Good News As Teamwork Prevents Foreclosure Sales With IndyMac Loans

Good News As Teamwork Prevents Foreclosure Sales With IndyMac Loans

Good News As Teamwork Prevents Foreclosure Sales With IndyMac Loans

Short Sale Prevents Foreclosure For Divorced Couple

With all of the gloom and doom real estate news out there, we sometimes like to offer positive outcomes that come as a result of professionals and homeowners fighting the good fight to improve a homeowners situation.

We got word of a couple scenarios that made us smile. Firstly, the bank took into account additional short sale information and the second involved a lengthy loan mod. Both scenarios prevented two more foreclosures.

The first situation involved a divorcing couple who determined that neither could stay in deeply underwater home. Neither could afford the home with a reduction of income for both and each calculated that it would be impossible to live there separately.

The house sat on the market for a year and a half on the market however the bank refused a number of short sale offers.

One of the major short sale problems came about because in the BPO process OneWest/IndyMac lacked the awareness that the house practically sat on top of a freeway so the bank had a faulty valuation. Therefore the property could not sell at a price compared to homes in much better locations.

The resolution and successful short sale only came about with the cooperation of the servicer, investor, agents and community working to together.

Loan Modification After 4 Years

The second scenario concerned one Nevada agent who helped her clients successfully complete a permanent loan modification after four years of working on it. She said that no one ever believed that it would happen. Now the homeowner can live in her home forever. Persistence works.

Yes it does.

Good News As Teamwork Prevents Foreclosure Sales With IndyMac Loans

Good News As Teamwork Prevents Foreclosure Sales With IndyMac Loans

Good News As Teamwork Prevents Foreclosure Sales With IndyMac Loans

Good News As Teamwork Prevents Foreclosure Sales With IndyMac Loans

Good News As Teamwork Prevents Foreclosure Sales With IndyMac Loans

Good News As Teamwork Prevents Foreclosure Sales With IndyMac Loans

Good News As Teamwork Prevents Foreclosure Sales With IndyMac Loans

Good News As Teamwork Prevents Foreclosure Sales With IndyMac Loans

Good News As Teamwork Prevents Foreclosure Sales With IndyMac Loans

Good News As Teamwork Prevents Foreclosure Sales With IndyMac Loans

Good News As Teamwork Prevents Foreclosure Sales With IndyMac Loans

Good News As Teamwork Prevents Foreclosure Sales With IndyMac Loans

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Filed under Banks, Foreclosure, short sales

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