Thursday, October 6, 2011

Mortgage Frustrations

We bought our house at the top of the market in 2005. We put a down payment down, and didn't finance 100% of the mortgage. We now owe $241K on a house that's worth roughly $125K. There is NOTHING anyone can do for us. Short of getting up and walking away, there's no recourse or assistance available. We can't even take advantage of the much lower interest rates, because our OWN MORTGAGE COMPANY -IndyMac aka OneWest Bank- won't even look at our loan to do a rate adjustment. Never mind that we've never been late on a payment. Never mind that our DTI is in the low teens. Never mind that IndyMac itself had to be bailed out by the Feds in 2008.

Where's the assistance to homeowners like me who no one gives a damn about? You banks should be bending over backwards to keep "good" borrowers like me in my home!


  1. Obviously I'm commenting on a really old post, but yep. Those of us who want to do the right thing are offered no assistance, and those of us that are notoriously late and never pay things for which they owe are offered a million "programs" to bail them out. Sorry housing market - I just contributed to your ongoing demise.

    Also, hi! :)

  2. I don't take it personally. If there was a way to get out of this house and still be in a situation where I could buy something, I'd jump on it too. But, the husband and I are both on the mortgage.