Indymac BankShort sale

I received the Short-Sale approval on June 6, 2008. Christerfer Boyett, Loan Workout Specialist, fax the approval letter with closing date to be July 20, 2008. Owner, buyer, escrow are ready for closing as of July 7, 2008 but he/she never returns our call for more than 10 days. We need one paper, final net proceeds, for escrow closing from Indymac but nobody including Christerfer never returned our call, e-mail and fax. I tried to call customer service representatives. They are nice and answer the phone but they kept saying I have to call Chrisferter. He/she is only one to solve the short sale. Also, they gave to me his/her assistant telephone number but she never answer or return the call either. Please let me know who have same experience and how to get over.


  • Valerie Jul 16, 2008

    On Wednesday 7/09 I tried to access my account with Indymac, I kept getting a timeout error and could not log on to get my money out. I could not get through on the phone. Finally late Thursday someone told me the system was overloaded, nothing to worry about though, keep trying and you should get through. Friday comes still can't get on, can't get anyone on the phone, bank closed by FDIC rest is history. If it was a local bank I could have gone done there and gotten the money out. So now I stand to loose $50K.

    0 Votes
  • Da
    Dave Prout Jul 25, 2008
    This comment was posted by
    a verified customer
    Verified customer

    I am in the exact same boat. Our buyers have been waiting almost 4 and 1/2 months now. Neither I nor my Realtor can get in touch with our "negotiator" or her "assistant". She has an automated voice mailbox with instructions on what to fax her in order to get the net, and we have followed all the instructions multiple times, but still have not heard anything.

    I'm not sure what to do either at this point, but I'm calling a real estate lawyer on Monday; our offer is above what the house is worth, and leaves IndyMac getting the full value of their loan!!! So the situation makes no practical sense.

    0 Votes
  • Da
    Dave Jul 31, 2008
    This comment was posted by
    a verified customer
    Verified customer

    I am one of the thousands of depositors that had uninsured funds at Indymac Bank. I had two CD’s with the bank I was assured that my accounts were properly insured by representatives at Indymac. One account was held as an individual insured by the FDIC for 100k and the other account was held as a trust with two beneficiaries (ITF’s) and insured by the FDIC for 200k. I have been informed by the FDIC that one of my beneficiaries on my account is not “qualified” and I have uninsured losses that exceeds 105k. I am not the only depositor that was ill-advised, misinformed, or lied to by Indymac Bank and the government needs to step-up and help people that were fraudulently induced to deposit more than FDIC limits by Indymac.

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  • Av
    ava Aug 12, 2008
    This comment was posted by
    a verified customer
    Verified customer

    It appeared that Indy used stalling techniques and limited withdrawal amounts because I was told in June that I could not empty my money market account - the limit was 25K. At that time, I wanted to close it because I could not deal with their "outsourced "help ". Lost over 10 K. due to the exec's bad business practises. Wonder if their millions were marked "safe" and insured!

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  • Me
    Mellissa McKown Nov 17, 2008
    This comment was posted by
    a verified customer
    Verified customer

    I agree, I have had an agreement for a short sale submitted 9/2/08 & still have had any response. The contract has since expired... so way to go IndyMac for all your help to loose it all. I could not even get a phone # or name of a person in the loss mitigation team. I am sick of them & their whole process, or lack thereof.

    0 Votes
  • Fe
    Fernando Nov 27, 2008
    This comment was posted by
    a verified customer
    Verified customer

    I was in the same move. But my deal fell a part. I waste my time and my client money and... lots, lots of frustration.

    The negotiators in this short sale madness were : LISA GONZALEZ, RAECHEL ALVAREZ, supervisor SCOTT LAMB, etc. Unprofessional people, rude, no courtesy manners in business, a total waste. I ask myself ..FROM WHERE THIS PEOPLE COME FROM, WICH PROFESSIONAL BACKGROUND??????, maybe they were tellers from the corrupted and failed bank that get an upgrade in position for be readers know what I mean.

    They never answer a phone call, email, fax. Nothing I have to send docs five times, they never got it ????.
    The money was seat in the Title Co for a week after the buyer being six months ready to close.
    I made a complaint to the FDIC, etc...NOTHING!!!

    A real mess.

    If any recruiter from any financial firm read that please act accordingly. This people are useless.

    The property was about to be purchased for 15k over the BPO, ?????.



    A friend of the abused ones by Indymac.

    0 Votes
  • Fl
    florida short sales Feb 17, 2009

    Well, I have to say if any of you have ever in your professional careers particiapted in a short sale you would know right off the bat that it is a timely process. These "Unprofessional, rude and corrupted" people are most likey working as quickly as they possibly can. Can you even imagine for just one second if there are this many people on this website complaining and saying they are calling, emailing and faxing everyday just how many more are doing this on a daily basis? If I were being bombarded on a daily basis with every short sale on my plate I'm sure I would not answer my phone either. So answer me this, how in the world can anyone get their job done if all they are doing is answering every phone call and dealing with angry "customers" all day every day?

