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WaMu Walks Away From Mortgage on Downtown Headquarters
Struggling savings and loan giant Washington Mutual announced Wednesday that they will no longer be making payments on their mortgage for WaMu Center, the company's 42-story downtown Seattle headquarters. The decision by WaMu follows in the footsteps of an increasing number of distressed homeowners that have walked away from their mortgages as the real estate market continues to experience record declines across the country.