Washington Mutual is telling people they are not participating in the government bailout?
November 10, 2008

Washington Mutual, the failed financial institution bought by Chase, is telling troubled homeowners that they, “are not participating in the government bailout, not reducing mortgage debt, not writing down any mortgages.”

So all the loyal taxpayers out there can rest assured that Chase took the government billions and will not be helping any of the WaMu homeowners who want to remain in there home and try to pay the market price for there home.

What the f#%* ?

So if you owe $850,00 on a home that is now worth $400,000 you will not get any relief whether it is because  of a bad loan, or predatory loan, or a tumbling real estate market. Washington Mutual and Chase would have the home go to foreclosure and sell for 200,000 instead of re-writing the mortgage at the proper appraised value.