Indymac Bank
Reviews and Complaints

well...again, they offered a small amount for cash for keys. And was ready to be out in less than the 21days. BUT IN AGREEMENT IT STATES APPLIANCES..FANS..TIFFANY LIGHT FIXTURES I BOUGHT STAY IN HOME! ALREADY LEAVING THEM 1800.00 IN UPGRADED VERTICALS..HAD HOME PAINTED WITH WASHABLE PAINT...HAD WIRELESS ALARM SYSTEM INSTALLED...AND TILED KITCHED..ALL UPGRADES THAT EXCEED THE CASH FOR KEYS!

WANT TO GET OUT NOW...BUT AGAIN-IN AGREEMENT YOU SIGN STATES THAT APPLIANCES AND LIGHT FIXTURES STAY??? I DON'T THINK SO! ANY ADVICE REGARDING THIS CODICIL IN AGREMEMENT! I CLEARLY ADVISED LAW FIRM AND REALTOR THEY CONTRACTED (BANK OWNED..AND I'M ORIG OWNER...PURCHASED BRAND NEW IN 98 WITH NO APPLICANES...NOTHING)

PLEASE ADVISE REGARDING TAKING APPLIANCES I WILL NEED...AND THE LIGHT FIXTURES THAT ARE TIFFANY STYLE THAT I LOVE...AND MY CEILING FANS THAT I NEED AT RENTAL HOME!

THANKS!!!!!!!!

Bad enough I got low balled and only offered the 1500.00 (and see comment from someone...I was injured on the job and had I been ABLE to rec treatment would have been back to work quick. thx to quacks..out of work for 4mo..then another medical issue followed.but simple treatment following MRI was cortisone injections (routinely now)..and naproxen (which enabled me to go back to work in 2 days with some pain..but under ada due to spinal disability..so used to pain!)

Anyway, despite the offer of 1500.00(not 2500.00)..i began prepping for move..11yrs in home, alot of stuff to get rid of that i dont with to pack but are valuable (just don't use). Anyway...in the agreement though law firm that represents onewest/indymac...and evil Realtor (who was nice till i even asked for cash for keys..he tried to avoid asking for it)is codicil that all light fixtures remain and appliances!!!!!!!!!!! Even though they were clearly advised several times that home purchased vacant (brand new). That I had to purchase all appliances. And then purchased expensive fan with tiffany lights...dining room light is tiffany...and matching fan installed in my bedroom.

They still get a number of items to include in ad that will help sell home..that i've kept up very well...appraiser a few yrs ago was very impressed. I would be leaving behind vertical blinds custom made/installed worth 1800.00, i had kitchen tiled (1000.00)..and extra tiles would be left behind (they are replacements in case a tile damaged), aside from regular adt system I paid a nice sum to have wireless remote system installed (with panic button...you can carry with you..keep in car..if you pull in and something is awry..push button and cops on their way!) All selling points! In my devolopement very,very few people paid for Verticals...and they are even upgraded verticals downstaids. All in perfect condition!!

DO THEY HAVE THE RIGHT TO INCLUDE IN AN AGREEMENT TO TAKE MY APPLIANCES WHICH I WILL NEED IN RENTAL..AND MY FANCY LIGHT FIXTURES?? WAS SET TO BE OUT IN LESS THAN THE 21 DAYS GIVEN...AND WHEN ADVISED ALL OF THE ABOVE MINE...AND THAT I HAD DOCUMENTATION TO PROVE THAT THEY STILL INCLUDED IN AMENDED AGREEMENT WHICH IS NOT SIGNED THAT I LEAVE MY APPLIANCES (ALL NAME BRAND..WASHER AND DRYER NAME BRAND AND HIGH END AS THE SIZE THAT CAN HANDLE COMFORTERS ETC)

ANY ADVICE?? DO THEY HAVE RIGHT TO STEAL MY PROPERTY?? AND LEAVING BEHIND VERTICALS...ALARM SYSTEM...AND TILED KITCHEN WITH EXTRA TILES..SELLING POINTS FOR HOME....AND VALUE EXCEEDS 2500.00 (I COULD SELL THE VERTICALS...MOST WOULD FIT IN ANOTHER HOME..BUT WOULD LEAVE)

PLEASE, ANY ADVICE....

