| Re: WaMu loan mod? ARM will never go down!
Thank you for joining and welcome to the forum....
We do not get a lot of WAMU up here since they are very good a modifying and very proactive with their customers....
You chances with them are excellent and as far as the "deal" that they give you since we get so little of their issues here that is kind of unknown. No these ARMS do not go down they have built in recapture rates, were fully indexed at the onset.....the picture is grim at best and downright ugly at worst.
However modification can relieve the situation for you and WAMU is one of the better to deal with over the long haul. Credit score is not the problem or an issue, that 150.00 left over at the end of the month is great...well not really, but for this situation is in the ball park. Yes it is hard on couples, however now is the time to get stronger, and band together with family...hold on to each other, you are a team....
WAMU again is very good on this situation....so do not loose hope and if necessary with those credit cards...go to CCCS for assistance it is an informal work out like Chpt 13, with out the financial stigma on your credit report that Chpt 13 has....if need be do it. They can not help with auto or secured loans, but they sure can with the Credit Cards and keep them from harassing you all the time.
Stay together and be a team, this is no one's fault, it is what it is and I am sure that if you are financial services you have heard that one more than enough....
Keep us posted, we want to know that you are OK and I would love to follow a WAMU work out....just curious you know. |