Home Mortgage Plan Set by FDIC for IndyMac Borrowers
Under a new plan from federal regulators thousands of troubled home borrowers with loans from IndyMac Federal Bank will be able to switch to fixed-rate mortgages, which seized the bank last month after it became the largest regulated thrift to fail.
The Federal Deposit Insurance Corporation said Wednesday, most IndyMac borrowers who are seriously delinquent or in default on their mortgages and can document their situation will be able to switch into loans capped at an interest rate around 6.5%. Unchanged from the previous two weeks, the average U.S. rate on 30-year, fixed-rate mortgages was at 6.52% last week.
Full Article...Home Mortagages, Miami Beach Real Estate
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