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foreclosure: OneWest Bank Releases Their First Year Profit Statement $1.6 Billion- You Won't Believe This One! - 02/19/10 09:27 PM
OneWest Bank Releases Their First Year Profit Statement $1.6 Billion- You Won't Believe This One!
Kudos to Scott Reckard with the LA Times. He wrote an article today that is sure to open some eyes. The article, titled "OneWest Bank Profit: $1.6 Billion" does an excellent job of pointing out some very interesting observations.
According to the article, OneWest paid the FDIC $1.55 Billion for the failed IndyMac Bank, and turned a profit of $1.57 Billion in it's first year. The article specifically addresses the shared-loss agreement that was also put in place by the FDIC, which is expected to cost … (111 comments)
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foreclosure: Yet Another Heart-Breaking IndyMac/One West Bank Story - 10/02/09 12:44 PM
YET ANOTHER HEART-BREAKING INDYMAC/ONE WEST BANK STORY
I ran across an article today regarding IndyMac (now One West Bank) that came out in August/2009. Basically, it was one of those "Pound your chest and tell the world how great you are" type of articles. To read the article, CLICK HERE.
Yesterday, I received the following email from a very distressed homeowner who happened to read my recent blog post titled, "Is The FDIC Killing IndyMac OneWest Bank Loan Modifications & Short Sales?". They have given me permission to post it on AR. Here is the email, word for word...
… (9 comments)
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foreclosure: Guess What? IndyMac (now One West Bank) & BofA WOULD RATHER FORECLOSE! - 09/04/09 02:50 PM
GUESS WHAT? INDYMAC (NOW ONE WEST BANK) & BOFA WOULD RATHER FORECLOSE!
For the past several months, we, as agents who have taken on short sale listings, have been able to tell potential clients, "Your lender doesn't want your home back. They would much rather work with you on a short sale".
Well folks, I'm here today to tell you that you should pause before making this assertion.
Fellow CDPE (and AR Member) Sidney Jimenez has written several blogs lately about the strong-arm tactics that lenders have been taking in recent weeks/months. I would highly recommend you read them here, and … (10 comments)
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foreclosure: ATTN SELLERS: Phoenix & Scottsdale Loan Modification Scams: SELLER BEWARE! - 04/15/09 12:13 AM
OK, I've finally had it... Time to get on my soapbox..AGAIN... How many of you, in the last month, have seen an ad or received a letter in the mail for a so-called "Loan Modification Specialist"? It's getting out of control, I know. The ads are everywhere, and it makes me sick everytime I hear about another homeowner being taken advantage of by what I'll call the "Scum of the Earth".
When someone that is "upside-down" in their home calls me for advice, my first goal is to try to keep them in their home. In doing so, I'm fully aware that if my advice keeps them … (1 comments)
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foreclosure: Looking for a Scottsdale or Phoenix Foreclosure or Short Sale? - 04/08/09 12:25 PM
You've come to the right place! There are currently over 22,000 properties in Phoenix, and over 1,300 properties in Scottsdale that are listed in our database as being in Pre-Foreclosure or Bank-Owned.
You can have all of these listings at your fingertips, along with updates every 24 hours of any new properties that come on the market. You set up your own search parameters. You can search by List Price, # of bedrooms/bathrooms, Schools/Districts, Zip Code, etc. You create your search, and each day a list of new listings will be emailed to you. All of this for no charge, and … (0 comments)
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foreclosure: Phoenix, AZ: Short Sale & Foreclosure IRS & Deficiency Judgement Issues - 04/08/09 10:07 AM
In our intitial meeting with clients, we are always quick to point out the possiblity of having to pay the IRS for "Phantom Income" (i.e. in some cases the IRS considers the loss that the lender takes to be income, and can thereby force you to pay income tax on that loss). This not always the case. The Mortgage Forgiveness Debt Relief Act of 2007 was encacted on December 20, 2007. Generally, the Act allows exclusion of income realized as a result of modification of the terms of the mortgage, or foreclosure on your principal residence. Please consult with an attorney or … (0 comments)
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foreclosure: Bob Hertzog, North Phoenix and Scottsdale CDPE (Certified Distressed Property Expert) - 04/07/09 04:03 PM
What Is A CDPE?
The developers of the Certified Distressed Property Designation (CDPE) believe that in almost all cases, the best person for a homeowner in distress to speak with is a well-informed Licensed Realtor that has the tools needed to help that homeowner find the best solution for their situation.
Foreclosure is a devastating financial and emotional process for a Phoenix or Scottsdale Short Sale or Foreclosure homeowner to go through, and in many cases they go through it alone and without help of any kind.
An Agent who has earned the CDPE Designation has dedicated their time, effort, and … (1 comments)
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foreclosure: Attn: Phoenix & Scottsdale Homeowners! Foreclosure Vs Short Sale: Homeowner Consequences - 04/07/09 01:25 PM
According to MSNBC, over 1/3 of all Adjustable Rate Mortgages (ARMS) in the U.S. are currently in default. This number is probably higher in the North Phoenix & Scottsdale market (which is market that I specialize in).
Our first goal is to direct our clients to a HUD Approved Loan Counselor, to see if their loan can be modified, allowing them to stay in their home. DO NOT pick up the phone and call one of these so-called "Loan Modification Experts". Several of these companies in Phoenix are currently being investigated by the FBI and/or the Arizona Department of Real Estate. … (4 comments)
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Bob Hertzog Phoenix Short Sale Agent, Designated Broker
Phoenix,
AZ
More about me…
Summit Home Consultants
Address: 7702 E Doubletree Ranch Rd., Suite 300, Scottsdale, AZ, 85258
Office Phone: (602) 957-1583
Cell Phone: (602) 909-5994
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