What if i deny there offer of forebearance

[paint4u]

I have been told that wamu would do a forebearance 4,- 6 mos. Im wandering if ican get a loan mod using the new home deal from ohbama they say our income was not matchig up however i think after all i have read this could be one of there liitle but often ploy to get everything out of us they can they have placrd our loan in foreclosure so i know my time is getting real short i also dont want to be taking advantage of can you still apply with hope now and can they get a loan mod. Even before my 6mos. Are up

[paint4u]

Just was told wamu was going to offer forebearance but i beleive i can qualify for loan mod what if i deny there offer and seek loan mod thru naca ?

[Moe Bedard]

Hi paint4u,



Welcome to the forum and thank you for joining..............


The modification given is up to the investor on the loan.............

You may want to ask NACA, if you accept the forbearance.............will you be able to do the Home Save modification with them..........their services are free..............here is the link............they should be able to let you know if you would need to wait until it is completed to work with them or if you can now...............

https://www.naca.com/refinance/refinanceTenStep.jsp

[paint4u]

Thank you ***

[paint4u]

Dose my loan being with fannie may give any leaverage

[Moe Bedard]

It just gives you options for the modification..........but certain criteria still needs to be met............you would need to ask WaMu if there are other options for you as a result of the new program.

WaMu
1-877-533-8960

[paint4u]

thanks for your input and phone # i have about 10 #s but only three are really any good i plan on persuing every option and it takes alot of stamina seeing you always talk to someone diifrent but it dose u a world of good to take names and ext. #s just so that person knows you are a little aware of whats going on even if you dont i even contacted my district rep. but you have to fax a third party auth. before they will discuss your info with them i plan on contacting my rep mon. and bring them up to date i send emails and all the info concerning what i know and that my rep will be also contacting them i believe her making the initial phone call might have something to do with offering the foreberance so suddenly the #she used was wamu exe. 800-225-5497 i hoping with some more pressure and insisting i would be elgible for the new plan that they will take another look at it sometimes you just to keep insisting tks alan

[snapple candy]

paint4u,
My mortgage is with WAMU also and that is what they offered me too. A forbearance. They have drug this out for me for 9mths and not anything yet worked out except bogus loan mod offer recently I turned down. I have not had good luck with Exec. offices either to date but just starting communicating with them (they dont call me back). I think they are delay mode for everyone and forbearance buys them time (and you too). WAMU Loss mitigation told me a couple weeks ago, my loan was a "freddie mac" loan. I was hopeful the new guidelines would apply and assist me. I just received email today from Freddie mac (after on-line inquiry), that it is not one of their loans so I am confused and need to further investigate. I would confirm for yourself it is a fannie backed loan. I hope you have better luck with WAMU than I. Keep us posted.

[paint4u]

When you rejected there offer for forebearence what was there reply ,is your loan in foreclosure mine is at the attornys and they say they cant stop process untill they get word from wamu that we have reached an agreement not sure if this is true or not they work hand in hand if you know what i mean i called fannie mae and they told me thet it was there loan have you contacted your local rep. They will listen you will have to give third party release so wamu will be able to talk to them about your loan almost every body that you need to hear from seems to take at least 2 days so i just keep calling sending e-mails i wont let up !

[snapple candy]

They have not replied (been 30 days) since I also told them they were being dishonest and not acting in good faith since they changed terms they originally offered me and wanted to tack on excessive fees. I suspect they dont want to admit to that and since their offer was verbal, I have no proof. This same negotiator also one whom told me I had a freddie mac loan when it is not. I dont know if they are just incompetent, overwhelmed and mixing up cases, or just plain acting in bad faith but do believe they have been intentionally delaying the process and were waiting for Obama to come into office to see what was to happen. I didnt ask for the forbearance, they offered to me and I could have qualified for modification back then too.
Mine had been referred to foreclosure dept before forbearance which expired Feb 1. I have filed complaint against them with Comptroller which may not be of any value and really do not know what is going on as Exec offices say they have referred my case now to 2 different people this past week and those people wont return my calls.
When you say local rep, whom do you mean? If you mean legislative reps, they have been no help and appear to me as not wanting to get involved directly with issue and I saw in the paper this week our county has the highest foreclosure rate in the state. Ill stay on top it and keep you updated. I havent heard alot of people on this blog talk about WAMU experience. It is nice to compare notes.

[paint4u]

Yea it was my district rep she also gave me a contact in the senators branch who deals with banking/federal cilia simms 202-224-3154[ senator richard burrs] i know there hasnt been alot of wamu threads

[paint4u]

Good news i think ,recieved email asking for wifes income to be verifed mon. 3/7/09 sent email explained all i could and then faxed wifes ,w-2 from last year seeing she wont start work again untill 3/19/09 wich means they are at least still looking to do loan mod. Still waiting to hear back , just some info im preety sure they offer the forebarence because it keeps them in control and gives them more oppertunity to add fees but the ohbama plan now gives them an incentive to do the loan mods. Yes it is money

[snapple candy]

Hi Paint4u,
I talked with WAMU default dept and had to push to get them to re-evaluate loan mod based on Obama guidelines. I did find out I have a Fannie Mae loan and not freddie mac. They also are charging me (I will fight this later) a fee for an inspector to come out last week (unannounced) to determine if I had abandoned the house. When I inquired as to why this was done, she said usually when they cannot get a hold of the borrower. This is a load of crap since I am the one whom always calls them and available by fax, phone and email. I asked that a new person be assigned and she said ok. We'll see. Forbearance gives them time to figure out how to screw you more and see what other lenders do and what they can get away with.I will be curious what they will offer you since it appears they will be starting over with mine.

[paint4u]

Hi snap, i know its agame we have to play at least we have the forum and stamina not to give up and give in they tried that abandon trick with me i told them i would fax my utility bills over then they change there story you see with the new plan they cant charge you anything so they are trying all there other little tricks to get money out of us if they would just be upfront and get the loans done they and us would be better off and they could get alot more people back on track

[paint4u]

Dose anyone know if loss mitigation dept ang default dept in wamu is the same dept?