Emc loan modification application

[MAXIE19]

Update:

Called today to get an update on my loan mod app. The rep told me to hold on while he read the notes. After a long pause, he finally came back and told me that he was sorry to inform me that the underwriter denied my app yesterday due to insufficient income and that a letter to that effect has been sent to me. I am so devastated and don't know what to do at this point. I tried to contact my ET specialist , but she is on vacation until next week. Called her supervisor, was not able to reach her and so left a message. I also decided to go one step further and shoot another email to our dear Mr. Dimon, Ms. Thatch who lovingly sends out those form responsive letters, and my ET's supervisor, Ms. Beth Collins.

Coincidentally, I emailed two of my senators on Monday about my case, and here comes a denial on Wednesday after 4 months of little action. Go figure. Anyway, here is my email to Mr. Dimon which highlights my situation.

"Dear Mr. Dimon:

I last wrote to you about my loan modification application with EMC Chase back on June 23, 2009. After over four months of patiently waiting, diligently providing all requested information and calling several times a week to get regular updates on the status of my application, I was informed this afternoon that my app was denied due to insufficient income by the underwriter. The representative that I spoke to was unable to tell me the details of what information went into this determination. However, the decision is puzzling as we have done all that is in our power to make paying our mortgage obligation our #1 priority even to the point of neglecting some other obligations and needs. We have always been current and never late even on those occasions when we had no option but to rob Peter to pay Paul by borrowing on our credit cards to meet our mortgage obligations.

My mortgage with EMC is approximately $9,974 at a fixed rate of 6.37%. As demonstrated by my 2007/2008 1099s and my 2009 YTD earnings (all verifiable income), I suffered a significant reduction in my income from about 16k a month in 2007 to approximately 11K a month in 2008 and 2009. I however receive an additional 7K a month (approximately) in spousal support contributions and provided a year's worth of banking statements dating back to August 2008 showing the regular and consistent deposit amounts on a twice monthly basis of said amount by my spouse. I also provided a financial statement that left me with a little surplus of about $100-200 dollars a month after all bills and expenses are paid. We are currently under water having paid about 1.7 mil for our home approximately three years ago but the home is valued between 1.1-1.2 mil today.

We have practically exhausted all our savings in the process of making ends meet. We have 3 young children and the news that I received today from EMC has been quite emotionally devasting because this was our last hope of keeping our home.

We respectfully request a reconsideration. Please help us keep our home and regain our financial footing. Thank you so much."

[MAXIE19]

Update:

Did not receive the form email from the executive office but did get a call today from my ET's supervisor. She was extremely nice and professional and appeared willing to help. She seemed quite knowledgeable about my peculiar circumstances and the details of my case. She indicated that she was quite familiar with my account as my ET had discussed same with her on numerous occasions. I asked her why my ET had told me that Chase was not currently working on current loans as recently as 7/27 b/c they did not yet have the guidelines/software to process the current loans, and merely two days later, I received word that my app was denied. She confirmed that my ET was right and that Chase does not have the software/guidelines for the current loans but in light of the number of people who have been waiting for months to receive a response, Chase decided to have the underwriters review the files for eligibility.

She did also say that she sent an email to my underwriter to determine what went into the decision behind the denial and would get back to me early next week to see if the decision could be reconsidered. She invited me to call her anytime if I had any additional questions before she got back to me next week.

I did ask her whether it was possible to know what numbers would qualify for me. She firmly informed me that they are not allowed to discuss eligible income or allowable expenses with us and that they can only go by the information that we submit to them.

I assured her that I understood but still requested that she find out from the underwriter if it would make a difference if I paid off two accounts of less than a $1000. I have an auto loan and a furniture store purchase balance with two remaining payments for each account that can be paid off with a thousand dollars. The auto loan monthly payment is about $300 while the furniture purchase monthly payment is $170. Combined, both accounts can be paid off with $940.00 which will free up about $470 in my monthly budget. I also asked her to inquire about my property taxes which could drop by about $250.00 after my escrow is re-analyzed based on the reduced property values and resulting lower property taxes that I just received. She promised to do so. Altogether, I can save about $720 in my monthly budget with this plan.

I was previously showing a surplus of $ 138. After my conversation with her, I got a little bit concerned as to whether a revising my worksheet to show a total surplus of $858 would be too much. That amount means nothing in light of my monthly expenses, and our unpaid 2008 and 2009 taxes but could lead to another denial by Chase on the ground that we can afford our mortgage with the surplus.

