Hollywood, Calif., April 28 /PRNewswire/ -- Today, Washington Mutual, better known as "WaMu," turned Hollywood (the Town Where Dreams are Made) into WaMUWOOD (the Place Where Dream Homes Are Made). During this community home financing and improvement celebration, WaMu gave away $2,500 -- a first month's mortgage payment -- to the first 50 customers who signed up and qualified for the new WaMu Mortgage Plus(TM) home loan. To celebrate, these 50 customers set fire to their first month's mortgage payments while WaMu provided them with the reimbursement valued at $2,500.
"WaMu is 'lighting a fire' under the mortgage industry with the launch of the WaMu Mortgage Plus(TM) home loan," said Mike Zarro, WaMu Senior Vice President, Home Loans. "Providing customers with unmatched simplicity and flexibility, we expect that WaMu Mortgage Plus(TM) will set a new standard for home loans."
WaMu's community home financing and improvement celebration also featured free home improvement resources, live entertainment and a raffle for a chance to win $5,000 for a personal home improvement project. Throughout the day, home improvement experts provided free, one-on-one consultations to the public on everything from interior design, to carpentry, to plumbing, to landscape design. Free entertainment was provided by the Martini Kings, the Grandeza Mexicana Folk Ballet Company, the Hollywood High School Band-Drill Team and H20 -- The Singers of Hollywood High. A $10,000 donation was made to the Hollywood Community Housing Corporation, which develops affordable rental housing for low income families here in Los Angeles.
"Today's WaMu community event is dedicated to Angelenos who want to improve their homes, whether through a better mortgage or by learning how to remodel or redecorate it," continued Zarro. "Recognizing that purchasing a home can be difficult for many Angelenos, WaMu is also proud to support the Hollywood Community Housing Corporation."
WaMu Mortgage Plus(TM) home loan combines a first mortgage and home equity line of credit into a single loan. With an unprecedented bundle of features including no closing fees, instant access to equity and the ability to reset the interest rate on the mortgage twice a year, WaMu Mortgage Plus(TM) is likely to be the only loan a borrower will ever need. To further enhance the customer experience, WaMu is offering WaMu Mortgage Plus(TM) through its national Retail Bank store network in addition to its Home Loan distribution channels.
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