ANGRY INDYMACK CUSTOMER (AND I'M ONE THAT ALSO GOT LEAD DOWN MERRY PATH RE; LOAN MODIFICATION...STORY ABOVE COULD HAVE BEEN WRITTEN BY ME!)

It's unfortunate that you are probably not going to be able to save your home, but the good news is that Indymac DOES have a cash for keys program. I am a renter that has just found out that the home we occupy has been sold at auction to the original lienholder, Inymac.

We have been offered the cash for keys from their Realtor. Although we have not yet moved so I can't attest to whether or not they keep to their end of the bargain, we have signed a contract indicating that we will move out by month end (3 weeks from the contract date) for a decent sum of money. Never accept the first offer. You will likely only get this offer if the house is purchased back by the bank and not a third party.

The money ($2500) is not enough to cover the trouble it is for our family to have to relocate but at the same, we are thankful for the assistance and just want to move on from this stressful situation. You have to decide which will be worth your while... a little cash to go quickly and leave the property in good, clean condition...or face eviction following the sale, go to court, beg the judge for a couple more months (you will likely get it) and consider all the money you've saved during that time. Obviously, you will have saved quite a bit by the time you go through the entire process.

I understand that some people are living in their homes for 9 to 12 months total after they stop making mortgage payments!

I guess you can make it work for you if you are the homeowner but for people like us (renters) we get screwed all around! Good luck in whatever you decide!

Are you retarded? Why give renters a break?

Are they your kids for goodness sakes? People have to pay no matter where they live. This woman had to have money in this house and she may recover under different terms. She should collect rent or kick them out.

Foreclosure properties often are taking 2 years to close and in the meantime many things change. Collect the rent from anyone to help u out.

since you no longer pay the mortgage, you should not be collecting rental income, unless you are remitting it to the lender to service your loan, better tell your renters to move out as the bank will foreclose, mere fact that you are in foreclosure means NO change in terms, just in case u haven't heard, the Office of Thrift Supervision has closed the bank and the Feds have taken over, your loan will be assumed by whoever buys the bank from the Fed, you may be able to renegotiate your loan terms with the new owner of the bank, but finding a buyer for the bank might take some time, and your home may be foreclosed before that happens, my advice is to let it go and move on with your life and do';t let your poor renters be out any money they cannot recover, give them a break

Does anyone know how to determine the value of assets of imb? As far as I see they made 200 plus billion in loans more or less..

they are either in the hands of the bank or people are paying the loan still ..

So whatever they get selling these loans/homes at discounted prices should still equal a billion for us non insured depositors.

I believe brokered cd accounts get paid after depositors.

I'm absolutly beside myself. I'm getting ready to retire and told my Financial Advisor to pull all my money out of the Stock Market and put it into CDs!!

He invested it all into Indy Mac!! Is there anything I can do?

up to 100,000 fdic insurance, per bank - that is adding all the different accounts you may have, as a sole owner, or with one beneficiary.

with 2 beneficiaries, your coverage goes up to 200,000.

"Reid in Idaho" is wrong. It is up to

$100,000.00 per institution, not per

account.

You should spread your money around to different banks keeping the aggregate amount in any one under $100,000.00. That way you will have all your $$ insured.

I had over 150 K and got it all out. I have several accounts. Was pleased but saddened at the mess the banking system is in.

Consumer beware -- Like a previous commenter -- accounts are fully insure UPTO $100k per account. If you have more than that in an account you should have multiple accounts. Read the sticker on the door of any bank.

The fact that FDIC coverage for years fully covers accounts up to $100,000 has been well known and publicized for years. If someone put more than that amount in any bank, they were totally foolish, if not ***, to do so.

