Ouch…Feds Take Control Of Mortgage Lender IndyMac Bank
July 12th, 2008 categories: Mortgage News, Real Estate News
According to this report , IndyMac is the largest regulated thrift to close its doors in US history. Those of you that are on the fence about when to get financing to purchase a home in the near future need to view this as a sign that sooner is better than later. Every time something like this happens it tightens lending requirements and reduces mortgage options for consumers. If you need to buy a home in the next 30 days we suggest you lock in your loan ASAP and close it quickly. Waiting for a better price on a home you want won’t do any good if you suddenly can’t get financing or the financing becomes to expensive for your budget. If anyone out there has been directly affected by this we would love to hear your comments.
Deryk
