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Old 07-15-2008, 03:31 PM
 
1,054 posts, read 2,944,976 times
Reputation: 173

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is shutting down???
That's who we have had our mortgage with for 6 years now.
What will happen?
We are on a 30 yr. fixed rate.
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Old 07-15-2008, 03:36 PM
 
Location: Chino, CA
1,458 posts, read 3,006,164 times
Reputation: 553
Quote:
Originally Posted by AJ1972 View Post
is shutting down???
That's who we have had our mortgage with for 6 years now.
What will happen?
We are on a 30 yr. fixed rate.
According to the FDIC site:

"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."

FDIC: Failed Bank Information - Bank Closing Information for IndyMac Bank, F.S.B., Pasadena, CA

-chuck22b
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Old 07-15-2008, 03:43 PM
 
Location: Papillion
2,589 posts, read 9,682,308 times
Reputation: 898
No changes... just keep paying like you always have... only possible change is where you might send your payment, but that's no different than when your mortgage gets sold to someone... Your debt to them is still a legal obligation, so keep paying...

The only real affect to the normal consumer is on the deposit side, but not on the lending side.
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Old 07-15-2008, 04:07 PM
 
1,054 posts, read 2,944,976 times
Reputation: 173
Phew. Thanks.
I was afraid that they could change our rates and such.
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Old 07-15-2008, 07:47 PM
 
483 posts, read 1,414,848 times
Reputation: 196
I too have a mortgage with IndyMac and was a bit worried when I found out about this only yesterday. It seems everything will come out in the wash... I just hope my mortgage gets sold to a good company!!
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