Hope everyone is doing well. Just thought I would check in. I have been busy, got laid off, etc. We still have not finalized our loan mod with Indymac. We made our 1st modified payment in Oct. as instructed. Tried to make payment for Nov and it was refused!! After talking to loss...
Re: Our Story w/ Indymac
Well, After 8 long months we are finally ready for the success section!!
Indymac modified our 1st to 3 yrs fixed at 4.8%, after 3 yrs we go back into our horrible pay option ARM. But for now this works. They added $16k+ to the principal for missed payments and our...
If you stay current on your 1st and default on your 2nd here in the great state of Kalifornia the 2nd position can foreclose? I thought the 2nd position couldnt do anything unless the 1st position foreclosed. I am talking purchase money loans here.
Thanks in advance,
Indymac's program is bullshit!! They are not even sticking to what they announced. People are getting mods from them, but they are still ARM's!! We have been trying to get a mod from them since Feb 08 and we are still at square 1 it seems.
I cannot even begin to tell you how happy I am for you guys!! You did it, enjoy it!! You may still be getting some venting emails from me tho ;-).
Hopefully you are enjoying the holiday that much more knowing you saved your home.
It sounds like this is good news for us Indy customers. After all the comments Ms. Bair made about the mortgage crisis and steps that should be taken prior to taking over Indy this was almost inevitable, or there would have been egg on her face big time!!
We will keep you updated on our...
Re: Our Story w/ Indymac
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...
Re: Help With Indymac
did your mortgage reset to an unaffordable rate or what has happened to make your loan unaffordable.
I may be one of the first to get a mod with a deficit, although our deficit is because we went from $2300 to $4700/month.
Re: Our Story w/ Indymac almost a success
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...
It may be that they are looking at this as the peak of the bad originating, bad underwriting, bad loans, etc.
It certainly could not hurt to start writing letters, senators, congress, govenor, president, etc. Hit them all up.
I may be in the minority here but I actually think this is a good thing. It will show who really wants to keep their home and who is looking for an easy way to make a profit and go rent. Just my $.02.