Indymac Bank
This is clearly predatory lending
- 07-08-2008
- 2
Indymac devalued our home while in construction - they said they have been directed to be conservative... And refused to give us the money to finish... We qualified for the money. And the property rates have stayed steady in our area. 7 months later, haggling and haggling and after speaking with Mike Perry they gave us the money... But that's after paying $4000 interest payments... 65K and of course there not enough to finish because we paid so much out to INdymac. Then they offer us 8.75% roll over to fixed mortgage... We cannot afford this mortgage and they know it will drive us into default... So great we finish the house get their high priced loan and we end up defaulting and they end up with our house! SNEAKY... We are trying to finish the house ourselves... We owe lots of workers... That we committed to when we saw our appraisal (it took indymac 3 months go get back to us after the appraisal was done)... This is clearly predatory lending. Anyone out there forming a class action suit please contact me here in these postings.
Company: Indymac Bank
Country: USA
Site: indymacbank.com