If Indymac bank is your mortgage holder- what happens now?

Question

Do they sell the note and if so do you pay a higher interest? can they just recall the mortgage?

Answer 1

Everything will most likely remain the same.  No they won't just "recall" the mortgage. Your terms won't change unless you are on an adjustable rate mortgage, then only when it is scheduled to adjust.  It's fine, the gov is taking care of it.

Answer 2

Do not be concerned.

They cannot just recall your mortgage and once you have signed loan documents and closed on a mortgage the terms cannot be changed under any circumstances.

The note has already been sold to the highest bidder and at some point in the next 90 days you should get a letter in the mail explaining what occurred and who is now holding the note.

You have nothing to worry about.