Comments on: WAMU Borrowers Sue After Being Denied a Loan Modification http://loanworkout.org/2008/08/wamu-borrowers-sue-after-being-denied-a-loan-modification/ Loan Modification & Home Loan News Sat, 20 Mar 2010 15:31:56 -0700 http://wordpress.org/?v=2.9.2 hourly 1 By: Ike in AZ http://loanworkout.org/2008/08/wamu-borrowers-sue-after-being-denied-a-loan-modification/#comment-18277 Ike in AZ Wed, 02 Dec 2009 01:59:36 +0000 http://loanworkout.org/?p=674#comment-18277 CORRECTION:"I put the monthly payments aside in the bank." Credit Union..not bank. CORRECTION:”I put the monthly payments aside in the bank.” Credit Union..not bank.

]]> By: Ike in AZ http://loanworkout.org/2008/08/wamu-borrowers-sue-after-being-denied-a-loan-modification/#comment-18227 Ike in AZ Sun, 29 Nov 2009 15:48:10 +0000 http://loanworkout.org/?p=674#comment-18227 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. 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 http://loanworkout.org/2008/08/wamu-borrowers-sue-after-being-denied-a-loan-modification/#comment-17983 Lee Thu, 12 Nov 2009 04:45:27 +0000 http://loanworkout.org/?p=674#comment-17983 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. 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 http://loanworkout.org/2008/08/wamu-borrowers-sue-after-being-denied-a-loan-modification/#comment-17937 Rodney Sun, 08 Nov 2009 17:12:46 +0000 http://loanworkout.org/?p=674#comment-17937 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. 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 http://loanworkout.org/2008/08/wamu-borrowers-sue-after-being-denied-a-loan-modification/#comment-17820 GINA Sat, 31 Oct 2009 01:12:57 +0000 http://loanworkout.org/?p=674#comment-17820 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? 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?

]]> By: cary sontag http://loanworkout.org/2008/08/wamu-borrowers-sue-after-being-denied-a-loan-modification/#comment-17532 cary sontag Tue, 20 Oct 2009 11:51:51 +0000 http://loanworkout.org/?p=674#comment-17532 The banks are the crooks The banks are the crooks

]]> By: JOSE,CA http://loanworkout.org/2008/08/wamu-borrowers-sue-after-being-denied-a-loan-modification/#comment-17517 JOSE,CA Mon, 19 Oct 2009 23:06:12 +0000 http://loanworkout.org/?p=674#comment-17517 WoW, so im not the onlyone who has Wamu issues.Well un-like some of you i got a law firm(PARSA) to represent my case with Wamu.I was on that Forbearance plan with Wamu before the Obama plan took action.I went thru the 3 month payment period of $1,200.00.I thought i was gonna get my loan mod fixed after that,but No.....Wamu saw i qualifyed for the Obama plan so we started the hole process all over again.Now i was on the same Forbearance plan for 3months with a payment of $1500.during this hole ordeal i kept on getting letters from Wamu that my house was going into Foreclosure. I was told to expect that.Then after about the 2 month of paying$1500 I get a guy at my property looking suspicious and my wife ask's him if she could help him.He tells her hes taking a look at my house because his company is thinking about buying it that same day at a Foreclosure Auction.My wife was like what!!! so she get on the phone with the law firm we hired (Parsa) and ask our rep what the heck is going on.Did we do something wrong for Wamu to sell the house?So Now (they tell us Wamu mest up and that my house was not suppose to be sold.This is where it gets really ,really F-up .My represntaion (Parsa) start to tell me that they cant get thru Wamu.Now im here waiting to hear from Wamu or the lawfirm (Parsa) and i get no calls or nothing.I call Wamu and like the rest of you they put me thrue a number of representatives telling me to leave a msg.Now i call (Parsa) and they dont take anymore phone calls or in person app.What am i to do now...?All is what am i to do know that both Wamu and Parsa are both playing that hard to reach bull crap.If anyone has any kind of idea please help me out.All thoughts and advice is welcome WoW, so im not the onlyone who has Wamu issues.Well un-like some of you i got a law firm(PARSA) to represent my case with Wamu.I was on that Forbearance plan with Wamu before the Obama plan took action.I went thru the 3 month payment period of $1,200.00.I thought i was gonna get my loan mod fixed after that,but No…..Wamu saw i qualifyed for the Obama plan so we started the hole process all over again.Now i was on the same Forbearance plan for 3months with a payment of $1500.during this hole ordeal i kept on getting letters from Wamu that my house was going into Foreclosure. I was told to expect that.Then after about the 2 month of paying$1500 I get a guy at my property looking suspicious and my wife ask’s him if she could help him.He tells her hes taking a look at my house because his company is thinking about buying it that same day at a Foreclosure Auction.My wife was like what!!! so she get on the phone with the law firm we hired (Parsa) and ask our rep what the heck is going on.Did we do something wrong for Wamu to sell the house?So Now (they tell us Wamu mest up and that my house was not suppose to be sold.This is where it gets really ,really F-up .My represntaion (Parsa) start to tell me that they cant get thru Wamu.Now im here waiting to hear from Wamu or the lawfirm (Parsa) and i get no calls or nothing.I call Wamu and like the rest of you they put me thrue a number of representatives telling me to leave a msg.Now i call (Parsa) and they dont take anymore phone calls or in person app.What am i to do now…?All is what am i to do know that both Wamu and Parsa are both playing that hard to reach bull crap.If anyone has any kind of idea please help me out.All thoughts and advice is welcome

