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Lori of West Monroe, LA May 8, 2008
In November 2007 my house payment jumped 1370.00 more a month. I spent December and January trying to find out why, no one knows. My house house gone into foreclosure and a sell date has been set for June 11th.
I have been faxing the same paperwork to countless fax numbers and spent hours repeating my name, address, phone and last 4 digits of my ss# to no avail. I still have no loan modification, no answer as to why my payment jumped so much a month. I have explained myself to tears and now in the next month will loose my home, and my 3 children and I will have no place to live.
George of Corona, CA April 26, 2008
Beware of Washington Mutual bank.When you send home mortgage's payment with different checking account. Wamu reps/teller they will throw it away or deliberate to hold it then record it later into their account and charge you with late fees.Meanwhile they use their accuse and blame on : lost/misplate or Post office mistake .I really need help to file a class action law suit.Anybody???
In number of time I've been question with all WaMu branches managers about my issues and they just ignore my issues.
Alex of San Jose, CA April 25, 2008
WAMU is refusing to sell a home to us based on our ethnis background as well as taking personal property in excess of 15,000.We have been denigrated, threatened and laughed at.We have tried to resolve this problem for over 3mos but to vo avail.We purchased a home from an individual who unbeknown to us had liens against the property by WAMU. Once we learned we had been ripped off we arttempted to repurchase the property from WAMU at fair market value (through an appraisal of a neutral source) the refused and asked for over 200,000 above the property value but offerred to sell to someone else at fair market value.
Reps for WAMU informed us that they would never sell to us an intimated we were the wrong shade.They kicked us out off the property with 1 day notice and refused to allow us to take our SS cards,pass- ports and the medication need for my children and myself as well as clothing wedding rings,computers and many other items including cash.
We are now homeless.Even worse, an employee in the Executive Office said to get over it and start new and that if someone in my family died we would have insurance to start over!!!We wrote to the top officials at WAMU,Kerry Killinger and Stephen Rotella and they refused to intervene or respond.When we called back we were told these persons agreed with the treatment we received and we should be glad we werent sued for wasting their time.
We have had real estate agents and mortgage bankers call so we could buy the property but when it was indicated we were the purchasers WAMU cut off all communication. While we have called WAMU in excess of 30 times to resolve this problem we have only receive 1 callback though we are promised a response within 48 business hours.Based on their treatment of us we have to assumed this is somehow ethnically based which is illegal;when we suggested this we were told to sue and see how far it goes and that they have been sued before and havent loss.....
We are homeless without medical care, prescribed medication and 98% of our personal property.The doctors feel that I may suffer another heart attack due to the stress ar posssibly a stroke.My children are constantly ill and missing school and my wife is considering a divorce or separation at best.While the financial strain may be intolerable at this point the mental stress on us is incalculable.
William of Clifton, NJ April 21, 2008
I am set to close in a few days, WAMU, after changing the terms of my mtg a few weeks ago, is now wasting time and delaying our closing. I have emails from the underwriter saying she had everything she needed and today, 4 days before everyone else is scheduled and ready, WAMU says there's a problem with the income. They have emailed our lawyer saying there's a problem with the income but YET, have NOT contacted ME to clarify/explain anything. i think I would be the person to ask about MY income.
At this point, after talking to my sister inlaw, a family friend in the mtg ind and my brother in law, an appraiser, it seems we may be victims of a BAIT & SWITCH.. Meaning, WAMU baited us with a PROMISE and COMMITMENT of 5.125% but NOW are scurrying around because THAT RATE does NOT EXIST!!! I am being told by EVERYONE that this rate hasn't existed in months. My lawyer is recommending we seek other lenders! WHY??? Why isn't he STRONGARMING them into the rate they promised us and the rate we signed for with NO POINTS??? Shouldn't my attorney being making WAMU aware of the RESPA & HUD LAWS??? And that by changing ANY part of what they promised and agreed to, they are opening themselves up to being sued for bait and switch????
