Girlfriend have mortgage surrounded by foreclosure next to IndyMac Bank what can she do interest rate is adjustable at 12.25?

Answers:
My god, 12.25%. WHY!!

Unless she can refin, within isn't much.
Your Girlfriend can turn through a Short Sale process which is selling the home at a fair market utility to satisy the note and hopefully she'll find a buyer, if she finds a buyer in most cases she can put within a postponement request for that foreclosure scheduled sale date, that short mart will show on her credit as "Satisfyed for less than the amount do" for 2/3 yrs. rather than a Foreclosure which will be on her credit for 7/10 Yrs. If she can't do that she can do a Deed In Lieu which is Voluntarialy Deeding the Property rear legs to the investor or the insurer in exchange to the obligations of the register, the home will have to be listed at a f¨ēte market value for at tiniest 90 days and has to have surrounded by most cases only one lien on the property.
If the S.S. or the D.I.L. won't work she can try to see if she qualifys for any reteintion options, refinance option or the 5 Year Rate Freeze.
I wish you and your girlfriend the best, and there is other an answer, call your bank or look surrounded by her NOTE, she'll find the Investor and do some research on that investor. Any bank will work with you, they a bit keep a family contained by a home than taking another one.
Keep us updated!
Wow, she really screwed up.

She needs to refi or walk.
The FDIC has temporarily halted IndyMac foreclosures. They may be ready to renegotiate. She also has time to try to find a new mortgage.
This is what I'd do in this order:

Refinance - can she attain a new loan?

Call IndyMac's "Loss Mitigation" department and ask for a loan modification.

Sell the house. If need be do a Short Sale (if she owes more than the home is worth.)

Determine if you are Upside Down on the mortgage (owe more than the home is worth).

Determine whether or not she will owe 1099-C Cancellation of Debt Income.

Determine if she will be liable for a Deficiency Judgment. These law vary by state.

If you are upside down and have to repay tax on 1099-C income and are liable for a Deficiency Judgment and you are not able to refinance or provide the home, then let the ridge foreclose. Prior to the foreclosure sale contact a bankruptcy attorney and see if you can record a Chapter 7 bankruptcy and discharge the mortgage in the ruin.

Hopefully you can just get the rate lowered and stockpile the home.

Mr. Financial Freedom
http://www.5stepstofinancialfreedom.com
Refi at a fixed rate of 6.25. Source(s): real estate broker

Related Questions:
Where can I find the best mortgage rate for refinancing?
I am not sure whether to refinance with debt consolidation, cash out or a home equity loan or string of credit. Search on the following sites: http://www.bankrate.com/brm/default.asp (I prefer this one) http://hsh.com/ all the questions you asked are...