Quote:
Originally Posted by sqa4life  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. |
I am 5 months behind and working with NACA. When I heard from neighbors someone was taking pics of our house - I immediately called NACA to see what was going on. I was told that COLLECTIONS DO NOT STOP WHEN YOU ARE GOING THRU NACA. They will continue with regular foreclosure process. However, if you get an auction notice on your door, there is a spot on the NACA website where you give them the date and fax them the form and they will stop the process right away. Hope this helps.