In most FDIC takeovers of this type, depositors usually end up getting 75-80% of the amounts over $100,000. (Source: Wall Street Journal)

:cry

:x

How much did you have in the accounts?

ATTENTION: Krzysztof Faferek

Krzysztof Faferek, You have been pre-assigned a parcel containing a SONY 61" PROJECTION TV or a bank check for US $2,741.88 made payable to you, or other merchandise item as stated herein.

Please, there is that answer about

When Maryland Bank, Old Court S&L, failed in '81 it took 5 years to get my money back, but no interest. At the promised 11%, it was like losing the money all over again.

They paid in dribs and drabs. This was not the fdic, but a state insurance fund that I learned later was just as corrupt as the bank. The bank owners were buying furs and realestate and cars with our money. A bank is just people who as a corporation, which is an individual, can die at any moment.

Back then, we had no internet to warn us; my first knowledge was from the newspapers, after all the Maryland local residents emptied the bank out by standing on line for hours. Considering the circumstances, I guess I was lucky to get anything back.

And I put my money there for 11% when other banks were paying 10%. It was a few hundred thousand in different accounts.

When Maryland Bank, Old Court S&L, failed in '81 it took 5 years to get my money back, but no interest. At the promised 11%, it was like losing the money all over again.

They paid in dribs and drabs. This was not the fdic, but a state insurance fund that I learned later was just as corrupt as the bank. The bank owners were buying furs and realestate and cars with our money. A bank is just people who as a corporation, which is an individual, can die at any moment.

Back then, we had no internet to warn us; my first knowledge was from the newspapers, after all the Maryland local residents emptied the bank out by standing on line for hours. Considering the circumstances, I guess I was lucky to get anything back.

And I put my money there for 11% when other banks were paying 10%. It was a few hundred thousand in different accounts.

Just because it is fdic insured does not mean you can get it back tomorrow. When the savings and loads failed back in 80s the fdic did not pay back clients for a very long time.

Some were more than two years so don't think that you can just go pull it out. YOU cannot.

I would not worry about it. Since your deposit was under, $100,000, it is fully FDIC insured.

Additionally, you will have access to withdraw your funds, without penality tomorrow.

The bank's website will also be back online tomorrow. Not a bad idea to get your money out of the bank until things settle down.

indymac one west bank should all go to prison they ruin so many familys its a shame and there getting away with it why does any want want to help us ?????the goverment needs to do something why??????

Darn right Indymac was down with mortgage fraud. You see it works like this.

Rogue brokers allied with thugs asked people like me who had good credit to get some big cash up front for using my credit score and to buy big properties trumped up with inflated appraisals. They (rogue broker) asked me to use a stated income on the federal income statement form , perfectly legal at the time.) Indymac loan documents flooded my home. Bastards, were down to give us a loan we couldn't refuse. I was promised big cash just to have these thugs rent the house I would purchase.

Give me some money up front and I would be straight. I didn't feel like being a b_ _ _ _ that day and sent the frauders my actual pay check receipts. The rogue broker was furious. I backed out and the Indymac documents remain in my personal file.

Bastards. I got religon. Burn Indy Burn. Jesus is Lord.

The rogues had my personal info and put a house on my credit any way. I had to contact the credit companies to free myself. I behaved like a *** for getting myself envolved with these idiots. I have learned my lesson.

You learn from my mistake. Fast money is fast trouble.

:grin

Regarding Indymac changing the terms of your loan that they acquired from Berkshire; it is illegal for any mortgage, bank or financial institution that acquires your loan to change the terms of the Note. The Note is a legal binding document and the terms of said Note cannot be changed by anyone.

I suggest reviewing your original Note and double checking to make sure that you weren't in an ARM that has adjusted. If the Note states to be fixed and not set to change, then Indymac has broken the law. Contact the Dept of Real Estate or the Dept of Corporations depending which Berkshire or Indymac is licensed under and lodge a complaint.

