Comment

Comment by Laura Eklund on March 6, 2010 at 12:53pm

Thanks so much Kent, I will try that approach!!! Wish me luck!

Comment by Kent Dills on March 6, 2010 at 3:23am

Laura, call IndyMac today and Monday and ask them to postpone the auction. You may have to ask to speak with a supervisor. Give it a shot as you have nothing to lose and everything to gain. I've had to do this about 20 times in my short (year and a half) short sale career and have ALWAYS got the sale postponed. As long as you have a reasonable offer, the bank will postpone the auction because it saves them money, effort, and time. No so much because it helps you or your client.

Comment by Laura Eklund on March 5, 2010 at 7:25pm

I submittd an offer to IndyMac last week, the home is scheduled for Auction in three days.....do we have a chance to postpone foreclosure or should I tell my clients to pack their bags?

Comment by Kent Dills on February 25, 2010 at 10:51am

Kelly Marie, it sounds like you've got some educating of your client to do.
1. If IndyMac won't that the Deficiency language out, it doesn't mean that they will pursue it. 2. If your client lets IndyMac foreclose, the costs will go up and then they'll still come after your client for a Deficiency only it will be BIGGER. 3. It's actually a good thing when they 1099 your client for 2 reasons: first, if they 1099 they can't also pursue Deficiency; second, the 1099 tax effect will be offset by the Debt Foregiveness Act in the form of IRS Form 982. Of course, I'm not a real estate attorney, or a CPA, I'm just a humble ;-) real estate broker.

Comment by Maria Evans on February 25, 2010 at 10:13am

Kelly, if Fannie Mae is the investor you will get paid 6% comission. If you need more info on this, here is the link: http://www.realtor.org/wps/wcm/connect/7e6786804018046f8d0cfd205f47...

Comment by Kent Dills on February 22, 2010 at 2:32pm

Ralph, you might try emailing IndyMac's (now owned by OneWest, formerly owned by FDIC) boss (AKA, their regulator) who is The Office of Thrift Supervision @ [email protected] . Be sure and cc: your IndyMac/OneWest negotiator if you have one assigned. Then sit back and hopefully watch SOMETHING happen!

Comment by Ralph Gorgoglione on February 20, 2010 at 7:26am

HELP! I need a one-week extension with a short sale with IndyMac and they have told me NO, that if we do not fund by the 22nd, they are proceeding with the foreclosure sale on the 25th! I've gone to a supervisor in their short sale dept and she still said NO. Does anyone have a connection with a higher-up at IndyMac?

Comment by Kent Dills on February 14, 2010 at 11:29am

Deb, I've stopped multiple auctions by submitting complete short sale packages - and ulimately closed them too! - with IndyMac.

Comment by Deb Orth on February 14, 2010 at 8:59am

Does anyone have any successful experience in getting IndyMac to allow a short sale or deed-in-lieu when auction has been scheduled?

Comment by David Dee on February 8, 2010 at 9:21am

Way to go Rosemary! Did you also received proper language of removing the deficiency?

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