Indymac messed up, now selling clients home

[ChrisC]

What a day, we've never had these issues before, everything we do we make sure is qualifed and structured correctly. Only lately its been nothing but a brick wall with lenders. So this client was in review and approved for a plan (sales date is Nov 3rd). That was on Oct 19th. So called for an update on the sales date being postoned. Now their saying it was a foreclosure repayment plan and the client never called in to let them know whether it was affordable or not, and now its too late and only wawy they'll stop it is if she pays the full arrearages current (about 12K) which is not going to happen or else she wouldn't be in this situation (seriously I think the banks are getting dumber and dumber).

Now they never mentioned that to us, and now their saying they did... nope they said it was still in review and would get back to us with figures. Which is why I was calling to get an update. Basically their like well its your word against ours so sorry but tell your client their home is being sold next Tues and only way I'll allow it to be stopped is if she pays the full 12K now.

wtf is going on with the banks? Even attorney friends are seeing this more and more, including illegally recinding etc. We never had issues like this over the years, the lenders now seem to be more ridiculous to work with after all this gov crap that came out, we used to get much better results off in-house modifications.

Now I have to tell this lady and her family that their losing their home, attorney said nothing can be done even though it was a mess up on Indymacs side. Another file that perfectly fit all requirements and ratio's... crazy

[Evan Bedard]

Hi ChrisC,

wtf is going on with the banks? Even attorney friends are seeing this more and more, including illegally recinding etc. We never had issues like this over the years, the lenders now seem to be more ridiculous to work with after all this gov crap that came out, we used to get much better results off in-house modifications.

Now I have to tell this lady and her family that their losing their home, attorney said nothing can be done even though it was a mess up on Indymacs side. Another file that perfectly fit all requirements and ratio's... crazy

I totally agree about the in-house modifications and how they were much easier to acheive. The thing is once the gov't programs came into play everyone in America knows about modifications and is pursuing one on their own. Lenders are completely overwhelmed and I see mistakes similar to this happen almost daily..