I just got a letter from Washington Mutual also known as Wamu yesterday.  They lowered my home equity line to $900.  It originally started off at $27,500.  It was lowered about 6 months ago to just over $8000.  What are you going to do with a $900 home equity line?  I told them to just close it.  They said that you have to pay $55 to close it.  Rather than close the line they leave a ridiculous amount on it.  They are too cheap to close the thing themselves.  They would rather have me pay it. Continue Reading »