This video is the successful appeal of one Georgia couple, Ken and Meredith Williams to convince Bank of America to finally close on the couple's home loan. The pair launched a no-holds-barred social media campaign against the bank, to convince them to close a loan that had been delayed for more than two months.
“All I want is to have a home, and a front yard for my garden gnome. Bank you’ve got to close this loan!” Williams sings at the end of the song. “We can sign the papers and grab a beer, then you take my money for 30 years. Bank you’ve got to close this loan!”
In late September, a senior mortgage officer told the Williamses that the $203,000 loan they had applied for to buy a home in Decatur, Ga., would close on October 31st, according to a timeline the couple posted on closeourloan.wordpress.com, a blog they created to broadcast their plight.
But after numerous delays, the loan was still pending as of mid-December. What's more, the couple was now being charged $50 a day by the home's seller for not having closed the deal earlier, WSB-TV reported.
That's when Ken and Meredith decided to make some noise: Ken made a theatrical appeal through a YouTube music video while Meredith banged the social media drums of Twitter and WordPress. She tweeted to @BofA_help, Bank of America's customer service Twitter handle, got her friends to send similar tweets, and created the "Close Our Loan" blog to host the couple's YouTube escapades and a timeline detailing their loan troubles.
"Why can't a house go fast when a buyer's got cash, preapproval and two cats," sings Williams, as he dances in front of a Bank of America office. "It takes time, obviously, a month or even two, but now we're looking at three!"
Ken Williams made the video on Saturday and posted it to YouTube on Sunday afternoon. By 10 a.m. on Monday morning, Bank of America called the couple.
He said the matter “escalated really fast” and the couple received phone calls from a representative of the bank’s CEO.