Indymac short sale frustration

[tc4gold]

Help, aaaaaaaagggggggggghhhhhhhhh.

In foreclosure with indymac on rental property, put in a short sale, told they needed more docs and if they got them at least 10 days before sale date they would stay the foreclosure pending review. Did what they asked, got it all in. Keep calling to find out status. on 8/26 was told they had ordered BPO and it would take 15-30 days to get that in and a negotiator assigned. Checked in again today becuase Aurora ignored the short sale I sent and foreclosed. Here are the notes from the call. I am going to try calling the numbers I found on this board from Austin.

Anyone got any advice here, I am about to tear my hair out. The short sale offer is slightly less than 50% of the balance owed but is at least 20% more than what the current market value of the property is and no other buyer has come forward with an offer of anything.

August 26^th, 2009 4.34pm
Darrel ID #663, ordered a BPO, it takes 15 days to get that and be assigned a negotiater and that time they should be able to stay the foreclosure pending negotiatons. Then the process takes about 30 days to fruition.
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September 1^st,
Joya ID#935 states this is an active short sale, BPO is not in, file is opened and they have to review all the documents and this takes time. Joya states that the foreclosure will not be put on hold while they review my documents

I asked to speak with a supervisor, Joya states that a supervisor will not help me, I insist on speaking with one anyway. I wait for 15 mins and she states she has been doing this job for 10 years and that the attorneys they hired are not correct when they tell me September 14^th is the sale date, she then states that it is a sale date and they will not hold the foreclosure and they will not look at the short sale package if that is the correct sale date because they do not have enough time. This is contrary to what anyone else has told me in the last weeks.
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It appears that she keeps contradicting her own statements.
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Joya states a supervisor is refusing to come to the phone and speak with me, she states that they will not be able to assist me with this call because they cannot put a hold on the foreclosure. She states that I should call the attorneys directly Shapiro and Kirsch 901-767-5566. She is stating she does not agree to any transcript I type and will not allow me to send her the transcript for verification she also refuses to allow the call to be taped.

[Evan Bedard]

Hi tc4gold,

Checked in again today becuase Aurora ignored the short sale I sent and foreclosed. Here are the notes from the call. I am going to try calling the numbers I found on this board from Austin.

Are you saying that Aurora(your 2nd lender) went ahead and foreclosed on your property?

[tc4gold]

Sorry for the confusion, no Aurora foreclosed on another property I had. I put a short sale package in and they basically ignored it and told me it was all my fault and I was completely to blame. I was using it as an example as to why I am continualy calling Indymac.

With Indymac I decided to call as often as I could to make sure that the same thing doesn't happen again and that they have everything they need to make a decision. this deal is an all cash offer as was the last one. There is a first only on this property and there was only a first on the one with Aurora only. Both of these it appears now grossly inflated the appraisal and paid the broker a lot of money to do the deal. Too late to go after Aurora now but I want to get this short sale done.

[tc4gold]

Update on Indymac short sale frustration. I called one of the numbers I found on this board. See my notes on the call today. It seems that the Qualified written request I sent in per this board has worked, at least it buys me more time. THank you to all who posted that and the numbers.

September 2 2009
Spoke with Kelley Cooper Spencer in loss mitigation. 512 250 3814

She states that all these calls I made where I was told I was speaking to the loss mitigation department, I was actually speaking to customer service

I said so I was lied to each time I asked to speak with loss mitigation and each time I was told I was speaking to the loss mitigation department. She said she couldn’t comment on that but that I really was in loss mitigation department now.

Received final docs on AUg 25
BPO ordered on Aug 26
Should be back next Friday september 11
Investor is Freddie Mac it takes two to three weeks to get their decision back.
Pool insurance is on the loan.
I can call Friday September 11 and they can then give me short sale negotiator. Decision can be back by October 9
She states that Loss mitigation asked for the sale to be postponed indefinitely pending the review. Requested this on August 26
September 2, 2009 spoke with Shapiro and Kirsch foreclosure attorneys 901 273 2457
Memory who won’t give me her last name but states she workes at front desk of Shapiro and Kirsch
August 11 they were asked that the sale date for 30 days. taking it to September 14 stated that they couldn’t postpone it indefinitely.
As far as she can see it is still scheduled for September 14, will pass me to Liz to find out other details. Couldn’t pass me to Liz but she asked Kevin and comes back to state

That per Kevin in the operations department.
Payment disupute pending so they cannot continue with the foreclosure sale, states that they have heard nothing about a short sale from the lender but until the payment dispute is cleared up they cannot carry on with the foreclosure.