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foreclosures: Need to complain about Indymac no more - 07/12/08 11:12 AM
A lot of us are actively involved processing shor sales with Indymac.  There was a lot of frustration out there with the way Indymac was procesing files (Indymac is a pain). The need to complain is no more.  Indymac was taken over by the Government.
Now we have to anxiously wait to see what happens to Indymac's assets and who and when will take over loss mitigation function of Indymac. I have two current sales being processed (close to 6 months each).  I received short sale payoff approvals on both, however there was a  mixup with the one and it was … (8 comments)

foreclosures: Why loss mitigation and short sales are not happening? - 06/16/08 10:26 PM
                                              
Many of us realized that lenders and mortgage servicers are giving short sales a “cold shoulder”. It simply doesn’t make sense that lenders and mortgage servicers don’t seem to care for success of short sales, as they don’t seem to have incentives (!) to do so. A good friend of mine and even better broker sent me a link to the excellent article from Money magazine – “WHY MORE HOMEOWNERS AREN’T GETTING HELP? It is an eye opener.
Did you know “that servicers have financial reasons for not helping homeowners who fall behind? As middlemen, they are paid a … (5 comments)

foreclosures: Why NAR shouldn’t Ban Short sales - 06/13/08 04:58 AM
                                           
You possibly have read the post “NAR should ban Short Sales”. Let me strongly disagree. Even if they could, they shouldn’t. We all need succesfull short sales and no-one more than lenders. I understand the frustration with the process. Lenders present to us total inability to handle the volume. But it is not just the volume. Most lenders “defend” themselves from doing short sales in a false hope that right after foreclosure, the price will move up again. They simply didn’t adjust to the new reality that it might take a while for prices to start moving up again. … (8 comments)

foreclosures: Senate panel passes housing rescue plan - 05/21/08 01:47 AM
One of the key problem faced by home owners facing foreclosures is inability to refinance. The House has just approved the rescue plan to provide cheaper, government-backed mortgages to half a million debt-ridden borrowers. The plan would let the Federal Housing Administration take on up to $300 billion in new mortgages.
You can read more about it in "Senate panel passes housing rescue plan". "Under the plan, lenders who agree to erase a large share of the original loan amount could win a government guarantee on future mortgage payments. Both the Senate bill and a similar plan passed by the House … (6 comments)

foreclosures: Countrywide and your neighborhood market - 08/17/07 01:37 AM

Have you thought what would happen to your neighborhood real estate market if Countrywide would stop making loans?  How dependent are buyers in your area on loans from Countrywide? Have you thought about that?  I had a discussion with my appraiser friend, Michael. He specializes in the Northern part of the San Francisco Peninsula. 
Michael pointed to me that in a few neighborhoods the impact could be potentially larger than in others. His remark came during our discussion of the appraisal for my client who was thinking to list a house in a month or two. Michael pointed out that … (12 comments)

 
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Artur Urbanski

Burlingame, CA

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Cimpler Real Estate, Inc.

Address: 533 Airport Blvd., 4th Fl., Burlingame, CA, 94010

Office Phone: (650) 401-2245

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