Fdic owns heloc

[dm415]

Check this out,amtrust bank who has my heloc,(discharged and non reaffirmed) has went under,I got a letter from the FDIC.I just sent them a 10% settlement offer before this.I wander how this will play out.

[Faust]

How long ago did you send it?! This could be very messy.

[dm415]

2 weeks ago,I dont think the goverment would want my house though.

[dm415]

Well I finally get a call from the fdic,they have my settlement offer letter and they own the loan now.She really wasnt sure about doing a settlement,she offered a mod,like an interest only deal,I said no way.Then she says what about a short sale,I said thats pretty much the same thing as a settlement.I dont think they are very experienced with this.I am gonna try to use that to my advantage.She is gonna call me back.Anybody ever deal with the fdic???If the fdic owns the loan and holds the deed.Did they pay money out for it,or was it just aquired because of the amtrust bank failure.

[iv65536]

Well I finally get a call from the fdic,they have my settlement offer letter and they own the loan now.She really wasnt sure about doing a settlement,she offered a mod,like an interest only deal,I said no way.Then she says what about a short sale,I said thats pretty much the same thing as a settlement.I dont think they are very experienced with this.I am gonna try to use that to my advantage.She is gonna call me back.Anybody ever deal with the fdic???If the fdic owns the loan and holds the deed.Did they pay money out for it,or was it just aquired because of the amtrust bank failure.

I thought NYCB got the lion's share of the loan portfolio out of the Amtrust failure. I got a letter from NYCB recently relating to the Amtrust failure.

FDIC simply agreed as part of the deal to absorb most of the losses on the loans that Amtrust had on its books.

Me? They have the 1st - I'm using that as a tool to make the 2nd sit on its hands. Interest-only ARM, 2006 vintage.

[dm415]

Your right but the fdic has mine.I am sticking to my guns on this settlement.