Comment

Comment by Alton R. Tyndall, Jr on December 11, 2012 at 6:12am

Hi all, I received a response from Indy mac with a counter of 84k, offer is 55k, payoff for the property was 76,750.75 thru 11/29. Sounds like they want full payoff plus commission which wouldnt even be a shortsale. The property is completely trashed and I believe the BPO is way off, best way to appeal, any ideas, also are they just trying to get the offer up or are they set on 84k, listed on the letter is:(The suggested list price is provided only as guidance and not as required list price... )per Fannie Mae

Comment by Anna Parker on December 7, 2012 at 11:06am

Ok - does any one have any insight on disputing a BPO valuation?  Have HAFA deal going with IndyMac currently, IndyMac wants us to counter to $160K (current offer is $145K) based on BPO valuation & our market analysis puts it smack on the nose at $145K.  BPO agent in our market grossly over prices properties -- was off by $60K on another property!  Any leads/info is appreciated!

Comment by Jerry A Cook on November 30, 2012 at 12:59pm

Alex, I believe that you are faced with a scheme between Indymac and the Mortgage Insurance company.  Submitting money before a letter is issued and having full disclosure of funds paid for what ever reason is a REDFLAG that you are getting played. The seller should be concerned and should relay this information to your state attorney general as another example of lender abuse.

 

Comment by Alex Krumm on November 8, 2012 at 8:40am

Good morning!

We received an offer from the lender today that approves my seller for HAFA provided that she pay $2,200 outside of closing to the mortgage insurance company.  The catch is that the $2,200 would have to be paid BEFORE the lender can issue the HAFA approval.  Paying it at closing is not an option for IndyMac.

The seller is hesitant to pay the contribution prior to closing because of the risk that the deal could fall apart and I'm concerned that the lender might not issue a HAFA approval after the contribution is made, regardless of the correspondence we've received from them.

Has anyone else come across this?  Ideas?

 

Alex Krumm

Re/Max Alliance Group

Broker Associate

GRI, Certified Distressed Property Expert

Winner, Five Star® Best In Customer Satisfaction: 2010, 2011, 2012

 

941-234-3597 Direct

941-954-5454 Office

941-444-2552 Fax

 

[email protected]

www.sarasotapropertygroup.com

Comment by Justin on October 26, 2012 at 2:06pm

I have a buyer who's related to their agent.....per paragraph 7 of the IndyMac/OneWest arms length short sale affidavit it says "Neither the Buyer(s) and/or Seller(s) nor any parties related to or affiliated with the Buyer(s) and/or Seller(s) may act as the buying or listing/selling agent in the transaction."

We didn't get the addendum until after today and were told it was the final step to issuing the approval letter....Does anyone know if there's flexibility with this or will they not allow the buyer's agent to collect a commission?  If they don't allow it I'll lose my buyer...makes no sense....Thanks

Comment by Lydia on October 26, 2012 at 10:36am

My pleasure. We all help one another :)

Comment by Wendy Rulnick on October 26, 2012 at 7:56am

Lydia Puller just emailed everything.  Thank you, Lydia. I am going to update here. Alton, you're right, the IndyMac website will always have the latest info!

Comment by Alton R. Tyndall, Jr on October 26, 2012 at 7:53am

Im about to send in a short sale packet and I just took everything directly from their website for shortsales, I will keep u posted how it goes..thanks, Alton

Comment by Wendy Rulnick on October 26, 2012 at 7:37am

Please email us the most updated forms, if you've recently done an IndyMac short sale.  I'll replace... [email protected] 

Comment by Wendy Rulnick on October 26, 2012 at 7:37am

Are them IndyMac short sale forms in this group the most up-do-date, if anyone knows?

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