banks

IndyMac has shut its doors, leaving depositors with a very stressful weekend as they try to find out whether their deposits are secured by the FDIC. And, even if they are, how soon before they can get to their money.

And, in the wake of that, there are rumblings that Freddie Mac and Fannie Mae may be next. If that happens, it will be very very difficult to get a mortgage loan for at least a few months. I talked to Aaron Van Trojen (Morgan Financial) two days ago and he said that there would likely be NO stated income loans available by the end of the month.