INDYMAC - 07/13/08 04:05 PM
I'm confused. Indymac writes a bunch of what may have been sub-prime, stated income, or Alt-A loans. Indymac forecloses on a bunch of those loans. Indymac fails. Government takes over Indymac.
#1 - Let's say I had my mortgage with Indymac."Experts" say that I have to still make my payments. But let's say I also had $120,000 in the Bank. FDIC insures me up to $100,000, so I eat $20,000, or at least half of it. INDYMAC screws me out $20,000, or some percentage of it at least, but I still have to make payments to them on the mortgage?
#2 - I know there … (12 comments)

HOA Documents - Paying For Them - Virginia - 07/09/08 07:44 AM
I recently had a person at an HOA tell me about "Virginia Deferred" - as I understand it - a new ruling where agents can order HOA Documents and have the cost of the package deducted directly from the HUD, thereby eliminating the cash out pf pocket we seem to incur on REO's.
Has anyone heard of this? If it is in fact a rule, code, law, or whatever, I would love to see it in writing.
Thanks
… (5 comments)