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impalashark User is Offline

Posts:31

07/11/2008 4:10 PM	Alert
Indymac bank has gone down; federal regulators (FDIC) have taken over. I believe if your deposits are < $100K, you're safe.

stephanie7693 User is Offline

Posts:59

07/11/2008 8:10 PM	Alert
Where did you hear this? What happens if you have a mortgage through them?

LeonPotter User is Offline

Posts:653

07/11/2008 9:27 PM	Alert
Posted By stephanie7693 on 07/11/2008 8:10 PM Where did you hear this? What happens if you have a mortgage through them? http://www.cnbc.com/id/25642869 If you have your mortgage thru them, continue as usual. Eventually, another bank/lender will buy it and take over.

My answer WAS "NO" to Q#5 and Q#1. Proverbs 22:7 The rich ruleth over the poor and the borrower is servant to the lender.

caveman

Posts:1276

07/12/2008 9:34 AM	Alert
Posted By stephanie7693 on 07/11/2008 8:10 PM Where did you hear this? What happens if you have a mortgage through them? You are free!!! This is like the end of the movie Fight Club where they blow up all the credit card companies.

impalashark User is Offline

Posts:31

07/12/2008 1:51 PM	Alert
Hahaha, Caveman, you are one optimistic person !! You'd be free only if the entire financial system collapsed. And if that happened, your home would be worth nothing at all If there's any value in a company (and there is, because your mortgages can be transferred to a different company) someone else would buy that company (maybe on a discount). So they don't ever let you off hook The tax docs are sent by both companies - indymac for jan-july and aug-dec by the company that will buy your mortgage from indymac.

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