As a former WAMU customer, I was in the process of a loan modification of a 1st and second mortgage, Home Equity Line of Credit. WAMU said I had to modify the first mortgage and then the second as they were handled in two sperate departments. Good commutication and direction from WAMU. I was successful in modifying the first mortgage. When I went to begin the process onthe Equity Line, Chase had taken over and the nightmare began. Not because they were taking over, but because they immediately sold my Equity Line to a collection agency without my knowledge. I called Chase to modify the Equity line and they said they did not have the account and didn't know where it went as they just sold it(??). I went to the local branch and asked for help. They refered me to another office where the manager was located for loan modifications. He was nice and began calling, in front of me, the various departments searching for my loan. He could not get the info because he had trouble getting past security to speak to an un-named manager. After 3 different phone calls he gave up and suggested I try calling the next day myself. As of today, I am battling the most awful collection agency. They are threatening with immediate foreclosure if I do not pay 75% of my loan in full. No payment arrangements, no cooperation, harrassing calls all the time and no relief from Chase. They will not speak to me because 'we do not have your loan'. What happened to the process to assist the borrowers of WAMU. I hate this bank. They are rude, impersonal bullys, and they should never have been given permission to enter the California market. Who is monitoring these guys?? Why were they given our tax payers' money? Every time I see one of their commercials I want to barf. What good is the WAMU loan mod when I will lose my home to a collection agency? They gotr rid of all the Equity lines because they have no
value in the collateral value of the home at this time. SO.."just throw these homeowners in the garbage can, we don't need to deal with this!"