Mortgage Loan Modification from WaMu
- Author Lindsy Emery
- Published June 14, 2009
- Word count 413
There are several choices for homeowners to choose from with a mortgage loan modification from WaMu. Since November 2008 WaMu has been willing to assist homeowners on the verge of foreclosure. And after the new modification regulations and incentives under the Obama Administration, they have recently become even more open to loan modification negotiations.
Mortgage loan modification from WaMu is only available to homeowners with mortgages from WaMu. The existing mortgage can also not have been modified or refinanced in the past to qualify. Besides these two special bits of criteria, WaMu has same basic requirements as other lenders.
Find the guidelines for WaMu mortgage modification before attempting to apply. Applying without full knowledge of that they expect from you before a modification can and usually will disqualify you. Besides that, knowing what their requirements are will give you a sense of peace of mind from being informed.
Wamu offers an application for mortgage modification online, and it is the fastest method to get approved. Be sure to fill out and all fields truthfully and make sure you do not miss any fields. Even accidentally skipping a field can be means for denial.
They are going to be looking mostly at your income, mortgage payment history, and expenses to determine whether you are qualified or not. Keep in mind that anyone applying for mortgage modification must be going through times of financial hardship, and otherwise will not be approved.
The Home Affordable Modification Plan ensures that homeowners who are going through financial hardship are given the right to apply, but not necessarily be approved depending on the criteria the lender is looking for.
Submit your hardship letter in at the same time to send in your application in order to speed up the approval process. It takes approximately eight weeks for your application to be looked at and then approved. Submitting the hardship letter after the application can push it back at least a week.
WaMu is relatively easy to get a loan modification from in comparison to some other lenders, but that does not make it easy. They require that you fill out the loan modification application as perfectly as possible and have a convincing and professional hardship letter.
Mortgage loan modification from WaMu is a great step in the right direction for homeowners across the country, but it's a shame that even small mistakes can disqualify you. All lenders require attention to detail on your part, but WaMu requests more than average.
For essential 'need to know' facts about how you can qualify for a Loan Modification from WaMu - visit my simple, no nonsense loan modification guide and resource: [http://Home-Loan-Modifications.info](http://home-loan-modifications.info/)
Article source: https://articlebiz.comRate article
Article comments
There are no posted comments.
Related articles
- Does AutoNation work with bad credit?
- Guaranteed Auto Financing
- Elevate Your Business with Top-Quality Printing Equipment from Finance@work Pty Ltd
- BNPL vs Traditional Lending: Which Is the Better Option for Today’s Consumers?
- Can Getting a Loan Affect my Personal Credit Score?
- Personalized Loans 5 Things you Should Consider Before Applying
- Best Credit Card for Cash Back on Gas: Fuel Your Savings
- Mwananchi Credit Highlights The importance of Teaching Financial Literacy In Schools
- Porchlio's Rent Affordability Calculator: Your Key to Smart Renting
- What is SMB Funding?
- Cash USA | Quick & Easy Loans
- How Can a Private Loan Help Your Cash Flow Situation
- Business Line of Credit: A Lifeline of Your Financial Needs!
- Unsecured Small Business Loans in Australia
- Working Capital Loans: Everything you Need to Know
- Small Business Cash Advance Loans - Fast and Easy
- Things Not to Do When Building Business Credit
- Why Small Business Loans Do not Get Approved
- How to File Great West Life Benefit insurance Claim
- My encounter with the heartless corporate America @ChaseBank
- Are low doc home loans still available in Australia?
- Think Due Diligence Before Acknowledging That Loan Offer
- Tie Up Your Financial Loose Ends! The Importance of Managing High-Interest Loans
- Understanding cash flow vs. asset-based business lending
- Debt Consolidation Loan or Debt Counselling in South Africa
- Credit cards with bad credit wired to a prepaid debit card
- Insurance Financial Producers Articles - A Superstar Success Story Cannot Teach Me Anything
- Three Quick Tips From the Canada Revenue Agency on Tax Filing
- How Crypto Loans Work
- 4 Reasons why it is Beneficial to make a Down Payment for your Car