Comments on: Understanding Adjustable Rate Mortgage Loan Documents

By: Jacqueline

Jacqueline — Thu, 03 Jan 2008 23:11:22 +0000

I found your entries above. Check out doc: http://www.sec.gov/Archives/edgar/data/773468/000095013407019689/v33609exv99w1.htm
We have a construction loan with Indy…and because their policy is to “cut back on construction loans” if you have cost overruns you are out of luck. They will leave you dead in the water and you will have to find another lender…in the meantime you are paying Indy their interest fees that come out of your construction loan. Stay away from Indymac.

By: 5 things to do right now your adjustable rate mortgage is going to adjust soon

5 things to do right now your adjustable rate mortgage is going to adjust soon — Wed, 03 Oct 2007 16:34:03 +0000

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By: mortgage-loan » Blog Archive » ACCREDITED MORTGAGE LOAN REIT TRUST (form 8-K)

Thu, 23 Aug 2007 18:55:24 +0000

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By: Morgan Brown

Morgan Brown — Tue, 21 Aug 2007 17:42:31 +0000

Jimbo – thanks for the compliment – i really appreciate it! I’m glad you like what we’re doing here.

By: Jimbo

Jimbo — Fri, 17 Aug 2007 06:03:28 +0000

Thanks Morgan. Great Blog, first one I read each day.

By: Morgan Brown

Morgan Brown — Fri, 17 Aug 2007 05:08:46 +0000

Hi Jimbo,

I am not an expert on construction loans; however I would think that a construction loan that is already written as construction to permanent is already booked by IndyMac and guaranteed by your note. I would have to defer to a construction loan specialist however.

Sorry I can’t be more of a help but I think that as long as the loan is already written and it is a construction to permanent then you are already grandfathered in under the previous guidelines and the loan should be honored.

One thing that your friend can do is call the servicing department and inquire about the security of the loan should IndyMac face any type of bankruptcy or similar.

By: Jimbo

Jimbo — Thu, 16 Aug 2007 13:49:05 +0000

Morgan, don’t mean to hijack your thread, but
I have a mortgage question you may be able to
answer.

A friend took out a construction to perm
loan with Indymac to build a house this
year. He is right in the middle of the
building process. Is there any risk that
the money for the draws would be unavailable
if something were to happen to Indymac or
the credit situation gets much worse?

Would accelerating the draws be a resonable
thing to do?

By: CakBlog

CakBlog — Wed, 15 Aug 2007 04:04:15 +0000

Great article, very informative!