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  • March 17, 2008 at 8:30 PM #12152
    sd-maybe
    Participant

    Does anyone have any experience with this loan product?

    http://www.wamumortgageplus.com/

    Once you get past the cartoonish interface it looks interesting. I would not use the line of credit aspect of it, but it appears useful if, as advertised, you can reset your fixed rate even lower in a matter of minutes as rates drop without going through the whole refinance process

    March 17, 2008 at 9:09 PM #172007
    NotCranky
    Participant

    Check the fine print for transaction fees. When I looked into it about two months ago they were 2% on the equity line portion of the loan. I would also look into which balances ,if you use the fixed and equity line, that payments go to. I didn’t check that because the deal was dead on the fees issue.

    In two trys several years a part I got little straight talk from Wamu loan originators.

    March 17, 2008 at 9:09 PM #172338
    NotCranky
    Participant

    Check the fine print for transaction fees. When I looked into it about two months ago they were 2% on the equity line portion of the loan. I would also look into which balances ,if you use the fixed and equity line, that payments go to. I didn’t check that because the deal was dead on the fees issue.

    In two trys several years a part I got little straight talk from Wamu loan originators.

    March 17, 2008 at 9:09 PM #172346
    NotCranky
    Participant

    Check the fine print for transaction fees. When I looked into it about two months ago they were 2% on the equity line portion of the loan. I would also look into which balances ,if you use the fixed and equity line, that payments go to. I didn’t check that because the deal was dead on the fees issue.

    In two trys several years a part I got little straight talk from Wamu loan originators.

    March 17, 2008 at 9:09 PM #172364
    NotCranky
    Participant

    Check the fine print for transaction fees. When I looked into it about two months ago they were 2% on the equity line portion of the loan. I would also look into which balances ,if you use the fixed and equity line, that payments go to. I didn’t check that because the deal was dead on the fees issue.

    In two trys several years a part I got little straight talk from Wamu loan originators.

    March 17, 2008 at 9:09 PM #172445
    NotCranky
    Participant

    Check the fine print for transaction fees. When I looked into it about two months ago they were 2% on the equity line portion of the loan. I would also look into which balances ,if you use the fixed and equity line, that payments go to. I didn’t check that because the deal was dead on the fees issue.

    In two trys several years a part I got little straight talk from Wamu loan originators.

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