I have been in the middle of doing a short sale with Indie Mac Bank since December of 2009.

They denied my first short sale offer of $110,000 without informing me at all. I did not know it was denied until February 2010. I gave them this much time because they always tell me they need 30 days for the negotiator to get back.

However, they never got back.

Anyway, once they informed me that it was denied due to an unacceptable offer, I countered at $120,000. Again this was in February. It took them about two weeks to tell me the file was in their system.

Now, the negotiator did get back to me on the 30th day after the file hit the system, and all she did was asked me what was the realtor’s commission and if there was a second.

I responded via email as she asked. It then took her 13 days to get back to me and when she did, it was another denial.

This wouldn’t have been so bad except the Sheriff Sale was on April 28th 2010 and she gave me the denial on April 26th.

Now if you ask me it seems like it was done that way intentionally.

I resubmitted another short sale offer for $135,000 on April 27th.

Then I had to go to the lawyer the next day (April 28th, the sale day) so he can write a letter where he and the owner gave me permission to postpone the sale.

I went down to Union County Sheriff’s Department and postponed it for two weeks. In NJ, you get either two 2 week adjournments or one 30 day adjournment.

Obviously I should have went for the 30 day adjournment because as I was calling on the counter, I was getting no where as the negotiator never even looked at it.

Everyone kept giving me the information on the $120,000 offer and I had to keep telling them there was a counter on the very next day.

Needless to say, I was told that they could not pause the foreclosure as the offer was given within 15 days of the sale date.

How is that so, if I’ve been doing this since February?

At any rate, the next sale date was today May 12, 2010 and again I had to go postpone it. This made the sale date May 26th. Now this even furthers the time frame from when I submitted the counter offer to the date of sale, but whatever.

I wasn’t going to even bother with the postponement but  did it anyway.

I am going to see what they have to say now. If they continue to be reluctant then I am just going to attend the auction and see if I can get something else.

Or, I may just wait till the property hits the REO list and get it from there for less.

I’ll keep you posted.