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IndyMac Federal Bank

When the FDIC is away, the new Indymac owners will play

by Moe Bedard

I wrote about this last month and it seems to be picking up steam in the media. Which is great for Indymac borrowers because a loan modification spot light needs to be shined on these new creeps who bought Indymac on the cheap from the FDIC after the bank failed in early 2008.
Here’s an excerpt [...]

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California Faith Groups Fight Banks on Foreclosures

by Moe Bedard

For almost a year, Luis Flores has been lobbying mortgage lender IndyMac Federal Bank FSB to cut his house payments. They have doubled since he refinanced his home loan in 2005 and he can’t afford them, Flores says.

“Every time I call them they say they can’t help,” said Flores, 31, a graphic designer and bartender [...]

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Loan Modification Program for Distressed Indymac Mortgage Loans

by Moe Bedard

From the FDIC: IndyMac Federal Bank, FSB (“Indymac Federal”) will implement a new program to systematically modify troubled mortgages.

The program is designed to achieve affordable and sustainable mortgage payments for borrowers and increase the value of distressed mortgages by rehabilitating them into performing loans. This in turn will maximize value for the FDIC, as well [...]

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