WAMU - Washington Mutual - Mortgage Loan Modifications - California, Nevada, Arizona, Florida

Welcome to our loan modification site for WAMU borrowers only. That's right... Even though we are an independent organization and we are not associated with Washington Mutual, we have the knowledge, expertise and contacts inside the lender to effectively complete your loan modification. That’s our area of expertise! Below are answers to just a few of the many questions we receive from our clients:

What types of loans qualify for a loan modification?

All loan types qualify. This includes the option arm/neg-am, adjustable and fixed rate loans. A very common hardship for our clients is when the interest rate on their loan is about to adjust.

What types of borrowers qualify for a loan modification?

It is important to have income, whether through a job or self-employment. NOTE: Borrowers that qualified for a WAMU loan under the stated income program can qualify for a WAMU loan modification.

What type of credit score is required to qualify for a loan modification?

The actual credit score is not important during this process. And we work with all sorts of credit situations. It’s critical you have an accurate list of your current credit balances and monthly minimum payments. The lender will review your credit information during the process.

Can I qualify for the Obama Home Loan Modification Plan at WAMU?

In order to qualify, the home must be your primary residence. Second, the first lien must be no greater than $729,750. You do not have to be late. The goal of the plan is to reduce the borrower’s monthly payment to no more than 31% of their front-end debt to income ratio. NOTE: If you do not qualify for this specific plan (investor property, larger loan amount) many other loan modification programs are available.

How do your fees work?

We do not charge an upfront fee for our services. Instead, we spend significant time at the beginning of the process to qualify our clients and understand their goals for a loan modification. After we deliver a free qualification, the client has the option to continue with our services and submit a full and complete loan package to the lender, in support of a loan modification.

Do I need to be late on my mortgage payments to qualify for a WAMU loan modification?

No, you do not have to be late. We have completed many loan modifications for clients who were not late. Further, we do NOT advocate you go late in order to successfully obtain a loan modification. However, if you are falling behind on your mortgage payments, we recommend you start the loan modification process as quickly as possible.

What if I have already started to work with the lender on a loan modification? Or what if I have been denied?

Several of our clients have come to us while working directly with the lender or with another loan modification company. They were frustrated by the lack of communication, lost paperwork and overall lack of progress. We are often asked to take over and complete the loan modification for the client. NOTE: If you have been denied by WAMU, you can resubmit.

What types of properties qualify for a loan modification?

All property types qualify for a WAMU loan modification. That includes primary residences, second homes and investment properties. The number of properties you have is also not a factor.

If you are new to loan modifications or if you have stepped into the process and are frustrated by the lack of progress, we can help. We understand the procedures within Washington Mutual for completing a loan modification. We have experts with significant relationships within the loss mitigation department. This allows us to communicate more effectively with WAMU and get your loan modification completed.

So don't delay. Leave your contact information below and we will get in touch with you immediately.

Martha Cobb Shanks
Mod Movers/Vesta Mortgage
626-282-1164
martha@wmmodmovers.com