IndyMac borrowers battling to get modifications on home loans

Try http://www.HomeLoanModification.dyndns.org as they offer a service for free that refers you to a Qualified Real Estate Attorney.

Anyone that says you should try this without the assistace of an expert attorney, IMHO is nuts!

This about a Home Loan Modification and is truely too important not to have profession help. There are minefeilds of questions of which any wrong answer can result in your loan modification being denied.

I know that they are reputable, so give them a shot to work for you.

Home Loan Mdification: Sorry, wrong URL above. I'll Repeat with the correct URL.

Try http://HomeLoanModification.dyndns.org as they offer a service for free that refers you to a Qualified Real Estate Attorney.

Anyone that says you should try this without the assistace of an expert attorney, IMHO is nuts!

This about a Home Loan Modification and is truely too important not to have profession help. There are minefeilds of questions of which any wrong answer can result in your loan modification being denied.

I know that they are reputable, so give them a shot to work for you.

What a relief to see this article as I now feel vindicated in knowing I am not the only one getting the run around from IndyMac.....have wanted to reset my loan for the past 18 months to no avail. I put the request in writing then was told had to call to discuss...did that then told to put it in writing yet again...then told yet again that I had to call. They have no interest in helping their customers that have never been late on a payment, have strong credit ratings, and have an acceptable loan to value ratio even after the market corrections of late. Tried to refinance elsewhere but with two foreclosures in the immediate area we have seen appraisals take an unfair hit (short sales really mess up the comps!!)

First they added a 12 month prepayment penalty.
So I waited out the 12 months only to be told that my home no longer has any equity and cant refi.
Also I was current on payments so screwed.
Now on third try for modification, and stopped making payments months ago, and they dont give a sh$t. They are determined to foreclose. I loose everything I spent on down payments, fees, repairs,
remodeling and i am the dumb $$$ in foreclosure. Indymac Onewest sucks.

I want to warn anyone reading this and please tell everyone you know in this situation, DO NOT WORK WITH INDY MAC BANK directly on your re-modification, please get the help of a professional from the start. We worked with Indy Mac for several months believing they were wanting to help us keep our home, even sending in a check to stop foreclosure, they lied and refused to send me a copy of the loan docs. Today we are packing to leave our beautiful home because it was sold last Monday. We have the same story as the info in this article. I am interested in any class action lawsuit against them for this, please let me know.

We have been trying to modify our loan for a year now and its always a diferent story with them as to why they need us to resubmit the paperwork again. Now we are in foreclosure and have less than 3 months before we have to move out of our home. First they claimed they lost the paperwork, then they said that it was too old, then they said that we submited the documents past the deadline and now they said that the paperwork was incomplete. All lies, we have documented dates and contacts and copies of all the paperwork to prove it and they just finnally said that its too late. we need to expose them to the media and or file a class action law suit. I'm sure that there are many of us in the same boat. I will start a website dedecated to this and I will posted as soon as its ready.

Give the organization listed in the article a call. They are in Chicago. They have a meeting scheduled with IndyMac borrowers as well as reps from IndyMac/OneWest, the OTS and the FDIC. Someone needs to be held accountable for the way IndyMac is treating homeonwers.

Amen to all of you....
If you need any more ammunition to throw at Indy Mac come to NJ fast!!!! I cannot believe reading your paper and finding out just how awful this heartless bank is to deal with.. not that any bank has a heart, but we have been trying to work with them for 18 months now, long before our roof came caving in. I am disabled and was forced to leave my job at Xerox after 30 years. My husband's business went dead and after 3 years of looking for a job finally landed one last year only to be informed that in a few days he is being laid off. We have an awful ARM loan that is adjusting in the fall to double our payments and we saw this coming and have repeatedly contacted them and have had all our apps discarded. They cannot find them, they don't return calls even if you can get through to a real person. We have tried everything and have been cashing in all our savings to try and stay current, which is why they will not work with us. Right, go figure..it makes all kinds of sense to ruin credit scores of 813 and be late just to take advantage of a federal program. We are desperate and are looking into hiring an atty for us but why should we pay all this money we don't even have to try and get a modification with our own tax dollars being spent. INDY MAC IS THE WORST OF THE WORST... If you can get a grassroots campaign going against them, count us in. I have written to Suze Orman, CNN, and will do so with the President as well. I am sure, just like the others in your column we are hard working, honest, good borrowers and through no fault of our own now have a house worth only half of what we bought it for and NJ is just awful in terms of expenses as our property taxes just went to 11,000 to top it off. We need help!!!

