Loan Modification

Loan Modification and deferred payment.

Washington Mutual did a deferred payment and never told me that all of the monies would be due after six months. In my understanding of something being deferred you would start again from the next payment. Well that never happen that want all of the money. Another issue I have with them is the Loan Modification program it takes them months and months to work with the customer. They are fast to call you every single day to get their payments but when you need help forget it. Washington Mutual wanted the government hand out and their hands were out for money. If people just sit back and do nothing about the companies just wanting to help themselves nothing will change in this world.

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I just experienced not only the worst service in my life with Chase/WAMU but the most corrupt as well. My mortgage has been held by WAMU for the last 10yrs and never once have we been late on a payment. May 2009 we submitted application to Chase/WAMU for loan modification as our income changed drastically and our expenses shot up like nobodies business. Every single week since May, we had to call them to find out the status of our application, and every week we were told, there are missing documents or outdated documents since the process was taking so long, which every week we were faxing, new payroll stubs, and monthly we were faxing new bank statements and then consistently told they had everything they needed...until the following week, then they would need all the same information send yet again. In the interim, we were receiving collection calls from them from Puerto Rico, the Dominican Republic and so forth (especially at night and on Sunday's)the worst part is.....we were not past due, we were in the grace period and they would NOT STOP, despite our requests.

3 weeks ago, we were told our file was in underwriting & would be receiving a letter in the mail, which we thought was a good sign. 2 weeks ago, we lost our only income. Still no letter, so yesterday we call, and were told that we were not approved that our gross income versus expenses were off by 1.5%. It was at that point, we asked what expenses are they factoring into their evaluation, as by our means of income to expense, we can barely put gas in the car. Chase told us they do not have to disclose the formula's which they use to determine their findings however the rude customer service rep, did make it very clear that general living expenses, school tuition, cost of health insurance and dependants ARE NOT TAKEN INTO CONSIDERATION!!!!!!!!!! and that we should try to reduce our spending habits!!! Are you kidding me? Then we told Chase, that I recently lost my job and our sole income is now gone and we need help!! It was right then and there we were told under those circumstances we have absolutely no eligibility to loan modification and we should just let them foreclose the home that I grew up in as a child and that I am raising my children in!!!!!!!!!!!!!! She also went on to say we can appeal their decision but the appeal process is long and their decisions are "in general not overturned"

So we are supposed to "expect the worst and pray for the best?" We have been long term good customers to them, and they give us no hope our outlet for assitance. What happened to the American dream? I can tell you it was squashed by the policitical and greedy ass mortgage and credit card companies who love to sell you but refuse to help you after they are done screwing with your life!!

HOW ARE THESE LOAN MODIFICATIONS SUPPOSED TO HELP IF YOU CANNOT GET APPROVED OR ASSISTANCE|!! CHASE/WAMU IS THE ABSOLUTELY WORST COMPANY AND OBAMA SHOULD HAVE THEM ON THE TOP OF HIS PRIORITY LIST TO PUT OUT OF BUSINESS!!