Try a local bank first.
in debt, paying cash, practical, saving a little
| Cons |
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DEC
8
2008
Washington Mutual —
We have never been late on a mortage payment and received a notice from WaMu that they could lower our interest rate by more than 2%. Great! Or so I thought. When I called to get the info, I was told that even though they already held our mortgage, a full title examination of our property would have to be completed -- even though they could check from the time we financed with WaMu to the present time. Closing costs were estimated at over $3,000.00!?!?!?! What a way to save money :-(. Now--if we were behind on our payments, they would be more than willing to help lower our interest rate and restructure our loan, but since we were up to date (and paying ahead of schedule) we'd have to go through the whole shebang of refinancing. Don't think so --- we went local and didn't pay a cent on closing costs! Take that WaMu!
Washington Mutual is not recommended by CharBrue
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