Washington Mutual Complaint - Shady Business Practice
BUTTE, MONTANTA -- We have had a mortgage with WAMU since 1998 and never had a problem until we retired. The first shock came just before we retired when our payment was returned by the post office marked undeliverable. Again, I sent out another payment and again the same thing happened. Instead of a courtesy letter or phone call to see if there was a problem, we got a forclosure notice. When we finally got in touch with one of their reps,(which took several days) he stated that this cost us with a five figure penalty; which was added to our loan. We made up the missed payments and everything went along smoothly until a year ago when again amother payment was returned unopened by the post office and again with penalities. We never receive any statements or payment coupons - we are like a mushroom - always in the dark and never know what is goning on with our loan. They tell us they don't have to provide us with statement or payment coupons. When I finally retired, we had to change our payment schedule around due to different paydays. Everyone co-operated with us except WAMU making it very hard to get our payment to them on time. Several months ago they got my payment back to the bank before my S.S. check arrived and so the bank returned my payment - again an other immediate forecloser notice. I have wiped out our savings trying to keep up with these people. Now they tell me within the next two months our payment will triple. It is impossible for a retired person to keep up with this type of business. I believe WAMU is prejudice against retired people and very money hungry. They prey on the elderly and don't deserve to be allowed to deal with anyone who may retire or become incapacitated in any way. They are calloused and inhumane. I recommend that anyone who has a choice in Mortgauge institutuions to choose any other company and stay away from Whasington Mutual.