Your Thoughts & Experience -

[lisasxr]

1st - I want to thank *** for her help in getting me registered. The name I wanted was giving me issues and she patiently answered all my questions! THANKS!!

2nd - Thanks for sharing all your experiences. I've been reading your forums for about 1 month and have absorbed a ton of information.

I called Countrywide/BoA on March 23 to let them know of a decrease in my DH's salary effective April 1. On April 2, I faxed over all the documentation for our hardship. Today is day 70, so I called to check in (Yes, I've been calling, but today got different news!)

Today I spoke with Tiana in the Home Preservation Dept. She stated that they are now ready to do modifications under the MHA policy. She requested that I forward a payment of 31% of my gross monthly income along with the hardship paperwork (again) within 48 hours to begin the review process. She stated the review process would take 45-60 days and then, if approved, there would be a 3 month trial period with the new payment.

That all sounds good - but my questions are this - If I send a payment NOW of 31% of my gross monthly income - does it get applied to my next payment due (Tiana states yes, but I don't truly trust and haven't been able to get another opinion yet today). Upon review, and trial period starting, is there credit reporting of late or non-payment due to difference in old/new payment. (She didn't know)

If you've any experience that you could share I'd appreciate it. NACA is our next route. We thankfully have come up with a way to make it through the end of the year - but January till be a different story if we can't get the modification. If we can get through this process NOW, the modification should be completed just before January!

[rozuki]

Originally Posted by lisasxr

That all sounds good - but my questions are this - If I send a payment NOW of 31% of my gross monthly income - does it get applied to my next payment due (Tiana states yes, but I don't truly trust and haven't been able to get another opinion yet today). Upon review, and trial period starting, is there credit reporting of late or non-payment due to difference in old/new payment. (She didn't know)

If you've any experience that you could share I'd appreciate it. NACA is our next route. We thankfully have come up with a way to make it through the end of the year - but January till be a different story if we can't get the modification. If we can get through this process NOW, the modification should be completed just before January!

Lisasxr,

If it was me, I wouldn't trust them either! I can't believe it has taken them from March 4th until now to figure out the MHA plan and how to implement it.

Get your info to NACA now!

Good luck!

[cobra]

Lisa;

As I understand it, the MHA plan is the baseline plan the Govt. has set up. NACA will most likely get you a better deal. I would call them now as Rozuki has said.
Their service is free. There is a trade off however....BoA will not communicate much with you if you go through NACA, BoA will have you call NACA for file updates.
Is that trade off worth it? Based on my experience...YES..I vote for NACA.

Keep us posted.

Cobra...NACA loan mod approved 5/29

[rozuki]

Cobra,

i like that....I am going to sign my posts that way from now on!


~Rozuki... NACA loan mod approved 6/10

[cobra]

You GO!!!!

BTW...in a earilier post you mentioned you had your dream car. What is it?
I have a Honda S2000.

Cobra

[rozuki]

Originally Posted by cobra

You GO!!!!

BTW...in a earilier post you mentioned you had your dream car. What is it?
I have a Honda S2000.

Cobra

It's a 2006 Corvette C6 Coupe Victory Red...

[rozuki]

Hey Cobra, you have a collectors item....heard the s2000 is being discontinued due to the automobile crisis....it's not a pink one like the one in "Fast and Furious", is it??

[cobra]

It's Silver. But it's a collectors item to me. I used to have a Shelby Cobra replica, but actually had to sell it to pay mortgage payments several years ago. Very fast, but not so pratical. At least the Honda can be used for work if my "daily beater" drops dead!...and it has AC!!!!
Corvette...Victory Red.....how appropriate for your victory to keep your home!

Best,

Cobra....NACA modified 5/29