Indymac Bank
Reviews and Complaints
www.indymacbank.com
Anonymous
Monroe, Michigan
Indymac and others
I am wondering what happened to all of the so called intelligent people in the United States?? Ok- I can understand people with more than $100,000 making a run after Chucky boy opened his mouth- their money was uninsured after $100,000- my questions is basic economics- why on earth would anyone put more than $100,000 into an account that is only insured up to that amount??? What's with all the people who had $20.00 in their account , waiting in line just to get it out? All the people that bought property that they could not afford?? OK- you may say I could afford it when I bought it , but the interest rate went up- hello!!!!!! You signed papers on that adjustable rate mortgage that stated that it would go up or down- ADJUSTABLE means just that!! My bank told me I was approved up to 200,000 for a mortgage- well guess what, I am still comfortably making my payments because I knew what I could afford to pay each month and still have a cushion each month. (I went for the house that was only $120,000) I am beginning to believe that there is no common sense in this nation, it has truly become a me me me country where everyone believes that they deserve to have all of the toys, high price houses, cars even if they can't afford them- try cutting up the credit cards, driving a reliable used car and buying a house that is within your budget- and DO NOT blame the president, government or banks for your own stupidity!!!
Anonymous
Melbourne Beach, Florida
Indymac mortgage
I am one of the forclosures with Indymac. My home is one that I live in, so I'm not a "house flipper". So, things are bad and I get in touch with Indymac's loss mitigation specialist. Basically, all he has to say is that I either have to come up with a lump sum to refinance or I have to furnish proof of more income! If I had money I wouldn't be losing my house!!! To top it all off, the house is now not even worth $125,000 (not selling at that price on the MLS over the past 8 months). This Indymac guy says if I refinance the house is worth $164,000...I am wondering what planet he is on? Now, I've written Micheal Perry CEO for help, one week ago, and have heard NOTHING!! Now, wonder why the banks continue to fail. If they operate like this one, their properties are just going to rot and lose value, instead of them getting something......they are chosing to get nothing...
3 comments
ltema
Boston, Massachusetts
Indymac employees lied about FDIC insurance..and now they are gone
My father deposited funds at Indymac with three beneficiaries. He asked if all three beneficiaries and himself would be covered by FDIC insurance - the bank employees said Yes. When Indymac folded, FDIC informed he would only have coverage for the three beneficiaries and now he is out a lot of money. We are trying to figure out how to file a suit against the new Indymac entity owned by FDIC. Know of any good Banking lawyers in Pasadena? I see other postings here of people in the same boat. What are you doing? We are up against the 60 day deadline.
5 comments
Anonymous
Sedona, Arizona
Pissed consumer....re: IndyMac bank failure- can't e-mail your list
I cannot reply to any of the people who have posted complaints about IndyMac bank.... the links seem to go to commercials... how the heck can we connect. If it's not too late now? Most of the postings were requesting others to connect with them who had similar complaints? If we are to file a complaint jointly, we need to be able to connect. I have spoken to several lawyers, and they all say I have a case and I have filed with the courts. I have a lawyer who would happily take on this case if there were more than one of us filing complaints with the FDIC for taking our money when we were told that we were led to believe we were insured? Please let me know???
1 comment
Charles M Hld
Los Angeles, California
Indymac lied about insured cd's, now withholding funds
We would like to pool our resources and network with other depositors who were assured of FDIC insurance on cd's by Indy Mac Bank personnel and now find themselves cut off from their own money. with only 60 days to register a complaint. contact charminmillett@***.net. together we may be more successful than individually. Our complaint is so similar to others we have read here. We questioned the fiduciary responsibility of Indy Mac and FDIC's oversight. we believe they had a responsibility to tell the truth when publicly banking our savings in insured certificates of deposit. let's get together and pool our resources quickly.
1 comment
Koti
Foster City, California
Indy Bank
I agree with "Pissed Off" I was fed the same story and if they aren't investigating the charges by the average american citizen that was taken for thousands of $...shame on our govenment. Of course the operative word is average, there to stick it to where ever there's a buck to be made. Thanks for looking out after us. I've gone to over 6 other banks and got 6 different answers about FDIC. What is clear, our government is more concerned about it's institutions then it's citizens, many of whom are seniors and suffered a great loss!
1 comment
sumac H
Bakersfield, California
Six Months of "Working W/IndyMac" Nothing !
