We are one of the homeowners who have a negative amortization mortgage. Our mortgage payment had increased and will increase again next year. Not to mention the fact that our balance is balooning.
We have gone thru credit counselling and taken the necessary step to do a loan modification so we can keep our home. This is our primary home and we will do our best to keep it. But with the rising balance & economy things are getting harder.
We were advise by the credit counsellors to apply for a loan modification to avert late payments, or not being able to afford the mortgage. We started the process on July 7. Wamu received our complete paperwork on July 23.
On July 31 when I called Wamu's rep said that it is being researched and will take about 15 days to be assigned to a negotiator.
On August 17 I was told that my case is "being escalated"
On August 28 when I followed up my case that has been escalated I was told that no negotiator is assigned and they will "research" my case.
On Sept 5 the rep I spoke with said that she will send an email to follow up on my case.
On Sept 15, rep I spoke with said it will take about 30 to 60 days for an application to be processed and assigned to a negotiator, mine is almost on it's 60th day. I should be getting a call soon. My application is still pending w/ Brian Gray waiting to be assigned to a negotiator.
On Sept 25, irate and upset I demanded to speak to a Supervisor and the repl I spoke with said that there is no Supervisor and she will make sure that my case is "researched" and she will send an "e-mail" to "escalate" my application. She even gave me a confirmation no.
Oct 1, I called and tried to give my confirmation no. The rep I was speaking with didnt know where the confirmation no came from. She doesnt even know how I got to get a "confirmation no". Again I didnt go anywere.
In the meantime my mortage balance continue to increase $1,000/month.
Oct 4, Inspite of all my pleadings and numerous request to expedite the process of my loan modification. To be assigned to a particular negotiator. The rep I spoke with just kept apologizing about the "delay". He even promised to call me on Monday to update me on my application.
Oct 6, No call from Washington Mutual
I have tried again and again to get my mortgage modified to ensure that I will still be able to afford my monthly payments. But I am not getting any help from Washington Mutual. On top of the lack of help, they continue to lie and give false hopes. Wamu had sat on my application for 3 months now. No action, no calls or any effort or alternative for me to be able to save my house from eminent foreclosure!
San Diego, California