Foreclosure Indymac
Foreclosure Saled Date on Tuesday, What Can I do?
I submitted a modification application 4 1/2 months ago with my lender (IndyMac). I continue to follow-up and have provided everything they requested. They have pushed the sale date back but still have not received an answer on my modification. They told me to call 1 1/2 weeks before my sale date if I have not heard anything and they would push the date back again. When I called and made the request at the beginning of the week, they said call back the next day to ensure the request was processed. I had no reason to think it would not be, however, they told me Wed. it was denied b/c I needed current paystubs! After all my calls, they never asked for new paystubs. They are now saying that it is too late to send new paystubs because of their 5 business day imaging process when they are received. It is completely wrong how this has been handled and now I only have 3 days left to move.
Is there anything that can be done to push the date back without the lender?
I live in GA
You might call the bank. Ask for the Loss Mitigation Department manager. Once you have this person on the line, explain to this person what happened to your modification request and the date of your sale.
I would email or fax the pay stubs to them anyway as well as be prepared to immediately fax them to the Loss Mitigation manager.
I hope against hope that you kept a list of names of the individuals that you spoke with each time you called the mortgage company so you can pin point those individuals.
If that fails when talking to the Loss Mitigation manager the alternative is to pay the mortgage current or file for a bankruptcy protection.
It is not true that you have 3 days in which to move.
At the sale if the property is sold to someone, they have to get the property recorded in their name so there is lots of legal work to be done before they officially own the property.
This new owner will contact you when all the legal documents are signed and between the two of you select a time for you to move. You might be required to pay rent for the time you stay there but this is between you and the new buyer.
If the property does not sell then the lender has to get a few legal matters taken care of so they have to wait until the legal matters are completed. This normally take 5-7 business days or less.
If this happens once all the legal matters are taken care of the lender normally hires a real estate agency to take care of their real estate sales.
An agent from the agency will contact you about the date and time of your departure. In some instances they will offer you a sum of cash for you to move.
Some of these agencies are authorized to give you funds to move, called key money or money for keys. This might be one so ask if there are funds available to you and your family so you can find and move into another place for first and last month rent or deposit.
Foreclosure Help : How to Stop IndyMac Foreclosures
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