Success finally?

[HereinNY]

What a month! I was approved, cancelled, second crummy mod pending, what else could go wrong..

I finally got someone in Home retention named Natasha..God bless her..
She explained that BOA contracted out to five different offices. Each office was to look over the mod requests and if any of them could be approved that they could sent a modification offer(Mine was from the HOPE dept) In the meantime NACA sends me an approval with an awful modification which changed my online account from approved to pending again..It took about 12 phone calls before Natasha told me to release NACA from my contract with them..I did that and today my online account says Approved..and your account is in the final stages of completion...Thank goodness..

If you are at a loss as to what to do..call Natasha in the advocacy dept..she knows David L, Leanna M...and is very knowledgable..

[hope67]

Originally Posted by HereinNY

What a month! I was approved, cancelled, second crummy mod pending, what else could go wrong..

I finally got someone in Home retention named Natasha..God bless her..
She explained that BOA contracted out to five different offices. Each office was to look over the mod requests and if any of them could be approved that they could sent a modification offer(Mine was from the HOPE dept) In the meantime NACA sends me an approval with an awful modification which changed my online account from approved to pending again..It took about 12 phone calls before Natasha told me to release NACA from my contract with them..I did that and today my online account says Approved..and your account is in the final stages of completion...Thank goodness..

If you are at a loss as to what to do..call Natasha in the advocacy dept..she knows David L, Leanna M...and is very knowledgable..

Congrats

Have you been thru the trial modification plan already?

[minknmelissa]

Congrats hoping for some good news myself

[bittersweetme]

Congrats !! HereinNY! Very happy for you.....

[HereinNY]

No mine is not a trial mod..it has a fixed interest rate...

[CW California]

Congratulations!

[alikeith]

Congrats!!

What exactly is BOA advocay department. I wonder if that should be my next point of contact for my situation????

[Skipper]

Originally Posted by alikeith

Congrats!!

What exactly is BOA advocay department. I wonder if that should be my next point of contact for my situation????

I can't keep up...

Fwiw, if you have not contacted one of the HUD counselors through the MHA website (the phone number is listed there...), give them a call. I have found my counselor to be extremely helpful, and in addition, they become your "advocate" when speaking with BofA. It is a free service and worth it!

Skipper

[alikeith]

I actually have contacted HUD counselors thru MHA site. I have a telephone appt today at 12:30. They are looking into boa telling me i need to pay $2500.00 up front to show my commitement to modification. Funny its the same amount i am past due...hmmmmm

[Skipper]

Originally Posted by alikeith

I actually have contacted HUD counselors thru MHA site. I have a telephone appt today at 12:30. They are looking into boa telling me i need to pay $2500.00 up front to show my commitement to modification. Funny its the same amount i am past due...hmmmmm

That is good...

Did you contact the OOP with your concerns?

S

[alikeith]

OOP?? Not sure what that is?

[Skipper]

Originally Posted by alikeith

OOP?? Not sure what that is?

Office of the President:

barbara.j.desoer@bankofamerica.com

Send an email here and politely explain your concern and situation. be sure and include your loan number and good contact information (phone numbers and email). I think you may find that you will get some help this way...

Skipper

[alikeith]

Oh yeah. I have done that. Couple of times. they put me in touch with Phil, whom pt me in contact with the Senior Collector whom was the one saying i need to pay the $2500.00. I did e-mail her office again yesterday, quoted info from the MHA plan and what not. Said that i was contacting HUD in my e-mail as well. So of course Phil called me again after getting my e-mail. I dont know if Barbara even sees the e-mails honestly. I can say that the VP of HOme Retention did call me yesterday. I have called her back and left a message. I dont know if this is a good thing or bad thing. I hope good!

[Cassietw]

CONGRATS! HereinNY. I hope you got what your family needs to make it!

[sandyg]

Originally Posted by HereinNY

No mine is not a trial mod..it has a fixed interest rate...

Do you mind telling us what the fixed rate is and is it for 30yrs?

