Shane Randall representing Washing Mutual Contacted my husband about saving us money and interest in our refinance. He said that our payment would be lower than it currently is and that the payment would be going towards interest and principal. He said that there would be a one time modification fee of $595.00 to be billed to our Credit Card which he took the information for. When the papers came in the mail, I signed them (loan is in my name) and sent them in. When we received the new bill the payment amount was at least $1,000 higher than expected and the modification fee was on this bill also. We payed it for the first several months thinking that the payment was more because it was going towards principal also. My husband and I were upset but we figure it is what it is. Then I decided to call and noticed on the next bill that the itemization on the bills were not tallying any principal. I called WAMU Customer Service to verify this information. They confirmed that it is going to interest only and that we are locked into it until 2012, unless we refinance and pay another modification fee. I then called Shane Randall, with no response. I researched and found his supervisors name and phone number, Brenda Brown (904) 732-8712. I called and left her 6 messages. Then I called every 800, 866 number I could find. Nobody would help me. They said I needed to speak with Brenda. Since then we have made the payments, so that they won't put any disparaging remarks on my credit. Still have not received one return call except from customer service requesting our payment to be made. After we make the payment, all of a sudden no one at Wamu has time to talk to us anymore and they can have someone return our call.
Currently we will be getting a new loan from Citibank and I'm sure Wamu is going to charge us a huge pre-payment penalty (of course they will).
WAMU is the tackiest, most unreliable, unprofessional banking system that I have ever dealt with.