Saturday, July 12, 2008

query: what do I do about my construction loan with Indymac

Wait until Monday, then call your Indymac contact. The FDIC will set up orderly guidelines for employees in lending. Your loan may stay with the new entity Indymac Federal Bank. Expect the phone lines to be busy and you may have to wait a few days to get a specific answer, but don't panic. Our banking system is wonderful and you may even find that your loan experience doesn't skip a beat.

This comment presumes that your loan has already closed. If you have a loan in process, you may need to move the application to a different mortgage lender. For now, I would just chill until Monday and then try to reach a contact in lending. Again, be patient.

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