How does Washington Mutual handle mortgage/credit lines loss mitigation?

Washington Mutual handles mortgage/credit lines loss mitigation through a comprehensive approach that includes various options. They work closely with borrowers facing financial hardships to find suitable solutions and avoid foreclosure whenever possible. Washington Mutual offers loan modification programs that can reduce monthly payments by adjusting interest rates, extending loan terms, or forgiving a portion of debt. They may also provide forbearance plans to temporarily suspend or reduce payments during difficult periods. In cases where these options are not feasible, Washington Mutual may explore alternatives such as short sales or deed-in-lieu of foreclosure, allowing borrowers to sell their homes at a loss or transfer ownership to the bank. The aim is to provide responsive assistance and minimize the impact on borrowers while ensuring the integrity of their mortgage/credit lines.