Even though Indymac is out of business, they will be managed by FDIC. Your loan will continue...and will more than likely be sold again to another financial institution or servicing company so you should make sure you have the correct terms/payments per your Note.

Just spoke with FDIC agent last night

and was told everything was insured.

Thank God!

I have been in banking for 20+ years, and have worked for an S & L that went "under" in the late 1980s. Yes the Federal Government took us into "receivership", and then we were sold to First Union.

Not one of my customers lost any money. If you have $100,000 in an account soley in your name, and another $100,000 in your name as owner, but listing your wife a beneficiary, then you are FULLY insured. The key is verifying with the bank that your wife is named as beneficiary on one of the accounts. Just because her name does not appear on a bank statement does not mean she is not a beneficiary.

That is determined by the signature card you signed at account opening. Don't listen to the media, as they intentionally panic the public, and don't listen to any other uninformed persons either. You can contact the FDIC directly by calling 1-87*-***-****, or email them by going to www.2.fdic.gov/starsmail. Any FDIC insured bank can give you a brochure stating what I have just told you.

The most recent version of the brochure will be dated 001-2007. In the event that FDIC needs to pay out funds to bank customers I understand it can either be sent electronically to the bank of your choice, or sent to you by check.

Good luck to you. I am sure you will be fine.

Sue

I should have put it in a Joint account with my wife but she wasn't around

when I sent out the paperwork.

I was told by the bank that if I listed

her as ITF I was covered. I also

had viewed the video on FDIC's

website and it showed many ways to have coverage in excess of $100k

through different accounts and naming of accounts. I have a call setup with an FDIC rep on Monday,

I'm in NY so I can't go down there.

I can't sleep thinking about this,

how *** not to setup a joint account. I have requested a wire transfer for one account and am still waiting.

HAVE 2 ACCT. 100THOUSAND N 50THOUSAND INT. FOR DAUGHTER IS IT INSURED SOFOSBAR@***.COM LINDA

If one of your account has your wife as ITF, ( in trust for), or P.O.D , You are covered. My husbands was busy, I put all CDs ( over 100K) under my name but I put his name , 2 of my children as beneficiaries.

Each are covered 100K, Totally the account covered up to 300K , and my single account are covered up to 100K. Before headed to the bank, I called FDIC , they told me that I get 100K first , the rest will be verfified before funding. At the bank, they consolidated all accounts ( 4 accounts) to one of those accounts and I got back every cent (200K+ ) . In your statement, you may see your name only, but in the signature cards or in your CDs , if you have any beneficary in them.

You are covered. Each beneficary is insured for 100K ( totally all accounts) . I hope that it will ease your anxiety , I have the same anxiety over weekend and I was so relief after getting the big check. If we were gamblers, we would put money in stock market- not in secured bank.

I feels so bad for customers who has some uninsured fund ( even one dollar).

They thought they were safe at the bank , it turn If they were not . I hope that everybody gets most of they money back.

That is not true. If you have two accounts in the same name you are not covered.

The bank person was right! If had of taken his wife to the bank and put it in her name then yes they would have been safe.

Your accounts are insured. I`m in a similar situation but with joint accounts with my wife.

If I understand your comments GSTREEV, you set up one account in your name only and another as a "Trust" naming your wife as "Beneficiary" ... The Trust usually means you designated a person (i.e., your wife) as beneficiary P.

O. D. (Payable On your Death). That's what it sounds like you did.

If so, you are covered as they are two separate types of accounts, each separately covered by $100,000 FDIC Insurance. Also, if this is the case...

that's why your wife's name was NOT mentioned on the statement from the bank ... most people don't want the benificiary to know they are named on an account as P.O.D.

If you have two separate accounts they are EACH insured upto $100,000 by the FDIC. Even if you do not have separate accounts, according to Suzie Ormond on TV the other night, you get $100,000 plus one half of any monies over that amount that was deposited.

She was right. Only one account is covered unless you have one in your name one in your wife's name.

