Question about NACA.

[priv8pilot]

I know this is not Chase related but Chase is who I am fighting with so I wanted to ask this here. A few weeks ago The NACA came to Las Vegas. In talking to a few people I know that were trying Loan mod thru there banks and they told me they drove in to Vegas from California and attended The meetings out here. The 2 Californians said they were seen and told that they were getting a permanent modification. I said trial payments and they said nope they were told they were approved and getting the modification. They were told what there new payments were and everything. One of them had a 2nd of 80k written off 5 months ago on the same house. So my question is has anyone heard of anyone getting a permanent mod thru NACA and it actually went thru? Locked up, no trial payments or trial payments already made and done? If it is a fact that you can go to a meeting and have the NACA look at your paperwork and make a call and secure you a permanent modification that same day then why are we not seeing anything from Chase??
Steve

[davephx]

All NACA can do is submit the "solution" to the servicer. Rarely accepted but there HAVE BEEN some good NACA mods which are:

No trials - fixed interest but usually more than 2% - no extension of terms.

Pros and cons in here compared to HAMP. But if don't qualify for HAMP NACA solution can be good. Just very rare to actually have accepted by the servicer/investor

[MZWITHHOPE]

I know of someone who went to the San Francisco one and got approved now with a 2% to start. She didn't get approved on the spot. She had to wait about a week. She also has GMC not CHASE.

[the R]

In 2008 I got approved for a step mod with WAMU before they became Chase with the assistance of NACA. Took almost 11 months and a lot of follwo up with NACA but they got it done. The step mod would land me back in the same boat after the 2nd year so I'm in process to see if I qualify for a HAMP/MHA modification.

[Evan Bedard]

They were told what there new payments were and everything. One of them had a 2nd of 80k written off 5 months ago on the same house. So my question is has anyone heard of anyone getting a permanent mod thru NACA and it actually went thru? Locked up, no trial payments or trial payments already made and done? If it is a fact that you can go to a meeting and have the NACA look at your paperwork and make a call and secure you a permanent modification that same day then why are we not seeing anything from Chase??

I have seen many permanent modifications come from the help of NACA. It is very important to understand that only very few people will get approved at the NACA convention right then and there. There are thousands of homeowners that attend these events and it is quite rare to achieve a modification immediately without having to go through the entire process..

[devsrule]

I have just attended a workshop on 11/7 for NACA. It's a process which you can read about on their website. 10 total stages must be completed in the home save program. I am hopeful and that's what keeps me going. I will keep updates on my thread named "my story." I submitted a reply which has not been posted yet. Hope this helps a little.