Joanne

I can't believe IndyMac is doing this across the US. We had to submit our paperwork 3 times because IndyMac couldn't decide if our investors would accept both of our incomes or just mine since the loan is only in my name. Finally they gave us a forbearance plan and shortly after a modification offer. We signed the offer and sent it in. I called to make the first payment and was told the offer was denied 2 weeks prior. I never received a written notice or phone call from a rep asking for more info or anything. The reason: too much income. Although all 3 times we submitted, my incomes never changed. Because of the forbearance plan they put us on, it put us 2 more months behind.
What is worse is that I have 3 other neighbors with IndyMac loans trying to modify too. One was told their investors were Fanny Mae. After she submitted the paper work twice, IndyMac said IndyMac made a mistake and they don't have federal investors. They tried to submitted for a modification but IndyMac said it was too late. They can shortsale but have less than a week to put the offer in. The other 2 neighbors also received offers like mine and later was told they they were denied. One was told it was because he made too much money on the phone but in the letter it said they couldn't verify his income.
IndyMac has no intentions of helping anyone. I don't even think they lie. In order to lie you have to know what you are talking about. They have no clue. They don't want to help us so they have no guideline or rules.
My house has lost 45% equity and I am at the point where I want to play their game. I want to stop paying but keep submitting modification paperwork and keep getting denied. It seems like if they see you are trying to modify, they'll leave you alone. Great. My credit is already messed up and it will just prolong any negative outcome. Like I said, I want to... I just don't know what else to do.

I too have fallen in IndyMac's trap of unwillingness to help any of us. I tried doing whatever was in my legal power to keep my home. Without any warning my home went thru a trustee sale on 6/30/09 even after I requested a postponment on 6/22/09. Their answer was that my loan did not meet the criteria for president Obama's plan. The private investors decided not help me with my loan MOD and without proper notice. I will be instructed of vacated my home by the listing broker. Where did the bailout $$ go? I never asked for a handout but merely for a chance and yet who gives a rat's ass. As long as all those lenders have the government's $$ to cover their bad business practices its ok for us to be homeless.

Yes I do have ARM with Indy which will expire in July 2011
I have a hired a loan modification negotiater, and he just sent in my loan mod documents.
I contacted indy once, but they just brushed me off saying my ARM only expires in 2011 and I should not worr about it.
Hope this loan modification negotiater will help, he works with lawyers.
i will keep you posted the outcome

I've been on Indymac's marry go round for several month's which I fear has permanently stopped in shittsville.
I've submitted even it all, made offers of modifications that are "reasonable" if they want the money, but got a sale date instead. But I'm still in the 60 re-re-re modification bucket, which expires well after the sale date. But if I submit somemore toilet paper they "might" not flush, won't know until "after" the sale date.
So, I guess I already know the answer.

It's no longer about money but all about power!

"We the people" are done, as they count intrest free Govt. bailout money yet lite us up!!

This Obama Administration loan modification program is an utter failure.

Just like his stimulus program.

Were in the same boat. We were set up with at least 7 mods. this past year and each one they told us we broke them since they didn't recieve our check. They got our checks, in fact each time they sent them back to us. Now we have 55,000 in late payments and interest and there telling us that since we broke more then 3 modifications were not eligible anymore. We have 20,000 in the bank(the money they didn't take) and asked them if we could pay that towards the past due. They told me no. Tried to go to NACA but they are so backed up we decided were going to call an attorney tomorrow. Has anyone had luck hiring an attorney?

After 18 frustrating months dealing with IndyMac we finally decided to hire a broker and real estate attorney. With 1 or 2 phone calls he was able to break the log jam and possibly be able to broker us a deal. We are awaiting paperwork from Indy Mac with a possible modification and will post the results. Whether this firm knew the correct numbers to present, knew someone at the bank, or just from sheer legal expertise knew "exactly" what to say and to whom, let alone even getting to the right person, if this goes through well for us it will be worth the $ 2000 we are spending. We just gave up doing it on our own and as a matter of principle I am sooooo mad, but it is better than living on the stree.

http://www.pasadenastarnews.com/ci_12726730...

Link to article of interest

BOSTON GLOBE- 07-08-09 3% DEL GET MODS 91% TURNED DOWN
lAWYERS WHO GET THE JOB DONE!

SEAN dac 866-619-4797 EXT 139

Here is lot's of compiled information and how to take action: Please see blog http://indymac-onewestbankmodificationproble....

Get a lawyer as soon as possible and bring them int court. The judge will weight he facts and decisions will be made. A Lawyer is the only way.....Ive worked with IndyMac for 22 months and just finally was denied a modification saying that I didnt make enough money...but they wont let me use my wifes income because she is not on the Mortgage Doc's'''BULL****...get a lawyer...

Terri Allen wrote:

Get a lawyer as soon as possible and bring them int court. The judge will weight he facts and decisions will be made. A Lawyer is the only way.....Ive worked with IndyMac for 22 months and just finally was denied a modification saying that I didnt make enough money...but they wont let me use my wifes income because she is not on the Mortgage Doc's'''BULL****...get a lawyer...

What about NACA. Can they help as well as a lawyer?