Complain about a product or service

Indymac

Jeff of Henderson, NV August 26, 2009

First I over paid my mortgage by 500 every month for a year to help bring the payments down which obviously didnt do anything once the economy started to go to hell my income did as well which dropped 45% . I called to do a loan mod -- they sent me the paperwork which I sent in multiple times after I defaulted . I get a letter in the mail saying it was in auction for sale . I called bitched they said nothing they could do now unless I paid 18,000 to 20,000 up front to fix my loan . I don't have that kind of money . My luck is living in Vegas where there is 45,000 other homes on the market right now all I can do if pray it won't auction off for a very long time so I can save enough money to get the hell out and get a decent rental . WHAT WAS IT THE PRESIDENT DID TO HELP US . Indymac was no help at all . NONE

gene of pasadena, CA August 20, 2009

My brother got his mortgage modification with Indy Bank. He was making payments and a friend told him "I saw in the paper that your home is up for auction". He calls the bank and they tell him that he owes them so much money. He says "the mortgage was modified and I've been making the payments". The person he talked to says I'm sorry my records don't show a modification. He answers, "I'm looking at the signed agreement right now". The next day the house is pulled from the auction. He calls to try and find out what's going on. He is told, yes, they show that he has been making the payments but they're not being posted against the loan, "They are in suspension". He asks why they are in suspension and the person he is asking says they don't know another section makes that decision. He asks who he can talk to from that section and they tell him they don't know and they don't have any phone numbers.

A few weeks later the house is again listed as being auctioned. He can't get any information from the bank and goes to the auction. The bank has a minimum bid on the house and no one bids the minimum. He asks the lady conduction the auction what happens now. She tells him she doesn't know, just "wait until you hear from the bank."

Three weeks later he gets a notice that he has 10 days to move. When he contacts the bank they tell him that if no one meets the minimum bid the bank then has the authority to buy the house at the minimum bid. They now own the house and he must move.

Question 1: What happened to the adjusted mortgage and the payment money. The house was forclosed Question 2. Who gave the bank the authority to buy the property at the minimum bid? Question 3. So the bank buys the property for the minimum bid which is below the assessed value of the property and the government pays the difference to the bank because the bank has gotten rid of a "toxic asset"? Question 4. Has the bank made a legitimate mistake or is there a scam taking place here?

Bessie of Suitland, MD August 11, 2009

Just like all the rest who has dealt with or deal with Indymac now One West Bank I am experiencing the same unethical treatment. It is unbelievable that the company has a A+ rating given the negative reviews I have read and unfair practice that are being implemented. Since April, I have been attempting to go through a loan modification. I have been misguided one representative told me that the company is not trying to help people modify their loans unless they are on the verge of foreclosure and that was the only way they would modify my loan, which doesn't make any sense because per HMP program, the plan is to help those that are NOT on the verge of foreclosure and are up to date on the mortgage payments but have suffered due to the decline in market value.

Another representative advised me of the load modification process and required evidence to provide, which I have submitted not only once, not twice, but three times over and been doing everything possible on my part to practice due diligence. Indy Mac has claimed to have never received anything, paperwork was insufficient, or simply put did not know what happen to the paperwork.

I have reached out to Indy Mac on a number of occasions and now on a bi-weekly basis only to hear to same lame explanation that my application has been received and currently under review and I should expect to hear something within 30-45 days. I have received notifications in the mail almost weekly rehashing the same statement. Ever since I started the process I have received nothing but vague and unclear answers, and at worst, pure deception and fabrication of information.

It's been over 5 months into the process and I have yet to hear from anyone regarding my application and still as I contact IMB (now One West) and they are still feeding me lies and tell me that my case is still in process. I have complained to higher authorities and supervisors but yielded the same responses, and it seems that I am just being given the runaround with no end in sight. We are extremely disgusted with this company, and looking to pursue legal action against them. Because of the company's lack of assistance and unwillingness to help is putting me at risk to losing everything, my hopes, my dreams, my career, everything.