]]> By: Subership http://loanworkout.org/2008/08/wamu-borrowers-sue-after-being-denied-a-loan-modification/#comment-17451 Subership Thu, 15 Oct 2009 10:38:36 +0000 http://loanworkout.org/?p=674#comment-17451 It seems there should be some legal remedy. I can tell the same story, and I only missed one payment and am still paying. They turned me over to Freddie Mac who called and said I needed to get a loan modification, that according to their calculations I qualified. But, previous communication with WaMu was that I didn't. And, when I followed Freddie Mac's suggestions, I repeatedly got a "duh, what?" response. I have also noted what seemed to be an Asian Accent, with the inability to understand questions I asked. These questions were met with silence. It has occurred to me, that maybe some of the telephone jobs are outsourced to China! It seems there should be some legal remedy. I can tell the same story, and I only missed one payment and am still paying. They turned me over to Freddie Mac who called and said I needed to get a loan modification, that according to their calculations I qualified. But, previous communication with WaMu was that I didn’t. And, when I followed Freddie Mac’s suggestions, I repeatedly got a “duh, what?” response. I have also noted what seemed to be an Asian Accent, with the inability to understand questions I asked. These questions were met with silence. It has occurred to me, that maybe some of the telephone jobs are outsourced to China!

]]> By: SND http://loanworkout.org/2008/08/wamu-borrowers-sue-after-being-denied-a-loan-modification/#comment-17450 SND Thu, 15 Oct 2009 03:36:04 +0000 http://loanworkout.org/?p=674#comment-17450 My mortgage is with Chase and I want to file a lawsuit in Florida. Please email me on how you secured a lawyer that you felt comfortable. I am currently writting OCC to see if there is any violations. Please email info and mark hi alert. Chase was not working with me on my loan modification. And after 6 months they denied my modification. My mortgage is with Chase and I want to file a lawsuit in Florida. Please email me on how you secured a lawyer that you felt comfortable. I am currently writting OCC to see if there is any violations.

Please email info and mark hi alert.

Chase was not working with me on my loan modification. And after 6 months they denied my modification.

]]> By: John http://loanworkout.org/2008/08/wamu-borrowers-sue-after-being-denied-a-loan-modification/#comment-17443 John Wed, 14 Oct 2009 16:23:47 +0000 http://loanworkout.org/?p=674#comment-17443 I have been dealing with WAMU since April 2007 to help me modify the 2 loans I have with them. I lost my high paying job since the national title company closed their operation. Since the beginning I have been told to fill out miles of paperwork and either fax or mail them in since I did qualify. In every case I was denied and was tricked by WAMU to make more payments. In 2008 and 2009 several of their employees told me that I had to be late for at least 2 months in order to get the mod approved. So I did that and was told to fax in another set of paperwork which I did and was denied about 30 days later because we earn too much money!! So recently I get a letter offering me a great deal to refi my loans with no costs or qualifying! This came from Chase ~ After getting our hopes up the Chase loan rep told me that since we had 2 mortgage late pays that we do not qualify. SO NOW MY CREDIT IS SCREWED THANKS TO WAMU/CHASE! My family home that we love so much is now in question with having 2 adjustable mortgages with the worst bank on the globe. I hope someone reads this and together we can launch a class action law suit against WAMU/CHASE for their illegal business practices! I have been dealing with WAMU since April 2007 to help me modify the 2 loans I have with them. I lost my high paying job since the national title company closed their operation. Since the beginning I have been told to fill out miles of paperwork and either fax or mail them in since I did qualify. In every case I was denied and was tricked by WAMU to make more payments. In 2008 and 2009 several of their employees told me that I had to be late for at least 2 months in order to get the mod approved. So I did that and was told to fax in another set of paperwork which I did and was denied about 30 days later because we earn too much money!!
So recently I get a letter offering me a great deal to refi my loans with no costs or qualifying! This came from Chase ~ After getting our hopes up the Chase loan rep told me that since we had 2 mortgage late pays that we do not qualify. SO NOW MY CREDIT IS SCREWED THANKS TO WAMU/CHASE! My family home that we love so much is now in question with having 2 adjustable mortgages with the worst bank on the globe. I hope someone reads this and together we can launch a class action law suit against WAMU/CHASE for their illegal business practices!

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