Our Story w/ Indymac SUCCESS!!

[colahhh08]

Well, been quite some time now and have not heard any updates on our proposal. Marshall reminded me a couple weeks ago that we did ask for a lot so it may take some time. May will be the 1st month in our life that we will miss a mortgage payment, we exhausted our savings between staying current and paying our prop taxes. It was a good thing we had a savings to exhaust!! I just hope it wasnt in vein!!

-Craig

[Cat Damiano]

Craig,

Good Luck on the mod..........I hope you have some good news soon..

[colahhh08]

It has been a while, again, and still nothing new to report. We are now 3 months behind to Indymac and have stopped paying Specialized Loan Servicing(2nd mort). My wife has just about given up but I am trying to stay positive. It does get a little discouraging to see all the mods being approved and know that we have been at this since Feb. and still in limbo, or purgatory.
It is good to see other people showing up on the board fighting Indymac and making progress, I think I was like the first Indymac loan on the board. Good luck to everyone.

Craig

PS - I did write a letter to the CEO of my company asking why, with the burden we have, we cannot take an in-service withdrawal of ALL my 401k funds, approx $90k. Surprisingly he responded in like 5 minutes and has escalated to SVP of HR and a few others. Cant hurt to ask right, I am 100% vested as I have been there 16 yrs and technically the money is mine!!

[Cat Damiano]

Craig,


Alot of the IndyMac mods are getting close.........they said that with the FDIC taking over they are being forced to resolve them quickly.......

[colahhh08]

Originally Posted by Cat Damiano

Craig,


Alot of the IndyMac mods are getting close.........they said that with the FDIC taking over they are being forced to resolve them quickly.......

That is good news, lets just hope the investors are onboard!! Oh yeah, almost forgot, comps in our area........ $450,000, our loan balance $590,000!!!! Our house was valued at $725,000 18 months ago

[colahhh08]

Received a welcome vm from Marshall(our atty) today, we have been approved for a loan mod with Indymac!!! We do not know the terms yet, mod pkg being sent out. So it looks like we have 1 foot in the success section and 1 foot still hanging in the tell us your story section, for now.

I will post more info once received. I am excited but not woohoo lets party excited, yet! Time to work on the 2nd mortgage now!!

-Craig

[Cat Damiano]

This is great news Craig..................

I know you will let us know the terms once you receive it............

[Jo~Kiwi~]

Great news Craig!!! Our mod with IndyMac was just approved this week too!! There is no doubt in my mind that with the Feds getting involved things are speeding up for IndyMac customers. Since emailing all of the "higher-ups" that Cat listed, this week alone we've had voicemails, emails, a modification offer and today a letter in the mail from our liason letting us know that he's available to answer any questions we have etc. This from the bank that has given us the run around, lost our mod application info, neglected to tell us they needed more info, and only given us the standard "call back in 15 days" line to this point!!

Good luck!!!

Jo

[RudyJay]

Waiting on bated breath to hear both your terms Jo and Craig.. Good luck ... rj

[elpjohnson]

CONGRATULATIONS.....Craig (Jo too!!!)

That's awesome news.....very proud of you and of Marshall for pulling the mod off.....can't wait to hear your terms.....waiting with baited breath along with rj.

[angel83]

Congrats!

I'll be waiting to hear as well.

[colahhh08]

Let the games begin!! So we were told on Friday, 07/25/2008 we are approved for a mod, paperwork sent O/N !! Here it is Tuesday, 08/12/2008 and STILL NOTHING, did they send via pony f****** express!!!! The new story is that the docs are supposed to be delivered to our lawyer today, we are not holding our breath!! It is becoming clear that Indymac has no desire to work with us.
Totally frustrated, pissed, dejected, etc.!!

[elpjohnson]

WTF!?!?! How can this be? WTF is Marshall doing about this? I would be all over this big-time! I am so pissed for you, Craig!

[indymac non-believer]

Hello,
I believe we are the "other" Indymac client that hired Marshall to fight our cause. Like you, we were also told that our loan was modified on July 25....still waiting on those papers....our sale date is Aug 28.

We have a neg am loan that went from 3371.00 to 8999.00 last November. We contacted Indymac immediately to try and modify..they denied us. We tried again..they ignored us. We had refi set up conditional upon no prepay penalty..Indymac refused. In Jan, we hired Marshall. He found several violations in our loan docs and has been working on it ever since. On July 25, they told him we were approved. No papers. Then they told him papers would be delivered to his office this week..nothing.

Then , a phone call from Steve Clarke at Indymac. Per Steve, there is nothing in their system saying we have been approved for a loan mod.
He says if we pay 5500.00 for three-four months, they will then consider us for a loan mod and meanwhile, they will postpone the sale date. Marshall is supposed to be receiving papers from him today. still waiting....

Do we trust them? that's the question of the day....