I'm Gail Simmons with my husband Hank and our children.
IndyMac Loan Modification
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Contact information for IndyMac Loan Modifications:
IndyMac Mortgage Services (a division of OneWest Bank):http://www.owb.com/PaymentAssist/
What can you expect from IndyMac Mortgage Services for Loan Modification
Acorn has included them in the group know as the ‘home wrecker 4′. See link for details: http://ourfinancialsecurity.org/2009/06/acorn-home-defenders-to-confront-%E2%80%9Chome-wrecker-4%E2%80%9D/
The modification process is long and in many cases the end result is negative.
The problem lies with the fact that there are many investors involved who may own your mortgage. They have the final say in who they wish to assist and who they don’t want to assist.
In many cases, these investors are not interested in assisting homeowners with their mortgage payments if they are current or even if they are delinquent. They are more interested in liquidations and finding a better homeowner.
They will not consider a mortgage modification if your home is a investment property, second home, or are unable to provide detailed income information.
They never provide any transparency regarding any modification guidelines that can help you prepare your modification request. If you are declined for a mortgage modification, they will not provide you with an intelligent and understandable reason.
Usually, the response sounds like; “no, and we can’t tell you why because the investor as a policy will not allows us to tell you why”. If you want to contact the investor directly, good luck because the response is typically; “we can’t tell you who the investor is per policy but you can request this information in writing and faxing the request to (269) 353-2432″.
How To Fight Back:
I recommend you take a look at two of our recommended homeowner tools.
The first tool on our Tools Page provides help from loan modification expert, Mike Rockwood, using his Loan Modification Workbook and weekly online Q&A and training sessions. In fact, one of the five loans he was able to modify was with IndyMac, so he knows what he’s doing.
The second tool is for you, if you really feel your back is against a wall with IndyMac jerking you around. You should review the Stop Foreclosure in a Day workbook, also on the Tools Page. There is a little-known government program you can use to stop the foreclosure process in less than a day, without having to hire an expensive attorney. This tactic should force Indymac to the negotiation table.
I also invite you to bookmark this site for the latest Q&As and news updates on loan modification trends and scam alerts.