Question about Sale date and CW - Loan Modification Forum

sandbchristy · 05-05-2009, 03:58 PM

I've been lurking about here for a couple of weeks now, after being denied yet another mod through CW. I have started the enrollment with NACA as of today. My question is this, I have a sale date of 7/2/09, will it benefit me at all to attempt to update financials (yet again) with CW in the hopes of being pre-approved for a mod to possibly postpone this sale date....even though I fully intend to use NACA?

Also, I just want to thank all of you here. I'm so overwhelmed and it helps to see that I'm not alone. Keep it up! It may be too late for me but you are helping so many people!

DaniB. · 05-05-2009, 04:18 PM

CW will not postpone your sale date until about 2 weeks prior to it no matter how much information you send them. We have a sale date of 6/9 and in the middle of a mod right now and I got the same answer.

Also, I would go ahead and send everything in to CW again and keep records even though you are going through NACA. It doesn't hurt especially with CW because the left hand rarely knows what the right hand is doing. I've come to the conclusion that it is better to overwhelm them with the same info than have your mod caught up in "we don't have (insert doc here)." Trust me, it will save you lots of headaches! Good luck!

sandbchristy · 05-05-2009, 04:23 PM

Thanks DaniB. I know exactly what you mean.... It's gotten to where the more helpful the CW "agent" is, the more discouraged I become. I've yet to hear the same story twice.

I alternate between hysterical laughter and despair.

DaniB. · 05-05-2009, 04:38 PM

Yep, I hear ya! We've been going through this since the first part of January. I alternate between thinking everything is going to be ok to thinking everything is just going to crumble right out from under me. It's a good thing I don't drink otherwise I'd be a raging alcoholic by now!

Hang in there though...NACA should be able to help.

vicjohn · 05-05-2009, 05:07 PM

You can read the challenges I had getting my sale date postponed under my thread. It has been postponed two times. Has Anyone had sale date postponed by NACA?

sandbchristy · 05-05-2009, 05:31 PM

Thanks vicjohn. My husband is ready to go find someplace to rent... we want to save the home, but are totally terrified of what will happen if we are still here when the sell date goes through... We have so much stuff! All this time we've been dealing with CW I thought (ignorantly) that we would be able to work something out... it would benefit them for us to keep our home...right? I think I finally realized that we are probably going to lose our home. I just don't know if I have the stamina to hang in there...

sarge · 05-05-2009, 05:50 PM

Hi sandbchristy,
You should have plenty of time to get things well under way. Since you have started the process with NACA they will work with you to postpone the date. It does appear from all the threads I read here that they will wait till crunch time to get it stopped. Easier said than done but don't let this get you stressed out. I couldn't sleep at night for 3 or 4 nights as our situation worsened and the phone rang constantly. I hated to even come home after work. I came to realize though that making myself sick with worry wouldn't help. Since I started lurking here on this site, I have seen lots of people who have worse situations than us and have been able to save their homes. I think finding LoanSafe and NACA have been a Godsend and have told many people about them and hope to soon be a success story myself. Good Luck to you and stay strong.

vicjohn · 05-05-2009, 05:58 PM

You are not alone with your feelings. Ensure you have noted your sale date on naca's website. Don't give up and be persistent with cw and naca. Just be careful, cw told me that if I wanted to discuss a cw mod I would have to cancel my naca agreement first. I personally would stick with naca as the terms are much better (they are proposing 8.25% fixed to 4.07% fixed) and I was submitted 2/27. It might go down to the last day with getting your date postponed, but I believe the loss of sleep, loss of appetite, stress, crying, panic attacks, etc.

will be worth it in the long haul. haha...you also have to have a sense of humor when dealing with cw!

sandbchristy · 05-05-2009, 07:35 PM

If it hadn't been for this site and those of you who post I would have completely lost hope! Thanks so much for your encouraging words and advice!

lostinlife · 05-06-2009, 08:07 AM

I got my offer from CW today via the phone with my negotiator, payments from 747.90 to 997.90 and loan extended from 1/34 to 5/37 and they did not change interest rate. I swear how is this going tohelp us? Plus they want 5k up front. I don't know what to do. Borrow the 5k and pay them and take the deal or wait for naca and pray they can get us a better deal. I am afraid of loosing my house, sick over this.

