Shed no tears for bumbling IndyMac - GoFuckYourself.com

tony286 · 07-16-2008, 07:19 PM

Summer of discontent: Shed no tears for bumbling IndyMac

By Bill Creeden
For the Journal-Constitution
Published on: 07/16/08

Do not feel bad for IndyMac, the California-based bank seized by federal regulators Friday. I am a builder who has deeply felt the financial loss of the housing downturn.

Last August, I realized I could not afford the $1 million home I had built for my family. We moved out and put it on the market. I made the $6,000-a-month payments as long as I could ?- April. I contacted IndyMac, before the payment was late, and tried to explain my situation, and tried to work out an arrangement. All I got was, "But you're not late yet."

Now that the loan has been late, I of course receive two or three collection calls per week. I have tried to work with the loss mitigation department, but all they have to say is, "You just need to make a payment." During the entire time, I have been taking good care of the house and landscape.

As the 90-day past-due mark approached in June, IndyMac had the house "winterized." They shut off all the plumbing, disabled the air conditioners, changed the door lock, and put warning stickers everywhere. I contacted them to remind them I am trying to sell the house, which is their best bet so they would not lose money in this situation. All I got was, "Winterizing is a necessary step in protecting our collateral."

Winterizing a house that is obviously being taken care of, in Georgia, in June, is necessary? Enough said. They will probably proceed with foreclosure, I will probably lose my equity, and they will lose multiple six figures. Please, don't feel bad for a company that employs people who can't fog a cold mirror after a hot shower.

IllTestYourGirls · 07-16-2008, 07:23 PM

sounds like some moron bought a house he could not pay for then expected the bank to cut him a deal. The bank was not smart enough to cut him a deal and they both lose. oh well no tears here

GetSCORECash · 07-16-2008, 07:26 PM

I wouldn't feel sorry for them either. They got into this mess just like everyone else.

You should feel sorry for the folks who had more then 100k with them, those poor bastards may get $0.50 on the dollar.

IllTestYourGirls · 07-16-2008, 07:27 PM

Quote:

Originally Posted by SCORE-Cash

I wouldn't feel sorry for them either. They got into this mess just like everyone else.

You should feel sorry for the folks who had more then 100k with them, those poor bastards may get $0.50 on the dollar.

do those people not fucking understand the signs all over the bank saying only 100k is insured? Seriously wtf is wrong with people?

tony286 · 07-16-2008, 07:31 PM

Quote:

Originally Posted by IllTestYourGirls

sounds like some moron bought a house he could not pay for then expected the bank to cut him a deal. The bank was not smart enough to cut him a deal and they both lose. oh well no tears here

Read it again with an open mind.He built the house, the market changed. If your industry the
bottom dropped out would you like to be treated the same way?

MikeHawk · 07-16-2008, 07:32 PM

THIS PRETTY MUCH TELLS THE REAL STORY

https://youtube.com/watch?v=C4SwK8cdujc

WiredGuy · 07-16-2008, 07:33 PM

Maybe he has a better chance now that the FDIC is taken over operations.
WG

IllTestYourGirls · 07-16-2008, 07:34 PM

Quote:

Originally Posted by tony404

Read it again with an open mind.He built the house, the market changed. If your industry the
bottom dropped out would you like to be treated the same way?

I own a construction company I know where he is at. I am no where nears having to change my life because of the market down turn. I am smart enough to LIVE BENEATH my means. He was not. The bank was dumb enough to loan someone that is living beyond his means in a market that is always changing.

If he bought a 250k house he would still have it for many years. enough years to allow the market to change again

tony286 · 07-16-2008, 07:37 PM

Quote:

Originally Posted by IllTestYourGirls

I own a construction company I know where he is at. I am no where nears having to change my life because of the market down turn. I am smart enough to LIVE BENEATH my means. He was not. The bank was dumb enough to loan someone that is living beyond his means in a market that is always changing.

If he bought a 250k house he would still have it for many years. enough years to allow the market to change again

You are assuming a lot on little info.

IllTestYourGirls · 07-16-2008, 07:40 PM

Quote:

Originally Posted by tony404

You are assuming a lot on little info.

lol how much is a down payment on a million dollar house? around enough to buy a 250k house. He would not have lost anything if he had just bought outright.

Maybe I am assuming a lot. But its pretty easy to assume when people blame someone else for their problems. And it is pretty easy to tell he was living beyond his means.

tony286 · 07-16-2008, 07:46 PM

Quote:

Originally Posted by IllTestYourGirls

lol how much is a down payment on a million dollar house? around enough to buy a 250k house. He would not have lost anything if he had just bought outright.

Maybe I am assuming a lot. But its pretty easy to assume when people blame someone else for their problems. And it is pretty easy to tell he was living beyond his means.

