http://www.thinkbigworksmall.com/mypage/archive/1/29027 Check out this sweetheart deal given by the FDIC to IndyMac/OneWest. (5:37 video) (gist: IndyMac and others will do what's most profitable for them based on "kickbacks" and prior "agreements" for. So they may refuse a loan mod because it's more profitable to foreclose in the end...or short sale...or whichever of them works out to their favor to squeeze out as much as feasibly possible with the losses basically covered elsewhere) **ahh geez, been reposted** sorry!!
OneWest is a private company and IMHO anyone who purchased RE that couldn't afford in a long run need to be foreclosed.