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Dear Mr, President, My daughter in law is was trying to do a loan modification and has been scammed by one company, then went through another they too gave her the run around and of course Indymac denied the modification with no explanation. This seems true with all homeowners and Indymac. They are the only bank that will deny the loan modifications. They were to be the example of this bill you passed for loan companies to do and they are the biggest problem of why homes are in forclosure. My daugther is losing her house the end of Nov. 2009. I have read so many complaints about IndyMac everyone with the same outcome, but no one is doing anything about it? Is there anyway that your administration can investigate this bank? The people need help!!!!
| Why would they modify anyones loan. They want to forclose on bad loans. When these loans they knew would fail do, the government covers the bad loan with your tax dollars. They made money when they sold you the ridiculous loan they knew you could never repay. They will also make money with the sweetheart deal they set up with our government to "bail them out" when you can pay because you lost your job, etc.. Indymac/onewest cannot fail because they are going to get paid, by the taxpayer, no matter what happens. Banks are not using the bailout money to help the citizens of this nation. They are enjoying the bennifits of controlling the system formerly known as the free markent ecomony. When they take your house, and they will, no sleep will be lost by them when they sell your house to the next sucker. This is nothing new. Read Upton Sinclare's "The Jungle". He who has the gold makes the rules-and rules. Obama, Bush whoever, they are all just puppets for the people who really run the show. |
| Here is the reality of IndyMac, a divsion of OneWest as to why they don;t want to modify loans....thanks to HAMP...Hurting Any Modification Possibility...Program http://www.associatedcontent.com/article/2381656/why_obamas_home_afforda... Second, your goverment is PAYING lenders NOT to modify loans.. http://www.associatedcontent.com/article/2394906/lenders_are_being_paid_... |
| I guess IndyMac finally realized that it would be better to have another mortgage modification on the books and collect a lower interest rate than have another foreclosed home on their books. |
| I have been having nothing but negative results with Indymac. Last year I was completing my construction loan and it was rolled over to a regular loan durring the Indymac crisis that same week. Unfortunately they gave me almost a 10 percent interest rate and told me that I had no choice. Hard economic times were also starting for me and several months later I was mailed a loan modificatin offer with out me asking for one. I completed everything in the package including a cashiers check for over 6,000. They credited the amount to my account balance and then I never recieved anything stating that they approved me. In december indymac was holding a massive event offering to modify loans. I took everything in and resubmited my package with a regional manager that was there. She said that it was unclear on why they denied my modification. Months later I go a letter just stating that I did not qualify for for a modification. No explanations were given. I resubmitted again and then waited and waited and another denial letter came in with no explanation. I resubmitted again and I gave preasure to the regional manager. She finaly came back and said that they refused to modify my loan. No reason again. She said sell your home because your loan is not modifyable.They then stared forclosure proceedings and I called them about a month ago and they told me that they are no longer modifying jumbo loans over $729,000. I whent to their website and the website confirmed it in red letters. Today I could not sleep and have been online since 3am and I decided to go into their website and Wow they removed the guideline. I am waiting till they open so I can call and get a package sent over if they are now considering large modifications. My sale date is on November the 5th I have less than 8 working days to stop the sale of my home and do a modification. I pray to God that I get the strength to completed this. I thank my saint Saint Jude for helping me accomplish this great success. |
| Ray I just saw your post, what happened? Please let me know your outcome - this is so ridiculous - I need your letters! I am outraged.http://www.askaloanmodguru.com |
| Thank you for the links on the MHA HAMP guidelines. Very interesting, but it makes sense as too why this is a nightmare for homeowners and these programs are not providing the relief that it was all hyped up to be. |
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OneWest Bank/Indymac - I want your letters!!! I want to fight