Other distressed home Owners

http://www.complaintsboard.com/complaints/indy-mac-bank-c185638.html

http://www.topix.com/forum/business/foreclosures/TM1JHFULMH3B4SDDM

http://www.ripoffreport.com/reports/0/448/ripoff0448327.htm

http://www.planetfeedback.com/indymac+bank/account+management/indymacs+unethical+and+unprofessional+behavior/317579

http://www.loansafe.org/forum/loan-modification/13704-indymac-one-west-no-obama-program.html

http://loanworkout.org/2009/06/now-that-the-fdic-is-gone-are-the-new-owners-of-indymac-abusing-homeowners/

http://www.momsrising.org/blog/help-daniels-mom-keep-her-home/

More Trobled Home Owners

There are several home Owners that are facing the same problems with One West Bank, here is a link to other several posts. http://www.topix.net/forum/source/chicago-tribune/TM1JHFULMH3B4SDDM

The new investors of One West Bank agreed to continue loan modifications, an agreement that apparently they have not complied with.

When the US government sold IndyMac to what is known today as "One West Bank", they agreed to continue the modifications in exchange for the FDIC's loan loss protection. According to CNN "Loan modifications to continue: In order to receive the FDIC's loan loss protection, IMB Management has agreed to continue the streamlined loan modification program FDIC Chairman Sheila Bair put into place. IndyMac also added (CNN), "in an effort to help troubled homeowners who qualify, is adjusting mortgage payments to no more than 38% of a borrower's monthly income by reducing the interest rate or stretching out the length of the loan."

This is apparent by all the inquiries found on the Internet that the new investors that took over the Bank based out of Pasadena, Calif., which is IMB Management Holdings, (led by Steven Mnuchin, who is chair and co-chief executive of Dune Capital Management. Terry Laughlin, who headed Merrill Lynch Bank & Trust, will serve as chief executive of IndyMac) may not be continuing to do any or few modifications which was not the agreement they made.

They received federal funds that in turn come from tax payers to aid our economy and then they do not comply with their agreement, but keep our US dollars. Please aid our economy and contact the US Treasury Department Department ( Treasury 1500 Pennsylvania Avenue, NW Washington, D.C. 20220 General Information: (202) 622-2000 Fax: (202) 622-6415), if you have been a qualified homeowner and rejected by One West Bank (IndyMac) of a modification. Here is a link to find out, if you may be eligible http://makinghomeaffordable.gov/eligibility.html.

"One West Bank" formerly Indymac not modifying Home loans for qualified Home owners who are at risk of foreclosure......

Contact the Treasury Department with your complaint about One West Bank, if you as a home owner have been improperly rejected.

Department of the Treasury 1500 Pennsylvania Avenue, NW Washington, D.C. 20220
General Information: (202) 622-2000 Fax: (202) 622-6415 (Include your name with contact info, Bank name, and loan number, & letter of rejection) http://www.ustreas.gov/contacts.shtml

News reported, "Treasury Department says Freddie Mac will be doing random audits to see if borrowers are being improperly rejected."

We need to unite and inhibit One West Bank from continuing to destroy more families with the finical stress, decreasing health, and creating a worse economy by perpetuating the forecloses.

Here is my devastating story after being a home owner for twelve years. My husband and I have been trying to get our loan modification for the past year with Indy Mac, now One West Bank, but have been denied for the modification two times. The first denial was due to the paperwork being over 60 days old which according to Indy Mac, investors would not approve that; although, it was Indy Mac that lagged on updating the system. The second time, they stated in a letter that all the documentation was not submitted on time; fortunately, I have documentation which proofs to the contrary. One West Bank has been dishonest on the reason's why the denials happened both times and that is unethical behavior on their part.

For the first modification, we were in limbo for seven months. After about 30-40 calls Indy Mac kept stating that it was approved and they were updating the system to reflect the new terms of the loan. In the meantime we were on a temporary reduction plan of about $700 a month less, due to decrease in my income. According to the conversations with Indy Mac, they would state with confidence," do not worry, we are low in staff, so please be patient and the system will be updated. As soon as One West announced their take over, I called the bank inquiring about an update to make sure the offer was not off the table with this take over. When I called the lost prevention personal, they stated that the modification was denied, because it took them too long to update the system and the investor's would not approve old paper work. I reassured them that on my end everything was done on time, it was not my fault they took long on updating the system. Why should I have to pay for their mistake? They stated very clearly that it was not their obligation to modify our loan and it was a benefit that may not happen. The decision was final and the reduction in payments was terminated. I asked what I could do from here. They replied, “If you want to be considered for another modification I would need to start the process all over again. Plus, pay all the back payments of the reduced payments during the 7 months which equaled to about $7340.00. They also said that I could do a short sale. They gave me so may days to come up with the money or we would enter in default. We did not have the $7340.00, so I asked about the worst case scenario that was adding the amount to the back of the loan? They stated that was also a benefit and not their obligation. I had no choice, but to enter into default.

The second modification was submitted two months before our sale date. They made another offer, we accepted it, sent all our forms in, made copies, made sure we had tracking numbers and called them to make sure they received all paperwork. Yes, we got confirmation that everything was in and they were verifying, our income. They extended the processing date to 7/23/2009, so they would have time to verify the information with the IRS. On 6/25/2009 we received a denial notice saying that we did not send all the paperwork required, so we got denied. This was not true, because we kept in contact with many confirmations about our documents scanned and nothing was missing.

This is creating false hope and leading families into foreclosure, because they are expected to pay for the back payments authorized by Indy Mac in the first place. They proceed with foreclosures instead, which was not what they had stated. We have all documents and their statements/letters to proof our declarations.

It has been devastating! Since losing our home was not our goal, I just needed some relief on my payments through a modification, which lead to an unavoidable foreclosure by the shady business of Indy Mac (One West Bank) provided. Bottom line, they want to make more profit, at the expense of our health and loss of our homes. Which in turn damages our economy even more, since we loose about 10% of our home value for every house on the foreclosure list around us?Please make your loan modifications problems with Indy Mac be known and join together, so we can take it to the politicians.

We need to unite and inhibit One West Bank from creating a worse economy by perpetuating the forecloses after their buy out cost us tax payers between $8.5 to $9.4 billion dollars according to CNN http://money.cnn.com/2009/01/02/news/companies/indymac/index.htm. Please contact the Treasury Department with all complaints.