Rumor · 05-06-2009, 08:21 AM

Lostinlife...

Is this the first loan mod that they've offered you? When were you submitted by Naca?

lostinlife · 05-06-2009, 08:24 AM

yes 1st mod offer naca submitted 2 wk ago

Rumor · 05-06-2009, 08:35 AM

Oh ok, It seems like they offer everyone that same deal for the 1st mod. We just refused ours that also increased our payment and we went back into review status but I did get a guy to call me back regarding our account on Friday and Monday and he said that he would make sure we get something back. I toldhim that I want the Naca deal because it's realistic as to what we can afford. He said he'll know some updates in about a week. Can you speak to them and see if they can offer something else? Or if you really are going to take it, tell them to waive the 5K so you don't borrow it and get in a hole owing someone else the money. Try to negotiate with the negotiator....

lostinlife · 05-06-2009, 08:40 AM

I am just afraid that we refuse it and with the sale date of 6/24 we will be out on the streets

lostinlife · 05-06-2009, 09:01 AM

okay I have been sitting on hold for the live chat with naca for almost 2 hours and no answer. It now says that online chat is offline do I give up and leave or still wait?

Rumor · 05-06-2009, 09:03 AM

I know..I bet. we don't have a sale date yet but it's nags me all day that we might get one soon. Saying I'm extremely worried is an understatement. Have you told Naca about your sale date? They might be able to postpone it under their deal comes thru.

lostinlife · 05-06-2009, 09:05 AM

naca knows about the sale date they wont try to stop it until a couple of weeks before the sale.

Rumor · 05-06-2009, 09:11 AM

She sometimes answers the online chat even if you caught her while she was online and then she signed off. I think it depends on how many chats she has going. Sometimes, she doesn't answer at all. Try again later..she gets on in the afternoons also.

lostinlife · 05-06-2009, 09:14 AM

she did take me

kateistired · 05-07-2009, 07:06 AM

Lostinlife,

I got a similar mod from CW a couple of weeks ago. Our interest rate stayed the same, my payment went from 764 to 855 (+$90). The only difference is that they told us we didn't need any money upfront. I am surprised that they required you to give them 5k. I actually told them that I had 4k upfront funds (I had been saving my payments), and they told me to keep it.

I wonder (if you decide to accept this mod), if they would waive the down payment for you...

We have accepted our modification because I have no more fight left in me....I have heard of a lot of members having great success, though, with NACA. Hang in there

Whatever you decide, it seems like a good time to be applying for modifications.

lostinlife · 05-07-2009, 07:53 AM

I have a call into CW negotiator to see about getting the fee down or waived or something. I just dont have it. I can't see borrowing it either. I just dont know what to do.

sandbchristy · 05-07-2009, 10:12 AM

I have submitted the forms to NACA and scheduled three phone appts over the next 3 days.... I put it to have a 1pm appt time, but noticed that they have all been set at 2pm. My question is, will they call again if they miss me or at least try the alternate number. I pick my daughter up from school every day at 3pm... I just don't want anything to happen to slow this down!

zbasspro · 05-07-2009, 10:30 AM

Hey guys before accepting these crappy mods ask yourself if it is really a solution? I mean if you got behind before, and now your payment is going up is it really going to work out?

I sure don`t want to give someone advice that would cost them their home, but I am giving NACA every last chance. I just went down to the wire on a sale date of 5/11, it was removed 5/4. I really believe it`s just a big game with CW to see who caves in first. I refuse to. CW has to offer me a long term solution or else there`s no sense in accepting something that is gong to have me in the same position a year or 2 from now.

