I have my mortgage loan with INDYMAC???

User Forum Topic
Submitted by The OC Scam on July 14, 2008 - 4:37pm

Can any of you tell me what you think will happen regarding my loan?

1.Will the FDIC change my online payment setup?

2. Is my rate lock in no matter what??

3.Should I stop making my payment?

Third was a joke! But if any you know better because I would love to stop!

‹ Flipper alert !!! Freddie and Fannnie: telling it like it is. ›
I'm thinking the same thing
Submitted by nostradamus on July 14, 2008 - 4:54pm.

I'm thinking the same thing 'cuz my mortgage is thru wamu.

stop payment and put the
Submitted by drunkle on July 14, 2008 - 4:59pm.

stop payment and put the money in some kind of escrow account. like was suggested for landlords who get foreclosed on...

the fdic has halted foreclosure of any indymac loans. who knows if indymac even owns your mortgage anymore? stop payment for a month and see what happens... and report back the result.

stop payment for a month and
Submitted by bsrsharma on July 14, 2008 - 7:45pm.

stop payment for a month and see what happens

I hope he is joking; I think you should at least call and ask FDIC & IndyMac before doing anything.

Are you kidding ?? You
Submitted by HLS on July 14, 2008 - 11:15pm.

Are you kidding ??
You continue making your payments per your contractual agreement.
IndyMac Federal Bank is in business.

If you get one 30 day mtg late on your credit report you will have your credit score whacked and you will probably not be able to refinance for at least 12 months.

You think if I don't send my
Submitted by The OC Scam on July 15, 2008 - 8:47am.

You think if I don't send my August payment the new owner( Some other bank) of my loan will contact me for payment picking-up where we left off which could be 90 days at least from now? Basically my loan is in sort of limbo...interesting....

I agree I'm not going to mess
Submitted by The OC Scam on July 15, 2008 - 8:50am.

I agree I'm not going to mess with my Credit score!

Here is what the FDIC website says

"VI. Loan Customers
If you had a loan with IndyMac Bank, F.S.B., you should continue to make your payments as usual. The terms of your loan will not change under the terms of the loan contract because they are contractually agreed to your promissory note with the failed institution. Checks should be made payable as usual and sent to the same address until further notice.

For all questions regarding new loans and the lending policies of IndyMac Federal Bank, please contact 800-998-2900 or visit the IndyMac Federal Bank website at www.IndyMac.com."

This is from http://www.fdic.gov/bank/individual/fail...