Well as IndyMac doesn’t seem to be doing investor loan modifications unless you know the right people this post, we guess, will really be for those people. As anyone processing or just dealing with the loan modification industry it has changes almost on the daily basis. In the last week it seems that this is no stranger to IndyMac to do the same thing. The rules are now for investor loan modifications (non-owner occupied loan modification) with IndyMac, and soon to maybe come to others who also service loans for Freddie Mac and Fannie Mae, requesting 6 months of proof of income from the rental properties. In many cases investors don’t always deposit their money but not they are being advised that they should. Reason being that the investors behind these loans are wanting to see proof of the rental income in the form of bank statements only.
The investors in some cases will accept receipts or other proofs of income but we suggest that the road of least resistance is always the best road to travel.