Frustrated With WAMU

[Joel Fraser]

Hello, my name is Ron. I have been trying to get a modification with WAMU. As of Sept. 15 my wife and I will be 3 months past due and facing foreclosure.Back in Oct. 2007 similar situation and WAMU gave us what they called a modification,took the past due amount, added it to the end of the loan, and we went from owing $147,000 to $166,000.Did not change interest or rewrite the loan.I have since learned that is not a modification but a deferral.WAMU told us yesterday, August 26, 2008, they could not do another modification reason being "the loan can only be modified once during the life of that loan". Since March of '08, my wife has had to leave her job because of qualifying for Disability because of Rheumatoid Arthiritis, she is just 40. I am laid off but will be returningto work October 1,2008. Our first mortgage was with Flagstar Bank in 2000. We refied through Saxon Mortgage,they in turn sold to WAMU. It was 3 year fixed with adjustable after 3 years.The loan started at %9.25 because at the time we both were self employed.Since the 3 years were up it has adjusted twice and is at %11.125.Our original payment was $1,248.00, it is now $1,904.35. Even working a 40 hour week and my wife's Disability benefits, the mortgage payment eats %55 of our income per month, being that i am laid off currently, we don,t have enough income to even make the payment, hence the reason we are 3 payments behind and looking at foreclosure.Is it feasable for me to want WAMU to try and give me a more manageable interest rate? I have read many success stories in your forum, but I don,t be seeming to have the same luck. Iam exhausted trying to get someone at WAMU to want to talk to me. When I found your website it gave new hope! HELP PLEASE. Thank-You.