Are you struggling with your house payments to Washington Mutual? Is foreclosure seeming like a very real possibility? A Washington Mutual Loan Modification may be a solution to your dilemma.
President Obama has attempted to slow down the rising rate of foreclosure by funding a home stimulus bill. It pays financial incentives to banks to rewrite existing home mortgages to achieve a lower monthly payment for homeowners in financial hardship. You are in luck because Washington Mutual is on the approved list of lenders.
If you meet the application guidelines, you could avoid foreclosure in the near or distant future. It may be a pleasant surprise to you to realize that Washington Mutual does not want to foreclose on your home. It is quite an expense in time and labor for them to execute a foreclosure, and with the new stimulus program, they receive a $1000 incentive to rework your loan for you. They have several options at their disposal to lower your monthly payment: lowering interest rates, lengthening loan terms, waiving late fees, and even reducing principal. Their goal will be to reduce your payment to an amount that is less than 31% of your gross monthly income.
Before you contact the loss mitigation specialist, gather all your information and documentation. Do your homework; familiarize yourself with all the requirements. This will give you confidence and increase your chances of success in obtaining a Washington Mutual Loan Modification. Although they are quite motivated to work with borrowers, they are being inundated with applications. Be sure you get all the information you need and correctly complete the application the first time; you only get one chance. The application deadline for these mortgage modifications is December 31, 2012.
To save your home, click here to get the help you need to qualify for a mortgage modification loan.
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