I am completely disgusted with IndyMac. Has anybody else had them try to REFUSE to even LOOK at a short sale package because it wasn't submitted 14 days prior to Trustee's Sale date (or 15 depending on who you talk to or what side of the bed they got out on that day)?
***RANT WARNING***
I've been communicating with them since Feb 09 on this file.
The homeowner tried diligently to refinance or obtain a loan modification - no help at all there.
Both husband and wife lost jobs, he has a health condition that affects his ability to work.
Very cooperative in supplying financials.
Have a 1st loan with IndyMac, small 2nd with Countrywide/B of A
We did all possible to get a higher offer to cover as much of the obligation as possible. No go, nice house they lovingly upgraded with a lot of expert sweat equity, but in a very uneven neighborhood.
This is where it gets weird. The Trustee's Sale date is 9/21/09-Yes, TOMORROW.
On 8/31/09 I called to see if they might consider a postponement to allow us to market in the busier fall season (OK, so I'm an optimist. Asking's free).
They basically not only said absolutely not without a contract (still not surprised); then they hit me with this 14-day prior "rule", which not only had NO ONE EVER MENTIONED, there was also NO MENTION OF IT ON THE WEBSITE OR IN THEIR SHORT SALE PACKAGE!
The agent I spoke with (let's call her "Rita") was very brusque when I questioned her and made the following statement: "Our investors make the rules and THEY DO NOT WANT US TO DELAY ANY FORECLOSURES"!!!
Am I nuts, or isn't this the bank that WE THE PEOPLE, THE TAXPAYERS OF AMERICA BAILED OUT?!
This was right before the Labor Day holiday weekend, so I dropped the price to below market, obtaining FIVE OFFERS, 2 at list price, 3 above, bringing us to somewhere in the neighborhood of current fair market value for this property. It ain't going to get any better.
I spoke to several IndyMac reps over the next few days, one of whom verified the 'rule' but said she'd seen them accept packages and postpone closer to the sale date, so I forged ahead.
We did the best we could do time-wise as Sellers now live 4 hours away out of area in a trailer on raw land in a remote area. Due to the holiday everything was closed (including IndyMac OF COURSE) so by the time we got the package back it was 9/9/09 - 12 days prior to the sale date. It was a very complete package.
I spoke to one agent on 9/8/09 who told me she showed that a letter had just been sent to the seller stating that they had 10 more days to submit their package.
I then spoke with an agent who verified receipt and said they would "probably review but no guarantee".
Then I got one of the most arrogant agents it's been my misfortune to come across...let's call him "Cory". He was downright unpleasant and said they they WOULD NOT and DID NOT WANT TO process the file! That "short sales are just an option, we don't have to offer it and we don't want to". HUH?
I requested a supervisor, was told they wouldn't help either, I suggested perhaps we should let them make that decision...finally hung up since it was clear this guy simply wanted to be obnoxious.
Desperate and Disgusted at this point (9/11/09) I called back and full-on groveled. I got a nice guy "Brandon" who did listen and got me a supervisor, who basically told me no again.
At this point I shared with her that in my opinion, not only was this the best opportunity their investors were likely to see, but that these are EXACTLY the homeowners we are supposed to be helping. These are not wanna-be investors who got in over their heads. They didn't lead a lavish lifestyle. THEY HAVE GENUINE HARDSHIPS AND NEED REAL HELP. They are behind because they CAN'T PAY, not because they don't feel like it. They've never been late before this happened.
It is absolutely ridiculous for IndyMac to say that they CAN NOT postpone with less than 14 days prior to the Trustee's sale. Banks are doing it EVERY DAY. B of A for instance won't initiate a postponement until you are within 5 days of the sale.
I just got an offer on another short sale on Thursday 9/10/09, submitted the package to ASC late that night - and THEY WERE ABLE TO POSTPONE A MONDAY 9/14/09 SALE DATE! And they did it with just ONE business day.
SO-let's be clear. It's not that IndyMac CAN NOT, it's that they DON'T WANT TO.
I shared with her my opinion that this position was a CHOICE on their part, and a very bad one, that would probably make VERY INTERESTING PRESS, and that I would feel morally bound to share this situation, as I believe it is the wrong choice for the investors, the homeowners and the health of the market in general.
At this point she agreed to look at the file while I held. She asked for 3 more items which I obtained for her, and said she couldn't guarantee that they could postpone but she would ask them to review it. Even though I figured she was just humoring me, I still hoped for a good outcome.
