countrywide modification process

morainac · 05-19-2009, 06:03 PM

I trying to get a home affordable modification with countrywide. I was told that BOA executives have approved the loan documents and now the investor Fannie Mae needs to approve it. Is this how the modification process works? Then I called a few days later for an update and the rep. said that my loan is still under review and she dont see anything re: a loan approval or documents being sent to Fannie Mae.
Today the rep. said that my workout was in the final stage of review but she did not see anything re loan documents. She advised me to check back later this week. I dont know if I am getting closer or if I am getting the run arounds. Does anyone know?

rkel11 · 05-20-2009, 07:50 AM

morainac,
I am dealing with NACA so I'm not sure what your process should be. How long have you been talking to BoA? Sounds like you are at least getting to talk to someone that knows your file. I would look at NACA for a backup just in case. I'm sure you will get a better answer from some of the more experienced people on here.
Good luck!!

Andrew · 05-20-2009, 01:45 PM

That sounds about right and is a good sign. Usually when its submitted to the investor, it has roughly 7-10 business days left. But rememeber due to volume it could be more like 14 business days.

morainac · 05-20-2009, 04:19 PM

Thank you for that information. That makes me feel better considering I started this process in 01-09. Back then cw told me that I qualified for a forbearance. When the mha mod came out I faxed another hardship letter on 4-21-09 stating that my husband lost his job and the home affordable modification would be a long term solution and a forbearance would not. I call for updates at least twice per week and I check my account online everyday. I called fannie mae to check on the status of my loan docs. They said due to the high call volume someone will return my call in the order that is was received. Now I guess it is a waiting game.

morainac · 05-27-2009, 10:33 AM

Hello. A cw rep told me that my loan modification was in its final review stage. I receive a call this morning from boa home retention to call back. I call back and the rep. do not know why they called. I am very concerned. What should I do? Is there anyone I can call? I dont want my workout to be cancelled.

Confused! · 05-27-2009, 10:52 AM

Wish I could help! They have always told me they can't tell what stage mine is in, only that it's in review. So that sounds like positive news for you, I think! Good luck!