My mortgage broker/friend said he seen programs that go as low as 490 credit score but they have some pretty strict terms.

ANd my credit score is 735.

I ask because I have been using the same post card mailing since day one and although it has been very effective I never tried another way, and perhaps I am missing something that can increase my business.Lafi Siyam

Iam going through an arduous process with WAMU myself.My case:I have a Condo (primary residence)1st and 2nd mortgage with WAMUtotal owed: $680KI knew I would get into trouble because my business went flat a 5 months ago and my cash reserves are being extinguished.I downloaded the information from WAMU site and submitted a complete package with an offer from a neighbor that is interested in buying the property if price is OK.I submitted ALL documentation to WAMU with the offer, proof of funds (50% downpayment) and prequalification for buyer through Wells Fargo.Offer $375,000 - prices for 2003 as per tax records.Nothing has been sold recently (18 months frozen market).WAMU sent an appraiser on Sept 02 and by Sept 04 the appraiser confirmed that the report had been submitted to WAMU through the third party company that manages Appraisals requests (REM).I have the name, extension number and e-mail of my negotiator but it has been IMPOSSIBLE to talk with her or to get anything from her.Her last (only) e-mail on the 23rd said that she didn't have the apparisal report (I tried to get to her to try to resolve it, but nothing back).Now she is in vacations until the 14th.I had been on time for my payments until August.I haven't made my payments for September - cash reserve extinguished.When will this default start affecting my credit score?

The main goal of the bailout was to loosen up credit.

Unless credit tightens so much that nobody can get loans I think the market will turn around when we hit the point of PITI equally market rent.

We own our own home and have outstanding credit.

Any help on which company to go with for no doc lines of credit would be perfect.

I don't know whether to be for or against this bailout, but I was a good boy and have some cash to invest with excellent credit.

Because credit is so tight it has become very difficult to fund deals.