Yesterday I called and they told me my Third Party Authorization was 'expired' because it was 'only good for 90 days'. What baloney...it was dated 3/28/09, so if that's the reason why is it they've been talking to me every time I called in July, August and September? Why didn't they ask for it when they checked the package and 2 different people told me it was complete? It also states that it is valid until it is revoked in writing by the borrower.
I am so frustrated and discouraged and it feels like they are intentionally pushing these homeowners into foreclosure. There is no redemption period after a Trustee Sale in AZ.
I'm hoping I am wrong, but running out of reasons to believe they care, even about their investors if not the homeowners.
Has anybody else run into this 14/15 day rule? If so, have you had any luck fighting it?
UPDATE: THEY WERE BOUND AND DETERMINED TO FORECLOSE. IT WENT TO TRUSTEE'S SALE 9/21/09 AT 10:00AM WITH AN OPENING BID AMOUNT OF (GET READY): $101,500
The List Price prior to foreclosure had been dropped to $139,000. We had a contract in the amount of $150,000. We had 4 other backup offers, 2 at list price and 2 above.
Needless to say, the opening bid had the chance of a snowball in you-know-where of being accepted even IF someone did show up to bid, so it reverted to the bank.
ASK YOURSELF WHY INDYMAC / ONE WEST BANK CHOSE TO FORECLOSE???
One of the benefits of living in Sedona (and the Verde Valley area in general) is that it is incredibly beautiful, and one of the best ways to experience its beauty to to hike through it. You can hike pretty much year-'round, but in the Spring the landscape fairly calls out to you to break away and enjoy Mother Nature's gifts. You could probably hike a different trail every day of the year if you wished, but there are a few that I think of as pretty hard to improve upon, and have become favorites.
Devil's Bridge - overall one of the best bang-for-the-buck hikes in terms of views versus effort you'll ever find. It's only about a mile and fairly easy, with a short steep climb to the top of a dramatic red rock arch which pays off with stupendous views of the valley. Access it off Dry Creek Rd.
Vultee Arch - another beautiful hike into a box canyon off of Dry Creek Rd. This one's about 1 1/2 miles each way, and takes you to another natural arch.
Bell Rock and the Bell Rock Pathway - do part of it or all of it as time and your mood allow. This trail loops around Bell Rock and also has a loop around Courthouse Butte, or you can take it all the way to the Chapel area and the Little Horse Park trailhead. If you do that expect it to take a couple of hours. It's fairly level (except for Bell Rock itself, which has numerous trails - mind your step near the edges, as the prehistoric sandstone is soft and crumbles) and a great cool weather hike. It's also a favorite for mountain bikers, but it's broad enough that there's room for everyone. In summer, start early as there is zero shade. Pick up the trail just north of Bell Rock Blvd in the Village of Oak Creek.
Speaking of summer, in hot weather the coolest hike is undoubtedly West Fork up in Oak Creek Canyon. It is also (justifiably) one of the most famous of Sedona's trails, so if you want to avoid the hoards, try to go mid-week. I had not been in years and went with a visiting friend this last summer, and was glad I did. I'd forgotten how truly wonderful it is. There's a short very easy portion that takes you down to the creek that pretty much anybody can enjoy at the Call of the Canyon entry (Zane Grey used the area as the location for his novel of that name). If you want to go farther, wear your old tennies because your feet will probably get wet, as the trail crosses the creek several times. There's plenty of shady spots and the creek to cool you. The entire canyon is about 12 miles but the most popular portion is the first 3 miles.
Wet Beaver Creek - at least that's what we've always called it. I like to think of it as the less-crowded alternative to West Fork. It's another hike that's great in warmer weather as it follows Wet Beaver Creek, south of the Village of Oak Creek (take SR 179 under I-17 for a couple more miles to the trailhead parking area on the left). This is a great hike for wildflower lovers. Turns out that there are several trails that depart from this area, and the ones I usually take are Bell Trail and Weir Trail (1 1/2 to 2 hours). For the hardier hikers among you, pick up the Apache Maid and White Mesa trails.
You will need a Red Rock Pass to park at any of these trailheads. Pick one up at the Sedona Chamber of Commerce near the 'Y' on Forest Road or click here for more places to purchase a pass. A final word: always carry plenty of water and wear sunscreen, year 'round. Happy Hiking!
RE/MAX Sedona's agents are at it again - working hard for our Sellers and bringing some great opportunities to tour these select properties to Buyers. Saturday November 1st is also the Amante Community Garage Sale, so put your bargain-hunter hat on and come on out to the Verde Santa Fe!
