My husband and I, like many homeowners with liens held by Indymac bank are in danger of losing our homes or...
My mortgage broker represented himself as a broker, but was not a broker. He was a paid solicitor for First Lincoln Bank who was supposed to be the lender. First Lincoln Bank became the broker and Indymac Bank became the lender.
First Lincoln Mortgae received a fee from Indymac Bank and also a fee from me.
There may have been more than one truth in lending statement at the closing.
The office that was supposed to be a First Lincoln office was an unlicensed branch office, which is illegal in NY State.
The monthly payment cahanged after the first statement.
Indymac collected my escrow but failed to pay my real estate taxes for over 2 years.
If anyone has had a similar experience with Indymac Bank please let my know at [protected]@aol.com
I am a state employee, in Janurary of this year I lost part of my income which resulted in falling behind on my mortage. This bank did everything the could to NOT COOPERATE with this customer. I have a list long of excuse after excuse of why they could not help. This was after doing a 3 mo plan to collect money from me to denie me a modification. Now I have HAD IT with these lenders. I am now sueing this company in Federal Court. Guess What? Now the modification, the Short Sale and all of the times they put me threw undue stress and
a nervous breakdown, Oh now they are cooperating. Go figure. These banks are not about helping people they are about giving you a home they new you could not afford and counting on you falling behind and taking it back to profit off the people. All after you paid for years of interest only payments or what ever s----- loan they baited you with.
This is what Indymac Bank has done for us!!
After selling the farm equipment (bobcat tractor, horse trailer, ranch tractor, etc) just to make house
payment because I had became disabled and could not work anymore Indymac mortgage service)One
West Bank). devised a Forbearence Plan after putting the house into foreclosure . The agreement wasTo
pay $2, 476 on 3/31/09 then cosecutive payments of $1, 611.11 on 4/30, 5/31, 6/30, 7/31/09 The next payment
was to be a balloon payment of $11, 545.98 0n 8/31/09. We could not afford to make the balloon payment for
8/31/09. So as to the forbearence plan we contacted Indymac to discuss our loan.They sent us paper work
after calling them over and over again. They told us that they would not except any payments from us.
finnally on 9/17/09 we were able to get all the information they wanted and faxed 32 pages to them. We
recieved a letter the next day dated 9/16/09 stating that are adjustable rate mortgage was scheduled for
an interest rate and payment change.
A new interest rate 4.50000% was effective 10/01/09 and a result our new payments would be $1, 019.93
and after escrow and insurance it came to$1, 282.21 due as of our November 01, 2009 billing statement'
The next letter recieved was datasd 9/25/09 telling us that we had to wait 30-60 days as they reviewed the
documents that we had sent on 9/17/09 to make their decision about a loan modification?
All this happened including a call to Indymac to confirm the letter of 9/16/09 on monday the 17th of
september, with the conformation number they provided in that letter. All seemed well, but confusing.
The evening of 10/7/09 A person saying that he was the husband of a realtor (Century 21, Kim Dursh,
Escondido, Ca.) Told us that the house was sold? We were devistated, We showed him the paper work
he said he could do nothing, Gave us his wifes bussiness card. We called her she said what a horrible
mistake must of took place. The next day She started calling us trying to get us to sign some paper saying
we would remove everything off of our property in 2 weeks and that included our renters and she would
hand us a cashers check for $5, 000, or in 3 weeks $3, 000.
Our renters have become part of our family. How do you throw family out on to the streets? This
Century 21 Realtor (Kim Drush) Told us that she was acting as the legal part of Indymac Bank!
She also told us that the money she was offering came from the new owners that had bought the
property. These were all lies!
From 8/2009 till now We have hired a lawyer to help us Paid $750 for nothing, went to a bankruptcy firm
said they could not help us, tried legal aid got turned down because we made to much money, Missed it
by just a few dollars! The home was sold on 10/05/2009, went back into Indymac Mortgage (One West
Bank) Service.Cherie is now broke, her credit ruined and her home of 23 years taken by Indymac. There
is a feeling of hopelessness, dispare and alone! No where left to turn to. Owning 3 horses has now
become a problem, can't afford to board them may have to put them down, they are like our own kids,
brothers, our family.
