IndyMac/OneWest - The Real Reason Why You Rather Foreclose Than Extend Sale

My seller's informed me via email that a sale date had been set for a home I have listed for them.  I immediately went into full combat alert and started updating the MLS - lowering price dramatically, blogging, tweeting and facebookin the new price.

I called the bank and tried to get an extension to allow me to continue marketing the home since showings have increased in the last couple of weeks. But despite pleading the customer service rep repeated her little script like a good robot and informed me that unless they had another short sale offer they would not even consider an extenstion.

I tried emailing my request to the last negotiator and the same company line came back...so sorry...can't do....need offer...then maybe....yea right!

Searching for the name of the current CEO I came across this video that explains the real truth.  Make sure you are sitting down and have taken a drink because you may need one after this is over.  This is just one bank that failed - which leads one to believe that the same deals were given to others in the "know" with all those other banks that failed.

Meanwhile, we realtors, keep working and fighting the good fight trying to help home sellers.  Really puts a damper on the whole thing.  Yea, banksters...I can now understand the true meaning of that word.