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tandknix · 01-13-2009, 07:39 AM

We were the other success story gray was referring to. We went through NACA also. Submitted paperwork 9/26, got verbal approval 12/12, received docs 12/26.

Our loan began as a 10.45% ARM...after the first 2 years it would go up. First loan mod offer through CW was a reduction to 10.35%, second reduced our rate to 6.75% for 5 years then it would return to 10.45% for the remainder of the loan. After our first offer from CW is when we contacted NACA. We continued to work with NACA while CW was working on our loan also...we went into active foreclosure which NACA got postponed. After the second loan mod offer we refused to sign we got our offer from NACA. Although we got verbal approval 12/12 the docs we got were dated 11/18...which means they SAT ON THEM for over a month! I feel they did this to see if we would take the second offer

Our offer from CW through NACA reduces our 10.45% ARM to 5.25% for the life of the loan!

01-13-2009, 07:39 AM	#10 (permalink)
tandknix Senior Member Join Date: Aug 2008 Location: Texas Posts: 204 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Naca? We were the other success story gray was referring to. We went through NACA also. Submitted paperwork 9/26, got verbal approval 12/12, received docs 12/26. Our loan began as a 10.45% ARM...after the first 2 years it would go up. First loan mod offer through CW was a reduction to 10.35%, second reduced our rate to 6.75% for 5 years then it would return to 10.45% for the remainder of the loan. After our first offer from CW is when we contacted NACA. We continued to work with NACA while CW was working on our loan also...we went into active foreclosure which NACA got postponed. After the second loan mod offer we refused to sign we got our offer from NACA. Although we got verbal approval 12/12 the docs we got were dated 11/18...which means they SAT ON THEM for over a month! I feel they did this to see if we would take the second offer Our offer from CW through NACA reduces our 10.45% ARM to 5.25% for the life of the loan!