| Re: Our WAMU story
UPDATE: Today on my way home from work I got a call from the "negotiator" for our loan modification. A rather useless individual named Mary. The caller I.D. showed the phone number for WAMU executive offices. Anyway she first of all asked me how much we can pay on the 8 months we havent paid as well as interest and late fees and penalties, etc....this amounts to about 33,000. I asked her what the terms of the mod are and she said she cant tell me that until I tell her what we will pay. She said a minimum of 3,300 is needed and that is just a small percent of the interest. I said sure, go for it. I havent been socking away the mortgage payments- using it to pay other debt, but that amount I could afford. So she says "Let me go plug it in an see what comes out" The end result was a JOKE, and almost seemed more like forebearance. Adding the 33,000 to the principal, with a "substantial interest rate reduction" would only lower the payment by $200 a month. So, we wind up owing 33,000 MORE on a 297,000 balance that is already almost 100,000 underwater?????? She said "Right" I asked her if she could please approach the investors of our loan and see what other options they may have and she said " They have nothing to do with this process. We put the numbers in based on the financials you provided and it indicates you can afford to meet these terms" I asked her if she was sure, because after expenses, including mortgage payments, we only have 250.00 left. She repeated ver batim the above sentence. I asked her who the investor is- she wouldnt tell me, only said they have nothing to do with it. Then I asked her if I could have her extension number to which she replied " You have refused the terms of this offered loan modification so I am closing the file effective today, so you wil have no reason to contact me further" She also said Chase has nothing to do with anyof this either, WAMU is still an entity that services the loan.
Ok, now what? Sheriffs sale is now Jan 4 ( extended 30 days for loan mod process) My brother said to wait a bit and see if they come back to me, once the realize I really dont care if they take my house, and foreclosure is more imminent. In MN we have a 6 month redemption period.
It is as if no one even read the hardship letter I sent, explaining what we could comfortably afford. All the talk about mortgage companies not wanting our homes is a crock of you -know-what. These people are IDIOTS and are not interested in anything but themselves. Sad sad situation. I am considering a forensic loan document review to see if there is any TILA violations- we suspect there are, especially an inflated appraisal.
Advice? Who to try next? Should I try Chase Loss Mit?
I am now LOST......
Lisa | 
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