Equity Home Loans

who should i go with for a home loan washington mutual,wells fargo or countrywide loans?

Washington Mutual Home Mortgage...? I have a 30 year home loan with washington mutual... What will happen?

Washington Mutual for first home loan? I bank with Washington Mutual. Is this where I should go for my first home purchase? Should I give a second look to a broker or alternate lender?

im going to apply for a home loan should i go with wells farg,countrywide loans,quicken loans or washington mu or washington mutual

Will WAMU really refinance your home with no closing cost or is that a lie? I'm a loan officer and lately I've heard that Washington Mutual will do your home loan with no closing cost and the will use your old appraisal. Is this true or are there closing cost when it's all said and done?

washington mutual bank? with wamu in crisis and there stock dropping 80% ( not to mention laying off 3,000 employees and closing home loan centers across the U.S.) do you think that the bank can pull itself out of financial crisis... do you think that other banks such as BoA and Wachovia have something to worry about?? i am getting nervous about our banking systems and i just want to see other opinions

Refinancing our home. WHo do we go to? We are going to refinance our home. The home is worth 500,000. There is only a 50,000 first mortgage on the home. We want to refinance for 175,000, paying off the first mortgage. My questions are. 1. Who do we approach first. Is it better to go to a mortgage broker, or our bank. 2. What things do we need to look out for. We want a 30 year fixed (we think). We plan on staying here. 3. Do all loans allow you to pay extra principle payments without penalties. 4. What about Ditech.com, and all those other advertisers. We bank with washington mutual. Thanks in advance. We have never done this and are freaked out.

WaMu Execs change details to get 300% bonus!!!? Washington Mutual has changed criteria so their execs can get a 300% bonus this year while 60% of WaMu home loans have declared or close to declaring Bankruptcy. Anyone find this garbage astounding? Their sticking it to the people while their CEO's are protected no matter what.

I have 6 potentially negative items on my credit. How should I clear this up? I just turned 24 years old Thursday and I realize I am getting older and need to establish credit. I have never had a major credit card / department store cards or any type of loans. All my debts are from things such as Sprint pcs, Bellsouth, Gas Bill, Direct Tv and a closed Washington Mutual account. The debt on each are around $300. I have been getting letters from collectors since 2004 and have not responded to any of them. Now that I have come to my sences I am ready to grow up and become a responsible adult. What is the best way to go about cleaning my credit so I can one day buy a car or home with no problem. Is my credit Bad ? How long will it take to get good credit ? Can I purschase a Home in 1 year if I start now ?

Can somebody please take a look at this title history to a home and help me understand the following...? Here is the link: http://www.scalesandrhythm.com/snr/TitleHistory.html I was told that a house I may be interested in buying is in danger of forclosure and is currently being held by the bank. I am trying to understand where the forclosure info is coming from as per my realtor. I dont see a bank, unless M.K. Investments is the one holding the lien on the property. It appears that when you scroll down the PDF that BLAZER CONSUMER DISCOUNT CO WASHINGTON MUTUAL FINANCE were the grantors to M.K. Investments in 2003 for 27,900. Then M.K. Investments held the property somehow at the purcahse price of $1. Then M.K. Investments granted the money to purchase the property to Mr. Goode for 69,900. If I am correct, which I very well might NOT be then M.K. Investments bought the property for 27,900 in 2003/2005, held the loan for 69,900 on the Good family in 2005 and still holds the loan. Does this sound accurate?

