Comment

Comment by Elena H. Lobito on February 2, 2012 at 5:11pm

Need a suggestion from you all.

I am on my 3rd Buyer for an Indymac Short Sale. The 2nd loan on the property is a HELOC that was never used and has a zero balance.  When we received initial approval for the short sale for Buyer No.1, and again for Buyer No. 2,  the IndyMac Short Sale Approval Letter referenced BOTH loans. 

The IndyMac approval letter for the 3rd Buyer reflected ONLY the 1st Loan and no reference was made to the 2nd loan.  ServiceLink for Indymac tells us that they do not show a 2nd loan so they can't change their Approval Letter to add the 2nd loan information.  However, in the Title Records, both loans show up and Title will not close without confirmation that the 2nd loan is closed. 

We had the Seller go down to a local branch to request a letter from IndyMac to confirm that the 2nd loan is CLOSED with a zero balance.  This process, we are told, will take several weeks and Indymac will only mail the letter to the Seller after Seller receives a fax from Indymac for information to process the request.  We are in limbo as of this writing and our close date is scheduled for February 10th.  I have asked for an extension and hopefully will get an extension for at least another week.  Does anyone have a phone number at Indymac that perhaps can help me with expediting a letter that the 2nd Loan is closed.  Hope I explained the circumstances clearly....let me know if you have a suggestion.

Comment by Sally Nuñez on July 21, 2011 at 3:33pm

How long is Indymac taking on Short Sales these days??

Comment by Mellissa Young-Ramirez on July 3, 2011 at 2:19am

Joseph, I agree :-)

Comment by Joseph C. Alfe on July 2, 2011 at 12:58pm

Melissa, give that to the sellers attorney who can write one west and tell them to shove it per federal HAFA guidelines.

 

Comment by Mellissa Young-Ramirez on July 2, 2011 at 2:40am

Onewest just sent a client a bill for $25000, not even 3 weeks since the HAFA short sale closed.

Comment by Mark Smith CDPE SFR on July 1, 2011 at 10:02am

Closed my transaction yesterday.  Was able to get 6%.  Escalated to a vp and they paid it.  Thanks Mellissa.  Personally I don't believe any of the commission leverage by any of the servicers.  The banks will do anything to make us believe they can't pay us.  Persistence pays 6% every time.

Comment by Mellissa Young-Ramirez on July 1, 2011 at 4:57am

I noticed that ServiceLink will wait until the last minute and actually go beyond a deadline, before they come back and re-negotiate or move forward. Almost like playing poker. The 5% is because of ServiceLink involvement if I am correct. I have only submitted HAFA short sales and was able to advocate for the 6% by submitting ARASS offers.

Comment by Mellissa Young-Ramirez on May 15, 2011 at 1:28am

Catherine at OneWest proved to be a dream come true and just swept me, the buyer's agent, and the sellers, off our feet! with her patient, immediate and efficient responses. We will be closing our HAFA short sale within the next two weeks and not a moment too soon, thanks to her

Comment by Mark Smith CDPE SFR on May 14, 2011 at 3:42pm

great, congratulations!

 

 

 

Comment by Celeste O'Dea on May 14, 2011 at 9:23am

Mark, closed the IndyMac loan yesterday.  Thanks for the contact information, it was very helpful. 

 

 

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