WTF is up with the whole banking crisis? The feds stepped in and bought out two more banks on Friday (July 25, 2008). This follows them propping up Freddie Mac and Fannie May and taking over IndyMac.
Interesting story - we recently bought a house. We were talking with a mortgage broker about how to do a land purchase and she went over our options with us. This company was good, this one was better and by all means avoid IndyMac. Why? They couldn't close a deal worth a crap. You'd get to the table and they would demand an extra $1500 for additional closing costs or something. They would find a way to screw you over. This was about a year ago. The rank and file knew about the problems a year ago. I bet if I talked to that broker now, she would flip out.
Oh well. I'm broke so I don't have to worry. My money's covered under the FDIC (technically a different branch or something since I'm in a credit union but still covered). {{It's the NCUA.}}
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