Is "ALL WELL" with the banking system? I think not? Your thoughts? 1. Paulson appears on Face The Nation and says "Our banking system is a safe and a sound one." If the banking system was safe and sound, everyone would know it (or at least think it). There would be no need to say it. 2. Paulson says the list of troubled banks "is a very manageable situation". The reality is there are 90 banks on the list of problem banks. Indymac was not one of them until a month before it collapsed. How many other banks will magically appear on the list a month before they collapse? 3. In a Northern Rock moment, depositors at Indymac pull out their cash. Police had to be called in to ensure order. 4. Washington Mutual (WM), another troubled bank, refused to honor Indymac cashier's checks. The irony is it makes no sense for customers to pull insured deposits out of Indymac after it went into receivership. The second irony is the last place one would want to put those funds would be Washington Mutual. Eventually Washington Mutual decided it would take those checks but with an 8 week hold. Will Washington Mutual even be around 8 weeks from now? 5. Paulson asked for "Congressional authority to buy unlimited stakes in and lend to Fannie Mae (FNM) and Freddie Mac (FRE)" just days after he said "Financial Institutions Must Be Allowed To Fail". Obviously Paulson is reporting from the 5th dimension. In some alternate universe, his statements just might make sense. 6. Former Fed Governor William Poole says "Fannie Mae, Freddie Losses Makes Them Insolvent". 7. Paulson says Fannie Mae and Freddie Mac are "essential" because they represent the only "functioning" part of the home loan market. The firms own or guarantee about half of the $12 trillion in U.S. mortgages. Is it possible to have a sound banking system when the only "functioning" part of the mortgage market is insolvent? 8. Bernanke testified before Congress on monetary policy but did not comment on either money supply or interest rates. The word "money" did not appear at all in his testimony. The only time "interest rate" appeared in his testimony was in relation to consumer credit card rates. How can you have any reasonable economic policy when the Fed chairman is scared half to death to discuss interest rates and money supply? 9. The SEC issued a protective order to protect those most responsible for naked short selling. As long as the investment banks and brokers were making money engaging in naked shorting of stocks, there was no problem. However, when the bears began using the tactic against the big financials, it became time to selectively enforce the existing regulation. 10. The Fed takes emergency actions twice during options expirations week in regards to the discount window and rate cuts. 11. The SEC takes emergency action during options expirations week regarding short sales. 12. The Fed has implemented an alphabet soup of pawn shop lending facilities whereby the Fed accepts garbage as collateral in exchange for treasuries. Those new Fed lending facilities are called the Term Auction Facility (TAF), the Term Security Lending Facility (TSLF), and the Primary Dealer Credit Facility (PDCF). 13. Citigroup (C), Lehman (LEH), Morgan Stanley(MS), Goldman Sachs (GS) and Merrill Lynch (MER) all have a huge percentage of level 3 assets. Level 3 assets are commonly known as "marked to fantasy" assets. In other words, the value of those assets is significantly if not ridiculously overvalued in comparison to what those assets would fetch on the open market. It is debatable if any of the above firms survive in their present form. Some may not survive in any form. 14. Bernanke openly solicits private equity firms to invest in banks. Is this even close to a remotely normal action for Fed chairman to take? 15. Bear Stearns was taken over by JPMorgan (JPM) days after insuring investors it had plenty of capital. Fears are high that Lehman will suffer the same fate. Worse yet, the Fed had to guarantee the shotgun marriage between Bear Stearns and JP Morgan by providing as much as $30 billion in capital. JPMorgan is responsible for only the first 1/2 billion. Taxpayers are on the hook for all the rest. Was this a legal action for the Fed to take? Does the Fed care? 16. Citigroup needed a cash injection from Abu Dhabi and a second one elsewhere. Then after announcing it would not need more capital is raising still more. The latest news is Citigroup will sell $500 billion in assets. To who? At what price? 17. Merrill Lynch raised $6.6 billion in capital from Kuwait Mizuho, announced it did not need to raise more capital, then raised more capital a few week later. 18. Morgan Stanley sold a 9.9% equity stake to China International Corp. CEO John Mack compensated by not taking his bonus. How generous. Morgan Stanley fell from $72 to $37. Did CEO John Mack deserve a paycheck at all? 19. Bank of America (BAC) agreed to take over Countywide Financial (CFC) and twice announced Countrywide will add profits to B of A. Inquiring minds were asking "How the hell can Countrywide add to Bank of America earnings?" Here's how. Bank of America just announced it will not guarantee $38.1 billion in Countrywide debt. Questions over "Fraudulent Conveyance" are now surfacing. 20. Washington Mutual agreed to a death spiral cash infusion of $7 billion accepting an offer at $8.75 when the stock was over $13 at the time. Washington Mutual has since fallen in waterfall fashion from $40 and is now trading near $5.00 after a huge rally. 21. Shares of Ambac (ABK) fell from $90 to $2.50. Shares of MBIA (MBI) fell from $70 to $5. Sadly, the top three rating agencies kept their rating on the pair at AAA nearly all the way down. No one can believe anything the government sponsored rating agencies say. 22. In a panic set of moves, the Fed slashed interest rates from 5.25% to 2%. This was the fastest, steepest drop on record. Ironically, the Fed chairman spoke of inflation concerns the entire drop down. Bernanke clearly cannot tell the truth. He does not have to. Actions speak louder than words. 23. FDIC Chairman Sheila Bair said the FDIC is looking for ways to shore up its depleted deposit fund, including charging higher premiums on riskier brokered deposits. 24. There is roughly $6.84 Trillion in bank deposits. $2.60 Trillion of that is uninsured. There is only $53 billion in FDIC insurance to cover $6.84 Trillion in bank deposits. Indymac will eat up roughly $8 billion of that. 25. Of the $6.84 Trillion in bank deposits, the total cash on hand at banks is a mere $273.7 Billion. Where is the rest of the loot? The answer is in off balance sheet SIVs, imploding commercial real estate deals, Alt-A liar loans, Fannie Mae and Freddie Mac bonds, toggle bonds where debt is amazingly paid back with more debt, and all sorts of other silly (and arguably fraudulent) financial wizardry schemes that have bank and brokerage firms leveraged at 30-1 or more. Those loans cannot be paid back. What cannot be paid back will be defaulted on. If you did not know it before, you do now. The entire US banking system is insolvent. I have my garden, well stocked pantry sheld, outdoor stove, fire wood and propone burners. This will get worse...much much worse........good luck to all!!....be prepared

