ED Magedson – Founder
IndyMac Mortgage Services, Select State/Province USA
IndyMac Mortgage Services Doesn't deal in good faith CA
I was the buyer in a short sale of a house from an owner in default.
IndyMac Mortgage Services approved the short sale with a specification that closing be accomplished by a particular date based on a 45-day escrow. However, IndyMac did not alter their foreclosure plans which were set to initiate during the escrow period. Loan servicing was transferred to Ocwen Financial seven days before the closing deadline, and the change of servicers made it impossible to close the deal during the final week of escrow. Ocwen Financial then spent two weeks lying to everyone involved in the deal with regard to extending escrow and commitment to provide updated lender approval docs to allow for closure of the short sale, then without warning proceeded to reneg on escrow extension, foreclosure and auction of the property within the duration of the extended escrow period they had verbally committed to approve weeks earlier, lender approval docs for the short sale which had been promised on multiple occasions were never provided.
I'm not sure if I'm in a position for any legal recourse, but would like anyone interested to know that doing business with IndyMac is high-risk where any sort of trust/good faith is involved, and that anyone should avoid doing any business of any sort with Ocwen Financial as they are completely untrustworthy and likely also highly incompetent as well.
This report was posted on Ripoff Report on 11/20/2013 12:23 PM and is a permanent record located here: http://www.ripoffreport.com/reports/indymac-mortgage-services/select-stateprovince/indymac-mortgage-services-doesnt-deal-in-good-faith-ca-1100956. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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