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NCRaider · 03-25-2009, 11:44 AM

Wow @teenut -- NACA actually did something for you?!?! NACA has officially succeeded in having our loan mod request denied, 1 year after the fact, and 2 weeks after telling us it was accepted. After 1 year of constant phone calls, emails, being told to not call Countrywide, then to call them, being told they've submitted the loan mod request back in June when they didn't do it until August, being told we have to submit all financial information AGAIN, and then told we don't have to, being told we have a better chance of getting priority assistance if we go to DC and march on their behalf....I think NACA is a sham. I'm glad that you had some luck...maybe it's a regional thing or something, I don't know. But we got the announcement last week, and now Countrywide says they will start foreclosure shortly and the house will be transferred to HUD, and sent us a form to fill out to ask HUD if we can stay in the house while it is being transferred to them.

The reason for the denial? Negative income, yet the information we gave the staff member at the regional office one year ago showed positive income of approx. $150 a month. He wrote down what we told him were our monthly expenses (at least we thought he did) and he didn't give us a copy of the form he was filling out at the time. Silly of us to believe he actually wrote down what we said! So we are going to his office today and requesting a photocopy of what was actually submitted. We are ready to pay at least half, more than likely 75% of what we are behind (which is 11 months...yes, we actually contacted NACA BEFORE we were behind...so much for being proactive!) to Countrywide if that will stop the foreclosure from occurring. But we don't even know if they'll accept it...the denial letter said we had to pay everything that is behind. Is that the case still, even with the new Homeowners Loan Modification Act?

If anyone has any suggestions on what to do next -- we've called FHA and HUD (since it is a FHA mortgage), but they have continuously told us to keep sticking with NACA, only God knows why -- I'd love to hear them. We don't want to lose our home...we just want lower payments, that's all. Our interest rate is nearly 8% and we just want to get a decent rate, like 5 or 6%.

Any and all help is appreciated!

03-25-2009, 11:44 AM	#8 (permalink)
NCRaider Member Join Date: Jul 2008 Posts: 15 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: CW is a joke!!!!!!!!!!!!!!!!1 Wow @teenut -- NACA actually did something for you?!?! NACA has officially succeeded in having our loan mod request denied, 1 year after the fact, and 2 weeks after telling us it was accepted. After 1 year of constant phone calls, emails, being told to not call Countrywide, then to call them, being told they've submitted the loan mod request back in June when they didn't do it until August, being told we have to submit all financial information AGAIN, and then told we don't have to, being told we have a better chance of getting priority assistance if we go to DC and march on their behalf....I think NACA is a sham. I'm glad that you had some luck...maybe it's a regional thing or something, I don't know. But we got the announcement last week, and now Countrywide says they will start foreclosure shortly and the house will be transferred to HUD, and sent us a form to fill out to ask HUD if we can stay in the house while it is being transferred to them. The reason for the denial? Negative income, yet the information we gave the staff member at the regional office one year ago showed positive income of approx. $150 a month. He wrote down what we told him were our monthly expenses (at least we thought he did) and he didn't give us a copy of the form he was filling out at the time. Silly of us to believe he actually wrote down what we said! So we are going to his office today and requesting a photocopy of what was actually submitted. We are ready to pay at least half, more than likely 75% of what we are behind (which is 11 months...yes, we actually contacted NACA BEFORE we were behind...so much for being proactive!) to Countrywide if that will stop the foreclosure from occurring. But we don't even know if they'll accept it...the denial letter said we had to pay everything that is behind. Is that the case still, even with the new Homeowners Loan Modification Act? If anyone has any suggestions on what to do next -- we've called FHA and HUD (since it is a FHA mortgage), but they have continuously told us to keep sticking with NACA, only God knows why -- I'd love to hear them. We don't want to lose our home...we just want lower payments, that's all. Our interest rate is nearly 8% and we just want to get a decent rate, like 5 or 6%. Any and all help is appreciated!