Please HELP..Have Mod agreement signed, sealed and delivered but $ returned & told DENIED

[anna4flowers]

Hello Everyone....
I am new to this forum thing but am sure will get the hang of it! I spend most of today in tears as I am so CONFUSED by CW. We were sent a Loan Modification Fed Ex, accepted the Loan Mod agreement..signed and had notarized and returned. Verified that it was received. Yet was told 2 weeks later that it was rejected and the process had to begin again. I checked with the Hope Team who put a 3 way call into CW and verified that it was approved and received. I sent my first new payment in on June 1st and received it back from BAO today stating that it could not be accepted because the amount remitted does not represent the total due.
I call again (making this my 1000th phone call through this process in Dec. 08 and being rejected numerous times for one reason or another) and have been told today that it was rejected.
How can it be possible to receive a binding agreement, be told it is received, told where to mail the payment and what the new amount is in the mod paperwork, and then be rejected.
Please someone advise me on how to get through this madness.
I was told today that I was yet again being processed for yet another mod and that I must fax paperwork over again for the 5th time.
Please help me to understand why this agreeement is not an agreement!
Thanks so much and I hope someone can help me so I can dry these tears!

[anna4flowers]

I am so confused.
I received a fed ex from CW Home Retention Dept. with a loan modification in it. They asked that it be signed, notarized, and returned. All of that was to be done by May 16 and it was verified received on May 5th. As far as I knew all was good and my new reducted payment began on June 1, 2009. I received a call on 5/26 from CW collections about my payments. I explained i had a loan mod and was sending new payment in on 6-1. I was told that it was not accepted and that the loan mod they sent me was denied. I called the number on the fed ex and it was the hope team. They informed me they had verification it was received and put me on a 3 way call with CW. Nice gentleman explained that the computer systems were not in sync and that the loan mod was approved and in processing so my statements would reflect the new payment. He informed me to make my payments like the loan mod paperwork stated and to the specific address. I did all the above as instructed by both the hope team and CW. Today I receive the new payment amount money order in the mail stating it was returned because the amount remitted does not represent the total due.
How can they agree to something, send it to you, have you sign and notarize it and then tell it is all not true.
Has this happened to anyone else and what recourse to I have.
PLEASE HELP.....I have no more tears!
Thank you for any suggestions on how to make this madness stop!

[jaguar1]

Sorry to hear you've had the same problem as I, the only difference is I got cancelled after 6 months. Approved December 4, 2008 and told to make my 1st payment Feb 2009 which I did and for the next several months on time. However, looked online at the website on 5/5/09 and saw the following. "cancelled from workout" How after six months, what about those reduced payments, and the payments, that were added on to the end of the loan in the agreement. Hmmmm. I got disappointed and utilized the email I got from this forum last monday. barbara.j.desoer@bankofamerica.com I got a call back the next day ( tuesday). My information is now in the advocacy department. Please use the email address and include a description of what happened along with contact numbers. Good Luck.

[Hopeful_in_VA]

That is crazy!! I am so sorry :-(
I am in the beginning stages so no "real" advice.
Did you make copies of everything? If so, can you take them to an attorney?

[gray517]

I got a modification using Naca and it took forever for CW/BOA to process it (apparently a whole batch of mods got "missed" and were not processed) I contacted the office of the President of CW/BOA Home Loans Barbara Desoer via email and someone from her office called me within 2 hours and got it straightened out within 2 weeks. Send her office an email detailing your situation and include your loan number and a contact phone number. If you have anyway to scan and attach the modification docs and proof of fed ex delivery send that as an attachment to your email.

barbara.j.desoer@bankofamerica.com

[anna4flowers]

Thank you for the information. I will email her. If I thought it would help, I would drive to Charlotte as it is only 4 hours from here and meet with her personally if i thought i could get in to see her. As I said I am new to this stuff...what is NACA? I am a little worried about getting involved with the "higher ups" as i have read some of these posts that say when they made noise thier mods were rejected. My Mod was with the "home retention department" of CW. I guess there is not much to loose at this point as they are now stating i am "back in process" for yet another modification. How can it get this confusing?
Thanks for your information.

