WASHINGTON MUTUAL MORTGAGE MESS: I-TEAM
For most of us, our home is the biggest investment we will ever make. So imagine how you would feel if you were threatened with losing it, through no fault of your own.
Outraged homeowners are accusing Washington Mutual of botching their accounts so badly, it is ruining their lives.
“Washington Mutual is marking up our credit, saying we don’t make our mortgage payments so we are consumed with worry that we built our dream home and may not ever get to move into it,” says Amber Brown.
Brown and husband Bo say their problems started when they sold their Lewisville home. Their mortgage company, Washington Mutual, changed the amount they owed to pay off the loan, then said it never received the money even though they had a copy of the wire transfer from the title company.
“We’ve dealt with complete and total incompetence from them,” says Bo Brown.
Brown says they got a letter from Washington Mutual after they contacted a lawyer assuring them the problems have been cleared up.
Adrienne Nesbitt says she almost lost her home because of Washington Mutual. Nesbitt says she always paid her mortgage with money orders sent by certified mail and she has all of the paperwork to prove it. Last summer, she says she started getting letters from a new mortgage company called Interbay. She says Washington Mutual told her to ignore them, that her account was still with Washington Mutual but Nesbitt’s account had been sold.
“They don’t have an account for me there. They didn’t credit my account. They didn’t forward the money to Interbay. Someone received it cause I have the proof right here,” says Nesbitt.
Nesbitt has hired a lawyer and is now suing Washington Mutual. “There are a whole bunch of legal claims that can be made, and have been made,” said attorney Jack Peacock of Gagnon and Peacock in Dallas, Texas (214-824-1414, attorneys@gagnonpeacock.net).
Washington Mutual would not talk on camera, but sent a written response saying the company expanded greatly last year and refinanced a record number of loans.
“We are deeply concerned any time customers have a less than positive experience with our company and work hard to resolve any issues. We have taken steps to ensure that our loan servicing operations meet the high expectations our customers have and we apologize any time we do not meet our customers expectations.”
A Washington Mutual representative says they cannot comment on ongoing litigation but says they have contacted the people in our story and are working to resolve their complaints.
A national class action lawsuit has been filed by the law firm Green and Jigarjian, LLP of San Francisco. For more information, email the firm at GJ@classcounsel.com
The Texas Attorney General’s office says it is not currently investigating Washington Mutual but complaints can be forwarded to the office by calling 512.463.2100.
The Office of Thrift Supervision regulates the banking industry. Complaints can be filed by contacting the office at www.ots.treas.gov.
If you have had a problem with Washington Mutual, you can email Becky.Oliver@usa.net or call her at 214.720-3255.
March 23, 2003
M
Flower Mound, Texas
U.S.A.
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