Sandra of Atlanta, GA August 7, 2009

Every month I make payments, the bank only applies part of the money. I have asked for the past 4 months for an accounting of how the payments are being applied. No answer to date. They keep increasing my monthly payments and when i ask for information, they give me no answer. Just now, the representative hung up on me while pretending to figure out what happened to the money.

SISHA of CEDAR HILL, TX August 6, 2009

Is there anything that can be done about IndyMac? My mother has a mortgage with them; for over 6 months she's been trying to get a loan modification. For six months it's been nothing but a constant run-around. She sends the required paperwork and they ask for more. She's self-employed and the money she earns goes directly into her bank account. However, IndyMac keeps requesting "check-stubs". She's sent them so many bank statements...how much proof do they need? At one point she was told an "investor" was reviewing her modification...never heard anything form that again. After reading all the complaints on this site, she is ready to do a short-sale. There is no sense to try to work with them; any government help will probably be much later and she can't wait.

Laurie of Bensenville, IL August 5, 2009

We rean in financial difficulty last year when my husband lost his job. We were never late with the mortgage before. Indy Mac told us that they couldn't help us until we were 90 days late...that just started the ball rolling !! We agreed to the modification...made the three unbelievably high mod payment (3 months in a row), and received notice that they filed bankruptcy...Needless to say, but our mod never went through.

Called and filled out 5 modification requests. Can you believe that they take all of this money...The last time in March 2009,they cashed our check, it cleared 10 days later, and then 16 days later we received notice that it has been denied again because we didn't get it to them on time!!??? I have a FedEx receipt showing when they signed for it (it was mailed in the mailer that they sent, but we paid for!)and it DID get there before the due date.

I keep calling, talking to different people, tried to make payments per our modification, and they won't accept them. Spoke with Margaret for 2 1/2 hours on July 8th who confirmed that they did rec. it on time, but her supervisor said that there was "nothing he could do !!!" They are at the Michigan call center. He said to send in a new modification request, and Margaret kept appologizing to me. We received a foreclosure summons on July 22nd. WHAT ???? I don't get this. We have 2 mortgages with Indy Mac. Why did the agree to the modification for the second last March, but not the first? We have a daughter with disabilities..I told them this to begin with, and with my husband making less, we can't pay the 2600 that they want as a repayment plan.

Today, August 4,2009, I got a call from Indy Mac (Matt- foreclosure department) who told me that we should just sign the house over to them. We have been paying the second mortagage with problems. Why would they think that we would just sign over our house. We have done everything that they requested, and we just can afford to higher an attorney. Everyone wants a 3,000.00 retainer. We spoke to an attorney today who told us to file a response to the foreclosure (which makes no sense to us. It states that Deuschmark is sueing My husband , myself, and INDYMAC) What ??? Doesn't Indy Mac hold our loan? Can someone please help us? My husband was in intensive care when we did that lst mod. application (cost to get a notary to the hospital..he's fine now)so we have no extra money. Why can't anyone stop this company? The FDIC said that they couldn't help us. They are not working with IndyMac anymore.

A. of MIAMI, FL August 3, 2009

After filling out a loan modification and sending the agreed amount, the bank asked for additional information. I faxed the information required then got a letter in the mail saying that the loan modification was not approved because the additional information was not received. When I called they said they never got it and that they will keep the money we sent with the loan modification package. Do it again they said. Banks are doing whatever they please...

Karen of Steens, MS July 29, 2009

Several years ago my husband purchased our home from an estate. They handled all of the paperwork and it was to be a rent to own arrangement. After we married, we decided to refinance and use some of the equity to do some home improvement. We contacted Indy Mac Bank, now One West Bank, to use as our mortgage company. Indy mac did a title search and found 22 liens against the property. The brothers from the estate hired an attorney to clear these liens and our loan was set to close on August 25, 2004. We had an appointment to meet at the Century 21 office here in Columbus, MS on that day but, the lady who was to close the loan had left for the day and the brothers in the estate didn't want to reschedule the appointment and miss any more work. The secretary knew that I worked at a finance company and suggested I close the loan, which I did. She even joked and said I should get paid for closing the loan instead of the notary since she wasn't there.

