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Watch Out-IndyMac- One West Asking for Money To Stop Foreclosure!!

Updated on November 25, 2009

Buyer Beware

Indy Mac Bank- One West did not want to speak with me, when I had a valid reason in August of 2008. All my attempts to deal with this Company fell on deaf ears.

Indy Mac served foreclosure papers February of 2009. I have asked Indy Mac over and over, who the actual Lender is for my mortgage, and they play stupid. I know that they are a servicing agent for someone, and my payments were being sent and split for over 1 year.

I had the pleasure of receiving a call from them today, and I was as stupid as they are. A lady from India first called to warn me that my house will be going into foreclosure. I informed her that she must have been sleeping for over a year.

The second lady requested that I could pay Indy Mac over $12,000 to clear my foreclosure, or I could have a re-instatement. I asked what was a re-instatement and they did not know.

Why would any person with their mental abilities intact, who knows that there house is in foreclosure pay the servicing lender any money, and not even know where the money is going.

In my opinion this is an attempt to collect money, and still foreclose the property. In the State Of Florida the courts have to be certain that the legal holder of the original note is the party foreclosing, and Indy Mac Bank has been dancing around this information for 15 months.

I advised IndyMac Bank to keep foreclosing through the court, since it has been in the court system since February 2009. IndyMac Bank has been increasing the loan amount from the beginning, so the original amount borrowed is not the same amount due.

I suggest that Indy Mac Bank continues to deal with the Court, win the foreclosure and sell the house for what they can get in the market now which is estimated at a small fraction of what is owed. This entire mess could have been easily negotiated with a 30 year fixed rate mortgage offered, but because the lenders, who ever they are are greedy money hungry pieces of trash, they felt that they would make more money with their scamming five year, negative arm loan.

I accept full responsibility for not catching the mistakes in the loan in the first place. I have never dealt with crooked Lenders, as I was in the business 16 years ago. My original loan application does not exist, as it was changed to create a higher income, and the appraisal was inflated.

I have read that the entire market crash and deceptive practices were done on purpose, and after many months of research I have found factual truth to warrant my allegations.

My house is in the hands of the Court. I want the Court to render the decision, and if the house sits empty for one hundred years, that is fine with me. Why would I trust this servicing lender, or believe anything that comes out of their mouth?

Indy Mac Bank does not abide by any rules, even those written in the mortgage note. The Borrower is suppose to be notified if the servicing lender wants to do an inspection. they knew where I am, since I relocated for a temporary position in another county. Indy Mac bank went and broke into the property to winterize a Florida home.

Indy Mac Bank is trying to collect a debt and attempting to pretend that  the money paid to them will stop a foreclosure. I do not believe them or trust them, and never will again.

Good luck in court, you will get what you deserve.

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  • profile image

    Tim 

    6 years ago

    this article is exactly the same experience that i have had. my life was complete after i built my dream home on 20 acres of forest. my downfall was beleiving a plan that a broker sold me on. i had no experience in this stuff and was naive enough to think the law would protect us when it came to mortgages.well....i ended up with indymac bank. downhill and finally rec a modification which was worse than the original but it bought me time. now im waiting forclosure and hired a lawyer who gets the mort payment..indymac sidesteps every request for qwr,s and other info etc etc....im upside down so..imb...im gonna drag every iota of info out into the open through court, im going to post all my paperwork,names addresses and info ive researched in last 3 struggling years ....and continue to sue after u get the home.....thanks for all the sleepless nights, divorce and stress......yours is coming....trust me.

  • profile image

    National Shame 

    7 years ago

    The "new & improved" Indymac (aka One West Bank) starts right where the same crooks using a different name ended. You WOULD NOT believe what they're pulling in the REO Market.

    Unfortunately, its the same poor schmucks purchasing One West Bank REOs that got screwed the first go around through Indymac (before it changed its name to One West).

    It is truly shameful what this company is doing. And ANYONE who enters their ridiculous REO Addendum is either sadly ignorant or woefully misled.

    Shame.

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