Where now asking the question does anyone know the answers that may help???
Requested a Loan Modification in January of 2009. Submitted all required information. Waited until April to inquire as to our approval. Told they received no paperwork, reapply. Resubmitted paperwork by fax and registered mail. Waited 2 weeks again told 60 to 90 days for approval, but they had all our paperwork. Waited one week, no word, new rep states paperwork is not there and requests we resubmit required paperwork. In the mean time they want to foreclose on home we were behind 2 months, we sent the payment as instructed to Kalamazoo office. 10 days go by and check has not cleared the bank. I call again and they state they never received check and now we owe 3 months. I tell them we sent the check registered and have received the return receipt and they come back on the phone and state YES we have it, it just is being held and they do not know why. No, they know nothing of our modification please resubmit. Same situation happens again with a registered check now we are told the Kalamazoo office listed on their paperwork instructions is no longer there. All communication is thru Phoenix AZ office and must be remitted to that PO box. Again, no work on the modification. Woman now says they are acquiring new investors and to call back and resubmit our paperwork for the modification loan again.
Please pay mortgage on time, and then we will send your statements to you. We are now owing 1 months payment and they will not modify the mortgage. The point here, is we are up to date and need the help and do meet the requirements, however they will not help us . All we have are different conversations with many different people all saying different information. We are so upset.
They are the most unorganized bank in the USA. No wonder the government had to take them over. We have a small equity line of credit that has payments of approximately $150. per month. For the past 2 years we have always paid $500 per month in order to get the line paid off. Payment due date is the 26th and we have until the 9th. Indymac begins calling the house on the 27th at least 10 times per day. We not longer answer the phone when they call. How in the world do they get away with this stuff? Someone really needs to police them better. Best not to do business with them if you can avoid it.
I also have issues with this bank, funny thing is I am a Mortgage Underwriter, employed by one of the largest mortgage Insurance company's in the country. I purchased a home 2 years ago. I put down 16%. Mortgage Insurance is based on your loan to value. 20% down, and there is no MI.the more you put down, the lower the mortgage insurance. My Mortgage Insurance should have been just under 80.00 per month. My first mortgage statement came, the mortgage insurance premium was 200.00 per month. I immediately called, got no where, they told me I didn't understand how MI works! I explained look at my loan application I am a MI mortgage underwriter, and understand more than you do. They said I signed closing docs agreeing to that, refused to help, refused to admit they were wrong. Even though Mortgage Insurance rates are on a chart and they were collecting way to much. the person I spoke with was ignorant. I ask for proof I initialed a page that had a 200.00 MI fee per month and eventually they sent one, it was not the one I signed. Because my company originated my loan I had the one I really signed. Confronted them again, they denied and said I didn't have my whole loan package. they have refused to help. I have tried to fight them but they drag it out and argue with you so much you could only fight the if you had 10 hours a day to do so. The stupid person answering the phone (several different ones) kept saying I didn't know how MTA arms and mortgage insurance work. I actually was cleared by Indymac to underwrite loans and sell them to them based on their guidelines. Told them I was the wrong person to accuse of not knowing how anything in the mortgage industry works. Owned a mortgage company for years, Have a special endorsement to underwrite FHA loans, and have worked for the two largest Mortgage Insurance company's there are. I have gotten solicitations from them to refi, he APR was lower twice than the note rate. This is really not possible, Unless they paid all your cost and gave you closing cost back, which is illegal. When I called to make them accountable for that, the people on the phone can't explain APR, they can only tell me their company knows how to do it and I don't. I do that all day and have for over 20 years. if this predatory lender goes out of business or takes a loss short selling its loans, it couldn't bring me more satisfaction. their incompetence and unwillingness to work out or correct their errors have hurt MANY people. to the person who posted the original complaint. Look at a loan called an FHA secure, might help you. Yes there is mortgage insurance. But the rate is going to be better than you will get for the next 4 years if you let the home go into foreclosure, you will pay if you want another home and have a foreclosure, you will probably pay excessive fees and interest because loan officers who do loans for people who have had a foreclosure for what ever reason seem much of the time to charge more for getting you a less than perfect credit loan. A FHA secure is some area's will go to a very high loan amount for a little while so consumers can get out of these loans. If I can help you I would be happy to, post a response and let me know.
