VERY interesting day!!!

[Horsegirl]

WHAT A DAY! First thing, I had scheduled a call with NACA today to check on my status and to make sure they got the fax I sent today. They did and the lady was nice and helpful, but did mention that I now needed to send last years tax returns, and my home owners insurance declaration (I have no clue where it is), UGH. More info... Anyway I told her I would try to get the items and send them tonight, it's already 9pm and I have to get up at 5! I'm sooooo tired! Anyway, about an hour after talking to her there's a knock at the door, and it's my mailman delivering my certified intenet to accelerate letter (what does that mean anyway intent to accelerate??) trying not to panic I called the number which is the foreclosure department again, and actually got a nice person at BOA! GO FIGURE! anyway, she asked it my financials had changed since last week I said no, except for the credit card payment. My hubby owes a large amount on one card and it's like $350 a month payment (ridiculous) I told the lady that we'd rather make the mortgage payment it comes first. She put me on hold and came back say... drum roll... WE QUALIFY FOR ASSISTANCE UNDER MHA!!! I actually screamed in the poor ladies ear! Not only that she said that by her calculations we should get a payment around $1700 a month!!! That's a $1000 reduction from our current payment! She asked if we could pay that I said YES!!!! So she said to send in our info tonight, which I am and hopefully get the process rolling. So a bit of advice here, of you are counting credit card payments in your expenses DON'T, NACA even told me that, it shouldn't be counted. It may hold up your mod, just and FYI. So after I calmed down a little, my hubby brought the mail in and there's a letter from the president's office "Barbara" and it said thanks for the email last week, etc. but we can't help you because you are working with NACA. Guess they don't know my account isn't flagged as of yet. Question: Do any of you recommend just working with BOA at this point? Since it seems I'm finally getting somewhere? Should I keep working with NACA because it seems like it's taking forever, and since the president's office sent me that letter with a phone# I was thinking of calling them too to see if the process could go quicker? I just want this done and I don't want to lose the momentum that came with todays events ya know? Suggestions anyone? Moe?

[mgallant]

Originally Posted by Horsegirl

WHAT A DAY! First thing, I had scheduled a call with NACA today to check on my status and to make sure they got the fax I sent today. They did and the lady was nice and helpful, but did mention that I now needed to send last years tax returns, and my home owners insurance declaration (I have no clue where it is), UGH. More info... Anyway I told her I would try to get the items and send them tonight, it's already 9pm and I have to get up at 5! I'm sooooo tired! Anyway, about an hour after talking to her there's a knock at the door, and it's my mailman delivering my certified intenet to accelerate letter (what does that mean anyway intent to accelerate??) trying not to panic I called the number which is the foreclosure department again, and actually got a nice person at BOA! GO FIGURE! anyway, she asked it my financials had changed since last week I said no, except for the credit card payment. My hubby owes a large amount on one card and it's like $350 a month payment (ridiculous) I told the lady that we'd rather make the mortgage payment it comes first. She put me on hold and came back say... drum roll... WE QUALIFY FOR ASSISTANCE UNDER MHA!!! I actually screamed in the poor ladies ear! Not only that she said that by her calculations we should get a payment around $1700 a month!!! That's a $1000 reduction from our current payment! She asked if we could pay that I said YES!!!! So she said to send in our info tonight, which I am and hopefully get the process rolling. So a bit of advice here, of you are counting credit card payments in your expenses DON'T, NACA even told me that, it shouldn't be counted. It may hold up your mod, just and FYI. So after I calmed down a little, my hubby brought the mail in and there's a letter from the president's office "Barbara" and it said thanks for the email last week, etc. but we can't help you because you are working with NACA. Guess they don't know my account isn't flagged as of yet. Question: Do any of you recommend just working with BOA at this point? Since it seems I'm finally getting somewhere? Should I keep working with NACA because it seems like it's taking forever, and since the president's office sent me that letter with a phone# I was thinking of calling them too to see if the process could go quicker? I just want this done and I don't want to lose the momentum that came with todays events ya know? Suggestions anyone? Moe?

Glad to hear things are starting to roll for you! Not to burst your bubble or anything but I would be VERY cautious of anything BOA/CW tells you. BOA/CW is the worst when it comes to telling you one thing one day then totally making a complete 360 the next. You may want to discuss this BOA mod attempt with NACA before you rush forward with the MHA program. You may unintentionally cancel out the MOD from NACA by accepting to move forward with BOA and there program.

[afishym]

Horsegirl,

You should fax NACA a copy of the Intent to Accelerate. Also, I would be inclined to stay with NACA. If NACA has said they can help you, you will get a permanent solution (for the remainder of your loan) from them, whereas MHA may be a good program for some, it is not a permanent solution. My payment was reduced well over 1,000 a month through NACA (it depends on your numbers, not who does the mod) so I know NACA can achieve the same results. Be patient and wait on NACA.

Also, upon receiving our mod documents we had to supply the same paper work NACA is asking from you. It seems as though they are now requesting these papers up front, instead of waiting until mod is completed (most likely the lenders/investors changed the game on them, because some early mods required no additional paper work, our required Ins. declaration and pay stubs, and now they are asking for tax returns in addition to other paper work as requested by the investors, this is not NACA, but the investor/lender requesting these things).

[rozuki]

Is the BofA payment fixed for life of the loan? Is it lower than what NACA is proposing? I would be very leery of what BofA is offering....get all the details and let NACA know what they are telling you before you make a decision.

At least you have their attention!

[sandyg]

HORSE,
Anyway, about an hour after talking to her there's a knock at the door, and it's my mailman delivering my certified intenet to accelerate letter (what does that mean anyway intent to accelerate??)

This is very early in the foreclosure process. Not yet foreclosure only notifying you that you are behind and that they will soon start the process. I got my intent in Dec. and the sale date was set for 7/3/09. So it takes a while. Hopefully your MOD will come through and it won't be an issue for you. Good luck!

[Horsegirl]

Thanks so much for your replies! I decided to do both, fax to NACA and BOA, figured it couldn't hurt right? I was supposed to get a call back from NACA last night but didn't. I checked my status and it says on the website "submitted to sevicer-restructure", is that good? I hope so... I also called Angel at BOA's presidents office, she told me that faxing in my info was the correct thing to do, so now I wait and see who gets to it first I guess??