What do i need to do?

[sanny]

So, yes, we are one more horror story related to CW, although our horror is just begining. Our original loan with Quicken got sold to CW 4 years ago, and i remember telling my hubby that if we ever experience any issues, we will not have anyone to call, because CW had bad reputation even then. We have 195,000 mortgage at 6.37% fixed, 30 years. Our payment with everything included was 1400 a month, and everything was going fine. My husband used to make 1100 per week. Then in October of 2007 his paychecks went down to 800, and we started living on a thight budget, with not much left overs after all the bills are paid. I managed to find a part time job which paid next to nothing, but our income decline just got worse over the months. My husband is now down to 400 or 500 a week. I still work at the same place because of the flexible schedule, so i can pick up my kid from school , but my hours got cut down as well last month.
We always paid our mortgage on time, but back in february when we almost didn`t make it, we decided to call CW. We got to have a nice chat (yeah, right) with some woman from India with knowledge of English which equals zero. I couldn`t understand a thing. Call went on for an hour, she was rounding up our income and expenses as she saw fit, just to tell us that we don`t have any options in the "computer", and we just made our february payment on time, so per her, we will be fine.
I kept saying that we need help before we ruin our credit, and she kept repeating :"No one will take your house".
Then i finally broke into tears called her a name and hung up.
So, of course, march 1st comes and goes. We weren`t able to make a payment. Even if we went completely without food, we wouldn`t be able to pay them, and there is no way i would make my family suffer because of CW. My realtor gave me some numbers to call, mainly her loan officers who do loan mods, but i suppose they all want money in advance with no guaranteed results. I still haven`t called CW. I don`t think we`re officially late until the 16th of march. I have NACA`s office address in Phoenix, and ACORN`s as well.
I am at loss what to do next. Should i wait few more weeks before i call CW? Should i write hardship letter? I can hardly believe anyone even reads them.
I just don`t know what to do next or when? Is it too soon to contact NACA or write that hardship letter? My guess is that i should probably wait to be denied help from CW before i proceed any further.
This is hard for everyone, but my family and i had it really rough since 1993, as refugees of war. We already lost our family, friends, home and country, and after so many years of trying to make it here, we are about to lose our home once more. Because we got stuck with Countrywide.
If someone could tell me what my next move should be, i would greatly appreciate it. Thank you for reading.

[Cassietw]

I would definitley contact NACA. That is the route I am going. I have tried to work with Countrywide for over 6 months now only to be told the same thing every time. The "Computer" says no!

Good Luck!

[rozuki]

I just filled out the app online with NACA. Signed up for a workshop being given Apr 4th, 10 miles from my house. Also left a message with NACA to have a counselor call (I just couldn't hold on phone for 47 minutes for the next available counselor!). I will try calling them again tomorrow and see if I can catch a lower wait time to speak with someone.

I also have to send payment in to CW by March 16th or pay a late fee. If I don't pay by the 30th, I will officially be late. Since I am divorcing and stbxh is moving out April 1st, and he is having financial hardship with his business ...I cannot expect any money from him anymore. Luckily, I make a good salary and my job is pretty secure for now.....

I contacted CW in October 08 about a loan mod, received my 1st loan mod package 2/28/09 (after being initially denied, then undenied after many phone calls to them). I called them and told them it was unacceptable. Then received a 2nd loan mod package today 3/9/09, that was worse! The CW loan mod program is a joke, doesn't even make any sense. When you call CW, if you get the India call center they just read the script (and hang up if you use a profanity! I know I made that mistake...oops ).

Here in the US, the call centers are not much better. It seems like no one at CW (Hope Team, Home Retention, Loan Mod group) can really provide any help......but you should call and provide them with information first, then go to the NACA website as others on here suggest. It can't hurt..... www.naca.com

[sanny]

I recieved an email informing us that the switch will be made this spring. I heard before that people having mortgages thru Bank of America had more luck doing home mods.
Do you think this will affect us in any positive way?