Should I consolidate and refinance? I will be more specific with my current situation in order for you to get a clearer picture of finances. My current home loan began in May 2007 at 6.375% for 360mths (585.00/mth) Insurance and taxes are not escrowed. I have a 2nd mortgage which began May 2008 at 8.1048% for 59mths (400.00/mth). I also have a bankruptcy (chapt. 13) which began July 2007 at 8.00% for 60mths which is deducted from my paycheck (270.00/biweekly). Lending Tree is encouraging me to consolidate & refinance at 6.00% for 30 yrs. with closing cost of about 6,000.00. It would free up a lot of money, but I would be forced to pay mortgage insurance since it would total more than 80% of my appraisal. The loan would be for about 153,000.00. My current total mthly payment is 1,565.00. Refinancing would decrease my payment to 950.00/mth. At least that is what I am being told. The loan company is saying this would free up my money and start to repair my credit. It is hard for me to grasp why I should stretch my 2nd mortgage and bankruptcy into 30 years instead of the 4 years I lack paying them off. I am currently with Washington Mutual and have been very satisfied. What should I do? I am having a hard time stretching money from month to month.

Should we feel sorry for this family because of "their" bad choices? The American Dream turns into a debtor's nightmare A sad, but common, tale starts with alleged predatory lending, intensifies with impossibly high payments and usually ends in foreclosure. By Jennifer Delson and and Christopher Goffard, Los Angeles Times Staff Writers October 8, 2007 Soledad Aviles dreamed for years of owning a home, with a plot of land where he could grow corn and chiles as he did in his native Mexico. So he felt blessed last year when he learned he could buy a three-bedroom, single-story stucco house on West La Verne Avenue in Santa Ana. Referred to a local loan broker by a trusted friend, he borrowed the entire purchase price of $615,000 from Washington Mutual at a high interest rate typical of sub-prime loans. The monthly payment, as he says he understood it, would be $3,600 -- steep for a glass cutter who made $9 an hour -- but Aviles counted on his wife and three of his six daughters, who also worked low-paying jobs, to contribute. "We took out our pencils, figured out our take-home pay and figured out that if we all pitched in, it would work," said Aviles, 54, a stoop-shouldered, soft-spoken man with a sixth-grade education from Mexico. Relying on the broker's word, he signed loan documents written in English, a language he neither speaks nor reads, Aviles said. He was shocked to learn afterward that the monthly payment would not be $3,600, but $4,800 -- a price that forced him to rent out bedrooms, the garage and an enclosed porch while he and his wife slept on the couch. He fed his family with food from friends and corn he grew. Aviles says he was not aware that the February 2006 loan application he signed dramatically exaggerated his family's income. The application lists him as the owner of a landscaping business with a $7,400 monthly income. His 27-year-old daughter Marlene, who earns $9 an hour in a noodle factory, appears as the owner of a housecleaning company who makes $5,700 a month. The application lists their yearly income as $157,000, when, according to Aviles, it was really closer to $60,000. Now, five months behind on his payments, Aviles is scrambling to sell the house before the bank forecloses. Desperately ill from kidney disease and unable to work for the last year, he sits dejectedly at the dining room table, wondering when the bank will kick him out. Aviles' situation is hardly unique. Add his name to the ever-expanding list of casualties in the nationwide sub-prime mortgage debacle, his experience echoing that of thousands who bought homes in recent years only to find themselves in a sagging market saddled with payments they cannot make. But amid the storm of foreclosures, his story illustrates the special vulnerabilities of first-generation immigrants in places like predominantly Latino Santa Ana, where city leaders