Complaint / Review
Washington Mutual Bank, F.A
Homeside Lending, ABN Amro Ripoff of Escrow Funds

I took out a mortgage loan with Washington Mutual Bank Aka Homeside Lending on July. The original contract was for 65,000.

I signed all the papers but before the grace period to cancel was up the title company had marked out the 65,000 dollar loan..in ink pen. To 62,000.

I questioned that and they told me that Washington Mutual had changed their mind about the amount and I could not get the loan unless I signed a new contract.

OK I feel as though I got burned on that part. Well, I have had the same homeowners insurance for 5 years and at the signing of the contract with Washington Mutual.

They did not question my insurance and forced us to put our insurance and land taxes in an escrow account in order to get the loan. Well, we did that... Stupid me.

Washington Mutual paid our homeowners insurance for the first year.in 2004 they sent me a letter stating I had to buy their insurance which was a lot higher than mine. I did not do that.

This year they just flat out refused to pay the insurance at all... Even though it is escrowed and added to my monthly payment... I lost my insurance coverage for 4 months.

While trying to get them to pay it I was uninsured and taking a risk of losing everything to fire... including my family. Well, I let my monthly house payment be late just so I could buy more homeowners insurance.

I finally got my insurance re-instated which cost me 270.00 (a year) out of my own pocket. I called Wamu and they said they would refund my money since they still have it in escrow.

Well that didn't happen and now they say I don't have that much in my escrow account.

My solution... It may be against the law... But

From this date, Sept 1 forward I am dividing the 270.00 by 12 months and deducting it from my monthly house payment.