Comments on: WAMU Borrowers Sue After Being Denied a Loan Modification

By: dale

dale — Tue, 07 Dec 2010 03:58:21 +0000

its dec 6,2010, after paying six months of trial payments with “chase what matters”, they eventually told us we are denied……luckily there’s a class action lawsuit with attorneys from Lanza and Goolsby, city of Irvine, in orange county CA. Hopefully this will help. I can’t believe this many Americans are going through this non sense with banks!!!

By: hector

hector — Fri, 11 Jun 2010 00:37:16 +0000

i have the same situation. but not with wamu.its with aurora. they denie me two time modification. because lack of income. and too much saving.

By: Debbie

Debbie — Tue, 13 Apr 2010 08:39:49 +0000

We have been trying to get a loan remodification for over a year, at last in June 09 we were told if we made 3 payments (which they of course decided upon) that they would then review the loan again and would lower our payments which is what we really needed. We also have fell victim like everyone else to the bad economy with our hours being cut and some health issues. We made the last payment in Aug. for Sept and we waited about 1 week and I called and they said they never got the last payment.I faxed a copy of the money order to them and they said that was not good enough they needed the original, which I mailed to them. I kept calling to find out what was going on, then the phone was answered JP Morgan Chase instead of Washington Mutual. No one at Chase ever received my money order, I have the name of the person I spoke with and the address they had me send it to, no one can help me. They will not accept a partial payment and they said since I did not take advantage of my loan modification I am not qualified to get another one, I have lost over $1100 for my last payment that no one can find, someone HELP

By: Vicky

Vicky — Wed, 07 Apr 2010 21:34:13 +0000

So I’m not the only one who has dealt with WAMU/Chase’s giant load of BS!?! I applied for a modification in March of 2009 prior to my 37 year old husband having major, life threatening lung surgery, trying to be responsible. Two days prior to his release from the U of W Medical Center, I find out I have to have a tumor removed from my liver…we were first told we would have an answer within 30 days, then they come back saying they needed us to fill out a different application due to government requirements. All the while, they only have two fax numbers for the mods and there are HOW MANY people trying to fax info?? Needless to say, I got the SOS as everyone else…they’re missing this document or that document…ones that we had faxed/mailed and had confirmed they had already received! We were told that since we were current (only because my RETIRED in-laws depleted their savings making OUR house payment to help us do the right thing) and not in “imminent danger of default” that it would take a bit longer. Might I add, we didn’t take out a 2nd on our home, nor did we take this loan using all of our equity, like WAMU was trying to talk us in to! I’m completely fed up with their BS, our 5 year fixed ARM is up in May of 2011 and I’m currently not working due to having a herniated disc in my neck with surgery scheduled for April 15, 2010 with an 8 week recovery time. My husband and I both work in the construction industry and we all know where the work has gone…I will be sure to make our camper payment first before our house payment because at least if all goes to hell in a handbasket, we will still have a roof over our heads! In my frustration, I’ve even gone so far as to write President Obama, voicing my concerns…HA! I’m sure that letter fell on deaf ears! All I have now are faith and prayers….

By: Jennifer

Jennifer — Tue, 06 Apr 2010 17:03:45 +0000

I’m glad that I’m not the only one that’s going through this with WAMU. I had put in a modification since July of last year to be turned down this month. What happens next and I want to be part of this class action suit. I hate thes MF***. I hope everyone gets a settlement from these people.

By: Ike in AZ

Ike in AZ — Wed, 02 Dec 2009 01:59:36 +0000

CORRECTION:”I put the monthly payments aside in the bank.” Credit Union..not bank.

