Eligibility Requirements for IndyMac FDIC Loan Modifications
The purpose of IndyMac's loan modification program is to prevent future foreclosures and to pull troubled borrowers out of foreclosure by modifying the interest rate, term of the loan and / or principal balance.
- The loan must be a first mortgage that is owned or serviced by IndyMac.
- The home must be presently owner occupied.
- Borrowers must be currently in default or at risk of default due to recasting of an Option ARM or rate resets on an adjustable.
- Must be able to afford a 38% debt ratio payment of principal, interest, taxes and insurance at a new lower rate and term.
For more information, call 800.781.7399 or 877.908.4357.
