Indymac loan modification - does it work

Yes, it does work. After all what choice does the Bank have? continue to accumulate REO at 40% of what they lended on it? and pay $ 30,000 on attorney fees everytime they have to foreclose on a property?

I got a modification done on my Mortgage and used my original mortgage company, I asked them in 2004 for an adjustable mortgage and now they modify it for me at 4.5% fixed for the next 5 yrs, then it goes to 6% for the remaining period. I was behind 3 months and they added that to the back of the loan and eliminated my late fees.  Do it, it does work. ohh In case you want to use them too, the name of the company is Lending Bankers Mortgage LLC in Hollywood florida. I do not have the number handy but they are the only mortgagecompany I know that is serious and actually growing in this market. Good Luck.

Indymac?  10 months and I am still getting excuses to explain the last excuse...

I am working with IndyMac for a client and it appears to be going as expected and as works with other big lenders - takes time and patience.  If you qualify for Making Home Affordable I would suspect you will make it through the process smoothly and if not, expect a very long process.  You don't need an attorney to negotiate on your behalf- the lender will work with you directly and an attorney can't make the lender do anything they wont do directly with you.  Having said that, we have found the average consumer at a disadvantage in working with a lender due to a lack of knowledge of what and how to submit your case, as well as, know what you qualify for.  Hope this helps.  Dave  www.nationalhomeloanadvocates.com