Washington Mutual is foreclosing on my home of 20 years after 2 years of pulling one stunt after another- "losing" payments, buying property insurance and trying to charge me for it when I already had insurance, paying property taxes before they were due when my mortgage was not set up for escrow, refusing payments because I woulsn;t pay late charges they claimed I owed... I have been hearing some really bad things about WaMu both from brokers trying to refinance my mortgage and from online research. Anyone else who has had this kind of trouble with a WaMu mortgage???
2007-03-17 02:28:27 · 4 answers · asked by northcountry57 3 in Business & Finance ➔ Renting & Real Estate
My mortgage was sold to WaMu shortly after my closing, but I haven't had any problems with them. Keep in mind they bought my existing loan so they did not originate the loan and had to abide by the terms of my original mortgage. I have heard that they as well as World Savings do do negative amortization loans and those are very bad for the consumer.
It is probably going to be difficult for you to refinance if you have late payments showing up on your existing loan, whether they are your fault or the bank, it doesn't matter because it still shows up as a late on your credit report and hurts you.
You could check the consumer site www.ripoffreport.com and see how many other people are having trouble. Sometimes class action suits arise out of posts on that site.
2007-03-17 04:03:53 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Get every shred of evidence you have against them and take it to a lawyer. WaMu is in ALOT of trouble right now. Now would be a good time to take all of these to a lawyer, preferably one who specializes in real estate. Try to get a broker to do a forclosure buyout. If you need help I can assist you. I work for a mortgage company and we do alot of forclosure buyouts. E-mail me if you would like some more information. Whatever you choose, good luck! I hope you can get enough against WaMu to save your house.
2007-03-17 02:54:32 · answer #2 · answered by Amber J 2 · 0⤊ 0⤋
The company is in financial trouble because of sub-prime lending practices.
Document all of your allegations as much as possible. You may have to hire an attorney. There may be grounds to charge WM for fraud in trying to take your property illegally.
2007-03-17 02:34:29 · answer #3 · answered by regerugged 7 · 0⤊ 0⤋
I bought a mortgage through a small mortgage company, and it was sold to country wide. So far it has been ok
2007-03-17 03:06:43 · answer #4 · answered by Anonymous · 0⤊ 0⤋