Indymac Bank REOs: What Is Happening Now

After the roller coaster we experienced after the OTC and FDIC shut their doors last week and took over. Just as they stated in a statement they opened the doors of the bank to reduce the panic against the bank.

We would have had a review last week but when they shut down the bank they also closed the website, that is not the case now. They have a standard search but many listings with about 85% of having pictures. They also have an email alert feature so you can have alerts sent to you when properties arrive in their REO department that meet your real estate criteria.

Bank Info:

IndyMac Federal Bank, FSB (Federal Savings Bank) is a bridge bank created to manage assets and liabilities of IndyMac Bank, FSB until they can be disposed of. Before its failure, IndyMac Federal Bank was the largest savings and loan in the Los Angeles area and the seventh largest mortgage originator in the United States. The failure of IndyMac Bank on July 11, 2008, was the second or third largest bank failure in United States history, and the largest failure of a regulated thrift.