have identified about 800 sub-prime borrowers facing the potential loss of their homes. "We think this is just the tip of the iceberg, in terms of the breadth and depth," said Steve Harding, Santa Ana's deputy city manager. Apart from the language barrier, he said, many first-generation immigrants might have been especially vulnerable to sub-prime lending because they avoided checking accounts and credit cards, which prevented them from qualifying for regular loans. The city has teamed with the Fair Housing Council of Orange County to offer free foreclosure prevention workshops, hoping to teach people to avoid predatory lenders and find help as they face the loss of their homes. The Fair Housing Council said the number of people seeking help over mortgage woes, many of them Latinos living in Anaheim and Santa Ana, has soared. The group typically receives 15 to 20 complaints annually, but in September of this year the group received more than 20. The state Department of Real Estate, nonprofits and the Mexican consulate also have reported a rise in mortgage complaints, many of them from homeowners saying they signed documents they didn't understand. Across the state, many cases are landing in court. Kerstin Arusha, a directing attorney at the nonprofit Law Foundation of Silicon Valley, said that Spanish speakers, along with the elderly, "seem to be hardest hit by both sub-prime lending and predatory lending. There are many borrowers out there that were misled about the terms of the loan." The Law Foundation is suing a broker, real estate agent and lender in federal court on behalf of nine Santa Clara County families, many of whom speak only Spanish, contending they were lured into mortgages they didn't understand. The lawsuit alleges that the broker inflated incomes on loan applications, misrepresented the terms of the loans and stuck clients with higher payments than they had been promised. The victims "thought they saw the promise of the American Dream, and instead they ended up with a nightmare," Arusha said. "I think they were seen as easy targets for predatory lenders who could sell them a bill of goods without giving them disclosures in a language they understand." The Law Foundation is handling 10 other cases involving predatory lending, half of them for Latino clients, Arusha said. But in Orange County, the district attorney's office has not reported an increase in prosecutions for fraudulent lending. Elizabeth Henderson, a prosecutor in the county's fraud unit, said many such crimes go unreported in immigrant communities because of a distrust of law enforcement and confusion over what had occurred. "They're not really sure what they were promised, so they don't know if they were cheated," she said. Sitting in his Santa Ana home, waiting for the bank to kick him out or for his kidney to kill him, Aviles did not hesitate to characterize what had happened to him: "They used me, nothing more." He was led astray, he said, by a man he had considered a dear friend, Carlos Lares. They used to work in a factory together. He said Lares showed him about a dozen homes, including the one he bought, and offered to arrange a mortgage. State records show Lares lacks the real estate license required to show homes. In an interview with The Times, Lares denied showing homes and said he merely took Aviles to the office where he works, Century 21 South Coast. He declined to comment further. His business card lists him as a "team service associate." Part of me does feel bad for him, but he was stupid to think he could even make payments o $3600 a month, when he and his wife only make $9.00 an hour. WE should not have to bail him out or bail out others like them. This article is the start of letting the taxpayer bail these people out of their situations. Screw the people who made educated choices. """Jesus, Mary and Joseph.....a $600K house? $9/hr income. You must be kidding me. What was this man thinking in ANY language??? """" LOL that is the going rate in this part of the country. What is sad....... the majority of Santa Ana is a dump...... it is an illegals haven...... It is little TJ