Will see what happens next week. One thing I know is that finding this forum has made this whole process a little bit more bearable. ALL THANKS TO YOU MOE AND ALL THE WONDERFUL AND HELPFUL PEOPLE ON THE FORUM.

[MAXIE19]

Update: Reconsideration request denied today with opportunity to resubmit.

Received a call from my ET's supervisor with regards to my request for reconsideration based on showing a larger surplus after paying off two accounts.

Result: Denied Again

This is what I get thus far about this process. I do not think that these banks care about your expenses. You need to show enough income to afford the mortgage based on their secret guidelines especially for those of us with private investors. I argued that I should qualify easily if they modified me at 2% for 40 years. She firmly responded that that did not fall under the investor guidelines and programs that I qualified for.

According to the supervisory ET, she has gone to the top with my application and they have tried a bunch of different scenarios but cannot get there because of the income limitations. She emphatically said it is not about the expenses, the borrower has to first establish that the loan will be affordable based on the income and they cannot get there based on my income and the amount my husband contributed to our joint checking account. She said the only way the underwriters think this is possible is by taking my husband's entire income into consideration to see if he is able to show an AGI greater than his monthly contribution to the household as depicted in our joint checking account. They need to use his adjusted gross income since he is self-employed with his own business (complete with employees, office rent, advertising and other expenses. They now want me to provide my husband's income (banking statements showing his deposits and his expenses as well as his financial worksheet). According to the supervisor, as soon as she receives the information from me, she will forward same to the underwriters to see if we can get a different outcome. She promised to get back to me with a response next week.

In spite of my misgivings about this process, I have to say that I am impressed with the fact that they appear to be finding ways to make this work. I may be naive in this assumption, however, I choose to be positive about this. Another positive about going through the office of the president is that I not getting back in line and waiting another 3-4 months for a response. By going through the executive team, my re-submissions are expedited and adjudicated a lot faster, in this case, one week.

I am in the process of again re-submitting to include my husband's entire income and banking statements and all I have to do is scan the documents and email them directly to the supervisor who will then forward them to the underwriter and his supervisors and will get back to me within a week.

Regardless of the outcome of this new re-submission, I hope my updates helps others similarly situated. I have also started the process with NACA and they have also requested my husband's entire financial picture before submitting. The NACA negotiator actually said she will keep my file rather than sending it back to the pool and told me to email her as soon as I faxed in my missing information. She will then call me to go through the new information and then submit if everything is in place.

One negative about NACA though, which I guess should be the least of my worries, all things considered, is that I got an alert from my Citi Credit monitoring service that they made an inquiry through Experian on my credit file today. It apparently is a hard hit as compared to Chase's soft hit which does not show on my file.

[AACPA]

They need to use his adjusted gross income since he is self-employed with his own business (complete with employees, office rent, advertising and other expenses. They now want me to provide my husband's income (banking statements showing his deposits and his expenses as well as his financial worksheet). According to the supervisor, as soon as she receives the information from me, she will forward same to the underwriters to see if we can get a different outcome. She promised to get back to me with a response next week.

Good luck with that. What Chase will probably do is tell you your husband's business expenses are too high, disallow them which will make your income seem higher than it really is and then deny for "no hardship". That is exactly what they did to me.

[AACPA]

Wanted to add they disallowed my payroll expenses (told me I could do the work myself) for my employees that make $9 an hr and also my leased office space (even though without it I can't be in business since running the business from my house violates my city's zoning laws) but I digress.....

[MAXIE19]

You may be right, AACPA. However all I can do is try. As the church saying goes, "people do not fail, they just stop trying".

Anyway, he has a franchise business that cannot be operated out of his home under his franchise agreement. Also, I am already using the home office, so we can't both use it.

[AACPA]

I think it was just a bogus excuse for Chase to deny me the modification. First, they deny me for “insufficient income” and than when I point out that they didn't actually look at my P&L's they come back with "no hardship" with the reasons I explained in my other post. It is neither lawful nor possible for me to run my business out of my home either, nor is it possible to pull in the kind of revenue that my business does without the help of employees but Chase doesn't seem to get that. I do not see in the HAMP guidelines where they can arbitrarily decide which business expenses are valid and which are not. My employee’s pay rate is within industry standards for the business I am in, and if anything, is on the low side. I too, am hoping that NACA can help me. Yes, my loan was already modified once with Chase, that payment was still unaffordable to me, and Chase knew it from the get-go. Nowhere in the HAMP guidelines does it say that a borrower is ineligible for a modification under this program just because he/she had a modification previously through Chase’s in-house program. I believe Chase has broken the rules set forth by the HAMP program by falsely denying my application with bogus reasons. The problem is, I just don’t know what to do about it.

