Loan Modification Forum - LoanSafe.org - View Single Post - Missed April & May payment, late payments reported, NACA started

sqa4life · 05-16-2009, 11:51 PM

Hello,
We've missed two payments (April & May). CW called a couple times. We submitted application for loan modification and was denied right away. Credit reported just show up as 2 late payments and score dropped over 100 points (who cares).

Anyway, we had two interviews with NACA so far. Our next/last one will be next Tuesday, because NACA needs our home owner insurance policy and HOA document. Just faxed them over today.

My question:
Will CW (B of A) continue with the foreclosure process regardless of if NACA submitted the request for loan mod?
Usually how long does the foreclosure take?

I am thinking of hiring an agent with short sale experience and hope to short sale so I can buy another house after two years. I live in WA and only have one loan and I have no assets anyway :-).

Thanks for your advise/suggestion.

05-16-2009, 11:51 PM	#10 (permalink)
sqa4life Senior Member Join Date: Apr 2009 Posts: 36 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Missed April & May payment, late payments reported, NACA started Hello, We've missed two payments (April & May). CW called a couple times. We submitted application for loan modification and was denied right away. Credit reported just show up as 2 late payments and score dropped over 100 points (who cares). Anyway, we had two interviews with NACA so far. Our next/last one will be next Tuesday, because NACA needs our home owner insurance policy and HOA document. Just faxed them over today. My question: Will CW (B of A) continue with the foreclosure process regardless of if NACA submitted the request for loan mod? Usually how long does the foreclosure take? I am thinking of hiring an agent with short sale experience and hope to short sale so I can buy another house after two years. I live in WA and only have one loan and I have no assets anyway :-). Thanks for your advise/suggestion.