[minknmelissa]

skipper,
Wait when i called hope hotline they put me in touch with MMI my counselor didn't do anything for me he told me he would file a complaint with making home affordable and told me thats all he could do. What numbers are you talking about?

[ama125]

Congrats, HereinNY! Keep us posted when the packet arrives!

[casita]

Congratulations HereInNY!! Very happy for you!
I called mr. Leighton today but no answer yet, I gotta keep on trying

[Skipper]

Originally Posted by minknmelissa

skipper,
Wait when i called hope hotline they put me in touch with MMI my counselor didn't do anything for me he told me he would file a complaint with making home affordable and told me thats all he could do. What numbers are you talking about?

Hope this helps:

http://www.financialstability.gov/docs/borrower_qa.pdf

If you would like to speak to a housing counselor you can call 1-888-995-HOPE
(4673). HUD-approved housing counselors can help you evaluate your income and
expenses and understand your options. This counseling is FREE.

[HereinNY]

sandyg
I got a 40 yr loan (dont care at my age) at 4.375 until 2014 then 5.375 permanently. It is better because my orig loan was interest only at 6.875. This saves us $250 a month-enough for us to stay in our home..I was hoping for what NACA proposed which was $1547 a month but NACA's mod came back at an unacceptable mod through fannie mae which would only save me $79 a month so I turned it down and went with the one BOA offered through the HOPE dept.

[Housepoorinaz]

HereinNY,

Congrats on your mod! I am in a similar situation as you were but unsure what to do. I filed with NACA, but in the meantime received a crappy offer from HOPE. NACA said this is not what they submitted.

In light of what you are saying -- I may not get a better offer from NACA if I let this HOPE offer run out? I'm so confused as to what to do before HOPE deadline!

[HereinNY]

I wish I could tell you what to do..but I cant..if the HOPE mod does not let you stay in your home I guess maybe wait for NACA mod?

[ItsJustMe]

Our situations are very similar NY. We're also Fannie and our mod is similar to yours. That must be what they are doing. Stretching to 40 and lowering on a step rate up to 5.375. We're 3.25 to start. Currently 5.25. Stretched to 40 (currently 25). Also through HOPE dept.

[sandyg]

Originally Posted by ItsJustMe

Our situations are very similar NY. We're also Fannie and our mod is similar to yours. That must be what they are doing. Stretching to 40 and lowering on a step rate up to 5.375. We're 3.25 to start. Currently 5.25. Stretched to 40 (currently 25). Also through HOPE dept.

Ahh!!!!!! This stuff is stressing me out!!!!!!!!!!!!!! You wait and wait for a mod, it consumes your life and your mind and when you finally get an offer you are not sure what to do even then? Crap! I am so nerveous on what to expect if and when I get an offer.

Congrat's to you all and good luck. I have a fannie loan and a 2nd loan. I inputed all of my numbers into the NPV test and passed which only uses your 1st loan. It was for the remaining 27 years on the loan. Which would save us $800 a month. Which would help us stay depending on the 2nd. But, not sure what they will do with the 2nd which is interest only now and $80k.

So what I am hearing from you guys and on most every thread is that the 2% naca is probably not gonna happen! Reality Check, ouch!

[ItsJustMe]

Well, that's MY reality, at least LOL. I was really hoping for the 2%, too. We were originally declined a mod, and then one day the HOPE dept mod showed up. I've called NACA like crazy over the past month and no one ever calls me back, and no one ever has any info for me. We finally gave up and sent back the HOPE mod last Friday. Now we just get to sit back and hope that CW accepts it and processes it, etc. I just have to keep telling myself....they don't want my house LOL.

We have a 2nd. I shot myself in the foot w/that one. Was offered a mod and declined it, waiting for my CW mod. I called the 2nd back and was DENIED a mod , so I wrote some mean letters and they told me to resubmit, and I was offered a mod (though $150 a month more than the first mod they offered ). But, all in all our mortgage will go down $1K a month (though the 1st is stretched out to a 40, which bums us out).