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Lisa in MN · 10-13-2008, 08:35 PM

Hi all-I just finished my letter to WAMU and I will share it here. Let me know what you all think. I figure at this point I have NOTHING to lose. (Like the cleverly hidden identifying info with "X's" ? ) I sent it via email to every single email adress I found on here, and tomorrow I will send it certified mail as well.(BTW- denise.grey@wamu.netbounced back right away)
I figured I need to DO something even though we have a banker negotiating---I am no someone who can wait around and even if this letter sucks- I did something and stated my terms and will stand my ground.Like I said nothing to lose by approaching them as human beings.
I feel so much better just for hitting "send"- you have no idea.

Warm hugs to everyone struggling,

Lisa
Attention Customer Service
Subject: Loan number
Lxxxx A. and Bxxxx J Nxxxxx

XXXXX,
To Whom It May Concern:
This is a “Qualified Written Request” under Section 6 of the Real Estate Settlement Procedures Act (RESPA).
I am writing to request:
(1) Copies of all documents pertaining to the origination of my mortgage including my loan application, Right to Cancel, Deed of Trust, note, adjustable rate note, Truth in Lending statements, Good Faith Estimate (GFE), HUD 1, appraisal, and all required disclosures and rate sheets associated with this transaction for the above referenced loan. The copies should be legible and all documents shall be copied in their entirety..
I believe that our loan was given to us based on an inflated appraisal of our property done in October 2006 by Fremont Investment and Loan. The property appraised at $330,000 and was appraised in May 2008 at $225,000. The documents are needed for our Real Estate attorney’s review for other potential TILA violations
It is unfortunate that it has come to this because I contacted Washington Mutual customer service in December 2007 to try to work something out because I knew I would be losing a contracting job of 1,000 to 1,500 in additional income per month. I was told there was nothing for me because I was current on payments! I found this so incredibly hard to believe so I called back a second time, got a different person and asked again and was told the same thing. I was referred to the Early Loss Mitigation Department and sent all the required documentation Hardship Letter, etc…via fax. I called everyday for 2 weeks and was told they never received them. Yet by some miracle I was contacted on Memorial Day ( yes the holiday) to say our loan modification had been approved- I say miracle because it was approved with paperwork no one ever got a month ago! However this modification was unacceptable in the long term and would just keep us mired in the same situation we are in. In March 2008, we made the conscious decision to stop payment on our mortgage because we just could not live the way were living any longer. It was that month that I saw an article in our local paper from XXXXXXX Bank and the XXXXXXXX program. I contacted them and we were approved for the program. The facts are: Our mortgage is close to $300,000. Current appraised value of our home is $225,000, and a more likely sales price would be $210,000-$215,000. XXXXXXX offered $165,000 to Washington Mutual and as of this date it has not been accepted. This offer was based on loss to Washington Mutual if the house is foreclosed on, which now it is happening. We received notice this morning of the Sheriff’s Sale which is December 4^th, 2008.
We are interested in reaching an agreement on this situation prior to the actual foreclosure. I know XXXXXXX Bank has been in contact with you, but I am also interested in seeing if we can reach a mutually beneficial agreement. We want to keep our home if we can do this, but if we can’t we will be further investigating any possible TILA violations regarding the loan documentation, including the original appraised amount in 2006. We would like Washington Mutual to consider the following restructuring/modification of our mortgage:
Refinance the loan to reflect the current market ( not appraised) value of $210,000 at 6.5% interest fixed for 30 years, including taxes and insurance, without adding past due amount to loan. This results in a payment of approximately $1,650 a month. This is a monthly payment we can afford without relying on the second income, because it includes taxes and insurance which our current terms do not.
Many things led to this situation we are in, bad financial investments as well as advice that we now know was bad ( to roll all the debt from a bad business debt into our home in 2000),Job loss and poor money management all contributed. However, that is the past and we want to look to the future and do what is best for our happiness and that of our family.
I understand that under Section 6 of RESPA you are required to acknowledge my request within 20 business days and must try to resolve the issue within 60 business days.
In closing, we are not trying to get out of paying anything. If we were, we would have filed bankruptcy 8 years ago instead of starting this mortgage mess. We only want the loan modified and interest rate lowered to result in a reasonable payment we know we can live with, and that will not get us in trouble again.
Sincerely Yours,

Lisa Nelson
.

