Short sale. If you owe more than your house is worth, we can work together to sell your house to payoff all or most of the mortgage amount. A short sale allows you to control the timing of the sale. The property must be listed on the Multiple Listing Service, or MLS, with a Realtor.

Deed-in-lieu. As a last resort you can voluntarily transfer the property title to the lender. This is called a "Deed-in-Lieu" of foreclosure. You voluntarily deed your property in-lieu of losing it at foreclosure. If you do not have any other loans, liens or judgments attached to your house, then we can discuss ways to transfer title. We would explore the deed-in-lieu only after we have exhausted all your other options.

WaMu is a key member of the private sector initiative called HOPE NOW and has worked very closely with the Department of Treasury, the American Securitization Forum and our alliance partners in stepping up efforts that help borrowers with the wherewithal and desire to keep their homes, but require further assistance given the challenging market conditions.

Do you accept partial payments?
Information not provided.

What percentage of borrowers can expect to get some type of workout of their mortgage?
In 2007, we helped more than 35,000 borrowers avoid foreclosure and stay in their homes through loan modification and other forms of assistance.

Are there any fees involved in the workout process?
Information not provided.

Does the process differ depending on whether you are a borrower who is missing a regular payment or a borrower whose mortgage is about to reset?
Information not provided.

Is it helpful if they contact a credit counselor who can work with you on the process?
As part of our extensive efforts to increase customer awareness of their options, WaMu participates in monthly Homeownership Preservation Workshops organized by our nonprofit partners to assist distressed borrowers and to complete workouts on location.

Find your lender

1. Bank of America 6. National City 2. Chase 7. Wachovia 3. Citigroup 8. WaMu 4. Countrywide 9. Wells Fargo 5. IndyMac

WaMu maximizes the opportunities to meet with our customers by reaching out to them via mail and phone and personally inviting them to attend the events, which are often held in major metropolitan areas experiencing high rates of foreclosures.

We're also supporting the Homeownership Preservation Foundation that links homeowners in danger of foreclosure to the (888) 995-HOPE hot line and local NeighborWorks organizations to receive free counseling from HUD-approved agencies.

WaMu has a dedicated toll-free number and e-mail set up for nonprofit and community outreach groups to contact us if they're working with one of our borrowers.

How did it go? Tell us about your experience using this information to work out a solution with your lender.