Replies to This Discussion

Permalink Reply by James Lockard on January 29, 2010 at 9:43am

Nice job Jeff!
What state was this in? Reason I ask I have found IndyMac being tough and pursuing deficiencies.

Permalink Reply by Jeff Payne on January 29, 2010 at 9:44am

FLorida, there was specific language on the approval letter that they would not pursue a deficiency

Permalink Reply by Kent Dills on January 29, 2010 at 11:59am

Jeff, Good job brother! Two questions:
1. Who was the investor on this short?
2. How did you position the $4200 debt payoff and $200 cleaning fee on the HUD-1?

Permalink Reply by Jeff Payne on January 29, 2010 at 12:12pm

I do not know who the investor was. I just asked for the 4200 and the cleaning fee. Indy Mac turned the power off and the food rotted in the refrigerator so it was their fault.

Permalink Reply by Bryant Tutas on January 29, 2010 at 1:10pm

Way to go Jeff. Ask and you shall receive. I recently had Chase approve $1,200 in attorney fees. I've also been reimbursed $400 in repairs by BofA. You just never know what they will agree to. I think having a strong purchase price helps.

Permalink Reply by Amy Martin on February 7, 2010 at 9:05am

Do you have the short sale fax number where I can send in my Short Sale Package?

Pamela Seley said:

Congratulations on your closed short sale! I love working with Indy -- they are great. They were the first lienholder on three of the short sales I was able to close at the end of last year. On two of them, Indy came up on the 2nds' payoff amounts.

Permalink Reply by Jeff Payne on February 8, 2010 at 8:02am

Try this one...this is Indy Mac direct 866-280-7128
They also use Service Link which is much better to deal with than Indy Mac

Amy said:

Do you have the short sale fax number where I can send in my Short Sale Package?

Pamela Seley said:

Congratulations on your closed short sale! I love working with Indy -- they are great. They were the first lienholder on three of the short sales I was able to close at the end of last year. On two of them, Indy came up on the 2nds' payoff amounts.

Permalink Reply by Amy Martin on February 8, 2010 at 8:09am

Thank you much!

Jeff Payne said:

Try this one...this is Indy Mac direct 866-280-7128
They also use Service Link which is much better to deal with than Indy Mac

Amy said:

Do you have the short sale fax number where I can send in my Short Sale Package?

Pamela Seley said:

Congratulations on your closed short sale! I love working with Indy -- they are great. They were the first lienholder on three of the short sales I was able to close at the end of last year. On two of them, Indy came up on the 2nds' payoff amounts.

Permalink Reply by James Lockard on February 8, 2010 at 8:18am

The last numbers I was given for IndyMac and I know the package was recieved is 626-535-4084 or 626-535-1370. I sent my package to both numbers.

Amy said:

Thank you much!

Jeff Payne said:

Try this one...this is Indy Mac direct 866-280-7128
They also use Service Link which is much better to deal with than Indy Mac

Amy said:

Do you have the short sale fax number where I can send in my Short Sale Package?

Pamela Seley said:

Congratulations on your closed short sale! I love working with Indy -- they are great. They were the first lienholder on three of the short sales I was able to close at the end of last year. On two of them, Indy came up on the 2nds' payoff amounts.

Permalink Reply by Jeff Payne on February 16, 2010 at 3:45am

Most likely IndyMac won't go after them, believe it or not, they made money on the short sale, check out this video http://www.thinkbigworksmall.com/mypage/player/tbws/23088/1372667
That verbage is not unusual though.

Kelly Marie said:

Sounds like you have had a great successful short sale story... How did you get the full release with no deficiency? I am worried because my clients short sale approval letter from IndyMac says:

"The borrower must sign the attached acknowledgment to all terms specified in this approval and must acknowledge that Indymac bank reserves all deficiency rights as provided by the note, deed of trust and/or security agreement and local and federal laws"

What do you think about this sentence in the letter? Do you think they can go after the seller for the debt? Any advice? This is a Michigan loan. Thanks so much for your advice!!!