Washington Mutual - WaMu - Chase Washington Mutual, Washington Mutual Bank WaMu/Chase's Loan Modification Program is forcing us (and how many others?) into foreclosure! Melbourne, Florida

I dont get it. You haven't paid your $2300 a month mortgage for 7 months. $16,000 behind on mortgage payments?  To get a forbearance you had to be behind before that. 

Seven months behind on mortgage payments trashed your credit rating and FICO. Once that is done, it takes time to repair before any lender will look twice at you. 

You should NOT be complaining about any bank that is still willing to give you a chance. 

Unfortunately you are going through the same thing that the majority of borrowers face when attempting self modification. Chase, WAMU, and affiliated lenders have a horrible reputation for lack of contact- I've only met one person who was actually denied, the rest I know that tried to self modify just never heard anything back. Oh, and did I mention that my friend that was denied had to wait over a year to hear that? It's horrific that these lenders are doing this to people but it's a fact.

I work for a Real Estate Law firm in North Palm Beach, so if you want advise or help getting out of foreclosure then please give me a call 561-840-0950 ext 225. I'm a parallegal here and will answer whatever questions need be. One thing I can tell you right now for sure is that 31% of your income has to be at or below your PITI (principal, interest, tax, insurance) and 55% of your monthly expenses has to be below your income. All income is based BEFORE taxes. To get out of foreclosure contact your lenders loss mitigation department and try and work out a forebearance agreement, make sure that everything is documented in writing. If the employee you are speakingwith will not release his/ her last name ask for an employee ID number, and if they won't provide that to you then let them know you will report them. Also, please avoid filling out information online regarding loan modification as 99% of those websites are lead sources for these modification companies that are just as much scum as the lenders are themselves, and if you do you'll have thousands of phone calls a day non stop! Best of luck to you!

I have been on this roller coaster with wamu, let me tell you how to get off the ride.  On the internet, look up executive phone numbers for wamu.  One of the numbers is the executive complaint phone number.  I applied for a forbearance in april 08 due to childbirth and losing my job at the same time.  I was given a 6 month forbearance.  I knew in October I should either have a modification or something of the sort.  I started calling in september, was told to fax my financial information.  I did, then waited.  and waited.  and waited.  I called every week, only to be told they would contact me.  October went by, November I started calling every other day.  I was told that my financial information was never received, to fax it again.  Mind you I was doing the faxing from my bank, and got a confirmation letter every time.  All in all, between september and december, I faxed my information 17 times to 4 different people.  In december, I received a letter that my house was going into foreclosure and it was due to non-compliance/failure to provide financial information!!  Needless to say, I was panicked.  I looked up the number on the internet that I told you about, and called.  The lady on the other end heard the whole story, gave me her name and extension, and said she would investigate and get back to me.  She did!!  Turns out my "contact" at wamu who was supposed to be modifying my mortgage changed 3 times due to "restructuring" departments.  A week later, my load was modified.  I had to pay 2000, with the remaining 3500 turned into a load for 15 years at 29 a month.  I was not happy, since the only reason for the 3500 was attorney fees for their slow response!  If they had modified the load in october like they were supposed to, I wouldn't have owed attorney fees due to another department failing to do their job.  The 29 dollar payments were due to start this month, but I have decided I'm not going to pay them and see what they do.  I really don't feel I owe this money since I did what I was supposed to do in a timely manner, they didn't do their job on their end and now I owe 3500 for them not doing their job?