Email from NACA

[brokemama]

I received a very encouraging email from NACA this morning that they now have all lenders and servicers on board and will be able to assist most of the homeowners working with them. I'm afraid to get my hopes up, but they already are! My file was submitted to ALS on the 19th and I am praying every day that I get the restructuring as outlined by NACA. It would truly be a miracle ~

[whatsinaname]

Originally Posted by brokemama

I received a very encouraging email from NACA this morning that they now have all lenders and servicers on board and will be able to assist most of the homeowners working with them. I'm afraid to get my hopes up, but they already are! My file was submitted to ALS on the 19th and I am praying every day that I get the restructuring as outlined by NACA. It would truly be a miracle ~

I wonder why I didn't get the same email? NACA submitted my mod to Chase on Feb 6.

[yaya01]

I also got the e-mail and it was very encouraging, especially since I just called them yesterday to check the status and was told no response yet from Countrywide. My file was submitted 1/20/09. Now NACA is saying it is taking minimum 45 days for CW to respond. Countrywide has started the foreclosure process and according to them there is no record on their system that they are working with NACA on my file.

[brokemama]

Here is the email I received (hope it's ok with the mods I did call them this morning after I received this and after waiting 45 minutes, was told that it had been submitted to ALS and that I should allow 2 weeks to follow up again.

Dear Homeowner,

NACA is now in a position to get your Mortgage Restructure Solution done! NACA's Accountability Campaign and Predator's Tour of the CEO's homes was a tremendous success. We now have all of the major Servicers/Lenders on board in accepting the NACA Restructure Solution - over 90% of homeowners are now covered by NACA agreements. Also, the difficulties we have had with some of the Servicers have now been resolved.

As you know the NACA Restructure Solution, is based on determining a mortgage payment you can afford by permanently reducing the interest rate and the outstanding principal, if necessary, to achieve this affordable long-term payment. While it is disappointing that President Obama's foreclosure prevention program does not address the mortgage crisis with a long-term affordable solution, NACA is the one bright light that does.

For those whose cases have been in review with the Servicers, many of you will soon get the great news that your NACA Restrucuture Solution has been accepted. While everyone should be hearing from us in the near future, if you have not been contacted by March 31st please call our Counseling Center at 1-888-404-6222. If your file has not been submitted to the Servicer and you are having difficulties reaching our local office, you can call NACA's National Membership Center at 1-888- 302-6222 for assistance.

I want to thank the thousands of homeowners who participated in the Predator's Tour and other advocacy actions. Your committment and participation is now making the NACA Restructure Solution a reality for tens of thousands of homeowners. We need to continue the advocacy to make sure everyone gets the the NACA Restructure Solution.

Thank you,

Bruce Marks
NACA CEO

P.S. If you are or have worked in the mortgage industry and can give us additional insight on the problems and abuses please contact Jim D 'Agostino at 1-888-297-5568 ext. 232. Also, visit www.naca.com to stay informed and continue your participation.

[gray517]

Originally Posted by yaya01

I also got the e-mail and it was very encouraging, especially since I just called them yesterday to check the status and was told no response yet from Countrywide. My file was submitted 1/20/09. Now NACA is saying it is taking minimum 45 days for CW to respond. Countrywide has started the foreclosure process and according to them there is no record on their system that they are working with NACA on my file.

If you haven't let naca know about the foreclosure do so immediately, they may be able to get the sale date canceled or postponed. you can click on urgent situation under process on their website and follow up with a phone call.

[LadyDoveFL]

I also received that email; my loan mod request was submitted about 2 weeks ago. Haven't heard anything from my lender (both loans are with Wachovia) yet.

[yaya01]

Yes, I faxed the notice of default right after I received it on Saturday and informed them yesterday when I called. They said CW is under signed contract with them that they will not set an auction date as long as we are working on a modification through NACA but to continue to call every 10 days to check the status. NACA also told me that the notice of default was probably filed because no one at CW has even looked at my file yet and that is why they are saying there is no record but they do have comfirmation that CW received the package on 1/20/09.
I hope that with the e-mail I received this morning things start moving along and have an answer no later than March 31st. I will continue to call every week.

[MichelleLynn]

I also received that email, unfortunately I do not think First Franklin counts as a "Major Lender", and as of the letter I received form Gary Stockey dated February 21st, 2009, "You expressed to me, and in your letter to Mr. lewis, that it is your desire to have your loan converted from the balloon, adjustable rate mortgage that you presently have into a thirty-year, fixed rate loan. As I explained, that is not an option for the hardship assistance being offered."

So I will just keep on sending letters I guess to anyone that will listen until I find the person who can change the harship assistance that HLS currently provides to assistance that will REALLY help families..