why is indymac so slow with their processing?

slow house sale
I have been trying to buy a house that unfortunately is owned by indymac now as a short sale. we started the contract in October, it is now almost January, and we are still waiting for indymac to get their paper processed! my fiancé and i really want this house, but we have renewed our contract twice all because of this stupid bank. I was just wondering if anyone else has an issue similar to ours.

Rent Back

Related posts:

  1. We’ve just had our fullprice offer an a short sale accepted. How long will it take IndyMac to process? Been looking for a house for over 6 months & we love it so we offered full price on the short sale not wanting it to get away, deal with...
  2. slow response from banks? We made an offer on a couple of houses (offered full asking price) 3 weeks ago and we have yet to hear back from the bank. Not even a counter...
  3. Why do you think the housing market is so slow in the Midwest area? I have sold real estate for 18 years and have never seen so few buyers. The rates are great, the stock market is good yet people are not buying homes....
  4. How does a home foreclosure process work? If someone with an A paper loan goes into foreclosure because their home is worth less than half the value of the mortgage therefore bank does not approve short sale,...
  5. Options for getting out of a house in a slow market? Our house has been on the market for a year now, we have listed it with two different realtors during that time and only had two showings. We want to...

April 29th, 2010


One Response to “why is indymac so slow with their processing?”

  1. acermill Says:
    April 30th, 2010 at 3:19 pm

    You are experiencing a very common scenario with ‘short sales’. Lenders are in NO rush to approve your offer for less than is owed, in the event that a better offer might come along. Understand that IndyMac is taking a LOSS on this sale.

    IndyMac’s concern (as it should be) is it’s bottom line, and not whether or not you are inconvenienced. Your choice is to let the offer expire and look for a different property.