OneWest / IndyMac Bank Loan Modification

OneWest / IndyMac Bank

OneWest / IndyMac Bank was formed from the ashes of IndyMac Federal Bank. IndyMac Federal Bank was originally IndyMac Bank before it was taken over by the FDIC. The FDIC managed the Bank for a short period of time and then sold all mortgages to various investors leaving many home-owners facing the real possibility of never receiving any assistance with their mortgage payments.

Contact information

OneWest / IndyMac Bank
Tel: (800) 781-7399
Fax: (866)-435-7643
www.OneWest / IndyMacbank.com
 

What you can expect

Acorn has included them in the group know as the 'home wrecker 4' (click on the link and see for yourself; http://ourfinancialsecurity.org/2009/06/acorn-home-defenders-to-confront-%E2%80%9Chome-wrecker-4%E2%80%9D/

Don't expect much if any assistance from them. The modification process is long and in many cases the end result is negative. The problem lies with the fact that there are many investors involved who may own your mortgage. They have the final say in who they wish to assist and who they don't want to assist. In many cases, these investors are not interested in assisting home-owners with their mortgage payments if they are current or even if they are delinquent. They are more interested in liquidations and finding a better home-owner. They will not consider a mortgage modification if your home is a investment property, second home, or are unable to provide detailed income information.

They never provide any transparency regarding any modification guidelines that can help you prepare your modification request. If you are declined for a mortgage modification, they will not provide you with an intelligent and understandable reason. Usually, the response sounds like; "no, and we can't tell you why because the investor as a policy will not allows us to tell you why". If you want to contact the investor directly, good luck because the response is typically; "we can't tell you who the investor is per policy but you can request this information in writing and faxing the request to (269) 353-2432".

Modification request instructions can be found at: http://www.owb.com/singlecontent.aspx?id=1372&linkidentifier=id&itemid=1372

The instructions look very inviting, but don't be fooled. Don't even expect a call within 30 days from OneWest / IndyMac. You need to call them several times per week to ensure that at the very least your request was received.

We give OneWest / IndyMac Bank a poor rating and strongly urge you to seek professional representation in order to ensure that your rights are protected and to afford you the very best chance to obtain a mortgage modification.