is a legal concept in which a malicious motive on the part of a party in a lawsuit undermines their case. It has an effect on the ability to maintain causes of action and obtain legal remedies. Generally speaking, courts will not just look at the legal rights of parties in pursuing a transaction or a lawsuit, but will look behind the activity at the motives of the persons attempting to obtain the assistance of the court. If a court feels that the reasons behind the transaction or lawsuit have the effect of abusing the power of the law, or the court, it will generally deny a party the ability to rely on a legal remedy that they will otherwise be entitled to. It is related to the equitable powers of common law courts to look beyond the law.


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