This is crazy IndyMac want the Investors to pay $300.00 to submit their short-sale package. What do you think about this bs?
$300.00 conditional on their acceptance of YOUR offer.
either way they are trying to do two things. First and fore most they are trying to reduce the number of short sales they are presented with. They figure if they charge $300 bucks per submition they will get better quality short sale offers. This will scare off many of the noobs who are unsure with what they are doing.
The second reason is to make a small amount of money. If most banks are not paying additional fees for loss mitigation services the servicing companies can either make up that difference through charging the way they are or by not spending the overhead for the loss mitigation services and just not do it. We are seeing both happening right now.
GooD LucK! :beer
I think it’s great that the banks are doing this with short sales. I’ve seen so many people trying to dump their properties on the bank and the only reason was because there is no equity. People have to remember that the banks represent other peoples money. Just like a person lost their equity in their house - so have the millions of people that lost their investments in the stock market and the banks. Some people need to do short sales, other people are just looking for an easy way out. Congratulations to the banks for implementing this! Well done.