Good luck with whatever you decide,
Bob

sandbchristy · 05-07-2009, 10:54 AM

Bob,
You are so right! We fell into this with CW two different times. Once on a refi from our original ARM also with CW and then again last fall on their homesaver advance program where their solution was to stick us with the same payment but add another one for our past due amount. We panicked both times and accepted and we are right back where we started! We can't do it again. We need real help. I just wish I had known about NACA two years ago!

lostinlife · 05-07-2009, 12:04 PM

I got online yesterday with NACA chat after the CW call, she told me that they *CW* will try to get me to take the offer to get NACA out of the way. she called the offer BS. She said they are not above lying or playing games to trap you once again. I figured either I will keep my house with NACAs help or pack my bags and tell CW to stick it where the sun wont shine

05-05-2009, 03:58 PM	#1 (permalink)
sandbchristy Member Join Date: Apr 2009 Posts: 28	Question about Sale date and CW I've been lurking about here for a couple of weeks now, after being denied yet another mod through CW. I have started the enrollment with NACA as of today. My question is this, I have a sale date of 7/2/09, will it benefit me at all to attempt to update financials (yet again) with CW in the hopes of being pre-approved for a mod to possibly postpone this sale date....even though I fully intend to use NACA? Also, I just want to thank all of you here. I'm so overwhelmed and it helps to see that I'm not alone. Keep it up! It may be too late for me but you are helping so many people!

05-05-2009, 04:18 PM	#2 (permalink)
DaniB. Member Join Date: Dec 2008 Posts: 24	Re: Question about Sale date and CW CW will not postpone your sale date until about 2 weeks prior to it no matter how much information you send them. We have a sale date of 6/9 and in the middle of a mod right now and I got the same answer. Also, I would go ahead and send everything in to CW again and keep records even though you are going through NACA. It doesn't hurt especially with CW because the left hand rarely knows what the right hand is doing. I've come to the conclusion that it is better to overwhelm them with the same info than have your mod caught up in "we don't have (insert doc here)." Trust me, it will save you lots of headaches! Good luck!

05-05-2009, 04:23 PM	#3 (permalink)
sandbchristy Member Join Date: Apr 2009 Posts: 28	Re: Question about Sale date and CW Thanks DaniB. I know exactly what you mean.... It's gotten to where the more helpful the CW "agent" is, the more discouraged I become. I've yet to hear the same story twice. I alternate between hysterical laughter and despair.

05-05-2009, 04:38 PM	#4 (permalink)
DaniB. Member Join Date: Dec 2008 Posts: 24	Re: Question about Sale date and CW Yep, I hear ya! We've been going through this since the first part of January. I alternate between thinking everything is going to be ok to thinking everything is just going to crumble right out from under me. It's a good thing I don't drink otherwise I'd be a raging alcoholic by now! Hang in there though...NACA should be able to help.

05-05-2009, 05:07 PM	#5 (permalink)
vicjohn Senior Member Join Date: Mar 2009 Posts: 93	Re: Question about Sale date and CW You can read the challenges I had getting my sale date postponed under my thread. It has been postponed two times. Has Anyone had sale date postponed by NACA?

05-05-2009, 05:31 PM	#6 (permalink)
sandbchristy Member Join Date: Apr 2009 Posts: 28	Re: Question about Sale date and CW Thanks vicjohn. My husband is ready to go find someplace to rent... we want to save the home, but are totally terrified of what will happen if we are still here when the sell date goes through... We have so much stuff! All this time we've been dealing with CW I thought (ignorantly) that we would be able to work something out... it would benefit them for us to keep our home...right? I think I finally realized that we are probably going to lose our home. I just don't know if I have the stamina to hang in there...

