Hi Everyone,
My NACA Restructure was submitted 5/5 and my
CW/BOA account online was just updated to read:
Your Loan Modification has been approved, and all collections activities have been suspended as a result of this approval. Next steps will include a call from a workout negotiator who will explain the terms and options of your approved workout including all conditions required for the final completion of the workout, such as upfront funds. You will also receive a package of documents in the mail. These documents are time sensitive and must be signed, notarized and returned to us in 10 days, including any required upfront funds. If you have not received your workout package and/or a phone call from your negotiator by 09/11/2009, please contact us. Please do not call back before 09/11/2009 as that may delay the process. Please respond promptly to any calls or requests that you may receive from us during this time period. Lack of response will cause your workout to be delayed or cancelled. Thank you.
I'm have not received a call yet or package so I don't know what the terms are. I'm hoping it's not like the first one I turned down (Homesaver Advance) but NACA told me they don't work with those -- so now the waiting game begins! The only thing that confuses me is we applied for a "Restructure" - not a "Workout" -- not sure if that means anything or if there is a difference w/
CW.
Just for the record, for all of you that are pulling your hair out calling and calling -- I never made any calls and this seems to have gone thru without a hitch. I hope I didn't jinx myself!
R