Q&A: What will happen to my home loan if WaMu closes or gets bought?

Posted on Dec 5, 2012 in Unique Loan Programs

Question by Midian: How long does it take to get a Condo approved for a FHA Loan?
Me and my husband are trying to Buy a condo in Utah. We have been approved for the FHA Loan and we have been waiting for the home to be FHA approved. . . . . we’ve waited almost 2 months. How long does it usually take for a Condo to be FHA approved?

Best answer:

Answer by I is Smart!
Condos can take a long time. FHA has strict guidelines on condo associations and most of them are becoming insolvent. FHA only guarantees top tier loans sometimes and requires a lot of strict underwriting. You should be able to go to the FHA website and find out if your condo development is approved under FHA guidelines.

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Image by Let Concepts Compete
Chateau in Sully, viagra sale France.

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Chateau d’Anet
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Image by ell brown
A French Chateau near Dreux built from 1547 to 1552 for Diane de Poitiers, link the mistress of Henry II of France.

The Chateau was utilised as a place in the 1965 James Bond film Thunderball

This was just a rapid photo quit on our tour group, information pills so we did not go in. Took lots of shots and we were on our way towards Chartres.

The Château d’Anet is a French château near Dreux built by Philibert de l’Orme from 1547 to 1552 for Diane de Poitiers, the mistress of Henry II of France. It was a gift from the king and was built on the former château at the center of the domains of Diane’s deceased husband, Louis de Brézé, seigneur d’Anet, Marshal of Normandy and Master of the Hunt. The château is particularly noted for its exterior, notably the statues of Diane de Poitiers as Diana, goddess of the hunt, by Jean Goujon and the relief by Benvenuto Cellini more than the portal. Anet was the site of a single of the first Italianate parterre gardens centered on the building’s facade in France the garden-designer in charge was Jacques Mollet, who educated his son at Anet, Claude Mollet, destined to turn out to be royal gardener to 3 French kings. Anet right now The château was built partly upon the foundations and cellar vaults of a feudal castle that had been dismantled by Charles V and was subsequently rebuilt as a Late Gothic manor of brick and stone. The château was not pillaged for the duration of the French Revolution, but Diane de Poitiers’ remains were removed to a pauper’s ditch in the parish cemetery and the wealthy contents of the château, which had been the home of King Louis XVI’s cousin, Louis Jean Marie de Bourbon, duc de Penthièvre, were sold at auction as biens nationals. A large component of the château was subsequently demolished, but only immediately after Alexandre Lenoir was capable to salvage some architectural components for his Musée des monuments français ( presently situated in the École des Beaux-Arts in Paris). The components were reinstalled at Anet right after World War II. The restoration of the château itself, in pitiable condition, was due to comte Adolphe de Caraman, who purchased it in 1840 and undertook a colossal system of restoration. In 1851, the minister of the interior granted Anet the status of a monument historique. Under economic duress, Caraman sold the château in 1860 to Ferdinand Moreau, who continued the restoration, buying furnishings and performs of art that had been thought to be originally from the château. The portal The free of charge-standing chapel of Anet, built to the left of the cour d’honneur in 1549-1552, is designed on a centralized Greek cross floor strategy under a diagonally-coffered dome. Its facade has a porch of widely-spaced paired Ionic columns between towers crowned by pyramidal spires.In 1581, Henri III and his mother Catherine de’ Medici came to the chapel to attend the baptism of the infant son of Charles, duc d’Aumale. There is also the mortuary chapel, built according to Diane de Poitiers’ final wishes to include her tomb, commissioned from Claude de Foucques by Diane’s daughter, the Duchesse d’Aumale. The home belonged to several of louis XIV’s descendants Louise-Françoise de Bourbon died here in 1743, she was a daughter of the famous illegitimate son of Louis XIV the Louis-Auguste de Bourbon, duc du Maine. His sons the princes des Dombes and comte d’Eu lived here when away from Versailles. It was later owned by the fabulously wealthy duc de Penthièvre, 1st cousin of prince and the comte. The castle was used as a filming location in the 1965 James Bond film Thunderball.

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USDA Rural Housing Service Administrator Tammy Trevino talking to Lester Bailey in the kitchen of his Self-Help home in Boutte, patient Louisiana
income home loan
Image by USDAgov
New homeowner Lester Bailey built his own home through USDA’s Self Help Housing Program. Even though he’s on a fixed income, find he has an affordable house payment through USDA’s Direct Home Loan Program. Administrator Trevino toured the home with Mr. Bailey.

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Question by dangergirl416: What will happen to my home loan if WaMu closes or gets bought?
I have my home loan, treatment home equity, checking and savings accounts at WaMu. I know my checking/savings in insured by the FDIC but I am concerned about my home. Is it safe?

Best answer:

Answer by src50
Nothing. The loan continues in existence. It will probably be transferred to another lender.

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3 Comments

  1. Your home loan would get bought up by another bank. For instance, Bank of America would buy it from WaMu. Often at a discount, but that has no roll down effects to you. They’ll contact you and tell you the loan has been sold and where to send your monthly payments.

  2. YES its safe….. If WaMu fails another lending institution will purchase your mortgage… Your mortgage is an asset so someone will buy it…. then a letter will come in the mail to let you know who bought it…. Your perfectly safe and your mortgage particulars wont change….

  3. Wamu is currently trying to sell itself to another bank. This bank would then assume your mortgage and equity loan. Until then, just keep making your payments to Wamu as normal.

    Your checking and saving accounts will also be OK so long as their balances are under $ 100. This is covered by the FDIC.

    The only thing that might hiccup is when your accounts switch over to the new bank. You might lose online banking for a week or so – but your money will be safe and accessible via normal means (checks, ATM, teller.)