Okay, so another Bank (IndyMac) is going out of Business, what does this mean? Well that is a great question, which will not be answered for a couple of days or months.
I do think that you will start seeing higher interest rates for mortgage loans. I think you will see more price reductions across the country. Which could mean more foreclosures where then individuals had ARM's, or adustable rate mortgages.
I think you will see more smaller lenders going out of business, mostly because it the only loans will come from the federal government. I think this is the most nerve racking part about the situation.