By: Ike in AZ

Ike in AZ — Sun, 29 Nov 2009 15:48:10 +0000

I made a comment on here on September 1st, we have decided to walk away from our house. The house is too far underwater and Chase is the biggest joke ever. They keep giving us the run around and fax this and fax that. I don’t care if they modify our loan down to $100.00 a month. We don’t wnat to be a part of Chase or any other bank…just our credit unions. We already have started moving our stuff to California. My wife and I have made a promise to each other to never deal with a bank again at any level, only credit unions or nothing at all. Our decision to walk away was very easy thanks to Chase. I finally feel free and now I put the monthly payments aside in the bank. Some people go a year or so without paying a payment before they are foreclosed on. My sister has been in her house for two years and six months without making a payment. If you love your house, fight for it and do everything you can to stay in it. If your like us, and the house holds no value whats so ever…..your better off walking away. Don’t forget nothing is more important then your family’s happiness. It’s not that tough starting over somewhere else.

By: Lee

Lee — Thu, 12 Nov 2009 04:45:27 +0000

Well, we filed ch 7 earlier this year due to a huge drop in income. Thinking things would get better now that we don’t have the credit cards, I get laid off. So we gave up and decided that we would just let the house go too. But then WAMU/Chase offered us the “Modification”. We went from $2300 to $1300 and we’ve completed the three month trail period. Now the negotiator calls and asks me to get a letter from unemployment stating that I have another 9 months left of unemployment. I knew when she asked that getting such a letter would be impossible. Heck our state is almost bankrupt and there is no guaranty that unemployment will be around. I just don’t know what to do, I love my house and want to be here forever. I want to raise my kids here, I need some help some reassurance that everything is going to be okay. I need to know that all the work that I’ve put into this house was not in vain and that this will pass.

By: Rodney

Rodney — Sun, 08 Nov 2009 17:12:46 +0000

My brother and I tried to do a loan modification on our properties.
We both have WAMU / CHASE. my brother was denied because his income
was not struggling and he has never missed a payment. When I first
refinanced and got this option ARMs loan I was told that I could
make the minimum payment for the term of 40 years and the payments
would not go up, I would have only covered the interest and after that
the principle payments would continue. They also said since my credit
was excellent they could do a stated income and qualify me for a
higher loan so I could take cash out and make improvements to my home.
Now that I am in need of a modification I need to qualify
but without that stated income that got me into this mess.
I have missed payments due to hardship and my Option ARMs loan climbing.
I was in desperate need of a modification. Wamu put me through
a 3 month payment trial to see if I could make all my payments.
Then on the 4th month they asked me to continue my trial another month,
on the 5th month they asked me to continue again.
I finally called and asked if they could speed up the process because
my 3 months was turning into 6 months. I finally got a hold of the loss mitigation
and they told me that I was denied because I did not make enough money.
“I wish they could qualify me the same way they got me into this mess with
stated income which is known as the lie loan”.
My debt is now way above my income due to the Adjustable Rate and Stated income
no longer around. Now WAMU / CHASE is going to start a foreclosure if I do not
bring myself current with the payments I missed along with the
Option Arms adjustment payment that almost doubled.
I think this Options ARMs loan along with stated income was just a plan to
make all borrowers qualify high to get into a home but when the loan
adjust the borrower is guaranteed to fail due to not being able to use
the same stated income that got the borrower into the loan.
If the loans did not adjust and WAMU kept it at the minimum,
we all would still have are homes.

By: GINA

GINA — Sat, 31 Oct 2009 01:12:57 +0000

Wow, we went through Ike. Were told in September 2008, we could take 2 months off and place at the end of our loan, but no. They denied even saying that. Then the calls of your late started and now 1 year later….nothing. We have sent the papers 20 times, called every week, been turned over to so many people. But the real kicker is, we had a forebarence in Feb for 2 months and have not heard anything since. We call, don’t really no what our payments are since they have changed depending on who takes our call. We were even told not to pay anything while we wait for the modification to be accepted. we continued to make our payments and are only behind the 2 they said to take off. I have lost my job and my husband took a paycut at his. We are not sure what the future holds, but I am wondering is everyone got together and filed a class action lawsuit would that wake them up. they are killing families all over the USA, how can they get away with this. Any ideas?