Loan Modification Forum - LoanSafe.org - View Single Post - Worried - NACA Submitted since 1/20/09 and still nothing

yaya01 · 05-11-2009, 03:04 PM

I called NACA last Monday and no update. CW is reviewing the file but they have not made a decision. The NACA rep told me to call back in 2 weeks. I told her that beginning on the 13th of May, CW can set the sale date. She just said to use the Urgent link on NACA's website if that happended and they would "attempt" to stop it. I questioned why she said "attempt" and she explained that it is not 100% sure that they can stop the sale. This conflicts with information I was given before since I had been reassured by another NACA rep that CW has a signed contract with them where they would not go through with the sale as long as they are working on a modification.

CW collection calls have stopped for almost a month. I don't know if they stopped the collection calls because they are going to set the sale date or because of the NACA restructure. There is still no indication of a NACA modification on my CW on-line account.

We consulted with an attorney last week and he suggested waiting until we get an answer from NACA since attempting a new modification would only get things confused. He also said that if CW/Wells Fargo did not accept the NACA modification, we would have to wait 90 days before submitting a new mod and by then it would be too late since we are so advanced on the foreclosure process. Not good news but at least we are glad he did not lie to us just to take our money.

So for now, just waiting to see what happens.

05-11-2009, 03:04 PM	#45 (permalink)
yaya01 Senior Member Join Date: Sep 2008 Posts: 95 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Worried - NACA Submitted since 1/20/09 and still nothing I called NACA last Monday and no update. CW is reviewing the file but they have not made a decision. The NACA rep told me to call back in 2 weeks. I told her that beginning on the 13th of May, CW can set the sale date. She just said to use the Urgent link on NACA's website if that happended and they would "attempt" to stop it. I questioned why she said "attempt" and she explained that it is not 100% sure that they can stop the sale. This conflicts with information I was given before since I had been reassured by another NACA rep that CW has a signed contract with them where they would not go through with the sale as long as they are working on a modification. CW collection calls have stopped for almost a month. I don't know if they stopped the collection calls because they are going to set the sale date or because of the NACA restructure. There is still no indication of a NACA modification on my CW on-line account. We consulted with an attorney last week and he suggested waiting until we get an answer from NACA since attempting a new modification would only get things confused. He also said that if CW/Wells Fargo did not accept the NACA modification, we would have to wait 90 days before submitting a new mod and by then it would be too late since we are so advanced on the foreclosure process. Not good news but at least we are glad he did not lie to us just to take our money. So for now, just waiting to see what happens.