05-05-2009, 05:50 PM	#7 (permalink)
sarge Senior Member Join Date: Mar 2009 Location: Coastal NC Posts: 307	Re: Question about Sale date and CW Hi sandbchristy, You should have plenty of time to get things well under way. Since you have started the process with NACA they will work with you to postpone the date. It does appear from all the threads I read here that they will wait till crunch time to get it stopped. Easier said than done but don't let this get you stressed out. I couldn't sleep at night for 3 or 4 nights as our situation worsened and the phone rang constantly. I hated to even come home after work. I came to realize though that making myself sick with worry wouldn't help. Since I started lurking here on this site, I have seen lots of people who have worse situations than us and have been able to save their homes. I think finding LoanSafe and NACA have been a Godsend and have told many people about them and hope to soon be a success story myself. Good Luck to you and stay strong.

05-05-2009, 05:58 PM	#8 (permalink)
vicjohn Senior Member Join Date: Mar 2009 Posts: 93	Re: Question about Sale date and CW You are not alone with your feelings. Ensure you have noted your sale date on naca's website. Don't give up and be persistent with cw and naca. Just be careful, cw told me that if I wanted to discuss a cw mod I would have to cancel my naca agreement first. I personally would stick with naca as the terms are much better (they are proposing 8.25% fixed to 4.07% fixed) and I was submitted 2/27. It might go down to the last day with getting your date postponed, but I believe the loss of sleep, loss of appetite, stress, crying, panic attacks, etc. will be worth it in the long haul. haha...you also have to have a sense of humor when dealing with cw!

05-05-2009, 07:35 PM	#9 (permalink)
sandbchristy Member Join Date: Apr 2009 Posts: 28	Re: Question about Sale date and CW If it hadn't been for this site and those of you who post I would have completely lost hope! Thanks so much for your encouraging words and advice!

05-06-2009, 08:07 AM	#10 (permalink)
lostinlife Senior Member Join Date: Feb 2009 Posts: 131	Re: Question about Sale date and CW I got my offer from CW today via the phone with my negotiator, payments from 747.90 to 997.90 and loan extended from 1/34 to 5/37 and they did not change interest rate. I swear how is this going tohelp us? Plus they want 5k up front. I don't know what to do. Borrow the 5k and pay them and take the deal or wait for naca and pray they can get us a better deal. I am afraid of loosing my house, sick over this.

05-06-2009, 08:21 AM	#11 (permalink)
Rumor Senior Member Join Date: Feb 2009 Posts: 442	Re: Question about Sale date and CW Lostinlife... Is this the first loan mod that they've offered you? When were you submitted by Naca?

05-06-2009, 08:24 AM	#12 (permalink)
lostinlife Senior Member Join Date: Feb 2009 Posts: 131	Re: Question about Sale date and CW yes 1st mod offer naca submitted 2 wk ago

05-06-2009, 08:35 AM	#13 (permalink)
Rumor Senior Member Join Date: Feb 2009 Posts: 442	Re: Question about Sale date and CW Oh ok, It seems like they offer everyone that same deal for the 1st mod. We just refused ours that also increased our payment and we went back into review status but I did get a guy to call me back regarding our account on Friday and Monday and he said that he would make sure we get something back. I toldhim that I want the Naca deal because it's realistic as to what we can afford. He said he'll know some updates in about a week. Can you speak to them and see if they can offer something else? Or if you really are going to take it, tell them to waive the 5K so you don't borrow it and get in a hole owing someone else the money. Try to negotiate with the negotiator....

05-06-2009, 08:40 AM	#14 (permalink)
lostinlife Senior Member Join Date: Feb 2009 Posts: 131	Re: Question about Sale date and CW I am just afraid that we refuse it and with the sale date of 6/24 we will be out on the streets

05-06-2009, 09:01 AM	#15 (permalink)
lostinlife Senior Member Join Date: Feb 2009 Posts: 131	Re: Question about Sale date and CW okay I have been sitting on hold for the live chat with naca for almost 2 hours and no answer. It now says that online chat is offline do I give up and leave or still wait?

05-06-2009, 09:03 AM	#16 (permalink)
Rumor Senior Member Join Date: Feb 2009 Posts: 442	Re: Question about Sale date and CW I know..I bet. we don't have a sale date yet but it's nags me all day that we might get one soon. Saying I'm extremely worried is an understatement. Have you told Naca about your sale date? They might be able to postpone it under their deal comes thru.

