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Mortgage Loan Modification from WaMu
There are several choices for homeowners to choose from with a mortgage loan modification from WaMu. Since November 2008 WaMu has been willing to assist homeowners on the verge of foreclosure. And after the new modification regulations and incentives under the Obama Administration, they have recently become even more open to loan modification negotiations.
Mortgage loan modification from WaMu is only available to homeowners with mortgages from WaMu. The existing mortgage can also not have been modified or refinanced in the past to qualify. Besides these two special bits of criteria, WaMu has same basic requirements as other lenders.
Find the guidelines for WaMu mortgage modification before attempting to apply. Applying without full knowledge of that they expect from you before a modification can and usually will disqualify you. Besides that, knowing what their requirements are will give you a sense of peace of mind from being informed.
Wamu offers an application for mortgage modification online, and it is the fastest method to get approved. Be sure to fill out and all fields truthfully and make sure you do not miss any fields. Even accidentally skipping a field can be means for denial.
They are going to be looking mostly at your income, mortgage payment history, and expenses to determine whether you are qualified or not. Keep in mind that anyone applying for mortgage modification must be going through times of financial hardship, and otherwise will not be approved.
The Home Affordable Modification Plan ensures that homeowners who are going through financial hardship are given the right to apply, but not necessarily be approved depending on the criteria the lender is looking for.
Submit your hardship letter in at the same time to send in your application in order to speed up the approval process. It takes approximately eight weeks for your application to be looked at and then approved. Submitting the hardship letter after the application can push it back at least a week.
WaMu is relatively easy to get a loan modification from in comparison to some other lenders, but that does not make it easy. They require that you fill out the loan modification application as perfectly as possible and have a convincing and professional hardship letter.
Mortgage loan modification from WaMu is a great step in the right direction for homeowners across the country, but it’s a shame that even small mistakes can disqualify you. All lenders require attention to detail on your part, but WaMu requests more than average.
Healthcare Expenses Increasing Faster than Personal Revenue
According to the Commonwealth Fund, health insurance costs are rising faster than personal income in all 50 states. Deductibles and other out of pocket expenses continue to go up, while incomes are going down. The Commonwealth Fund’s study discovered several reasons for the rise in health care costs over recent years. Among the findings, it was discovered that employers are charging their employees higher costs to participate in health care plans. In addition, deductibles have risen 98 percent since 2003. This means that most people will have to pay for their own healthcare costs out of pocket for a greater length of time before their coverage kicks in. in addition, total premiums that employees pay annually average $3,721.
This news hits close to home for many Americans who are dealing with other economic problems already. With employment rates mostly stagnating, foreclosures going up, student loan debt reaching one trillion dollars, and incomes going down, it’s not getting any easier for most Americans to stay financially solvent in these trying times. For many Americans, the rise in health care costs is beginning to make the very idea of survival economically prohibitive. .
Many Americans, on the other hand, are being forced to discover creative new ways to pay for their health care costs. For example, some individuals whose incomes are preventing them from getting covered may take out short term loans in order to meet rising medical costs. Many short term loans are available, each coming with its distinct set of pros and cons. Payday loans, for instance, are one of the most popular types of short term loan. However, for most Americans they’re not a feasible option for paying medical costs since they are usually only for a small amount and come with a short repayment period. This may influence some to turn instead to collateral loans, which offer a more robust amount in exchange for some piece of the borrower’s property. One type of collateral loan that’s becoming increasingly popular is called a car title loan. Motorists may find these to be a better option than other short term loans since they typically charge lower interest and come with longer repayment periods. Consumers who are interested in more information about car title loans can access sites such as http://tfciloan.com and http://acartitleloan.com
While there may be more than one way to skin the cat of health care costs, one thing is certain. Americans are going to need to take all the financial help they can get as health care costs continue to make themselves out of reach. It’s simply irresponsible to live without health insurance, even if you find that it takes a chunk out of your discretionary income. To pay for ever rising health care costs, Americans will just have to budget more wisely.