I am at my wit's end.. It seems like NO ONE in the Realestate Business is ethical or looks out for the BUYER!! Everything's about money no matter WHO gets hurt... WAMU WILL be held accountable for turning my life into the turmoil that they have.
We have lost money for all inspections, surveys, legal fees... We have been through nothing but emotional turmoil since 4/10. I am physically and emotionally drained. I will not have any faith in the legal or real estate professions if this is ALLOWED to go on. I cannot believe there isn't more Federal Regulation of lending ins
Michelle of Poland, ME April 15, 2008
We just were served with papers of foreclosure on our mortgage after having the home under contract to sell for 5 months. WAMU was called for a payoff and decided that instead of giving us the payoff they would file for foreclosure. We were supposed to close on the home on April 11th and WAMU filed for foreclosure on April 11th. The government needs to enforce their new rules on these companies immediately.
Kim of Roxbury, NJ April 13, 2008
In january 2008 my husband and I went to WAMU for a mortgage for a home we were buying. We found the home we wanted to buy in February 2008 and Andie, our WAMU mortgage agent, locked in our rate at 5.1%. The terms of the mortgage we agreed to were that we would put 5% of the purchase price as a Down payment. These were Wamu's terms Our closing date was set for April 25, 2008 and everything was moving alone consistently and smoothly.
On April 10,2008, 15 days before we are scheduled to close on our home we receive a call from WAMU and Andie says this: While your house appraised for what you are offering, due to the declining market value of homes we are now going to require 10% of the purchase price to be put down on the house OR 5.75% rate... WHAT??? But we were locked in and the house was appraised at WHAT we offered??? How can you determine if it will deline in value or not.. They're changing the terms o my MORTGAGE because of their ASSUMPTIONS? This is 2 weeks before closing...
Then we begin to read of the events that took place at WAMU days before we were informed of these changes to our LOCKED IN RATE.. April 10, 2008: Last date to submit new applications or locks. May 31, 2008: All WaMu Wholesale Sales Centers will be closed by this date. June 13, 2008: Generally, all loans must be closed/funded by this date. We will, however, honor outstanding loan commitments with expiration dates after June 13, 2008 up until the expiration dates set forth in those commitments. June 30, 2008: All WaMu Wholesale loan fulfillment centers (LFCs) [San Diego, CA; Pleasanton, CA; Downers Grove, IL; and Jacksonville, FL] will be closed by this date. Current Pipeline: *Locked loans with an expiration date prior to June 13, 2008 may be extended per current policy provided the loan is closed/funded by June 13, 2008. *Effective April 8, 2008, a condition will be added to each new commitment which will supersede the normal expiration provision. *Floating loans must generally be locked, closed/funded by June 13, 2008. Again, they may only close and funded after June 13, 2008 if a loan commitment has already been issued and the commitment expires after June 13, 2008. *If a loan is locked with an expiration date past June 13, 2008, it will not be honored unless a loan commitment has been issued and the commitment expires after June 13, 2008. *We are unable to make any exceptions regarding the closed/funded date of June 13, 2008. Again, however, we will honor outstanding commitments with commitment expiration dates beyond June 13, 2008. WaMu will continue to originate loans through Consumer Direct and our Retail Lending channel.
HOW ironic is it that the date my WAMU mtg agent called was April 10? Then I see a news clip about how WAMU Raised 7 Billion on 4/7. I cannot believe that I now have to use this HORRIFIC company but at least I'll be able to refi with another lender in a year or so.. Whatever happened to LOCK IN RATES being contractual? It's also odd that SINCE we put an offer on our home We've RECEIVED nothing from WAMU about our Mtg. No Commitment, no loan agreements.. NOTHING. I am requesting tomorrow that they send me anything and EVERYTHING they have that is associated with our purchase. I am now beginning to think that our Loan Agent NEVER locked us in as she said... otherwise I don't know how the can renege on a CONTRACT!
2 weeks before our 4/25/08 closing date my husband and I were informed that WAMU changed the terms of the MTG we were Locked into and told us that instead of the 5% down that they said they required.. NOW, on 4/10/08, they will NEED 10% down or charge us 5.75% and points.....