    0 Votes
  • Er
    erikka10 Aug 28, 2009

    Glad to know I am not the only one in this hellish IndyMac boat...but sad to see that things have not changed much over the year. My story is similar: decided to short sale my home after my divorce. Got a buyer right away, jumped threw all the hoops, completed all the paperwork on time, got approved, everything was ready to go until a week before closing. The title company found an error in the paperwork that prevented us from closing. An error in numbers that my loan negotiator, Kelly Verstigan, made. This error would of took her a whole 5 minutes to fix. But, neither me, nor my realtor, or my title company could get a hold of her. We left messages upon messages upon messages and revieved no response. We also left many messages with her supervisor, Scott Lamb, and also recieved no response. NOTHING. I would of been happy with a, "Screw you lady." But I got NOTHING. Then, between the buyer, my realtor, and myself, we pooled our resourses together and came up with the $3000 that was needed to close, something we were not supposed to pay, but because of Kelly's mistake it showed that was owed at closing. We were so desperate to close, we were willing to pay it. But, I had gone over my deadline to close, and again, could not get a hold of Kelly to request an extention. I was unable to close on my home even after coming up with Kelly's mistake. So, now I am forced into foreclosure on a home that had a buyer. I'm also forced into bankrupcy so I can take care of the home equity loan that was supposed to be taken care of in the short sale. It was a waste of my time, my buyers time, and my realtors time. I understand the right thing to do would of been to make my mortgage payments, but life threew me a curveball. I was unable to afford the house on my income alone and I have a daughter to take care of. The next best thing was to do a short sale, I thought, instead of foreclosure. Now, IndyMac has another foreclosed home they have to deal with and they won't get close to the amount the buyer was going to pay because of their employees not doing their job. I don't know what this comment will do but I had to vent!

    0 Votes
  • Re
    realtoril Sep 09, 2009

    I am a Realtor negotiating a short sale on a condo in the Chicago area. My process started early in 2009 with an offer coming in March - a cash offer. There was no response whatsoever until we went to court to request a delay on the judgment hearing for foreclosure because IndyMac never communicated with us.

    Lo and behold! our paperwork was in the system, a BPO was ordered, and we got our settlement letter. Now, on to work the 2nd lien holder.

    We got an agreement with the 2nd position on the 24th of August. My IndyMac letter expired on the 25th of August, so I asked for a 2-day extension to accommodate closing this file with a cash buyer. They insisted on putting it back in for review.

    As of today (9/9/09) IndyMac now wants a new BPO (do they think the property went up in value? If the BPO comes in lower, will they reduce their net - ha!). That will add another 30 plus days to the process. On the 14th, we have the final hearing for judgment for foreclosure - can we postpone it again to get them to play? I am hoping for a patient judge.

    Just threw a Hail Mary pass to Scott Lamb, because I found his e-mail in another post.

    2 days turns into 2 weeks, turning into 2 months. That's efficient. If the condo goes to foreclosure/REO, they'll get less than what we are paying.

    I wonder if their policy is to just screw with the borrower?

    0 Votes
  • Ve
    vegaskim Oct 04, 2009

    Absolutely unacceptable on behalf of Indymac. Yes, we all understand that Indy is overwhelmed by the short sales in today’s market. However, it’s a poor excuse to allow such poor to non existent communication! More and more home owners are loosing their homes to foreclosure because you are “too busy” to communicate or return “so many” phone calls. You would think that Indy would hire more staff. Something needs to be done. I too am living a nightmare with Indymac. Christerfer Boyett and his many assistance might as well just not even have a phone or email. Scott Lamb, well don’t bother there either. Long story short, have your seller / Borrower write to their Senators. My client did this after getting nowhere for 9 months. I tell you what, I received a call from Indymac’s Customer / Client Advocate within 24 hours of Incymac receiving a fax directly from our Senator. I also received our long awaited approval letter the following day. I have yet to close this transaction because I am once again experiencing the same non response to my requests for an extension of our approval letter. However, we at least have the support from the Customer / Client Advocate for Indymac who can help push things forward.

    0 Votes
  • Ro
    RomanRealtors Mar 18, 2010

    You must consider a shortsale most people do not realise that the bank does not care about the homeowner and there are millions of boiler room scams offering loan mods popping up every day . Out of 4 million homeowners facing foreclosure only 135, 000 have been helped thru a modification, companies are no longer allowed to charge for modifications so anyone offering their services at a price is a scam . I suggest talking to a licensed real estate agent about your case.
    also many people do not qualify for the 5 requisites the bank requires .

    we do not charge for modifications or shortsales the bank pays us. We wont ask u for a dime.

    Joaquin Roman
    Roman Realtors and Financial Services, Inc
    3005 S. Bristol
    Santa Ana, CA

    0 Votes

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