[anna4flowers]

Thanks for the advice. I have her email and phone number from another post I was reading. Some of them said that when they called and got the "higher ups" involved thier mods got rejected so I am a bit afraid to email her but at this point what do I have to lose. All I want to do is continue with mod that I agreed to, signed, deliver, and was told where to send my money. I feel like I am doing what I said I would do so why aren't they. I would think that a Loan Modification Agreement is binding. My car company would never tell me to bring my car back a month after they got thier payment saying that the loan was denied so how can they do that. Isn't there some recourse we all have so this doesn't keep happening to people who are really trying to keep it together and working to pay thier bills.....its they craziest thing I have ever seen!

[anna4flowers]

Also....I have not dealt with NACA...I did all this throught CW themselves. Should I be doing something with NACA?
Thanks

[gray517]

anna4flowers

Naca is a non-profit organization that has helped many members save thier homes by working to get them modifications with affordable payments. It sounds as you may already have a modification completed and it just needs to be processed and updated. If you are unable to get this modification issue resolved then you may want to contact them for assistance
As I posted previously on your thread contacting the office of the prez of CW/BOA Home Loans is the probably the best and fastest way to get your situation resolved, it worked for me and here is another thread where a member had a situation similiar to yours and they got it resolved by contacting the office of prez as recommended.

We are making payments but they won't post them!!!

[anna4flowers]

Good News...(I hope)...

I took your advice. I wrote the president of BAO today and by this afternoon I received a call. He was a senior advisor and he gave me his name, phone number and ext. number in case we were disconnected. He said he want to clear this situation up and was working for the next 2 hours and would look at my file and call me back before he left. We re-reviewed my financials! Within 2 hours he called me back and informed me that a new modification (identical to the previous one) had been approved and would be in my hand by Thursday of this week. He also stated that if anyone from CW called and said I was denied or gave me any problems to refer them to him at his phone number and extension.
I hope everything goes as I was told as I have been told many many things in the past but I must have faith!
My advice to everyone who has a modification and then has been told they are denied, WRITE THE PRESIDENT, scan and attach your modification agreement, cc all your local representatives, the attorney general, your senator, and anyone else who you think this will make a difference.
I will update this week if/when the new modification paperwork is received.
Thanks for the imput...It is greatly appreciated.

[NeedHelpwCW]

Great to hear that they will give you your modification back. You went directly to CW and did not use NACA, right? What rate did they adjust your rate to? Did they change your terms or keep the same term. Sorry for so many questions. There's not many success stories of people that dealt with CW on their own and I am just curious with the terms.

[anna4flowers]

First new payment September 09 (not sure why so long unless they are trying togive me a break for all the hardship they have caused me). 4.5% for 5 years and fixed 6.25% for the remainder of the loan agreement. Hopefully within 5 years BoA won't own my loan...
I did not use NACA and went directly with CW but have been dealing with these folks (and i say that nicely) since Dec.08. I'm not sure if I can celebrate yet as I read others who have had loan mod for close to a year to be told it was denied. I truly feel there should be legal recourse to a company breaking thier own binding loan modificaiton agreement. I will update again as the process continues and am trying to stay positive but still nervous.
Did you use NACA and do they help speed up the process because if this doesn't work and things are not done to update my records and credit history, I am gonna need some other recourse.
Thanks for your imput and hope your adventure is not as rocky as mine has been!

[cla525]

I am going thru this EXACT scenario right now. Working on my fax/package to Barbara with all attachments.

I was approved in March and sent all signed, notarized paperwork back the next day, on time, as requested (original request back in October 2008). New payments for first mortgage and HELOC were to begin on May 1--payments on first keep getting returned--I'm being told that it was cancelled. I didn't even know there was a problem until I checked the status (as I did every week) and our loan had disappeared. They said it was in pre-foreclosure status. It was immediately taken out of that status when a supervisor in the infamous escalation department realized it was a mistake... In any case. I'm e-mailing today...keep your fingers crossed. Oh--did I say that my HELOC modification has been completed and is showing as current???

They are something...

[cla525]

Sent my email yesterday at 4:20 pm and received a call from Angel (in Barbara's office) that she was assigning a special negotiator to review. Everything looked ok to her--although she thought the holdup was on the HELOC and that the first was approved...??? The HELOC was approved and the holdup is actually on the first (from what I can tell anyway). I'll post an update when it gets resolved.