10-13-2008, 08:35 PM	#6 (permalink)
Lisa in MN Senior Member Join Date: Sep 2008 Location: Minnesota Posts: 132 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Letter to WAMU..... Hi all-I just finished my letter to WAMU and I will share it here. Let me know what you all think. I figure at this point I have NOTHING to lose. (Like the cleverly hidden identifying info with "X's" ? ) I sent it via email to every single email adress I found on here, and tomorrow I will send it certified mail as well.(BTW- denise.grey@wamu.netbounced back right away) I figured I need to DO something even though we have a banker negotiating---I am no someone who can wait around and even if this letter sucks- I did something and stated my terms and will stand my ground.Like I said nothing to lose by approaching them as human beings. I feel so much better just for hitting "send"- you have no idea. Warm hugs to everyone struggling, Lisa Attention Customer Service Subject: Loan number Lxxxx A. and Bxxxx J Nxxxxx XXXXX, To Whom It May Concern: This is a “Qualified Written Request” under Section 6 of the Real Estate Settlement Procedures Act (RESPA). I am writing to request: (1) Copies of all documents pertaining to the origination of my mortgage including my loan application, Right to Cancel, Deed of Trust, note, adjustable rate note, Truth in Lending statements, Good Faith Estimate (GFE), HUD 1, appraisal, and all required disclosures and rate sheets associated with this transaction for the above referenced loan. The copies should be legible and all documents shall be copied in their entirety.. I believe that our loan was given to us based on an inflated appraisal of our property done in October 2006 by Fremont Investment and Loan. The property appraised at $330,000 and was appraised in May 2008 at $225,000. The documents are needed for our Real Estate attorney’s review for other potential TILA violations It is unfortunate that it has come to this because I contacted Washington Mutual customer service in December 2007 to try to work something out because I knew I would be losing a contracting job of 1,000 to 1,500 in additional income per month. I was told there was nothing for me because I was current on payments! I found this so incredibly hard to believe so I called back a second time, got a different person and asked again and was told the same thing. I was referred to the Early Loss Mitigation Department and sent all the required documentation Hardship Letter, etc…via fax. I called everyday for 2 weeks and was told they never received them. Yet by some miracle I was contacted on Memorial Day ( yes the holiday) to say our loan modification had been approved- I say miracle because it was approved with paperwork no one ever got a month ago! However this modification was unacceptable in the long term and would just keep us mired in the same situation we are in. In March 2008, we made the conscious decision to stop payment on our mortgage because we just could not live the way were living any longer. It was that month that I saw an article in our local paper from XXXXXXX Bank and the XXXXXXXX program. I contacted them and we were approved for the program. The facts are: Our mortgage is close to $300,000. Current appraised value of our home is $225,000, and a more likely sales price would be $210,000-$215,000. XXXXXXX offered $165,000 to Washington Mutual and as of this date it has not been accepted. This offer was based on loss to Washington Mutual if the house is foreclosed on, which now it is happening. We received notice this morning of the Sheriff’s Sale which is December 4^th, 2008. We are interested in reaching an agreement on this situation prior to the actual foreclosure. I know XXXXXXX Bank has been in contact with you, but I am also interested in seeing if we can reach a mutually beneficial agreement. We want to keep our home if we can do this, but if we can’t we will be further investigating any possible TILA violations regarding the loan documentation, including the original appraised amount in 2006. We would like Washington Mutual to consider the following restructuring/modification of our mortgage: Refinance the loan to reflect the current market ( not appraised) value of $210,000 at 6.5% interest fixed for 30 years, including taxes and insurance, without adding past due amount to loan. This results in a payment of approximately $1,650 a month. This is a monthly payment we can afford without relying on the second income, because it includes taxes and insurance which our current terms do not. Many things led to this situation we are in, bad financial investments as well as advice that we now know was bad ( to roll all the debt from a bad business debt into our home in 2000),Job loss and poor money management all contributed. However, that is the past and we want to look to the future and do what is best for our happiness and that of our family. I understand that under Section 6 of RESPA you are required to acknowledge my request within 20 business days and must try to resolve the issue within 60 business days. In closing, we are not trying to get out of paying anything. If we were, we would have filed bankruptcy 8 years ago instead of starting this mortgage mess. We only want the loan modified and interest rate lowered to result in a reasonable payment we know we can live with, and that will not get us in trouble again. Sincerely Yours, Lisa Nelson .