He wasnt blaming anyone, he was current on payments and want to work things out with them. They said no your current. They winterized the house in fucking georgia in june and the man was trying to sell it. He was blaming no one ,they kept stone walling him so he couldn't do the right thing. It's easier I guess to assume he is a fuck up than that the bank are jerk offs.

baddog · 07-16-2008, 07:47 PM

Quote:

Originally Posted by tony404

You are assuming a lot on little info.

And you aren't?

spunkmister · 07-16-2008, 08:14 PM

Quote:

Originally Posted by tony404

He wasnt blaming anyone, he was current on payments and want to work things out with them. They said no your current. They winterized the house in fucking georgia in june and the man was trying to sell it. He was blaming no one ,they kept stone walling him so he couldn't do the right thing. It's easier I guess to assume he is a fuck up than that the bank are jerk offs.

what the banks did is right within their policy, whether you agree or not. The guy made an investment, it didnt work out and he got burned, it happens.

IllTestYourGirls · 07-16-2008, 08:29 PM

Quote:

Originally Posted by tony404

He wasnt blaming anyone, he was current on payments and want to work things out with them. They said no your current. They winterized the house in fucking georgia in june and the man was trying to sell it. He was blaming no one ,they kept stone walling him so he couldn't do the right thing. It's easier I guess to assume he is a fuck up than that the bank are jerk offs.

sorry you are misunderstanding me. my fault. BOTH are fuck ups. He never would have sold it before he defaulted. thats my guess

07-16-2008, 07:19 PM	#1
tony286 lurker Industry Role: Join Date: Aug 2002 Location: atlanta Posts: 57,021	Shed no tears for bumbling IndyMac Summer of discontent: Shed no tears for bumbling IndyMac By Bill Creeden For the Journal-Constitution Published on: 07/16/08 Do not feel bad for IndyMac, the California-based bank seized by federal regulators Friday. I am a builder who has deeply felt the financial loss of the housing downturn. Last August, I realized I could not afford the $1 million home I had built for my family. We moved out and put it on the market. I made the $6,000-a-month payments as long as I could ?- April. I contacted IndyMac, before the payment was late, and tried to explain my situation, and tried to work out an arrangement. All I got was, "But you're not late yet." Now that the loan has been late, I of course receive two or three collection calls per week. I have tried to work with the loss mitigation department, but all they have to say is, "You just need to make a payment." During the entire time, I have been taking good care of the house and landscape. As the 90-day past-due mark approached in June, IndyMac had the house "winterized." They shut off all the plumbing, disabled the air conditioners, changed the door lock, and put warning stickers everywhere. I contacted them to remind them I am trying to sell the house, which is their best bet so they would not lose money in this situation. All I got was, "Winterizing is a necessary step in protecting our collateral." Winterizing a house that is obviously being taken care of, in Georgia, in June, is necessary? Enough said. They will probably proceed with foreclosure, I will probably lose my equity, and they will lose multiple six figures. Please, don't feel bad for a company that employs people who can't fog a cold mirror after a hot shower.

07-16-2008, 07:23 PM	#2
IllTestYourGirls Ah My Balls Industry Role: Join Date: Feb 2007 Location: Under the gold leaf ICQ 388-454-421 Posts: 14,311	sounds like some moron bought a house he could not pay for then expected the bank to cut him a deal. The bank was not smart enough to cut him a deal and they both lose. oh well no tears here __________________

07-16-2008, 07:26 PM	#3
GetSCORECash Confirmed User Industry Role: Join Date: Mar 2008 Location: Miami Posts: 5,527	I wouldn't feel sorry for them either. They got into this mess just like everyone else. You should feel sorry for the folks who had more then 100k with them, those poor bastards may get $0.50 on the dollar. __________________ \| skype: getscorecash \| ICQ: 59-271-063 \| New Sites: \| SCORELAND2 \| Roku Channel SCORETV.TV \| 60PLUSMILFS \| \| Big Tit Hooker \| Tits And Tugs \| Big Boobs POV \| Karla James \| \| Naughty Foot Jobs \| Linsey's World \| Busty Arianna Sinn \| Get SCORE Cash \|

07-16-2008, 07:32 PM	#6
MikeHawk Confirmed User Join Date: Jan 2004 Location: In bed with Harley Girl....Not sleepin Posts: 6,683	THIS PRETTY MUCH TELLS THE REAL STORY https://youtube.com/watch?v=C4SwK8cdujc __________________ THE AMBUSH INTERVIEW

07-16-2008, 07:33 PM	#7
WiredGuy Pounding Googlebot Industry Role: Join Date: Aug 2002 Location: Canada Posts: 34,482	Maybe he has a better chance now that the FDIC is taken over operations. WG __________________ I play with Google.