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View Diary: Indymac Bancorp trading halted (mortgage disaster) (59 comments)

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  •  everyone is affected (3+ / 0-)
    Recommended by:
    Creosote, TheFatLadySings, marketgeek

    If he is at or works for a company that does business with Indymac mortgage it's grim, but don't feel singled out - this is going to hit everyone over the next few months as it spreads.

    •  Right now (4+ / 0-)

      "Misery loves company" doesn't make me feel better. :-|  But we'll see what happens when it all shakes down.

    •  I once considered refinancing through (1+ / 0-)
      Recommended by:
      Stranded Wind

      IndyMac to lower my rates, as my credit improved, but did it through Countrywide a couple of years ago (also a toxic company now). I wonder if some of the mortgages held by these companies will fall through the cracks as the companies collapse into dust, and will dissapear into the ether with no way of finding the holder or collector for the bill.

      By the way, Countrywide messing around with my payment history, and accounting to make it look worse, even though my payments had previously been properly credited over the past few months. Each day I get a paper statement or view my account history on line, it changes. Something is rotten in Denmark.

      "Without our playstations, we are a third world nation"-Ani DiFranco

      by NoMoreLies on Tue Jul 08, 2008 at 10:44:52 AM PDT

      [ Parent ]

      •  get free of Countrywide if you can (0+ / 0-)

        Countrywide/BofA is another train wreck and you should get clear if you can get a loan somewhere else.

        I suspect we're going to see a lot of dollar houses as municipalities take over - move right in, so long as you pay the assessed tax. This will come about as disintegrating lenders fail to pay taxes and such. The sad thing is it won't happen for the existing home owners in situ, making an awful mess of things as it comes to pass. We could all get up, pack up, move next door, and tell our mortgage holders to screw off - this is going to be the net effect, but a lot of honest and/or incautious folks will be the ones getting hurt.

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