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Lisa in MN · 12-18-2008, 07:54 PM

Hi Everyone,
Here is the email I just sent to my WAMU loan mod contact. Input expected and hoped for! (Be kind and diplomatic- I already sent it and I have nothing to lose!!!!! Thanks

Lisa

Thank you for your phone call this afternoon.

Prior to having our attorney review the offer our investors have given, I would like to see if you could approach them with the following:

Do not add past due amount, late fees, attorney fees or anything to the principal, and proceed with the Step Rate Modification. With this increase in principal, the modification essentially keeps us renters as we will more than likely never regain the appraised value this mortgage was based on. If we turned around to see our house in even 10 years we would owe more than we could sell it for. Keeping the principal under 300,000 reduces this likelihood as we have seen what houses sell for in our town.It is not my intent to be greedy or ungrateful for the offer that is currently on the table- I am better informed than I have been in the past, and thinking long term- something had I done 8 yrs ago, would not be in this mess. My not adding the above mentioned fees into the principal, investors still come out better than a foreclosure, and we don't have to move. Walking away makes the most sense from a purely business standpoint, even if they agree to my request, but not from an ethical one.Does acceptance of this modification as it is prevent us from any future litigation should our Real Estate attorney find TILA violations in our mortgage documentation?

What I am proposing benefits everyone involved. Had we been able to get assistance and cooperation from anyone at Washington Mutual, we would never have missed 9 mortgage payments. I know this is not your fault April, you have acknowledged the poor customer service and apologized for it and have been the kindest person I have dealt with at Washington Mutual, and you have been wonderful. The investors need to know we tried to do everything to communicate with the company they have hired to service loans and met with nothing but resistance- until you.

Please let me know what you find out. I have made an appointment with our attorney for Tuesday, December 23rd. If the investors will agree to my suggestion, we will not need the meeting and will save 250.00 and will sign the modification immediately upon reciept.

Have a good day and thank you once again for all you have done.

12-18-2008, 07:54 PM	#58 (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	Re: Finally offered WAMU loan Mod! Hi Everyone, Here is the email I just sent to my WAMU loan mod contact. Input expected and hoped for! (Be kind and diplomatic- I already sent it and I have nothing to lose!!!!! Thanks Lisa Thank you for your phone call this afternoon. Prior to having our attorney review the offer our investors have given, I would like to see if you could approach them with the following: Do not add past due amount, late fees, attorney fees or anything to the principal, and proceed with the Step Rate Modification. With this increase in principal, the modification essentially keeps us renters as we will more than likely never regain the appraised value this mortgage was based on. If we turned around to see our house in even 10 years we would owe more than we could sell it for. Keeping the principal under 300,000 reduces this likelihood as we have seen what houses sell for in our town.It is not my intent to be greedy or ungrateful for the offer that is currently on the table- I am better informed than I have been in the past, and thinking long term- something had I done 8 yrs ago, would not be in this mess. My not adding the above mentioned fees into the principal, investors still come out better than a foreclosure, and we don't have to move. Walking away makes the most sense from a purely business standpoint, even if they agree to my request, but not from an ethical one.Does acceptance of this modification as it is prevent us from any future litigation should our Real Estate attorney find TILA violations in our mortgage documentation? What I am proposing benefits everyone involved. Had we been able to get assistance and cooperation from anyone at Washington Mutual, we would never have missed 9 mortgage payments. I know this is not your fault April, you have acknowledged the poor customer service and apologized for it and have been the kindest person I have dealt with at Washington Mutual, and you have been wonderful. The investors need to know we tried to do everything to communicate with the company they have hired to service loans and met with nothing but resistance- until you. Please let me know what you find out. I have made an appointment with our attorney for Tuesday, December 23rd. If the investors will agree to my suggestion, we will not need the meeting and will save 250.00 and will sign the modification immediately upon reciept. Have a good day and thank you once again for all you have done.