Nightmare in Short Sale Land

I put my house up for short sale 9 months ago. We asked and were offered $325,000 of which we owed Washington Mutual $303,000. They would have received the majority of the money and anything left over would go to the junior lien holders of my house (GMAC). WaMu dragged their heels, lost paperwork, refused to return phonecalls and bungled the sale so much that in Dec. 2008, our buyers lost their mortgage commitment and the sale fell through.

We re-listed the house for short sale but since the housing market dropped we were forced to reduce and asked for $285,000. We were offered $275,000 by a new couple, and accepted. This was January of 2009. More paperwork to be filed. More unreturned phone calls and incompetence from WaMu. Finally my lawyer contacted the supervisor of the negotiator handling our file. We made headway and reached an agreement. The sale could go through. This was at the end of April. We needed GMAC to comply, which they did. Then suddenly and without warning the negotiator handling our file at WaMu was fired and a new person hired. We were told she needed to familarize herself with our case and re-opened the file which was originally closed and agreed upon by all parties. Again we were at a standstill.

GMAC asked for $8,000 out of pocket monies in order to release the lien and settle our account with them. We balked but accepted. Then this new negotiator upon hearing that we were giving GMAC money, demanded that we pay an additional $2,000 to WaMu. She called it "Good Faith" money. Yeah right!!!!! She told me on the phone that if we could pay GMAC money then we could pay WaMu money too. I DO NOT have this kind of money readily available. I still need money to move, pay 1st and last month's rent at a new place and still pay current bills, groceries, etc. Ms. Babette Favor, our negotiator at WaMu, could care less for our situation.

My husband and I are currently unemployed too, due to the economic crisis so money is extremely tight. If we do not pay the additional $2,000, the sale falls thru. Now, they could have gotten most if not all of their money back had they been professional last year. Now we are in danger of losing these buyer's because their mortgage commitment runs out June 19.

Oh, and in the meantime we keep getting letters from WaMu threatening foreclosure. It would seem that they are not at all interested in cooperating with us and getting their money, they would rather see us foreclose and everyone loses everything. We did all we could on our end to make this short sale a success but WaMu has consistently put up roadblocks.

They are the most reprehensible company I have ever had the misfortune to deal with.