Otherwise you just lost half your money! Hope fdic pays fast they usually don't. I am getting ready to hit bank of america who is no better off. I have a large holding there with no insurance.

YOU can bet your butt I am moving money all over the place with no account over 100g. WE have to be smart right now and NO one should take anything for granted right now.

Safe guard your money. 300 banks are set for a major mess in the next two years.

I am a servicing employee at Indymac for now. We will see what happens on Monday.

Is your loan an Indymac originated loan or is it a loan that they service for another financial institution? I think that going forward one of the options the banks will be looking at is to write off part of the balance that you owe since your property won't appraise for what you paid for it. I am not sure how far away this is but hang in there because something has to be coming.

There are many people who are in your situation and there will be some options to come. I hope that it works out for you.

you cant hire an attorney because as a smart investor you should've insured yourself with a beneficiary! everyone knows that.

now it's UP to the Government to see how much you get ... unless your planning to send the government a subpeona you should get an attorney

I had 90.000 in CD and 70.000 on Money Market. I understand I can receive 100K insured, what about the rest.

Can I hire an attorney? Irina

Jenn,

I am right behind you! I am a servicing employee at Indymac and I could not agree more with you.

You are right on the money with your thought process.

I have something to say to those IMB employees who think they are safe "Can Mr. Perry and I sell you some magic beans"?

We work in an employment at will world. Severance packages are a courtesy and not a mandate.

There are no inalienable rights...

Packages can be offered/withdrawn then changed and re-offered. Nothing is cast until acceptance is made

We work in an employment at will world. Severance packages are a courtesy and not a mandate.

There are no inalienable rights...

Packages can be offered/withdrawn then changed and re-offered. Nothing is cast until acceptance is made

Anonymous,

I am not so sure about the situation. How many times do you think the wholesale lending department heard those same words?

Alas they are gone. Also lets consider that our portfolio consists mainly of loans we service for other banks. There are not a substaintial amount of Indymac originated loans for us to service once the serviced portfolio is gone. It is the intent of the FDIC to sell us off as soon as possible to get the money that they need to cover the losses they are having to pay customers whose funds were insured.

Well, they can only sell what is Indymac owned. We only have jobs temporarily. If you were smart you would start looking for a job now because if not you will be in competition with a lot of fellow employees at the same time. I believe nothing that Indymac says.

Just look at what is written in the websites from previous employees. It says it all. If you believe what they are telling you then you probably believed that Mike Perry and his sideshow was honest too. You have about 90 days to find a job so start looking before you end up like some of the other X-Indymac employees.

I am glad to say I have had three calls for interviews already and I will be running for the door as soon as I am hired. Good bye and good riddens to the most corrupt and disorganized place I have ever worked!

jenn,

I too am an employee in the cust serv dept for HLS. When we were briefed on the situation the layoff will not effect us. There are always going to be customers that need help, cust ser is the safest position to be in right now.

I also worked at IndyMac and left over 2 years ago because my boss and I did not see eye to eye on compliance - I wanted to be in compliance - he wanted to go to lunch. A few people actually cared, but Mike liked to make money at all cost and management actively "ignored" the trouble makers.

I feel sorry for the people who are now suffering from greed and laziness - but it ain't like IMB's management didn't know what they were doing. I think Mike should dig into his pockets to help all the "true" employees that stayed.

Hi there,

I've money in cds and money market totalling 97k. My question is, will I be penalized for closing out my cds before they mature?

Does anyone know? I'm just afraid to leave my cds in the new indymac federal bank.

Wow, I'm glad I took the Voluntary Severance in October!! Atleast I walked away with good money and insurance.

I hear you on the way management was handling business, I too was forced to approve loans to people that I would not lend my last $10 to but I wasn't *** and made management put their initials in the notepad and made sure I wrote that I did not have any faith in these loans. *** it! they were pissed that I did this but when something went wrong on these loans they tried to come after me and they couldn't. Sad for everyone else that is there because they said the people that took off weren't true employees and they would take care of the ones who stayed and now look, they all got *** hard in the ***.