I hope it turns out for the best for you, I really do. I just wanted to make you aware of what Chase had pulled on me so that you can be on the look out for it.

[MAXIE19]

AACPA: On another note, have you completed your NACA filing........I started the process three days before I received the first denial. Had my first telephone interview yesterday and they have pulled my credit to verify my expenses already.....they need me to submit some additional documentation.....will see where that road leads....

[MAXIE19]

Finished scanning all the documentation requested along with my two modification proposals, one at 3% and the other at 3.25% with both showing positive NPV test results and emailed to the supervisor. Now awaiting their response.

[MAXIE19]

Just received my long awaited denial letter from EMC/Chase. Had to go through the ET to get it. The document indicates that there are ten possible reasons why Chase could deny your mod app under the MHA program. Here they are in listed order with the meanings that I have personally attached to them. Feel free to provide your own interpretations.

". We are unable to verify occupancy of the Property. (Translation: not sure)
. Your income exceeds the maximum for our lending program. (Translation: your mortgage does not exceed 31% of your income)
. Your hardship is not of a permanent nature. (Translation: catchall phrase)
. Your income is insufficient for the amount of credit you have requested.
(This was checked for me) (Translation: Your income does really qualify, however, it does not matter since we are not following the govt guidelines and so will not offer you the 2% for 40 years that the guidelines stipulate).
. Your application has been denied by the investor. (Translation: catchall phrase)
. Your mortgage insurance company has denied your request based on their requirements. (Translation: catchall prhase)
. Your application is incomplete. (Translation: we have lost the copies you sent us so many times that we feel it is fair to shift the blame and make you responsible for our negligence)
. You have failed to make all the required Trial Period payments. (Translation: By this do they mean the three trial period payments in the agreement or the 6 payments the borrower was forced to make due to their lack of due deligence in processing the permanent mod on a timely basis).
. Your property equity exceeds our program guidelines. (Translation: Don't bother us unless you are at least 50K underwater, maybe 100K).
. The documentation you submitted contains asset information that makes you ineligible for the program requested. (Translation: If you reveal how much stocks and bonds and other liquid assets you have based on our inquiry, trust that you will be denied).

As earlier stated, feel free to provide your own interpretations to these really subjective, arbitrary and capricious determinations.

Still waiting on their response to my re-submission that included my husband's income and raised our AGI by $1500.00. Was resubmitted last week Monday, as of today, still with underwriter. Not sure what to make of this as the first resubmission was denied within four days.

[cliffdweller]

Maxie,
I don't have any words of wisdom for you...just want you to know that I'm sending cyberspace prayers your way! Your persistence is bound to pay off somehow.

[MAXIE19]

Thanks Cliff for your words of encouragement. I do have some updates that can be taken as positive.

UPDATE: ENCOURAGING DEVELOPMENTS ON TWO FRONTS

NACA:

Prior to today, my NACA appts had not gone very well. The reps appear at a loss on how to deal with my file. They kept telling me that I make too much money and that my mortgage was affordable and my only choice was to stop paying on my credit cards.

Based on the information from this forum, I contacted Mr. Kevin Winn from NACA last week, Thursday. He called me back the same day. We talked and I tried to explain my plight to him. He promised to review my file in detail and to call me back the next day, Friday. He did not but sent an email saying he would call on Monday. He did not call Monday, however, I had another previously scheduled phone session with another NACA rep who called three hours after the scheduled time. Needless to say, my phone session with her did not go too well as she read of the notes or put me on hold to consult with the previous rep and came back and regurgitated the same old line to me.

To make matters worse, Mr. Winn did not call or write with regards to our anticipated phone conference, yesterday. This morning, before leaving for work, I sent him an email around 7:46 am pretty much stating my frustration with the NACA process so far. See below:


"Hi Mr. Winn:

How are you? Don't mean to be a bother. Did not hear from you as planned yesterday. Could you please take a moment and look at my file and call me later today to discuss. I am really anxious about this and believe two isolated good months (Jan 2009 for me and March 2009 for my husband (when he received his annual bonus and paid off a lot of debt) may be clouding our financial picture). Take those two months away along with all the other bills not reflected on the NACA worksheet (i.e. the high cost of maintenance for this house, repairs run in the thousands, an average of $1500 a month when you add cleaning and lawn mowing services since this is also my home office) and you will see how much we are struggling and robbing Peter to pay Paul.