FEATURED LISTINGAND ABSOLUTE "BEST BUY":597 South Santa Fe Trail in Amante at Verde Santa Fe - lowest price per square foot on the Verde Santa Fe Golf Course in all of Verde Santa Fe's 7 neighborhoods! A short stroll to the Clubhouse (see photos of some of the many amenities below). This gated community is just a 15 minute drive to West Sedona, 5 minutes to Cottonwood, AZ and about 25 minutes to I-17, giving you easy access to Flagstaff an hour north and Phoenix about 1 1/2 hours to the south.
Western Hills, West Sedona - Borders Coconino National Forest land, with a magnificent backdrop of Red Rocks and wonderfully private gardens. Whether you're a hiker, simply love to be outdoors or want a secluded feel in the middle of town, it just doesn't get any better than this. Come see for yourself!
Tour 14 homes in Sedona and the Village of Oak ranging in price from $315,000 to $2,675,000. You'll get to know the neighborhoods and see a wide range of styles.
Join us Saturday, October 25th from 1:00pm to 4:00pm
Download a RE/MAX Sedona Tour Sheet with photos and directions or stop by our office at 1225 W Hwy 89A Suite 102 in West Sedona between Airport Rd and Elk Rd on the south side of the highway.
Front Patio - many outdoor "Living Rooms" to enjoy Sedona's mild weather.
Home sits high in Western Hills, backing to National Forest Land and overlooking the Red Rocks and green mesas of Sedona towards Cathedral Rock in the distance. Front yard is hidden from the road - incredible privacy right in the heart of West Sedona!
• 1,847 sq. ft., 2 bath, 3 bdrm single story - MLS#120747 $269,000 - Beautiful Golf View Home
Amante at Verde Sante Fe, Verde Santa Fe - ***Just Reduced***DO THE MATH - THEN COMPARE this beautiful golf course home with all the others. This is one great buy. Lovely finishes with many extras, and a price that's seriously the best per square foot of any home with golf course frontage, and better than many listings on interior lots.
REDUCED: AS OF 10/28/08 in all 7 of the Verde Santa Fe neighborhoods this home is now priced 25% below the AVERAGE price per sq ft for ALL Active listings on golf and 11% below the average price for homes that sold in the last six months!
Why settle for less when you can get this kind of location and quality of finishes at this price?! *****
This is the Fresco floor plan - in my opinion the most liveable plan in Amante - with a terrific kitchen layout, large master suite, split bedrooms, and extra large laundry/utility room. Great Room with gas fireplace and (of course!) views. The custom patio has been extended with old-world style pavers, adding charm and a wonderful outdoor living space. The well-equipped Amante Clubhouse is a short stroll down the street.
This is the "special bargain" you've been waiting for: it's a great time to be a Buyer!!!
Late October in Sedona is a glorious affair, with crisp blue skies and the intense golds and greens of the trees against the red rocks.
If you've been wondering what kinds of bargains await buyers shopping for Sedona real estate, what better excuse than the October RE/MAX Sedona Open House Tour?
RE/MAX Sedona's Open House Tour is held on the last Saturday of every month. Mark your calendars!
September's tour was a big success, with 15 gorgeous homes to preview. You still have time to plan for next month's tour!
NEXT TOUR: Saturday, October 25th 1:00pm to 4:00pm A few days before the tour we will release details and a tour sheet for October's open house tour, so please check back - then:
You can also see the October Sedona Open House Tour homes for sale in our full page color ad in the Friday Red Rock News ad on 10/24/08 or stop by our office for a tour sheet and map.
When/Where: Sedona Arizona - homes are open from 1:00pm to 4:00pm - RE/MAX Sedona 1225 W Hwy 89A Suite 102.
Come join us - October is a fabulous time to enjoy Sedona's beautiful weather and the fall colors!
This photo was taken as a spring storm rolled into Uptown Sedona - I'll have to wait a little while to get a photo of this scene dressed in its fall finery - but it's gorgeous all year 'round. It's like living in a National Park!
Wondering what your dollar will buy you in a Sedona home these days? Here's your chance to tour 15 beautiful Sedona properties on RE/MAX Sedona's Open House Tour. Pick up a Sedona Open House Tour sheet at our office at 1225 W Hwy 89A Suite 102 or see our full-page ad in the Red Rock News. If you can't make it this month, mark your calendar for the next tour, Saturday October 25th. It's always the last Saturday of every month.
For more information call Beth at 928-284-2501 or Toll Free 800-282-4166 or
Fall is a fabulous season in Sedona, and not just for the weather but for the wonderful variety of events planned. Sedona Jazz on the Rocks is undoubtedly the best-known event. SJOR was established in 1981 out of a desire to nurture and support jazz as a living art form (and because the only thing more wonderful than being outdoors in Sedona at this time of year is doing it with a great LIVE soundrack)!
