Complain about a product or service

Washington Mutual Home Equity Loans

Washington Mutual • WaMu Bank • WaMu Mortgage • Refinancings • Home Equity Loans • Construction Loans --- News • WaMu Seized, JPMorgan Chase Buys the Remains • WaMu Buys Providian • Class Action Filed

Blanca of Concord, CA January 23, 2009

Blanca of Concord CA (01/23/09)
WAMU took 21,000.00 from my Home Equity Loan. I filed an Affidavit within the bank in November 2008 and they said that my claim for reimbursement will not be honored because I reported the fraud more than 60 days of the statement date.

The bank has been charging interest since July 2007 to the current date. This issue is draining me physically and emotionally.

Robert of Berkeley, CA January 16, 2009

Robert of Berkeley CA (01/16/09)
Borrowed nothing; cost 500. I applied for a no-cost home equity line of credit, and never used it. A year and one-half later, I wanted to cancel it so that I could refinance a different mortgage. The standard cancellation fee with WaMu was 500. A very polite and knowledgeable supervisor in a Texas office, C. Bartz (if I got the name correct) told me that nothing could be done about it because it was a clause in the loan agreement. (Yes, it is there)

They will collect 500 anytime within three years in order to recovered their alleged expenses in extending the line of credit. This might be fair, but it was certainly not pointed out to me when applied for the so-called no-cost line of credit. Truth in advertising? Probably not.

Unexpected 500 expense for no money borrowed.

John of Winter Springs, FL January 4, 2009

John of Winter Springs FL (01/04/09)
When I opened my HELOC with Washington Mutual for 100,000, their computer could not handle six digits so they input the line for 99,999.99 and told me not to worry about it. I had not used the line at all and began getting threatening letters saying I owed them 0.01, thats right a penny. I called them and they again told me not to worry about it and apologized. The problem is that they reported it to the credit bureau and it is still showing as a delinquent payment.

I would like to enter this in a stupid bank contest.

To add insult to injury they lowered my HELOC from 100,000 to 10,700 in violation of Reg Z, The Truth in Lending Act, Reg B, The Fair Housing Act, and yes they used unfair and deceptive practices. They used a bogus fly by appraisal, which was almost 100,000 less than recent comparable sales in my small neighborhood within the previous two months. There is a reason why they went belly up and the new owner is no better.

Monica of Feremont, CA December 20, 2008

Monica of Feremont CA (12/20/08)
When I opened my statement to see how much I needed to pay on my equity line of credit.. I noticed that there were charges that I did not place on my account. I am 'mad,anger, disappointed' that someone did not pick up the fact that I rarely, if every use the credit card and now someone was charging gas to the card more 3 times a day for 20 days.

WHen I called to notify them, WaMu, that the card was stolen I was disconnected 3 times; so I went to the Bank. At the bank the rep was transfer 11 times with no sucess in trying to resolve or report the fraud that occured on my account. After an 1 1/2 hours at the bank I left to go pick up my daugther from school. I called Risk Management, who would not talk with me because I failed all of the security questions.. I guess I did not own houses in the correct location.

When I returned to the Bank, a Manager helped me and she was able to connect with someone after being transfer 2 times. She placed me on the phone with operator LLM and she said my case was noted then transferred me to a recording that disconnected me without telling me what to expect. The Manager of the Branch called back to clarify what was going to happened. My concerns is that my equity line is maxed out and they expect me to pay the overage charges,interest and my payment, within 5 days of my due date; otherwise it will get report on my credit report at being late..

Debra of Ellisville, MO October 15, 2008

Debra of Ellisville MO (10/15/08)
I have been using the Equity Exselerator Program with Washington Mutual. This is where my payments are made every two weeks and are automatically taken from my bank account. I have had many harrassing phone calls regarding payments not being made but have automatically been withdrawn from my checking account. I have had my escrow payments increase by 200.00 A MONTH and Late fees attached to my account even though payments are automatically done and the responsibility of Washington Mutual.

I would relay the problem to those individuals that called stating to them that the payment had already been removed from my account and that they should get organized because payment had been made. Late fees were incurred anyway by Washington Mutual

Extreme stress mentally and constant harrassment by Washington Mutual personnel. Due to the 200.00 a month increase in payments, i have not been able to buy my diabetes medicines which has caused a hospital stay due to severe high blood sugar. Which is caused and aggrevated by stress.

Report Your Experience
If you've had a bad experience -- or a good one -- with a consumer product or service, we'd like to hear about it. All complaints are reviewed by class action attorneys and are considered for publication on our site. Knowledge is power! Help spread the word. File your consumer report now.

Follow us on Twitter.

Back to the top |