Challenge with Wamu - looking for help

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Permalink Reply by Cathy McAlister on September 14, 2009 at 3:24pm

Wamu Update. Finally 90 days in and we do have someone assigned. First has been approved since beginning of August - this Wamu/Chase is a 2nd. Just got word that they are asking an additional 20K on top of the 3k allowed from first. Here is the newest twist - Wamu/chase says they are no longer accepting notes. Anyone else running into this?
Will keep you informed as this develops.

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Permalink Reply by Wendy Rulnick on September 15, 2009 at 3:01pm

I am using this number, Cathy 866-926-8937

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Permalink Reply by Lupe Soto on September 21, 2009 at 4:51pm

HI, Cathy, do you have a better number for Wamu Equity line, I was given 800-544-9635, then option 0, then option 2, option 3, option 3. and I get disconnected. I already submitted package. unable to follow up. If you have a better phone# to follow up. pls share with me. thank you. Lupe

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Permalink Reply by Cathy McAlister on September 22, 2009 at 2:40am

We are still working on this one. We do have a negotiator - she seems knowledgeable just overworked. Came at us verbally with a 20K request and NO note. We went back with 3K on top of the 3K that the first will provide for a total of 6K. We had the HUD prepared to reflect that BEFORE we send our offer back.

Here was an unusual part - they asked to speak directly to the seller. I have not had that situation before. Not sure why they needed my/seller permission as the collections department calls them every day. Anyway...while it was emotionally disconcerting for the seller - it did seem to have WaMu back off the 20K and she was submitting to mgmt for approval of the 6K. She did not sound overly positive. My hope is that they will come back with something close.

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Permalink Reply by Dianne Hicks on October 15, 2009 at 5:02pm

Did you get anything back yet? Having same issues.

Cathy McAlister said:

We are still working on this one. We do have a negotiator - she seems knowledgeable just overworked. Came at us verbally with a 20K request and NO note. We went back with 3K on top of the 3K that the first will provide for a total of 6K. We had the HUD prepared to reflect that BEFORE we send our offer back.

Here was an unusual part - they asked to speak directly to the seller. I have not had that situation before. Not sure why they needed my/seller permission as the collections department calls them every day. Anyway...while it was emotionally disconcerting for the seller - it did seem to have WaMu back off the 20K and she was submitting to mgmt for approval of the 6K. She did not sound overly positive. My hope is that they will come back with something close.

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Permalink Reply by John Treadwell on January 10, 2010 at 1:26pm

He is a way I have got these banks with charges -offs that can;t be found. I have title send a demand letter for a release of lien, telling it is about to close. twice now they seem to find where it is? Once they almost sent the release on a 2nd for 80,000. They kept telling it had a zero balance.
I see more of them where right in the middle of the NEG. they sell off the 2nd loan and I have to go on a search for who is the company with the charge-off. if your lucky it's within the lenders bank, if not and a collection compay gets it then it's a draw on which one you get and how easy they are to work with ?
They play like the norm 3000.00 for the 2nd is ok ,then at closing want a promise note for a balance.
US Bank now twice has 3 days after closing called the seller back and ask how there are going to pay the balance.

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Permalink Reply by Ben Benita on March 9, 2010 at 10:04pm

for any WAMU issues, use - executive.office@chase.com, 800-242-7399 ext51714 - -EXECUTIVE OFFICE FOR CORPORATE
800/225-5497 -- number for executive offices, answers as JP Morgan/Chase, can call here for WAMU as well. Once you call, they assign you a rep. to follow through....THEY ARE EXCELLENT

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