[Teamhockey]

Yes I do as I had a conversation with them today and was told foreclosures are on hold. See my posting.

[sanny]

We missed march payment, and there is no way we can make payments as they are any longer, which means we will keep missing them. Called CW back in february, while we were still current on the loan, they didn`t even want to consider the help of any kind. It was very unpleasant experience, and so far i haven`t contacted CW at all. They keep calling and leaving automated messages about us having to make a payment arangement.
We had a non profit organization lined up, and we kept our hopes high, but the guy keeps rescheduling appointments, he`s impossible to reach on the phone, and we keep losing days of work in order to try and make an appointment with him. That`s why i haven`t called CW, because i was hoping he is going to do that.
So i am done playing around and ready to go and call NACA. My question is:
Do i need to call CW first or i can go directly to NACA and schedule phone appointment?
We have fixed mortgage on 30 years and i know CW will do nothing about it.

[vicjohn]

My first recommendation is to get the process started with NACA as soon as possible. I wasted valuable time trying to negotiate with CW directly. My second recommendation is to keep your payments from going 3 months delinquent. This should allow NACA time to work on your behalf without being stressed about being foreclosed on as most foreclosures are initiated after 3-4 missed payments. NACA will tell you it takes them 60-90 days to negotiate, but could take longer in some situations.

[sanny]

We couldn`t pay just a portion of it. As soon as we got late few days, we got locked out of our account, and it says that minimum ammount accepted will be $1393, plus late fees, which is our regular monthly payment. We can afford a half of that right now. In order for me to pay them and keep my mortgage less than 3 months late, i need to save half of it in april, and second half in may, but in may i will already be in my 3d month of not paying, so will it even matter?
Or will they even accept one month? I am confused. Why would they initiate foreclosure after only 3 months? I thought NACA can stop foreclosure procedings.

[vicjohn]

sanny, check out my thread and there is also another thread within it that might give you more knowledge on what to expect.
http://www.loansafe.org/forum/countr...oned-naca.html

[sanny]

I was wondering how to start with NACA? I went to their website, but i got really confused. Do you need to go to workshop before you`re able to schedule phone appointment or any type of appointment, or this step can be somehow skipped? I am willing to go, i just wanna make sure i am on a right track.

Thank you all in advance!

[Moe Bedard]

If you go through the all the steps..........you should be able to schedule your phone counseling appt. without having to go to the workshop......

Here is the link to begin the process.........
https://www.naca.com/refinance/refin...?language=null

[sanny]

Thank you

[sanny]

Hello

I was wondering what happens in case you opt out for bankruptcy? Does house still goes into foreclosure and you end up having both on the credit report, or it`s gonna show BK only?
We are curently 2 months behind, and one of the non-profit organizations just took our case last week. In Arizona you can be 4 months behind before they slap the nasty sticker on your window, and let entire neighborhood know you`re about to be kicked out. We were told it`s going to take at least 60 to 90 days for them to try and modify our loan.
The reason i am asking about BK is that i just heard today that friend of a friend is looking for a new house, and he had BK discharged a year ago, with the house included. My husband and I also bought our house exactly 1 year after discharged bankruptcy.
It sound lots better than having to wait 5 years after foreclosure, but i am not sure if we would end up having both on our credit or not.
This is just in case that CW doesn`t go with loan mod.

[sanny]

I`ve signed up with Naca weeks ago, and i`ve been trying to schedule an appointment since, to no avail. When i enter the dates to search for next available it just erases my entries blank. Same with face to face appointments. I submited some docs online, and i need to fax aditional ones, but that can`t be the reason. I`ve recieved Notice of intent to accelerate today, and i am starting to panic. Local non profit organization i`ve thought i am working with is still asking for aditional document month later, and they still haven`t submitted anything to Countrywide. We are behind 2 months, and they want 3000 bucks from us. We can not afford it. Not even close. What do i do to make that appointment with NACA? Please, please help me...

[teenut]

try calling NACA or doing an online chat to see if you can make an appointment that way.