BASTARDS!!! I'm sure Mike will be fine with all those years of earning $1Mil for his salary alone not to mention the bonuses.

What is going to happen to the servicing employees still left in Kalamazoo, MI and Austin, TX. I am one of those people and have never been in a situation like this.

According to management there is no severance left for us. I guess we just get sent to the unemployment line?

1. On the FDIC website there is a program that is called EDIE. You can put your account details (including beni's - be sure to click the ITF box) and you'll see that a cd with 4 beni's is insured up to 400,000. Formula: Depositor x beni's x 100,000 = amount insured.

2. On the FDIC video regarding insurance, it says that the "revocable trust" is also often called "ITF" = "in trust for", which is acceptable. Indymac uses ITF on their forms. You are all insured. Don't worry.

I have 2 accounts with almost 200k in each and I'm not worried. 1 single holder with 2 beni's and 1 joint with no bennies. Each are insured up to 200k.

Cashiers check have been going through, other banks may put a hold on them for a few days depending on the amounts but that's because they're large checks. Closing a CD early though you may have to pay a penalty and that penalty cannot be waived by them because it is a mandatory penalty from the government. Be patient with these employees, they're going through a tough time themselves.

I am in the same boat you are in...over $ 100,000 in a CD that matures 7/30/08 and 4 beneficiaries. However, I have been researching the extra insurance with beneficiaries and I thought that the account has to be titled as a "Revocable Trust" for that rule to apply. I am very worried and will be there Monday independent of the zoo.

You should be fine with 4 beneficiaries according to the FDIC handbook. I went to Indy Mac on Thurs.

to close my cd and take the penalty. They assured me everything was fine, and I believed them. My cd matures on 7/28. I have over $100,000 but with 3 beneficiaries I'm assured it's all insured.

I didn't close my account and am sorry I didn't, so now I have to wait and see.

I'm not going there on Monday. It will be a zoo.

As long as you have $100K or less in deposits, 100% of your principle will be returned, but possibly not until your contracted maturity date. If you have more than $100K, it depends on how you structured your accounts (i.e.

joint owners, beneficiaries, etc).You could easily have FDIC insurance coverage exceeding $1Million.

We invest in hundreds of banks across the U.S. If the FDIC took one over, we had no difficulty in getting the principle back, but you need to know that you could lose any earned interest. Once they take over, they can change the interest rate and could return the principle to you earlier than the contracted maturity date. At this time, all insured funds are to be moved to Indymac Federal Bank (the continuing institution).

You will be notified of the change in financial institution and also any changes they make to your CD. Being the government (quasi), they can change the terms, but they don't have to let you pull it out early without the accrued interest penalty.

If your CD is below the FDIC threshold of $100k, you should contact the bank on Monday and confirm what your next step is.

They would be the best to respond to your concern...

They should have recognized the possible failure of this bank before letting them take money in CD's.

It seems like a replay of the 70-80"s again by a certain group .

Am I wrong?

We have CD through Vanguard. They should have avoided the contact to invest here with indybank.

I just renewed a $5000 CD but I have another $5K one that ran up Friday and I have a grace period of 7 days to get the money back or else it gets rolled into another cd but I can't get ahold of anyone at the bank nor can I get to my account on the website!!!

GGGRRRRR

I have been trying to speak with someone regarding my CD, but keeping getting put on hold, then when I finally get to the operator, I'm sent to a busy line which keeps kicking me out.

I have $375,000 in a fixed account at Indy. I set the accounts up under my name, my wife's name and the names of my 2 kids.......four(4) social security numbers.

I was told at the time, (4 years ago), that the money would be FDID insured up to $400,000.00.

I hope now this is in fact true. Any thoughts?

If the collateral is under the 100,000 limit but is internet placed does the alogram be covered FDIC?

Don't worry you're insured under FDIC. Especially, since your balance is far below the 100K threshold.

