indymac: The iPhone 3G Hits the Streets of Pasadena
- 07/16/08 01:30 PM
Granted this doesn't have much to do with real estate, but it does deal with the economy, so let's discuss briefly. The new iPhone 3G came out on July 11th, and people have been lining the streets of Old Pasadena since then. At the same time this week much the same line wrapped around IndyMac locations in the area, which we will discuss more in the coming blog (try and guess which one is pictured here). One Mac falls as another prevails. Is there some kind of correlation between the two? Probably not, but it shows the two extremities of the economy, and that if … (0 comments)
indymac: Pasadena Based IndyMac Bank Gets Taken Over by the FDIC
- 07/13/08 07:44 AM
Just a quick prelude to the news (Government shuts down mortgage lender IndyMac, AP), in our dealings with lenders during this roller coaster ride in Real Estate, we've heard quite a few odd excuses and tighter regulations due to the "credit crunch." Nothing compares to the following reasoning: as we neared the close of escrow, we received an email detailing that a loan (which had already been approved) was denied due to the appraisal coming in higher than the purchase price. No logic behind that, never have we or any of our colleagues heard of such a thing. Guess who sent us … (0 comments)
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