I knew it, I knew it. I should have kept my mouth shut in the fear of getting a transaction jinxed but it did happen. I need an attorney who can go after Indymac, what they did was stupid and heinous and I am still shaking with anger and disbelief.
I have been representing a buyer on a short sale in Windemere.
- Buyer has been waiting for 5 months.
- We had an approval from the first on oct 21st.
- Then the struggle begins with national city on the second.
- No answer since October from the second lien holder
- In this time frame national city gets bought out by PNC
- yesterday PNC comes up with a demand of 80K to settle the second. Are you kidding me PNC? Even if you sell it as a note, you will not get 50 cents on the dollar
- Buyer is being pushed into a corner to contribute 42K as the first lien holder had agreed to give 19,500 to the second and the agents were expected to come up with the difference(hic)
- And here comes the BOMBSHELL from the first lien holder-
" We are going to have to take an approval from Wells fargo( the investor is .... and we do not have delegated authority).From what I am told, it can take up to 3 weeks to get an approval. This initially was mistakenly approved without going through to them first."
Are you freaking kidding me??????????????????? Oops I just shot you in the face by mistake and I should have shot your behind???? I smell law suit here. How can the banks be so incompetent that they play with people's lives so callously and we are letting them get away with it.
President Obama and his administration- awake or asleep?? This is the sector of the economy that needs grassroots digging to find out from people what they are facing in these times. I am so ticked off that I will even accept a federal take over of these bufoons !!!
I don't know how there would be a law suit. I would just move on and let the bank take the loss. It sounds like a dead deal.