Chosen by Asker

Ok first to all of you folks above do you know what their situation is or own your own home? Perhaps they never had an issue with paying as agreed until someone got cancer or lost their job in this awesome economy we have right now......That said no I don't have a property being taken by a bank but in your situation I could see how if the bank can see equity in your property by seizing and selling at auction they stand to recover their money owed to them plus the profit of the interest already gained from how long you've been paying on the loan......so people YES they do want the home as it will benefit their books in the loss column VS all those other homes that are "underwater". Oh and for those that are trying to be smart in this question it's not if anyone agrees with modifying loans or if they are at fault in some way!!! IT'S IF ANYONE ELSE IS IN A SIMILAR SITUATION!!!!!!!!!! So no I'm not in this situation and I'm sorry to see a big bank that took 25 billion dollars of Americans money and used it to buy up another large bank and remodel all of the branches on the West Coast! Funny they can find the money for that but when real Americans who LOANED it to them in the first place without consent need help they are quick to turn their backs! Thanks Jamie Daimon for running a great organization that puts people first and not your paycheck!!!!

Source(s)

Living life, working in finance, seeing hard working families getting scammed and abused by huge banks with no concerns but plenty of greed....

by Seth R

2 weeks ago

Asker's Rating: 

What...WaMu slammed you with $14,000 in fees because you had the audacity to question whether you could work out a loan modification? That explanation makes little sense.

by Gaytheist Buddha- 2 weeks ago

Shameful. It's shameful that you won't pay your mortgage as YOU AGREED TO WHEN YOU BOUGHT OR REFINANCED the house. Disgraceful.

by zeuz- 2 weeks ago

So "the equity of the property exceeds program guidelines"? Guidelines are guidelines and the loan modification program has to follow its own rules. What part of that don't you understand? $14,000? Huh? Why would Wamu or any other bank want to "scam" you out of your home? What do you imagine they are planning to do with it? All banks have too many bank-owned homes on the books to want any more. How would it benefit them?

by CAtransplant- 2 weeks ago

Question: Why would you need loan modification if you have equity in the home? I understand if you want to refinance because the mortgage rate is low, but modifications? That's only for homes that are "under-the-water". Ask yourself: Am I under the water? Why should they modify your loan?

by anhsupra- 2 weeks ago