I procured this loan from IndyMac Bank in '06 and payed a month in advance so I wouldn't have to worry about being late. It stayed like that till they told me there was nothing they could do to help me because I was a month ahead. I have senced lost my job and am on disablity. My income is far short from making my house payment, but I had savings till now. I have called and spoke to at least 10 different people, some that could help, but won't. They keep telling me to call back in two weeks and every two weeks I call and there is no modification to be had. Just me being HAD !!!
Loss:
$163
3 comments
elaineouyang
San Jose, California
Indymac Bank lied about my FDIC coverage
I am writing to let the general public know how corrupted the U.S banking system is. I have two cd accounts at Indymac. I was repeatedly told by Indymac employees that they are fully covered by FDIC. I even have something in writing from 7/8/2008 stating my funds were all insured. Yet, I just found out today that a significant amount of my funds were not covered. I am devasted. I worked so hard so for the money and now they are gone overnight. And the worst part about it was, I tried to add joint account holder or beneficiary to maximize my FDIC coverage just few days before they closed, but did not do so because two Indymac bank employees told me my funds were already fully insured. I want all americans to learn from my mistake and know that their money are not safe with banks. The funds may not be FDIC insured, even if their bank tells them they are. The U.S banking system is totally corrupted. Whether Indymac bank employees lied to us intentionality or they just did not understand FDIC coverage. Banks cannot be trusted! US banking system cannot be trusted!
Loss:
$25000
10 comments
susannaholt
Sedona, Arizona
IndiMac - and FDIC gave me conflicting advice.
I opened two CD accounts with Indymac, and requested my son to be on the accounts in case anything happened to me, i.e. injured, or out of the country. When the paperwork came for me to sign I called the bank for clarification as the terms were not what we had discussed. I don't know bank terminology, but I do know what I was asking for, and until I got clarification, I wasn't going to sign. They never got back to me, and then the bank went under. ..... is anyone else in the same boat? I am going to contest this... Susanna
1 comment
Kwawegen K
Northridge, California
Mike Perry Gone
Well is any one want to write a complaint to Mike Perry about IndyMac Bank you may as well burn your letter. Mike Perrys email address is no longer valid. Furthur proff that this institution is not doing any good especially when the one many who may be able to give some satifaction had abandonded his own boat. I am convinced that talking to walls would be a much more productive encounter. Well the only thing I could sugest to anyone is to take this a step furthur up the ladder. There is a small chance that it may work.
19 comments
cheated Xej
Irvine, California
Indy Mac Bank officer lied about my cd's being 100% insured
When I took out additional cd's, all with the same beneficiaries, bank employees said I was 100% insured. I called the FDIC and they verified the same. Now that the bank has failed, the FDIC said I was only insured for half of it, and not 100% like I was assured that I was. So far, I have only received 75% of the my funds and the FDIC will not release the balance. They only say that someone gave me the wrong information. Strange the bank and Indy Mac both gave me incorrect information. Has anyone else had this experience?
2 comments
toms
Washington, District Of Columbia
Indy Mac Bank is DONE!
From an email this morning: "Indy Mac is closing TODAY. The entire Marlton NJ office is apparently being shut down and their other operations offices are closing. All wholesale operations are gone." As this news rolls across the country, we will keep you updated on developments. One source says as many as 4,000 people will be laid off. It's early in the day, but an official announcement is expected within hours as to the extent of the shutdown. 7:45 am (PDT) - Bloomberg is showing trading halted. Original Ailing/Watch Listing - 2008-06-30 (6:30pm EST): At 5:45 pm (EST), the following email was sent to customers of Indymac's commercial lending unit, Indymac Commercial Lending Corp.: "ICLC, due to the current market and capital constraints has ceased lending operations as of 7/1/08. A formal announcement from ICLC will be coming out tomorrow regarding details and loans in process." An official notice was sent out shortly thereafter. Referring to today's press release on The IMB Report, Indymac's company web site, an LA Times report refers to "a weekend that saw depositors line up at some of its San Gabriel Valley branches to pull their money, as they reacted to news reports questioning the company's survival." Indymac's article responds with "while branch traffic is somewhat elevated this morning, it is substantially lower than on Saturday, and we are hopeful that this issue appropriately abates soon..." Update - 2008-06-30: After the opening bell, Indymac Bancorp Inc. shares dipped to a morning low of $0.60. IndyMac was one of 12 stocks removed from the Russell 1000, moved to the small-cap Russell 2000 Index per Yahoo Finance.
