Real Questions from a distressed homeowner:
Ihave a loan with indy mac, , i also have a second with citi mortg.
Called indy mac in nov, sent paper work to me , it been over a month , i have called and usually on hold for a hour to hour and half. All i want to know if they recieved all my paper work.
Citi morg the same way they never return your calls. I am in such turmoil do not know what to do.
I found a web site for loan mod and i filled out form and they have come out of the wood work. Do i got to an attorney , should i go into default. It seems like everyone i talk to is so disappointed that we are not behind on our payments.
I just need help, it is a big hardship every month, i just wish someone could direct me to someone or someplace to get some real honest answers.
Do i go to a real estate attorney or to a bankruptcy att, any guidance you can give me would be greatly, greatly appreciated.
Saturday, January 3, 2009
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ReplyDeleteWere you able to get your loan modified with Indymac.
ReplyDeleteWere you able to get your loan modified.
ReplyDeleteMarypat did in fact get both loans modified. She was granted a very low rate by Citi almost immediately after she contacted me.
ReplyDeleteIndymac on the other hand continued to run her around for almost a month before someone at FDIC helped her get the program I told her she would qualify for _ a partial claim...
Next...
I have been waiting almost 6 months for Indymac to modify my loan. Can anyone help??
ReplyDeleteHi Lisa,
ReplyDeleteTry these guys, they bought IndyMac for a cool 13.9 million and renamed it as One West Bank. If you can get a letter to them they will put someone on it ASAP.
Steven Mnuchin Co-Chief Executive Officer
Dan Neidich is Co-Chief Executive Officer
Dune Capital Management
623 Fifth Avenue, 30th Floor
New York, NY 10022
Tel: 212-301-8400
Fax: 646-885-2468
If you need more help you can e-mail me at Dan@HomeRetentionGroup.com
Thank you so much!!
ReplyDeleteMy Loan mod is in the works for 6 months here also I have gotten the run around. Now they say 8/25 will be the decision day. I paid 5122 dollars in back mortgage to catch up, but they wanted me to pay :
ReplyDeletePresent Mtg $1626.80
Owe : $208,000.00
Plan::::::::::::
2 Payments upfront to Indy
1800 dollars every month until January 2010
4800 dollar ballon payment due January 30, 2010
Then continue paying $1626.80 (my normal payment)
AND this would help my HOW??????????????????????
Pam
Hello:
ReplyDeleteMy name is Rosenet. We have been working with IndyMac/Onewest trying to secure a modification since 2/2009. We have since gotten a default letter and was told that our home is schedule for auction 9/25/09. We've paid the payment reduction while waiting on our
final modification papers. We have been calling every other day trying to get information only to get the run around. Once we were told an offer was mailed and we should get it no later then 9/23. We where told that the sale is on hold pending the final acceptance of the modification papers auction date is 9/25. We have been reading all of these stories of homeowner losing their homes from Indymac/Onewest. We have complied with everything they have ask and feel like sitting ducks. We believe that they are waiting until 9/22/09 before they will deny us and will sale our home. Do you have and suggestions? Show we get a lawyer at this point? Much time has been wasted and in just 2 1/2 weeks our home will be offered at auction for the highest bidder.
You can both try to contact this person:
ReplyDeleteClaudia Mann
(512) 250-3728
Claudia is Indymacs supervisor in charge of client relations with regards to loss mitigation issues.
She has the ability to act on your behalf to get action.
Rosenet,
With regards to the foreclosure sale date you should be able to get the name of the firm handling the sale, or the trustee who can verify whether your home is actually scheduled for sale, on hold, on moretorium or anything else.
If you can't satisfy yourself 1st thing today that your home will not be sold there are options, YES an Attorney would be the next thing you should do. Bankruptcy filing would halt any sale of the home and delay it for quite a while so that oNE wEST HAS THE TIME TO FINISH THEIR WORK.
My experience is that they will postpone the sale date for as long as they need to so that they can process your file.
BUT - YOU need to begin making a stink, don't take no for an answer and get supervisors on the phone, not young kids who have never owned a home in their lives, answer phones for minimum wage, and care more about which friends they're hanging out with tonight than whether or not your family loses its home.
Hi Marypat,
ReplyDeleteIndymac under the FDIC supervision of Sheila Bair has been very co-operative with loan modifications.
Citi’s Office Of Homeownership preservation is laso extremely co-operative in helping homeowners stay in their homes.
Without knowing your particulars it is hard to know whether or not you would qualify for modification.
