Behind on my Mortgage, Waiting for Indymac to Make us an Offer

Why dont you call their 800 number and talk to them?  They have lots of DQ loans to look at, you probably should take ownership of your situation.  Also, no one says they will offer you anything.. Maybe they'll decide that no matter what they do you still cannot afford the home and will proceed with FC.  FC depends on the state you live in and the surrounding laws.  Are you able to afford the place but want a better deal, or are you unable to make the payments for some other reason?

Scott's right, indymac will not just up and call you if you are a couple of months down, to modify your loan.  You have to contact them, and they'll tell you to submit a modification package.  I would suggest posting, again what your interested in doing w/ some more info, and what state your in, and we can help.  You'll probably need to talk with a good modification company.  Many people on this forum are experienced w/ doing mods.    

Indymac is controlled by the FDIC and are following the FDIC modication model. You must contact them and ask for the modification application. You must be honest and provide income documentation (among other things). You must be able to qualify for the modification. If you cannot document income or don't make enough money to qualify for a modified payment, you will not be eligible.

I have a friend who is under contract modifying loans for FDIC seized banks. They generally have been doing a stepped up modification starting @ 3% that increases .5% for the next five years. After year five, the rate is fixed @ market. This was as of 2 months ago so it has likely changed since then.

4 months behind means that a notice of default will be filed. By month 6 you will be up for auction. Time is of the essence and you must grab the bull by the horns and contact Indymac.