I sent a certified check for $106, 000., certified mail, to pay on my house loan. They signed for it on 8/1/08 and this is 8/8/08 and no one has any information regarding this payment. It was signed, yet no one can tell me what has happened to my money. If I put a stop payment on the check, it will take 90 days to get my money back. Everyone I have spoke to at Indymac has a different story and I am very upset and frustrated. When I pay off my loan I will never do business with them again. I see why they are having trouble.
With the economy we all are faced with this institution constantly has been hassling me for a late payment, when they don't pay there debt on time.
When refunding for escrow account overpayment they on 3 occasions sent the wrong amount, who does there record keeping?
I like all of you fill the hands of the oil companies sliding into my pocket daily for my commute to work, and even though I have called loan resolution, and customer service to inform them of the payments status the next day they call 3-4 times, I hate to see the economy hit the wall like this but enjoyed the news about them crashing.
IndyMac Mortgage purchased my loan from another company. After about a year into my "3 year -fixed" adjustable rate loan, my rate adjusted. 3 months later, it adjusted again. As I put the house on the market, I was told I had to pay $300 just to find out if they would accept a short sale and then it could take weeks to find out. My buyer was eager to purchase a home and refused to deal with IndyMac and their crazy terms therefore, I lost the sale and ultimately the home. Before walking away, I again received another notice from them saying my rate was to adjust again. To this day, I still cannot figure out how a 3 year fixed rate on an ARM can adjust 3 times in 1 year. Put me in for any law suits that come up...they are getting what they deserve from the Feds. Also, my home has now been vandalized as they have yet to secure it since the foreclosure. It's been 7 months already. Glad to see them loose in the end.
I received the Short-Sale approval on June 6, 2008. Christerfer Boyett, Loan Workout Specialist, fax the...
I received a loan from Indymac Bank in 2006. I was told at the time when the house was appraised that it was fenced (not, cost me $1, 800). When the loan was ready to be signed I was told the interested would be re-adjusted once I got to AZ, I was living in TN. When I inquired about it they acted like they did not know what I was talking about. I filled out an application for hardship and every time I called they told me something different and could never talk to the same person twice. I'm not surprised they fell. I will be taking legal action against the company and the loan they gave me. This should be aganist the law!
We fell one month behind in our mortgage w/indymac. When my husband called to make payment arrangements, the nice young man on the phone told him that there was really nothing that they could do til we were 3 months behind. When a person is 3 months behind, then there are a bunch of things they can do, so just wait, don't pay and call back then. Little did we know that the bunch of things they could do would be - put your name in the paper under list of foreclosures. Then give you the option to walk away with no place to live and no credit or pay an extra $500 a month for the next year to catch up - oh and by the way, it would be best if you could wire the money (only $70 for that transaction) if you can't do that, make sure that it is certified funds because we won't take your personal check.
Talk about bad business practices, I sure want to know if their professionals did this to anybody else out there.
Indymac devalued our home while in construction - they said they have been directed to be conservative...and refused to give us the money to finish...we qualified for the money. And the property rates have stayed steady in our area. 7 months later, haggling and haggling and after speaking with Mike Perry they gave us the money...but that's after paying $4000 interest payments ...65K and of course there not enough to finish because we paid so much out to INdymac. Then they offer us 8.75% roll over to fixed mortgage...We cannot afford this mortgage and they know it will drive us into default...so great we finish the house get their high priced loan and we end up defaulting and they end up with our house! SNEAKY...We are trying to finish the house ourselves...we owe lots of workers...that we committed to when we saw our appraisal (it took indymac 3 months go get back to us after the appraisal was done)...this is clearly predatory lending. Anyone out there forming a class action suit please contact me here in these postings.