What is an automatic stay? My husband and I filed bankruptcy for our credit cards. We kept our home and cars. Our neighborhood has become very dangerous and we put the house up for sale but stopped paying the mortgage because we will be moving sep 1. The mortgage is now 2 months behind, our bankruptcy case was confirmed March 2007. I just got a letter in the mail to return to court aug 30 because washington mutual (our second mortgage) has filed a relief from the automatic stay. What does this mean? I also noticed the bank that I have my car loan through is on the bottom it says subject to lien. Does anyone know what this could all mean? I will contact my attoorney tomorrow but in the mean time I wanted to get some info. Thanks in advance. attorney**

student loan co-signer help? Ok my mother agreed to co sign my student up untill the papers arried at my house, im not eligable for ANY type of financial aid because of my parents GROSS income, too bad fasfa doesnt realize or care that my father put my family in deep debt when he decided to build his own house that hasent sold yet, but any ways, even after the student loan i got from fasfa i still need $10,000, my credit isnt good because of somiin that happen to me in washington mutual, there sayin i owe them money which is impossibile but im havin a lawyer involved in that right now, but my mother and i got approved for the loan but she wont sign them, im tryin to explain to her that i can pay the little $150 a month my loan is goin to be to pay back the loan for 10 years after i graduate, plus i have another bank account with bank of america now so i have a place to save money, but she wont do it, and i need this loan to live on campus and livin at home isnt an option, what should i do?

Anyone know if this a moral or even a legal practice, or is it just Texas being Texas??? Lawsuit? or just Law? Currently I am in Chapter 13 Bankruptcy (Texas), Strong Storms came thru and did alot of damage, Got a $3,000 Insurance claim check. It is in my name as well as the Lender, (Washington Mutual(ly SUCKS!). They tell me they wont sign off on it! And I need to send it to Floence, North Carolina and when my loan becomes current they will sign off on it and send it back! This will be approximately 3 years when The Chapter 13 is Complete and the arrearages are all paid up! Its mandatory to carry Home owners Ins. in Texas, but if your in Bankruptcy (Ch 13 so I'm paying back a significant amount w/new laws) it is apparently another waist of money and no fixing house a little short on money these days.LOL. WAMU makes my Insurance payment every year at the end of the year as part of my escrow, see where Im going with this got me by the B... BULLS...!!! This place gets better every-day, NOT!!!

What is the largest stream of bad luck you have run into? I am going on a month and a half straight shot of F me in my A bad luck. My water heater broke (still not fixed after 1.5 months) Huntington bank credited another account with my loan payment. I bounced a check some how for 11.99 when the account has 369.56 in it. (How is that even possible?) Washington Mutual wants to sue me. I have put my phone in the washing machine. I just broke the new phone I bought when I was driving home from bowling. I just got a ticket in the mail for $95 for speeding (a camera got me). My windshield wipers broke. I am not sure how I am going to be able to pay for my tuition for school. Let alone books that I need to buy. Well, it looks as if I am up sh*t creek ay? The really messed up part of all of this is that it could be worse. If the universe does have a plan for me I wish it would fill me in on what the agenda is so, I can better prepare myself. I think it will have to end sooner or later. It has to right? I think you should decide which is best.

What is an automatic stay? My husband and I filed bankruptcy for our credit cards. We kept our home and cars. Our neighborhood has become very dangerous and we put the house up for sale but stopped paying the mortgage because we will be moving sep 1. The mortgage is now 2 months behind, our bankruptcy case was confirmed March 2007. I just got a letter in the mail to return to court aug 30 because washington mutual (our second mortgage) has filed a relief from the automatic stay. What does this mean? I also noticed the bank that I have my car loan through is on the bottom it says subject to lien. Does anyone know what this could all mean? I will contact my attoorney tomorrow but in the mean time I wanted to get some info. Thanks in advance. attorney**