07-14-2008, 03:27 PM
We got a land loan thru IndyMac in '05. We paid it off, so we're no longer dealing with them. Just out of curiosity, anyone know what will happen with loans held by IndyMac.
btw, I wouldn't say it was a high risk loan; it was 20% down, they did a full appraisal that was accurate, they did documentation, and the interest rate was 9% at a time home loans were quite a bit lower rate. I mean, it wasn't some unrealistic teaser rate. It did have a balloon payment though, because it was a 5 year loan.
btw, I wouldn't say it was a high risk loan; it was 20% down, they did a full appraisal that was accurate, they did documentation, and the interest rate was 9% at a time home loans were quite a bit lower rate. I mean, it wasn't some unrealistic teaser rate. It did have a balloon payment though, because it was a 5 year loan.