| Re: WaMu loan mod? ARM will never go down!
No having equity is actually good results in the modification process, they know that you have a vested interest in keeping the equity and equity or no equity a foreclosure costs about 15,000.00 to 35,000.00 depending on the state and the length of time involved. That also includes the cost of REO after foreclosure while the Bank has to market the property for sale again....
Your area is one of the few not designated declining values yet on the radar screen...that is good.
The bank does not want you property, the investor if it is Deutsche, has plenty already, trust me.
Make hay with that hardship letter and believe me the folks at WAMU understand they are loosing their jobs too in the production side faster than ever.... |