Every year since its inception, the Jazz Fest has grown from the core one day event to a series of diverse but related offerings, including concerts, jam sessions, art walks, dinner/shows, educational sessions and more, and now runs for several days.
It starts today and runs through Sunday, September 28, 2008.
Help American Express decide which of 25 worthy causes they will award with 2.5 million dollars in funds. You can vote to place one of these into the top 5 until September 29th, 2008. Final results will be announced October 14th.
Re: Project: Rebuilding New Orleans Green
In reviewing these projects I was struck by the breadth and scope of the offerings. For the purpose of these funds, I felt that the Rebuilding New Orleans Green project had the necessary components for me to put it in first place on my list, and not because other projects were not also worthy.
I do think that charity begins at home, and that this project not only meets that benchmark but also addresses more than one burning issue: 1) it will help our neighbors in New Orleans on the long road to recovery 2) it promotes green building and sustainability, which need to be high on our list of priorities as individuals, as a nation, and as members of the global community and 3) it would bring a welcome private funds augmentation to already-strained government funding of the gulf area. It also speaks to the American dream of homeownership.
I am not from New Orleans or the Gulf Coast, but visited there in November 2006 with the NAR Convention. My colleague and I stayed an extra day to volunteer for Habitat for Humanity at the Musician's Village, and were apalled by the level of devasation still apparent more than a year after Katrina. I understand that there is still much to be done. New Orleans is a unique American city, and we would lose so much by not preserving it.
Other great causes such as Alzheimer's education and research (which I support for personal reasons) and Kiva.org (which was new to me but of all these projects seems the most innovative and has tremendous potential) are already well into the top 5 (#1 & #2 respectively). Another that has merit is the project studying new uses for generic drugs (although I personally try to avoid synthetic remedies wherever possible, their logic is sound and could make meds more affordable).
Green Building, sustainability, the environment and New Orleans need our attention RIGHT NOW.
If you want to learn more, you can vote here...or browse for another project to support.If you're not an American Express cardholder, you can still learn about some fascinating projects, and maybe you could be an angel and share the information with someone who is.
Preview 18 Homes in Sedona, Cottonwood & Cornville, Arizona on the RE/MAX Open House Tour this Saturday
The RE/MAX Sedona Open House Tour has quickly become a Sedona real estate tradition. For six months now, RE/MAX agents have reserved the last Saturday of every month to open their sellers' homes for the public to tour in the only Open House event of its kind in Sedona and the surrounding communities of the Verde Valley.
This month there are 18 exciting homes available to view, ranging in price from $225,000 to $2,675,000 and located in Sedona, the Village of Oak Creek, Cornville and Cottonwood. With such a wide range of properties, there is sure to be something to interest every buyer.
This new tradition has proven very popular with the public, and is great for buyers and sellers trying to get a 'handle' on the Sedona-Verde Valley real estate markets.
This month's spotlight listing can be previewed at: http://835NThirdSt.ViewAzRE.com , and is conveniently located in Old Town Cottonwood, tucked away in a quiet neighborhood cooled by the shade of huge mature trees, yet just steps from shops, restaurants, parks, health club, hiking trails and more. Priced at $269,900, it is a charming and affordable retreat central to all the Verde Valley and Sedona have to offer. DIRECTIONS: from Hwy 260 (I-17, Camp Verde, Cottonwood): go right on 89A and keep straight when it turns into Main Street, go past the curve then right on Third Street to the corner of Pima & Third on the right. From Hwy 89A take the Mingus bypass (across from Cornville Road at the light), then right on main street. Go past the curve then right on Third Street to the corner of Pima & Third on the right.
For 24 hour information please call800-378-2491 and enter code 808. You can also visithttp://www.Move2Sedona.com .
Our full-page color ad in Friday's Red Rock News paper has photos of all 18 homes, and you can stop by our office at 1225 W Hwy 89A for a RE/MAX Sedona Open House Tour sheet.
Please join us on Saturday, August 30th 2008 from Noon to 5:00pm, and mark your calendars for the last Saturday of EVERY month!
Life and real estate in Sedona and the Verde Valley. Get to know this slice of heaven in the high desert land of north central Arizona. Sedona real estate, Cornville real estate, Cottonwood real estate, Camp Verde real estate, Lake Montezuma real estate, Rimrock real estate, Jerome real estate. Community information, Buyer & Seller articles, events & more.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
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