05-06-2009, 09:05 AM	#17 (permalink)
lostinlife Senior Member Join Date: Feb 2009 Posts: 131	Re: Question about Sale date and CW naca knows about the sale date they wont try to stop it until a couple of weeks before the sale.

05-06-2009, 09:11 AM	#18 (permalink)
Rumor Senior Member Join Date: Feb 2009 Posts: 442	Re: Question about Sale date and CW She sometimes answers the online chat even if you caught her while she was online and then she signed off. I think it depends on how many chats she has going. Sometimes, she doesn't answer at all. Try again later..she gets on in the afternoons also.

05-06-2009, 09:14 AM	#19 (permalink)
lostinlife Senior Member Join Date: Feb 2009 Posts: 131	Re: Question about Sale date and CW she did take me

05-07-2009, 07:06 AM	#20 (permalink)
kateistired Senior Member Join Date: Oct 2008 Posts: 159	Re: Question about Sale date and CW Lostinlife, I got a similar mod from CW a couple of weeks ago. Our interest rate stayed the same, my payment went from 764 to 855 (+$90). The only difference is that they told us we didn't need any money upfront. I am surprised that they required you to give them 5k. I actually told them that I had 4k upfront funds (I had been saving my payments), and they told me to keep it. I wonder (if you decide to accept this mod), if they would waive the down payment for you... We have accepted our modification because I have no more fight left in me....I have heard of a lot of members having great success, though, with NACA. Hang in there Whatever you decide, it seems like a good time to be applying for modifications.

05-07-2009, 07:53 AM	#21 (permalink)
lostinlife Senior Member Join Date: Feb 2009 Posts: 131	Re: Question about Sale date and CW I have a call into CW negotiator to see about getting the fee down or waived or something. I just dont have it. I can't see borrowing it either. I just dont know what to do.

05-07-2009, 10:12 AM	#22 (permalink)
sandbchristy Member Join Date: Apr 2009 Posts: 28	Re: Question about Sale date and CW I have submitted the forms to NACA and scheduled three phone appts over the next 3 days.... I put it to have a 1pm appt time, but noticed that they have all been set at 2pm. My question is, will they call again if they miss me or at least try the alternate number. I pick my daughter up from school every day at 3pm... I just don't want anything to happen to slow this down!

05-07-2009, 10:30 AM	#23 (permalink)
zbasspro Senior Member Join Date: Nov 2008 Posts: 75	Re: Question about Sale date and CW Hey guys before accepting these crappy mods ask yourself if it is really a solution? I mean if you got behind before, and now your payment is going up is it really going to work out? I sure don`t want to give someone advice that would cost them their home, but I am giving NACA every last chance. I just went down to the wire on a sale date of 5/11, it was removed 5/4. I really believe it`s just a big game with CW to see who caves in first. I refuse to. CW has to offer me a long term solution or else there`s no sense in accepting something that is gong to have me in the same position a year or 2 from now. Good luck with whatever you decide, Bob

05-07-2009, 10:54 AM	#24 (permalink)
sandbchristy Member Join Date: Apr 2009 Posts: 28	Re: Question about Sale date and CW Bob, You are so right! We fell into this with CW two different times. Once on a refi from our original ARM also with CW and then again last fall on their homesaver advance program where their solution was to stick us with the same payment but add another one for our past due amount. We panicked both times and accepted and we are right back where we started! We can't do it again. We need real help. I just wish I had known about NACA two years ago!

05-07-2009, 12:04 PM	#25 (permalink)
lostinlife Senior Member Join Date: Feb 2009 Posts: 131	Re: Question about Sale date and CW I got online yesterday with NACA chat after the CW call, she told me that they CW will try to get me to take the offer to get NACA out of the way. she called the offer BS. She said they are not above lying or playing games to trap you once again. I figured either I will keep my house with NACAs help or pack my bags and tell CW to stick it where the sun wont shine

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