Cory
San Antonio,#2Consumer Comment
Sun, October 22, 2006
First you requested wamu delay five months of payments, until the end of your pregnancy. So, that I could return to work... and resume my financial responsibilites". Then, based on your attorney's advice, you did not make a payment for THIRTY NINE MONTHS. What happened to the five months? What happened to "my financial responsibilites"? What did you expect to happen after not making payments for THIRTY NINE MONTHS? "WAMU kept sending me notices that they would foreclose...." "They never called me or visited me". They kept sending you notices. What did you want them to do? Show up with flowers? I think you got some bad advice from your attorney. You've had a string of bad luck. I wish you and your child well.
Thom
Albion,#3UPDATE Employee
Sat, October 21, 2006
The misnomer here is that banks want to foreclose on your home, which is simply untrue. It sounds as if your attorney is the one who deceived the homeowner, not Wamu. I used to have to prepare the documentation for homes that were being foreclosed upon and as a parent of two children and having lived paycheck to paycheck for years I couldn't continue in the position because I was having nightmares about all these kids losing their homes. I asked for a transfer to another department and I was moved to mortgage collections and then loss mitigation so I could prevent people from losing homes. From the little I know about your scenario it doesn't appear Wamu violated any laws. A pamphlet outlining the options for preventing a foreclosure was undoubtedly sent within the prescribed timeframe. The worst thing anyone can do in a situation such as this is to panic and ignore correspondence. There is also no reason to pay money to an attorney when the mortgage company can use those funds as a down payment on a loan modification or other forbearance plan. The only time an attorney should be brought in is if there is a need for a Chapter 13 repayment plan. That being said, another huge obstacle the homeowner faced was the business friendly i.e ruthless foreclosure laws in Texas. Anyone that has had to deal with Texas foreclosures will tell you that Texas has the worst laws in the nation with regard to foreclosure timeframes for filing etc. The defamation and harsh language on her court papers, credit reports etc. is standard legalese and by no means meant to be taken personally.
Carol
Jacksonville,#4UPDATE EX-employee responds
Mon, October 02, 2006
In order to qualify for a loan modification, you must provide a documented ability to pay the payments after the modification. And, you must have partial funds as a down payment on the modification. Mortgage investors, especially HUD/FHA, do not just add payments to the end of any loan. It appears that WaMu was working with you, because Texas is a power of sale state and it is probably the easiest state in the union to complete a foreclosure. You state you did not make a mortgage payment for over 39 months. Yet, WaMu was required by the investor of your loan (HUD), to remit payments of principal and interest to them every month. No mortgage company wants a foreclosure because it is costly to them because they will not be able to recoup the legal funds, etc. they have spent during your case. You may want to use the payment funds your attorney had you put in escrow and find a lease to own property that can be financed by the seller.
Karen
Perry Hall,#5Consumer Comment
Sun, August 06, 2006
I understand exactly what you are talking about. I became disabled and wasnt able to work and they wouldn't work with me either.I begged and pleaded and they were rude when I was able to talk with them and ignorant to ignore my requests. This company is very bad and I will never do business with them again no matter how big they are. Read my posting about insurance ripoff. You will see this company has screwed me to. Much luck. Karen