To qualify for a modification under MHA, the guidelines call for mortgage payments over 31% (which we meet, our mortgage payments are nearly 50 % of our income) and a demonstrated hardship (which we also meet in that we have seen a significant reduction in income of about 90K combined from 2007 to 2008 and continuing to 2009. Also, we have been accumulating additional debt in order to keep up with our mortgage payments.)

The NACA reps keep telling me that our mortgage is affordable, however MHA does not deem mortgages that take up close to 50% of your income affordable, especially in light of our other debts and obligations. To be affordable, MHA requires that the bank reduce the payments to 31% of gross income bearing in mind that we have other needs and obligations. The NACA reps also keep telling me that our combined credit card debts are excessive and to stop paying the cards. However, the MHA plan does not place any limit on the amount of other debt that the borrower can carry just that the borrower be required to go for counseling if total debt i.e. front and back end debt exceed 55%. Ours does. Also telling me to stop paying on my credit card and other debt is not a sustainable solution to our financial crisis.

I do understand that we are probably not your average NACA client. However, the NACA website purports to help everyone without any regards or limits on the amount of your mortgage or income.

It is also funny and ironic that we are being told by the NACA reps that we make enough money to pay our mortgage while EMC/Chase is telling us that our income is insufficient. See attached August 5, 2009 letter from EMC/Chase.

We really need help. Please help us. If you can't help us, please let us know. Our next course of action is to contact Mr. Bruce Marks as we believe the guidelines are being mis-applied. Thank you so much."



Needless to say, approximately an hour later, at about 8:53 am, on my way to work, my cell phone rings and it is Mr. Winn. He tells me that he had the chance to thoroughly review my file last night and does not think that we make too much money and in fact thinks he can submit for a loan mod payment of approx $6K. Our current payment is currently 10K. He also requested that we send him our 2009 YTD profit and loss statement as the usual NACA financial forms do not present an accurate picture in our case. He noted that due to our complicated financial picture and tax schedules that our case was a little bit more complex than what the NACA reps were used to dealing with. He stated that because of the complexity of our case, that he would be the one processing our file and submitting to EMC Chase but stressed that we need to send in the YTD P&L statements to help facilitate a favorable response. The conversation really ended on a good note and I have DH working on the P&L.

EMC/Chase

Also, got a call today from the supervisory ET rep. She called to say that the underwriter was seeking clarifications about some line items in my submission. I clarified same for her and she also informed me that the underwriter now wants an updated financial expense form for the entire household to be jointly signed by myself and my husband. I reminded her that my husband was not on the loan and argued the guidelines to her. She replied that it does not matter as they were considering our income as household income and so want the entire household expenses as well including my husband's. She reminded me that I did not qualify on my own and that this was the only way to move my file forward.

I then asked her whether things were looking up for me and she demurred and said she does not know but that she was working hard to push this through for me.
At the very least, I consider this a positive development because I have not been summarily dismissed or denied as in the past. Will send her the updated joint financial forms and will update when I hear back from her.

I am so grateful for the wisdom that I have gleaned from this forum that has allowed me to continue to fight to save our home.

[Questions]

Hi Maxie-

So happy things are looking up for you. Good luck with everything. Is there any way you can message me Mr. Winn's email address? I have had one call with him and he is super helpful but it turns out that I need to contact him again. I prefer email so this would be great. Just let me know if you can supply the email address.

Thanks and good luck again!

[MAXIE19]

No problem. Glad to be of help. I used his first initial and last name. kwinn@naca.com. To maximize our individual chances of success, please do not refer to the contents of my correspondence with him or use similar language or thought process as in mine when communicating with him. Good luck. Thanks.

[MAXIE19]

UPDATE:

KEVIN WINN IS AN ANGEL

Provided the P&L statements for DH and moi to Mr. Winn on Thursday, August 20, 2009. Sent him an email this morning to verify that he received it and to determine if he needs any other information prior to submission.

Got a response back from him a couple of hours later, around 10:00 am this morning, informing me that I will be submitted today. Checked the website and my status has changed to submitted: 8/24/09.

