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Time is NOT of the Essence!
What are your thoughts on Bankruptcy Judges handling the current Foreclosure crisis?
It's obvious that the servicers cannot keep up with the current demand of Short Sales and Foreclosures. Just today, when calling for an update on the two Short Sale listings I currently have listed where IndyMac Bank is the mortgage holder, I was told that they receive at least 500 new Short Sales per day!  The  Short Sale package was sent to IndyMac Bank along with offers for each at the beginning of October.
Needless to say, time has NOT been of the essence for IndyMac Bank.  Last week I was given email addresses for the negotiator but have heard nothing back from either one.  This morning I was told that there is no other solution but to just wait until I receive an email from both negotiators. No phone number will be given out and no projected date was given when I might anticipate hearing anything.
It is obvious to all or at least it should be, that the servicers can not handle the load of all the homeowners in trouble with their mortgages.
Check out CNBC's video on Housing's New Fix and see where you stand.
My question is how in the ... more

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