However, you absolutely DO NOT have to be behind on payments to seek help if you have a hardship.
Gather all of your financial information and put together a financial statement that lays out EVERY monthly expense, along with all of your net income.
Depending on what your net monthly surplus or shortfall is you may or may not be able to qualify for assistance.
With this inforamtion at the ready, along with 1 months most recent paystubs, 2 months bank statements, 2 years tax returns and a hardship explanation letter you can make application.
I have provided some contact info that I hope will help below:
INDYMAC CONTACTS
FDIC - Media Contact
Andrew Gray
(202) 898-7192,
Cell: 202-494-1049
angray@fdic.gov
Ms. Sheila Bair
FDIC
550 17th Street, NW
Room 6028
Washington, DC 20429
Phone: (202) 942-3500
Fax: (202) 942-3040
Claudia Mann
Loan Modification Negotiator
Loss Mitigation
IndyMac Federal Bank
Phone: (512) 250-3728
Claudia.Mann@owb.com
CITI CONTACTS
Citibank
Office Of Homeownership Preservation
mortgagehelp@citi.com
Tel: (866) 915-9417
I also recommend sending an email outlining your communication difficulties and situation to ALL of these folks simultaneously at Citi…
bill.beckmann@citi.com
sharon.green@citi.com
hala.farid@citi.com
Vikram.pandit@citi.com
Mwarner@citirl.com
dgutierrez@citirl.com
asotelo@citirl.com
nmassarelli@citirl.com
KRader@citirl.com
rgeorge@citirl.com
Please check back if you have any questions, and please let us know how you make out.
Dan Harris
We fell behind when my little boy was going through cancer treatment. We tried to catch up, and Indymac suggested a mod.
ReplyDeleteWe were told to make lump sum, then pay for 3 months. We did. This was in January 2008.
Things dragged on, as they were always "backlogged"...but we kept paying as directed.
When FDIC took over, we were put on a new "3 month plan" and paid for 10 months before being denied.
Onewest denied our mod. I was told they werent doing them anymore!!
I hired an atty. He gave me my money back after 2 months, saying he felt bad for me, as Onewest would not budge, and wanted my home. He was told that since we had equity (arguably) that they would not modify.
I have contact my US Senators, who sent letters of inquiry to the OTS. I have contacted OTS, FDIC and HUD myself. Been working with a HUD counselor for 6 months.
Everyone says we have been wronged, but all say they cant force Onewest to modify.
My interactions with Onewest have been filled with lies, and no willingness to truly help.
They say the 18 months of payments didnt count as actualy mortgage payments, so I am now over 18 months behind....and on top of that they have added fees, and my interest is multiplying quicker than I can blink.
This is HORRIFIC! Our family is under incredible stress. They offered to help us when our son was suffering from cancer, and instead they have just made things WORSE and put us in an impossible situation.
How do I sue them?
I have a media contact at the NY Times who may be interested in your story and be able to help.
ReplyDeletePlease email me your contact info to titledan@gmail.com
Hi Cash, my husband and I have been trying to modify our loan with Indymac since June2009. Now when my husband calls they tell him the file has moved from step one which is "escrow" to the next phase!! do you have any idea if this is a good sign?
ReplyDeleteHi Farah,
ReplyDeleteYour file is now nearing 7 months in process and you are obviously getting the "Indymac Runaround".
It is time to Stop Being Patient and Start Complaining and applying Pressure.
You can use the contacts I have provided above and there are other places where you can file complaints regarding the way Indymac is servicing your loan with regrds to HAMP and the FDIC programs.
I operate a forum where you can join for free and post specifics. If you join and post there I will guide you through the complaint process step by step along with providing the necessary forms.
The format here does not give me the ability to attach forms, letters, spreadsheets etc.
My free forum is at http://www.LoanModMan.com
The often overlooked tool in the modification process is the loan audit. This is a method whereby auditors review the entire loan, from original application to final funding, checking for potential errors. Errors made by banks often translate into more leverage for homeowners in negotiations.
ReplyDeleteIt's true the Forensic Loan Audit is a key tool in making sure you get a fair shake from your lender. I have done hundreds of audits and in many cases have uncovered violations. In some cases the violations have been serious enough to rescind the loan.
ReplyDeleteMany will tell you that rescission allows you to wipe out your loan. That is NOT the case, rescission allows you to litigate and bring your lender to the table in a manner that gives you the upper hand.
Forensic Audits
Regards,
Dan Harris