Familiarize yourself with WaMu mortgage procedure
Getting to know how a mortgage lender goes about giving you a loan and its terms and conditions is the first step to keeping on the safe side. You do not want to face foreclosure, so it is crucial for you to read all the information given in the mortgage statement issued by WaMu.
Remember, every mortgage lender has their own contractual procedures and the terms and conditions vary widely. Check with your mortgage servicer that how WaMu’s fixed-rate mortgage and variable rate mortgage differ from other lenders such as JP Morgan and other leading banks.
See how much you can afford to pay
You cannot jump into mortgage business without first considering options. The most important thing you should before getting in touch with WaMu is to see how much money you are able to afford. WaMu has a history of foreclosures and the company is usually strict about payments.
Be sure to assess your financial strength. If you think that you may face problems in terms of money in the future, think twice before you get into mortgage contract with WaMu.
Do not be afraid to share your options with the lender
You should be clear and able to share your options with WaMu if you see foreclosure is imminent. WaMu is big entity and has ability to get flexible with you if you convince the officials and provide genuine reasons and options.
Negotiate with the lender
Of course you do not want to lose your home that you used as a collateral to get the mortgage. Negotiate with the company. You can either contact the officials through their website or in person. Do not waste your time consulting your mortgage servicer (in case you got WaMu mortgage from a middleman).