IndyMac siezed by the federal government

Another irresponsible bank, IndyMac, failed in the last 30 minutes. Indymac's specialty: providing loans without requiring documentation on income. IndyMac is the second biggest financial institution to fail in American history.

What does this mean to homeowners? Higher interest rates and lower home prices; that means the monthly payment for homeowners with adjustable rate mortgages will go up. At the same time, the price of their home will go down.

What is the result for homeowners? More foreclosures.

Mike Robinson wrote an excellent article for YourHub about why we fight foreclosures. Read it at http://denver.yourhub.com/CastleRock/Stories/News/Law/Story~494875.aspx

Bill Henry

Even CNN has picked up on the "Real Party in Interest" defense

CNN has recently discovered the value in challenging the ownership of the debt in a foreclosure action. Watch the video here.


http://money.cnn.com/video/#/video/news/2008/06/20/news.hunter.produce.note.cnnmoney