In February 2005, we were contacted by Rioula T, with Indy Mac, and she said that we could refinance, at a lower rate, because of our good payment history. We agreed and told her to go ahead and get it worked up. We didn't hear anything else from her for awhile, so we called and she kept putting us off. She finally said that Indy Mac couldn't refinance because when doing the title search for the new loan, they found 11 liens against the property. We asked her for the name of the title company so we could find out about these liens, and she refused to give it to us.

Over the past several years, we've tried to get that information and we've been given names of several title companies and all had gone out of business. In March of this year, we received a statement from Indy Mac that said we had a 609.04 tax refund due to us because my husband is now disabled. We requested that the money be sent to us and they refused. They said the money was going to be applied to our account because we were past due. We were also notified that our flood insurance and homeowner's insurance had to match, and they didn't. Our policy was to be renewed in July, so my husband went to our insurance office, in June, and lowered our homeowner's insurance to match the flood insurance. We had to file chapter 13 bankruptcy in April 2009, due to medical bills because my husband was diagnosed with cancer.

I called Indy Mac, as directed by our attorney, and notified them. They wouldn't take the information on our attorney so we sent them a certified letter, as did our attorney. When we had our hearing in June, our attorney informed us that he'd still not heard anything from Indy Mac. I've called Indy mac and asked them for a new payment amount reflecting our lower insurance rate and no taxes. They said we have to pay a 200 + amount for the gap in flood insurance which isn't true because we changed the amount before it was up for renewal. I asked for the 609.04 tax refund to be returned to us since this money is in an escrow account and not to be used for anything other than escrow items and they refused. I asked for someone to please look over our loan papers to make sure they are correct, since I was the one who closed the loan. I also asked for a new title search to be done to make sure there are no liens against our property as they stated in May 2005. I don't think these are unreasonable requests, but they don't seem interested in getting this matter settled. Our payments should be lower since there are no more taxes paid on our property and our insurance premiums are lower.

Nik of Plainfield, IL July 28, 2009

I don't even know where to begin. I've received nothing but dishonestly, lies and extortion from their loan modification/foreclosure dept. I don't know what else to say. I will loose my houseand I'm at a loss. They won't help me in any way. My stress level and increased, which is NOT good for my medical condition (MS)

Andrea of Lewisville, TX July 14, 2009

On several occasions I have contacted IndyMac Bank’s loan modification department requesting a review of my file in addition to a modification of my current home loans. We have two (2) mortgage loan payments with them, not just one and our property tax and insurance is paid outside of the two (2) mortgage payments. As a Loan Officer I have been unable to close any loans in the pass year, therefore unable to bring in much of an income to help with the bills.

I have also been trying endlessly to no avail to refinance these two loans with IndyMac or with any lender for the last eight months or more. We needed Indy Mac Bank to modify my loans and give me a fix rate so that we could continue to pay them on time. One thing that disappoints me as a loyal customer is that Indy Mac Bank has raised the interest rate on my loan from the original rate that we had been paying on time for the last three plus years. We are no longer able to pay on time with an adjustable rate loan. They have increased the interest rate

As a Loan Officer in the mortgage industry feeling the effect of the economy I am currently working temp assignments, but they have hardly had any assignments for me lately. In addition to that we have a 10 month old baby girl that we will put first. Our mortgage interest rate has increased making it difficult to plan and budget in this current economy. We feel that this current practice by Indy Mac is putting us in a position to fail, and we will have a difficult time continuing to pay a mortgage under increasing interest rates with only my husband’s income.

IndyMac Bank sent us information to modify my loans using my husband’s income who is not on the loan. The 1st time they denied us after we sent everything they asked for along with a check that we did not get back. Then they sent another modification packet and again we sent everything they asked for along with a check. Once more we were denied. Now we are receiving foreclosure letters.

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