Indymac bank please help or government.?

Question

my parents refinanced our home with you guys and now after 2 years they are paying $4,500 when we started off paying $2,000 now it is at 1% intrest rate please consider helping my parents they are hard working people and to tell you the truth i hate seeing them cry and argue over this dramatic problem please help!

Answer 1

They might be able to qualify for the housing bailout that just passed today. They need to contact their lender ASAP though.

FYI the entire bailout plan is voluntary, and the lenders can turn anyone down that they want to for any reason.

Sorry about your parents. I know it doesn't mean much, but a lot of people are going through the same thing too.

Answer 2

Congress has passed a bill that will let your parents refinance their mortgage with an appropriate fixed rate loan.  The Government is backing this process.  Suggest to your parents that they recontact their loan company.