Wamu closed a loan on my house without my authorization. They accepted documents that were obvious forgery. The signatures were drastically different. When I brought this to their attention they said there was nothing they could do because I had paid the loan off with another loan. I feel I had to. I was about to lose my house. I didn't find out about the wamu loan until my house was in foreclosure. Is there anything I can do?
The original loan was 100,000. All of that money was paid to 2 people. There was no balance on my house. It had been paid for cash! Now I have this huge balance and I'm about to lose the house again because I can't afford the payments.
Steve of Mission Viejo, CA March 10, 2008
We wanted to refinance our home in order to pull out enough equity for us to cover any moving or other expenses while we downsized to a smaller home and to help our daughter with her college expenses. We were told we had gotten a 6-month loan at 1% interest which would have made our monthly payment around 800 month. We were warned that we had to sell within 6 months or the loan would become prohibitively expensive. After things were approved, we waited around 2-3 weeks for the documents to be drawn up. Our agent, Mr. Wigley, brought all of the paperwork to our home along with a Notary. Mostly because we had done quite a bit of previous business with Mr. Wigley, we did not go over the documents. Mr. Wigley did not explain things page by page - nor did the Notary. During the signing process, Mr. Wigley kept assuring my wife that this was a great loan package and all we needed to do was pay the 800/month and sell our home within the 6 month time frame. Because we knew and trusted Mr. Wigley, WE DID NOT GIVE MORE THAN A CURSORY LOOK AT THE PAPERS which turned out to be a huge mistake! We were never informed of any changes to the loan, and we were never informed of any problems with the loan.
The initial Universal Residential Loan Application we received had Mr. Wigley's name as the interviewer. However, when we received the FINAL paperwork, Mr. Wigley's name had been replaced on that document with the name of the brother of the owner of Capital Funding Group. We have never met, nor have we ever spoken with, this individual. When we received our first monthly mortgage statement, the P&I payment was for more than 7,200 rather than the 800 promised payment. In addition, we had been told that Capital Funding would pay for six (6) months of Mortgage Insurance since our loan was so close to the 90% loan to value ratio. In looking at the loan documents we had signed, we also noticed that we had agreed to a 3% prepayment penalty if we sold out house with a year, and a 2% prepayment penalty if we sold withing 2 years, etc. HAD WE KNOWN, WE WOULD NEVER HAVE AGREED TO SUCH TERMS BECAUSE OUR PRIMARY REASON FOR REFINANCING WAS WANTING TO SELL OUR HOME AND DOWNSIZE!
While trying to find out what had happened I was informed by Mr. Wigley that his former employer had closed his business, and he was now working for a relative of the former owner. When Mr. Wigley started asking questions about the changes made to our loan, he was fired from the new company. We soon found out that either Capitol Funding didn't make the promised mortgage insurance payment, or WaMu incorrectly applied that money to our principal and interest rather than the impound account as our payments have skyrocketed. It's been extremely difficult to get access to any of the original paperwork as the former company is no longer in business, and WaMu (our lender) has also been of little help. WaMu has not let me see their records of what might have happened to this money; and as a result our monthly payment to our impound (escrow) account is more than 1,300. When I've tried to show WaMu they are double billing us for home owner's insurance, they tell me they had a shortage and needed to make it up by increasing our monthly payments. This shortage can not be verified in looking at my records. Mr. Wigley is willing to cooperate with anyone looking into this matter since he too was improperly treated (for example, his last two (2) paychecks have never been sent to him).
We will not be able to keep paying the minimum Neg-am payments of 4,500 a month. We have exhausted our savings, we have exhausted our daughter's college funds, and we have been paying the mortgage for the last few months with our credit cards.
Sharon L. Mcneely of Fairland, IN March 8, 2008
Originally we had 5 or 6 mortgages at the same time with WaMu. All were paid off years early except 1 with a current balance of 10,700. The payments are only 220 a month. We didn't risk our credit rating by skipping a 220 monthly payment when our average income is 200,000 generated by 24 rentals in Indianapolis. Last fall we began shopping for a first mortgage on our personal residence. We own a 420,000 home free and clear. A mortgage for 300,000 would pay off everything we owe saving 4,000 in monthly payments but we are being denied a first mortgage by lenders because we had a late payment in the last 12 months. That late payment was the one reported by WaMu.
