Can we re-start the process with NACA - Loan Modification Forum

kumar3245 · 07-15-2009, 12:54 PM

Hi,
I am in a deep soup now, I was verbally told over the phone that I'm pre-approved for a loan modification due to reduced income(wife lost her job). Today I heard that there is some problem with the way things are setup in the system and it is not approved but my account is coded with the modification- oh god.. I'm wondering if I Can re-start the process with NACA again, I'm afraid it they are going to reject me finally because I need to decline the banks offer of mod and go to NACA. This is really bad, I don't know what to do... please please help. I can't affort get more run around with approved/not-approved info from different agents.

Thanks

Kumar.

Evan Bedard · 07-15-2009, 01:53 PM

Hi Kumar3245,

Quote:

Hi,
I am in a deep soup now, I was verbally told over the phone that I'm pre-approved for a loan modification due to reduced income(wife lost her job). Today I heard that there is some problem with the way things are setup in the system and it is not approved but my account is coded with the modification- oh god.. I'm wondering if I Can re-start the process with NACA again, I'm afraid it they are going to reject me finally because I need to decline the banks offer of mod and go to NACA. This is really bad, I don't know what to do... please please help. I can't affort get more run around with approved/not-approved info from different agents.

Did you get denied or are you currently still in process?

kumar3245 · 07-15-2009, 01:59 PM

They say still in process, But I get different answers from different reps including the payment amount and due dates. They are not able to come up with a consistent answer which makes me worry that they will drag it along as long as they can and finally say no sorry....

Thanks

Kumar

kumar3245 · 07-15-2009, 02:04 PM

Will they deny the modification if I say no to the MHA and go to NACA intstead, I don't even know if I'm in the process..Instead of waiting indefinitely I would like to stop the mod process with the Bank and go to NACA

Thanks

Kumar

kumar3245 · 07-15-2009, 03:00 PM

Moe/Evan & ALL ,
What is your advise? Should I start over with NACA and tell CITI to stop the mod process(or no process) they are putting me thru'

Thanks

Kumar

Evan Bedard · 07-15-2009, 03:18 PM

Hi Kumar,

I believe there will be no problem going through NACA please give them a call and get you process started asap:

Here is the link to the site.

https://www.naca.com/index_main.jsp?language=null

Keep us posted on your progress.

CW California · 07-15-2009, 03:19 PM

You can do both at the same time Kumar and take the best offer.

Evan Bedard · 07-15-2009, 05:38 PM

True CW I do not see why that should be a problem..

07-15-2009, 12:54 PM	#1 (permalink)
kumar3245 Member Join Date: Jul 2009 Posts: 18 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Can we re-start the process with NACA Hi, I am in a deep soup now, I was verbally told over the phone that I'm pre-approved for a loan modification due to reduced income(wife lost her job). Today I heard that there is some problem with the way things are setup in the system and it is not approved but my account is coded with the modification- oh god.. I'm wondering if I Can re-start the process with NACA again, I'm afraid it they are going to reject me finally because I need to decline the banks offer of mod and go to NACA. This is really bad, I don't know what to do... please please help. I can't affort get more run around with approved/not-approved info from different agents. Thanks Kumar.

07-15-2009, 01:59 PM	#3 (permalink)
kumar3245 Member Join Date: Jul 2009 Posts: 18 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Can we re-start the process with NACA They say still in process, But I get different answers from different reps including the payment amount and due dates. They are not able to come up with a consistent answer which makes me worry that they will drag it along as long as they can and finally say no sorry.... Thanks Kumar

07-15-2009, 02:04 PM	#4 (permalink)
kumar3245 Member Join Date: Jul 2009 Posts: 18 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Can we re-start the process with NACA Will they deny the modification if I say no to the MHA and go to NACA intstead, I don't even know if I'm in the process..Instead of waiting indefinitely I would like to stop the mod process with the Bank and go to NACA Thanks Kumar

07-15-2009, 03:00 PM	#5 (permalink)
kumar3245 Member Join Date: Jul 2009 Posts: 18 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Can we re-start the process with NACA Moe/Evan & ALL , What is your advise? Should I start over with NACA and tell CITI to stop the mod process(or no process) they are putting me thru' Thanks Kumar

07-15-2009, 03:18 PM	#6 (permalink)
Evan Bedard LoanSafe.org Homeowner Guide Join Date: Aug 2007 Location: Southern California Posts: 2,168 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Can we re-start the process with NACA Hi Kumar, I believe there will be no problem going through NACA please give them a call and get you process started asap: Here is the link to the site. https://www.naca.com/index_main.jsp?language=null Keep us posted on your progress. __________________ Keep Fighting! Evan Bedard LoanSafe.org Support Team Please donate via paypal to LoanSafe.org to help keep this forum going The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Please Read our Privacy Policy and Legal Disclaimer Here.

07-15-2009, 03:19 PM	#7 (permalink)
CW California Senior Member Join Date: Feb 2009 Location: SoCal Posts: 1,127 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Can we re-start the process with NACA You can do both at the same time Kumar and take the best offer.

07-15-2009, 05:38 PM	#8 (permalink)
Evan Bedard LoanSafe.org Homeowner Guide Join Date: Aug 2007 Location: Southern California Posts: 2,168 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Can we re-start the process with NACA True CW I do not see why that should be a problem.. __________________ Keep Fighting! Evan Bedard LoanSafe.org Support Team Please donate via paypal to LoanSafe.org to help keep this forum going The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Please Read our Privacy Policy and Legal Disclaimer Here.

Thread Tools
Show Printable Version Email this Page
Display Modes
Linear Mode Switch to Hybrid Mode Switch to Threaded Mode