What does a negotiator know?????

[montana59451]

Our negotiator, Jessica does not know what type of mod or terms thereof we are being reviewed for. When I questioned her on this she stated that upper management does an analysis and decides which is the "right" mod for us. Now it seems to me that she should know what she put us in for and what type of plan she was looking at. What do they actually do or know about these mods? Is she just a paper-pusher?

Does anyone have any experience working with her?

[ama125]

Your questions are all good ones...same kinds of questions I am wondering myself. I am not working with Jessica, but my nego has never mentioned upper management. Who knows what they do or how they decide what is right for you (shouldn't that be YOUR call?)!

[montana59451]

Yes it should be our call. I really thought that Fannie Mae was the one who approved the mods. She surely had to have presented some type of plan to FM for them to approve????

I really want the HomeSaver Advance...but she says she knows nothing about it...I seem to know more than she does. B of A does not even have to request FM approval. They know I can afford my mortgage and that would be the fastest easiest way for them to bail me out.

Common sense is lacking with B of A and the whole MHA program!

[so-cal-gal]

From what I have read, if you are working directly with BofA, they INSIST on trying ALL other mods BEFORE the MHA mod.

Don't ask why. It may be that they can't waste as much time if they start out trying MHA or maybe MNA generates a better result for the borrower.

If you want to get into a MHA mod, approach that program via the HOPE program. You can go directly into that process. The counselor will generate a package that goes to BofA for that program.

I have to admit BofA might still try to substitute processing for a different mod but if you tell the counselor to really try to get them to process for the MHA and that BofA personnel can not tell you what program has already been tried, they will likely really try to get BofA to spring for an MHA mod.

It is worth a try.

[kura52]

Originally Posted by so-cal-gal

From what I have read, if you are working directly with BofA, they INSIST on trying ALL other mods BEFORE the MHA mod.

Don't ask why. It may be that they can't waste as much time if they start out trying MHA or maybe MNA generates a better result for the borrower.

If you want to get into a MHA mod, approach that program via the HOPE program. You can go directly into that process. The counselor will generate a package that goes to BofA for that program.

I have to admit BofA might still try to substitute processing for a different mod but if you tell the counselor to really try to get them to process for the MHA and that BofA personnel can not tell you what program has already been tried, they will likely really try to get BofA to spring for an MHA mod.

It is worth a try.

Hello So-CAL-Gal,

am i correct in assuming that you are stating it is better to use a counselor (NACA perhaps?) on a homeowners behalf to push for the MHA, as opposed to going through BOA on my own..(which is what I am doing currently...but I really believe they have sort of lost my file or something)
I will be e mailing the OOP on Sept 15 if i dont hear anything. My original hardship letter (sent back in March) simply stated I was requesting a loan mod..My hardship mentioned is the current chapter 13 that I am in, and also that I am concerned about the Pay option arm loan I am in, and the negative amm. that goes along with the loan when the min pmnt does not cover the interest.....First, they told me because I was current, they were putting me with "all the other people" requesting mods - into the "obama plan" which I assume is MHA? Then I was told (via BOA website) that I was denied...Then I called my negotiator and pushed about the AG settlement and that it was my understanding they were supposed to work with me in getting me into a fixed rate loan. I faxed a bunch of stuff to her to show to her supervisor (a new york times article, as well as info from BOA website!!!) and then low and behold, 14 days later, I have a new negotiator oversees and I am now "approved" for a loan mod, and should hear from them by 9/14/09. I have called both the bankruptcy dept (who i have found to be "farily" helpful) and also the main home retention area 3 or 4 times to see if they would give me a ph# or e mail address so that i could contact my negotiator. One gal gave me a number she said i could "try" (it was a bad#) and no one would give me a email address. I did reach a "john" in the bankruptcy area who said he could e mail me negotiator (but then he said this fellow really was not my negotiator, but rather the next step up from a negotiator (whatever that means?) as well as someone else within the bankruptcy dept that handles loan mods for us bankrupt folks....but then he also said because i am in a chapter 13, and not discharged, that he was told by homeowner retention that my loan mod will be at a "stand still" until I am discharged?? but then he seemed to question himself about that as well...saying he could put me on hold and try and get someone over there to "re confirm" what he told me. So I think it was probably garbage info he gave me. But he did send the e mail out,asking to have one of the two people who got it to please call me with questions...... and I have heard NOTHING. Now mind you, I am current on my loan, so perhaps this is another reason they are kind of ignoring me. with the index being so low for a while now, we do not have negative amoritization going on, but it's gonna come back to haunt us again...at some point...