I argued with WaMu until I was hoarse because I made that payment five days early. I can't produce a confirmation number, and they waited 33 days to call! Several loan officers and their supervisors have called WaMu, but they won't admit they might have made an error in processing the payment; and even though we have excellent credit history, it isn't good enough to take my word. I agreed to make the payment again, but the total was much higher than one monthly payment so I asked for a breakdown. In addition to the late payment I was also charged for the following month (not due for another 20 days) AND 15 for the late payment--and 15 for the advance payment for making payments (2) by phone. I was livid and made no bones about it. One 15 fee was dropped.
Now WaMu is the very first thing on our credit indicating a 30 days late payment, and it is the only one on a 30+ page credit report. As far as I know, it is the only one in 25 years. Those bums didn't call until the 33rd day so they could collect extra fees and unearned interest. How many others have been duped for a phone payment or lost check? Because of one late payment (a payment I made by phone five days before due but not processed), our credit score dropped to 680 from the first tier above 800 (800 according to Huntington Mutual). WaMu has falsely reported a late payment and wrecked our chance of getting a mortgage while the rates are low. Thank you.
Our credit score dropped to 680 (last time I checked) and we have been denied a first mortgage by several lenders because of a late payment in the last twelve months. Lenders have called WaMu, but they won't budge or admit they may have made a mistake processing my phone payment. The late payment they reported to the credit bureaus has kept us from getting a first mortgage to consolidate monthly payments and save thousands a month in payments and interest.
Vicki of Merritt Island, FL March 8, 2008
I have long been trying to have my deceased husband's name removed from my mortgage, but no one at Washington Mutual seems to have an address for their mortgage loan dept. All they can give are names of floating representatives who have no interest in resolving problems with existing loans because they get paid to spend their time making new loans. I have been given three different addresses to send death certificates, and none of them are valid. Because my payments come directly from my bank account, I don't have a current address. Is it possible that bank employees have no way to access addresses of their own offices that provide customer services?
I can tell you this, the representative at the office I went to in Merritt Island told me that the loan number wasn't right. As she kept typing on her computer, I thought she was straightening out the situation. She looked up about three minutes later and said, "Oh, you're still here?" I replied, "Yes, Ma'am, I'd like an accurate account number." She responded, "Ohhhh, just eliminate the first four numbers."
It looks like I'll have to re-mortgage just to resolve the issue, but it sure won't be with WAMU! If I want to sell my home or if I should die in an accident, my personal finances will be a mess because no one in this day and age of technology can give me a valid address.
David of Simi Valley, CA March 1, 2008
In early 2002-03, I was forced to file a Chapter 11. During the time before all this was occurring my mortgage company sold our mortgage. I don't have the specifics in front of me, but I still have a large folder with all the info. This occurred one last time when Washington Mutual acquired the mortgage. My wife sent payments to the lender before Washington Mutual for an entire year before I finally sold the house and the Chapter 11 was a done deal. My own attorney was telling me: Don't worry about the payments! Washington Mutual was still receiving the payments because I have the cancelled checks to prove that they were diverted over to them. But in the long run they claimed I never paid them for a year. And this became part of my Chapter 11.
They would not give me straight answers and directed my calls to out of state. They would not even give me a last name as to whom I was dealing with. Years went by, I sold the house and messed up my credit worse than it should have been. Upon filing taxes two years too late, I questioned Washington Mutual again on these mortgage payments as I felt I needed a refund. I thought I had actually got somewhere when a girl (and I have her full name on file) said she would look into it. A month later I received the interest form for tax filing purposes(INT 99?) with the dollar amount of the money they claimed I never paid marked down as interest paid for that year. I took what I could, as there was a cap on the maximum interest paid I could deduct. Not sure if I got what I deserved on this one? Payments totaled over 14,000 dollars .
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