Kevin Winn is my David L. In spite of the negative comments and bashing that NACA has taken lately on this forum, I am truly impressed. He took a complex file comprising of two self employed people with all the schedules you could possibly imagine in their federal tax return and not only simplified it, he also submitted the file in record time. Count me in as a believer.

For those of us who have had some negative experiences with NACA, remember this. The bottom line is that in every organization, there are "good seeds" who truly wish to help and there are the "bad seeds" who do not care about your plight and just want to receive their paycheck every two weeks.

What ever he did ended up increasing our gross income from the amount we submitted. No matter though, the best part is that he submitted us for $6016 (PITI) fixed for the remaining term of 27 years. We currently pay $9974 (PITI). This will truly change our lives if approved by Chase.

Above all, everyone, do not forget your prayers as you navigate this process. When all else fails or appears bleak, divine intervention remains possible.

[MAXIE19]

CITIBANK'S GREED MAY END UP COSTING THEM IN LOST PROFITS

I pray that I get this loan modification soon as the finances are getting tighter every day. Have not been able to afford the kids' weekly camp fees and so my husband and I have had to split child care duties. Since I have a home office, they stay home with me on days when my job responsibilities do not take me outside of the house. However, when my work demands are such that I can't take them with me, they go to their father's office and stay in his conference/break room watching TV or reading a book, waiting until I can pick them up. School starts next week and the after care payments start again.

While stretching every last dollar, I paid my Citibank credit card bill late by two days this month. It was due on the 11th and paid on the 13th. I have a promotional rate of 3.99% on a balance of about $20,000 accrued last October 2008 when I had to rely on my credit card to pay the amount due on my federal income taxes. When I received my Citi statement yesterday, I got the biggest shock. My rate had been raised to a rate of 25.99% and they also charged me a late fee of $39.00. My mininum payment went from $301 to $686 in one month. This is a card that I have had for over 18 years with an excellent payment history and a credit limit of $27,500.

I called them in a bid to resolve the situation. The rep was able to reverse the late charge of $39.00 but had to place a "referral" to have my file evaluated by a supervisor to see whether I could get my promotional rate of 3.99% back. He said to call back within 24-48 hours to see whether the request was approved.

Incidentally, I also received a balance transfer that day on one of my Bank of America credit cards with a limit of $21,000 and a zero balance. Not satisfied and not knowing what Citi's response would be and to stop the finance charges from accruing, I went to the nearest Citi bank center and used one of my Bank of America balance transfer checks and paid off the Citi balance.

I called Citi today to see whether they had reversed the finance charges and restored my promotional rate back. The rep that I spoke to reviewed my file and came back that the request was denied. I asked her why and she said that it was based on their review of my account history. Of course this was funny to me as my account history with them as well as my credit history is nothing but stellar. I demanded to speak to a supervisor and she made one available.

I explained my situation again to the supervisor and he told me to hold on and immediately reversed the finance charges and had my account revert back to the promotional rate of 3.99%. It barely took 2 minutes. Persistency is the key in dealing with these people. Do not take no for an answer especially when you have the facts on your side.

The best part of the conversation is not only did I get my 3.99% rate back, I also now have an offer to transfer another balance to the card at a rate of 1.99% good until 11/01/10. The supervisor asked me if I wanted a check sent to me covering my remaining balance limit. Of course I declined. I intend to wait until the payment from Bank of America is posted on my Citi account, leaving me with a "0" balance and actually a little credit of about $381 from the reversed finance charges before taking advantage of the balance transfer to once again transfer their balance back to them but pay them the reduced rate of 1.99% rather than 3.99% - an indirect modification for lack of a better term. Their greed will end up costing them profits from the reduced finance charges. In trying to make close to $700 a month from me, they will now end up only getting about $200 or less when all is said and done for the next 14 months.

[Marie T]

Maxie - I just read your post and so happy for you that you got the interest rate lowered!

I have not called Kevin Winn yet but after reading your posting I may do that. I have discovered that the person at NACA I met wih who input my info (that I was only able to pull up what she submitted last week) made a couple of huge mistakes so when, and if, it ever gets to WAMU, it will be thrown out as the errors are so obvious. Several mistakes - example: my total net income is listed as (example) $5,000 month and total gross income as $600 month. Credit card payments are about $1,000 over what it should be and more errors.

After trying to get through to NACA via phone, fax and email for almost two weeks now to tell them of ths error, I finally today stayed on hold with NACA for almost two hours. I have a phone appointment two weeks from now with a NACA counselor so do you think I should wait for that or call Kevin?