First thing Monday I advise you to get to your local branch (preferably the branch where you opened your account). Make sure you bring your I.D. so you can find out what your account number is. Expect possible long lines and some confusion but I repeat, YOU ARE COVERED UNDER FDIC.

No worries. :)

I offered a fail price under their listing price and was countered by 50k more than their listing price. Bargaining in good faith, I think not.

Stay far away until the dust settles with this shell game. One other friend had a similar instance with OneWest.

I had no problem with Indy Mac. We are behind and yes the hold money in suspense accounts but that is because we are paying gradually and they have been extremely great about it.

I communicate via email and they have responded most times. They are very courteous to me always and we had fallen quite a bit back. As for safety, the fed opened the window to help them so it is now Indy Mac Federal bank. The employees do the best they can to answer questions.

That's the best they can do. It is better than foreclosing.

Try to stay calm, there are many that are yelling and these people do not make the rules, they follow them. Ask and they will answer.

I can tell you right now that we don't put your funds in suspense if you owe a late fee or any other kind of fee for that matter. The only time funds go into the "suspense account" is when you don't pay the full P&I payment plus any escrow payment you may have.

We can not accept partial payments but as long as you send in what's billed, with fees or without, it will apply as a monthly payment. I'm sure you called customer service and didn't listen to the CSR explain this to you because anyone who works there knows this.

It's angry people like yourself who call us, bi*** and moan, scream into the phone and then don't actually listen to the response we give you. Cry me a river, if you have a question about how your payment is applied just call and ask like a decent human being, don't scream and complain then not listen.

foreclosure doesn't happen after 2 months, it takes 3 to even begin it. you are warned after 2 months yes, but thats not the same thing. so i dont know what you are talking about. i have a loan myself, and whatever name indymac chose to give said suspense account, i can guarantee you most other companies have a similar thing. its not a scam. sometimes it takes some extra investigation to find out what the cause is, but i can guarantee you that if you were to talk, not yell and whine, to them, you may be able to come up with some sort of solution. the suspense account is put in place because sometimes people dont send in enough funds, and most of these systems dont know how to apply a partial payment. it is rare that they are misused, and they exist for a purpose. this purpose is not to *** over.

as far as indymac deserving to go out of business, i understand the anger, but seriously, what about the few thousand people who are freaking out right now about their jobs? mortgage companies are tied to whatever guidelines the investors give them as far as helping and im sorry, but if you dont make enough money to cover your mortgage or bills, what do you want them to do, give you the house for free? whatever man, its not going to happen. . the management can only do so much. why do you think you are so special that any company wants to ruin your life specifically? and yet you think its acceptable to wish bad things on people simply because you dont get the answers you want? how about a little compassion? how about a little willingness to work it out instead of persistent petulant whining all day long. everyone knows you're angry, but instead of yelling, maybe try to approach it a little more creatively. i am certain that if you shut your mouth and open your ears you may learn a little something and maybe even resolve your issue. indymac has value, its employees are phenomenal at least in my experience, and i have yet to have a bad experience with them. but then, i am not a hotheaded.

the world is a scary place, and its important to stop living beyond your means. if that means you cant afford your house, its time to fess up to that fact and move on.

I've had a home lone with IMB since '05. They're in Cali and I'm in FL and I had no idea that people had this kind of problem with them.

My builder recommended them and they gave me a great rate for my lack of credit history. (I was 25 and just married) All I was able to hear about them was positive about how long they've been around and how they are the leader in construction loans. No local banks/ Credit Unions would even talk to my husband and I. I've never had the problem that you post about above, I had one late payment, but they still credited it and just put the late fee charge on the next bill...

I'm stressing about my loan. What will happen. Thank God I don't have an ARM, but if they sell it? WTF happens?

I know there are laws to protect us, but the gov't is so messed up. WHAT DO I DO???

I'm one of the responsible mortgage holders. The only late payment I made was 2 minutes after midnight on the last day to pay.