3 comments
Kadsmommy B
Pittsburgh, Pennsylvania
Almost made me loose my home!!!!
IndyMac Bank is the worst bank known to man!It all started on oct,2006.They we're to put my mother and my fiance on the mortgage and didn't.They just put my mom on it. Then they told him that he can refinance in a year with them.Wrong!We have tried they said they don't know why someone in their company would tell us that.We have our loan escrowed.That means nothing! They don't pay my taxes!I had to fight them to pay my taxes with the money that they have of mine for my taxes.Then they tried to tell me thats its my responsablilaty to send them the tax info so they can pay it.Nope i called my tax collectors they send it to IndyMac to pay their self.So i don't have to! They tried to argue that with me,saying that i need to send it! lol!!! The tax people were sending me delinquit info on my property and house.They were having a lein put on it.Once again IndyMac's fault!! Now i am two months behind on my mortgage.Because they told me not to pay till after July 2. So i can get a mortgage adjustment.Ha!! Now i am stuck for getting a mortgage with someone else. By the way their mail room has brainless workers in it!!!!! They never get their mail that you send to them.They also have broken fax machines because they never can get a fax.No matter how many times you send it , they never get it!! So the point is the screwed me for now!!!!
Richard R Hhp
New York, New York
Withdrew alot of money from my accounts
Indymac Bank withdrew alot of uninsured money from my accounts. If any other customers are in the same boat as me, and are in a lawsuit with Indymac Bank or any responseable pardy. I am interested in joining up with you. email richardrokita@***.com I was out of town when Sen. Charles Schumer posted his letter on June 26, that called 911, which caused people to to withdraw 1.3 Billon in 11 Days. The next friday Indymac Closed. The following monday they were open for business,offering high yield CD's etc. Nobody went to jail or Anything, and we were all screwed out of our money.
5 comments
Brenda S Vcg
Miami, Florida
Indymac not honoring construction to perm agreement
we have a construction to perm loan with Indymac. We went SIVA, now they won't honor that prior agreement, saying that do not accept those type loans anymore. They did offer us a 9% loan when it goes to permanent. The house is not completed, the construction fund frozen, They even transfered money from my construction fund to make my mortgage payment with out my authorization! now the construction fund is short! The FDIC took them over 30 days later. Indymac made sure it got it's money for the mortgage payment, Sounds like a case of fraud. They are denying my appraisals and low balling the home's value. They said I should never had gotten the loan from the start. I am losing all my homestead and my investment money. And they do not care.
7 comments
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THEY DONT EVEN LET U TALK TO ANYONE ABOUT YOUR ACCOUNT NOW AND THEY TAKE FOREVER TO DO ANYTHING SO I AM DONE WITH INDYCRAP THEY CAN HAVE THE HOUSE THAT IVE BEEN TRYING TO PAY FOR AND SHOVE IT UP THERE ***.
INDYCRAP SUCKS I HOPE THEY ALL GO TO ***
The incentive for the bank to modify a loan is two-fold. One, to make the bank more attractive to a potential buyer by not having as many loans in foreclosure.
By modifying the loan, the homeowner is taken off the foreclosure list, and the amounts outstanding plus interest and late fees are put to the end of the loan. The customer then has a new interest rate, making the payments affordable.
Please please make sure you are upfront with whomever is modifying your loan, if you were non-escrow for insurance or taxes and either of these are delinquent- have the bank force escrow and get them paid prior to modifying your loan - otherwise, this may make your monthly payment much higher if it's done after modifying. On page 5 of your deed of trust (standard form used by all mortgage companies) the bank may force escrow if they feel that the property is in danger of tax sale, being forclosed on for taxes or is not being properly insured.
This is to the consumer that made a complaint on October 9th, 2008. First, If you tried to contact Mike Perry, you will be waiting a very long time for a response.
Second, Go to IMB.com and apply the correct way for a loan modification.
I am left to wonder if you lost your job that you would be in foreclosure to begin with? If not and it was that you got such a great rate with a adjustable rate mortgage- then maybe you should have read all the paperwork about how they work.....
and if you didn't pay taxes or insurance- if it wasn't something you were expecting to be so high- maybe you were not educated enough or ready to be purchasing a home.
This is not meant as a slam against one person- but against all of those crying that they're rates went up and now they can't afford to pay- hmmmmmm- maybe they should not have bought in the first place as clearly they were not ready to face the consequences when they came!!!!