[MAXIE19]

Marie:

Because time is of the essence, I would attack this problem from all angles. Since your phone app is 2 weeks away, I don't see how it would hurt to try to expedite matters by contacting Kevin. He is truly wonderful and due to his supervisory role may be able to do more for you than the counselor.

[Marie T]

Thanks Maxie....Okay, I left message earlier today for Kevin Winn and I am out all day tomorrow so will probably be Monday now.....

[Marie T]

Hi Maxie,

Thank you soooo much for the nudge...I am amazed ...Kevin Winn actually called me back very late just after I arrived home so it felt like it was meant to be! I have refaxed the documents they were missing and I might even hear back from him by Monday. I am praying that he can help me here. Yes, I do pray all the time that I will get an affordable modification and in the same prayer I thank God for everything we do have!

I have realized lately that I have been very depressed about this whole thing and maybe venting when I should be more positive as I truly believe from all my life experiences that we attract whatever we end up getting by our own beliefs and thinking. I have been uplifted by your posts and I want to let you know how much I appreciate you sharing.

[MAXIE19]

Marie:

I am so glad you called him. Hang in there. We shall all prevail. Here is another inspirational quote that I found on Friday when my spirits were a little bit down.

~~~~~~~~~~~~~~~~~~ PEACE of MIND Restlessness and impatience change nothing except our peace and joy. Peace does not dwell in outward things, but in the heart prepared to wait trustfully and quietly on Him who has all things safely in His hands. - Elisabeth Elliot

[Marie T]

I am hanging in!! I went to the NACA website and really studied everything. On the Home Save Solutions they are listing the three options to save your home - I think what I want is a Restructure...not a Modification. What I got from WAMU/Chase was a Payment (Repayment) plan and NACA does not advise this for my situation which is not temporary or having an affordable payment.

I am wondering what NACA will say about me being behind on my credit cards although since they advised you before not to pay yours, maybe it's not an issue.

That is a great quote - thanks!

[Marie T]

Hi Maxie,

Still waiting to hear back from Kevin now that I refaxed all the documents last week...I am sure the poor man is swamped!!! I have an appointment today that I had set up about two weeks ago with the non-profit that had referred me to Chase Homeownership Center months ago. They said I could meet with them and they would bypass the Homeownership Center and try to call the negotiator at Chase directly but now I am debating about keeping the appointment as I have since connected with Kevin????? What do you think.... I do not want to upset the apple cart since it seems like Kevin could possibly help me but on the other hand I'm not even sure that any of these folks at Chase ever know what anyone else there is doing so maybe it doesn't matter.

I also figured out that I do not want a modification according to the terms on the NACA website....I want a restructure so I need to start using the proper word. Do you think what NACA submitted for you is at 2% for the life of your loan? If you go on the NACA website and watch some of the news clips, that seems to be what about everyone is getting when they go to the NACA home save events...none scheduled in my area anytime soon or I would do that!

[MAXIE19]

Marie:

I am all for attacking a problem from all angles. However, what is the track record of this non-profit organization. Make sure that their work will not conflict with what you have going with NACA.

With the Obama plan, NACA told me that they do not really dictate the terms. All they do is to submit you for a specific monthly payment for the life of the loan and leave it up to your lender/servicer to determine the interest rate and term to achieve the proposed payment. When I plug in the amount submitted, I can achieve the modified payment amount of $6016 through various combinations without a principal forebearance, for example, 2% at 363 months or 3% at 457 months. Of course I prefer the 2% at 363 months.

[Marie T]

Hi Maxie - I did keep my appointment, not sure what their track record is but I mostly used the meeting to try to get info and had some limited success with that. Most of these non-profits are more used to working with folks who do not have the earnings (even though reduced now) or the mortgage amount I have. I decided in the meeting not to have them call Chase today because I do not want to risk anything I might be able to accomplish through NACA. He did run through all my figures and thinks they must have input it wrong to have increased my payment.

He was not very encouraging other than after I told him the particulars of my l"bait and switch" loan he said I should find a good attorney and maybe I could get their attention with that.

I realized this afternoon the reason I have not heard back from NACA is because my fax must not have gone through (you can see on the NACA website the dates of document submission) so just to be safe, I refaxed and left Kevin a message.

That makes sense - I was figuring you were at a 2% with what you said so that would be great!~