Washington Mutual is the worst mortgage company in the US, and unfortunately I'm stick with them for 2 mortgage. They claim they will work with if you can't make a payment, but it is all lies. I spent hours filling out a deferment application and compiled 40 pages of documentation, as so that I could have my payment defered (skipped) for one month. First, it took them over 2 months to even look at my application, despite my repeated phone calls and faxes to them asking about the status. Then, after 2 months, I got a single letter in the mail stating that my application was denied because I was still current on my payments. I have heard that other mortgage companies do this too, but come on people, THIS MAKES NO SENSE! I was trying to be responsible and address my financial problems BEFORE iI became late or couldn't pay my mortgage anymore, and they simply didn't care.
Oh, and any time I called them, I would be transferred a million times, even though I had asked for a specific department. They are all morons there. All of them. I gave up and stopped paying my mortgage for a month and guess what, the calls and letters just came flooding in. Imagine that. They still weren't willing to work with me.
This just shows you why these banks and mortgage companies are going under and suffering so much. They will not work with anyone. They'd rather just have no payments for a year and then a damaged house to try to resell, than to work with someone on payments.
I will never finance through them - only did it the second time because I had no choice due to all the strict rules that came out over this past year and they were the only company will to finance with 0% down.
I'm a lawyer and have seen so many of my clients and friends in these situations, where the lender just will not work with them at all. If skipping one payment would let a homeowner catch up and then continue with timely payments, isn't that a lot better than letting it go into foreclosure, or having a person that is constantly behind in payments?
My first bad experience with them was 4 years ago when I just had my condo. I mailed in my payment - they never got it. I mailed a second payment via overnight express mail so I wouldn't be 30 days late. They claimed it was the wrong address, but then posted it to my account 5 days later, which, by that time, I'd already sent a 3rd payment. In the end, I was considered 30 days late, with a mark on my credit report, after sending payments 3 times. It was the dumbest thing I'd ever been through. And, at that time, I'd been a customer of theirs for 4 years with no late or missed payments and yet, no leniency to me.
They really suck. When they go under, I will throw a parade - please join me.