Do you have an Indymac Bank Mortgage?

If you have an Indymac Bank Loan you may be a perfect candidate for home loan modifications? Read article below why the government is pushing lenders to do loan modifications.

If you like to see if you qualify for loan modifications, visit our website www.CarlosSamaniego.com and you can watch a video on the loan modification how it can help you or call our 24 hour recorded message 1-800-257-1883 ext 200, "What is a Loan Modification"

Carlos Samaniego, CMPS
Loan Modification Specialist &
Certified Mortgage Planning Specialist
Office (909)512-6418

      
 
 
 
    FDIC Will Modify Mortgages for Some IndyMac Borrowers (Update2)
   

By Alison Vekshin

 
      
 
   
 
                     

                                    
      

     Aug. 20 (Bloomberg) — The Federal Deposit Insurance Corp.
may lower mortgage interest rates for delinquent IndyMac Federal
Bank FSB borrowers after suspending foreclosures on $15 billion
in loans it’s managing as successor to the failed lender.    

      

The FDIC, which is running IndyMac while seeking a buyer,
may also extend repayment terms or base payments on reduced
principal to help borrowers, FDIC Chairman Sheila Bair said
today in a conference call with reporters. The program might
serve as a “catalyst to promote more loan modifications for
troubled borrowers throughout the country,” Bair said.    

      

“We hope to keep tens of thousands of troubled borrowers
in their homes and avoid the negative consequences that
foreclosures can have on the broader economy,” she said.    

      

Bair has led regulators in pressing mortgage-servicing
companies to modify loans amid rising foreclosures in the worst
housing slump since the 1930s. IndyMac Federal has about 740,000
mortgages that it owns or services for other companies, the FDIC
said.    

      

The FDIC, a Washington-based agency that insures deposits
at U.S. banks, took over Pasadena, California-based IndyMac
Bancorp Inc.
on July 11, making it the third-largest federally
insured bank to be seized by federal regulators. Bair said July
14 the agency would halt foreclosures to weigh modifications.    

      

`Maximize the Value’    

      

The program announced today “will maximize the value of
these loans, ultimately returning more money to uninsured
depositors and creditors, along with investors in the servicing
portfolio,” Bair said. The world’s largest banks and investment
firms have reported $503.8 billion in writedowns and credit
losses on securities tied to mortgages since the start of 2007.    

      

The modifications will aim to make monthly payments more
affordable by cutting homeowners’ debt to no more than 38
percent of income. IndyMac will send modification proposals to
about 4,000 borrowers this week, according to the FDIC. About
25,000 homeowners will get offers over the next several weeks.    

      

Borrowers will be eligible for the program if they have a
first mortgage serviced by IndyMac and are “seriously
delinquent” or in default, the FDIC said. The program is aimed
at borrowers with Alt-A mortgages, which don’t require borrowers
to provide proof of income. Borrowers will have to provide
documents verifying their incomes to have their loans modified.    

      

If the plan works, it will help the FDIC sell the bank by
reducing foreclosures, said Jim Carr, chief operating officer at
the National Community Reinvestment Coalition in Washington.    

      

The FDIC plan appears to go further than industry-led
efforts, which “weren’t substantial enough” to stem
foreclosures, Carr said    

      

“I don’t see much of an impact because a lot of this is
what the industry is doing,” said Jay Brinkmann, financial
economist at the Washington-based Mortgage Bankers Association.    

      

Delaying Foreclosures    

      

Bair’s efforts may lower the value of mortgage-bond
holdings by delaying foreclosures until home prices are lower,
said Julian Mann, a mortgage- and asset-backed bond manager at
First Pacific Advisors LLC in Los Angeles, which oversees $11
billion.    

      

“It hurts the bondholders that are off any shelf of any
bank that is perceived as weak and potentially seizure bait,
because the collateral is now in question,” Mann said.    

      

U.S. bank repossessions in July almost tripled from a year
earlier as foreclosure filings increased 55 percent, RealtyTrac
Inc. said in an Aug. 14 report.    

      

To contact the reporter on this story:
Alison Vekshin in Washington at
avekshin@bloomberg.net.    

      
       

Last Updated: August 20, 2008  17:19 EDT

Carlos Speak’s with Congressman Lewis at Foreclosure Workshop

Carlossamaniego_with_congressman_leYes, that is right, I finally got to spend a few minutes with Congressman, Jerry Lewis and explain to him how he needs to push lenders to continue doing loan modifications to help homeowners prevent foreclosure and help families stay in there home.

He agreed, and said that he will do his best to help his constituents in the Inland Empire. There where over 600+ plus people attending workshop the "Foreclosure Prevention Workshop". It was standing room only.

Foreclosurepreventionworkshop_2

I got to visit very briefly with former Mayor and now Assistant Hud-Secretary, Susan Peppler. She looked great and I told her we missed here in Redlands.

If you are currently behind in your mortgage or know you have a mortgage payment that you will not be able to afford in near future.

Please call our offices at (909)512-6418and ask to see if you qualify for a mortgage loan modification. We are having a 96% success rate. Don’t wait until it’s to late.

Your friend,
Carlos Samaniego, CMPS
American Mortgage ModicificationsAudienceforclosureworkshop

P.S. you can visit www.CarlosSamaniego.com to get access to video
that explains the loan modification program, remember there is no credit qualifying or property qualifing.

Can’t Afford Your Mortgage? Modify Your Loan?

Most American’s want their homes; they just need an adjustment in their mortgage allowing them to keep their homes and help getting back on their feet.

BushThey need an adjustment that is in line with their current finances.

Recently the federal government annoucemnt by President Bush regarding the freezing of interest rates and  payment reduction for homeowners in distress added much confusion and many Americans simply do not know how to take advantage of the program.

Many are getting behind on their mortgage payments and even facing the possible loss of their home. We have helped thousands of borrowers in this situation!

If you are struggling, or know somone who is struggling and want’s to keep their home, or has a loan that they know they will not be able to afford please have them go to www.CarlosSamaniego.com to get more details.

I recently partnered up with American Mortgage Modification to help these homeowners we are having a 96% success rate!

Don’t wait, time is not on your side and the clock is ticking!

If you like to talk immediately, please call our offices at          (909)512-6418      

Your friend,
Carlos Samaniego, CMPS
Certified Mortgage Planning Specialist
American Mortgage Modifications
www.CarlosSamaniego.com

P.S. If you are a real estate agent or a loan officers and need to help your clients please feel free to call our offices, I be happy to help you help your clients.

ASD seized by Secret Service!

Over the last few months I had been getting quite a few calls about a company Auto Surf Daily. A few of my clients have been looking for a part-time home business, due to current economy they where looking for anything.

I told them I look into for them and told them after what I had saw to be very careful, and if it was my family, I stayed away.

Well this morning it was raided by secret service!

You can read the article at link below
News Article

I am saddend to see my friends that where affected by this company and the money they lost, but more importantly there faith in starting a part-time home business.

Before getting started in any  home business, due your due deligence, due research , visit sites like www.mlmwatchdog.com which is run by my friend, Rod Cook.

He told his readers about this company months ago.

Call your local better business bureau.

Call me at 909-512-6418, I would be happy to help.

And bottom line, if is sounds to good to be true, it probably is!

Your friend,
Carlos Samaniego, CMPS

P.S. visit Rod’s site to learn more about this company!

MLMWatchDog late edition rush news!