How to Stop IndyMac Foreclosures

Video Transcript

"You like several million Americans have suddenly not been able to make your mortgage payments and you have fallen behind and in fact you are several months behind at this point and your original mortgage was through the Indymac Federal Bank and you have heard that there is a program that can assist you in stopping foreclosure. Hello I'm Robert Todd and I am here to answer the question how to stop Indymac mortgage foreclosures. Well the fact that you obtained your mortgage through Indymac doesn't really put you in a much better position than most of the other million Americans but there are some programs through the Indymac Federal Bank that entail government assistance that may provide you with some additional assistance. The main thing is you are going to have to pay your mortgage and you can do this through one of several ways. Either pay it directly and if you are in the position of being foreclosed upon you are probably not in that position or contact the specific mortgage lender and try to renegotiate the terms and conditions of your mortgage such as lower the interest rate and extend the term period at which you can pay the mortgage. Failing that you may want to consider alternative financing with an alternative mortgage lender. There is also a number, a toll free number you can call that can provide you with some assistance through the Federal Deposit Insurance Corporation and that number is 1-877-275-3342. I'm Robert Todd and thank you for watching."