So sorry this was so wordy, it was not supposed to be!

Anyway, I will see what happens on the 15th when I e mail the OOP, but in the meantime...this is my story..and question....

Going through NACA I am certain would have been less stressful. Part of my thought because I am not behind I should try to do it myself first...

Thanks so much, and if anyone else wants to chime in, please do!

[so-cal-gal]

Originally Posted by kura52

Hello So-CAL-Gal,

am i correct in assuming that you are stating it is better to use a counselor (NACA perhaps?) on a homeowners behalf to push for the MHA, as opposed to going through BOA on my own..(which is what I am doing currently...but I really believe they have sort of lost my file or something)
I will be e mailing the OOP on Sept 15 if i dont hear anything. My original hardship letter (sent back in March) simply stated I was requesting a loan mod..My hardship mentioned is the current chapter 13 that I am in, and also that I am concerned about the Pay option arm loan I am in, and the negative amm. that goes along with the loan when the min pmnt does not cover the interest.....First, they told me because I was current, they were putting me with "all the other people" requesting mods - into the "obama plan" which I assume is MHA? Then I was told (via BOA website) that I was denied...Then I called my negotiator and pushed about the AG settlement and that it was my understanding they were supposed to work with me in getting me into a fixed rate loan. I faxed a bunch of stuff to her to show to her supervisor (a new york times article, as well as info from BOA website!!!) and then low and behold, 14 days later, I have a new negotiator oversees and I am now "approved" for a loan mod, and should hear from them by 9/14/09. I have called both the bankruptcy dept (who i have found to be "farily" helpful) and also the main home retention area 3 or 4 times to see if they would give me a ph# or e mail address so that i could contact my negotiator. One gal gave me a number she said i could "try" (it was a bad#) and no one would give me a email address. I did reach a "john" in the bankruptcy area who said he could e mail me negotiator (but then he said this fellow really was not my negotiator, but rather the next step up from a negotiator (whatever that means?) as well as someone else within the bankruptcy dept that handles loan mods for us bankrupt folks....but then he also said because i am in a chapter 13, and not discharged, that he was told by homeowner retention that my loan mod will be at a "stand still" until I am discharged?? but then he seemed to question himself about that as well...saying he could put me on hold and try and get someone over there to "re confirm" what he told me. So I think it was probably garbage info he gave me. But he did send the e mail out,asking to have one of the two people who got it to please call me with questions...... and I have heard NOTHING. Now mind you, I am current on my loan, so perhaps this is another reason they are kind of ignoring me. with the index being so low for a while now, we do not have negative amoritization going on, but it's gonna come back to haunt us again...at some point...

So sorry this was so wordy, it was not supposed to be!

Anyway, I will see what happens on the 15th when I e mail the OOP, but in the meantime...this is my story..and question....

Going through NACA I am certain would have been less stressful. Part of my thought because I am not behind I should try to do it myself first...

Thanks so much, and if anyone else wants to chime in, please do!

Ok, I'm going to comment on a couple of facets:

1) you can not trust CW. HOPE is NOT the same as NACA. NACA has hired too many people DIRECTLY from CW very recently. Their new offices are in the same CW building where they were working. Are they going to push for what is good for you or to stay in good graces with CW so they can be re-hired some day?

2) STAY THE HELL AWAY FROM THE CW CA AG mods. If they give you one of those, the CW employees are even saying that ALMOST ALL OF THEM HAVE BEEN CANCELED. The only ones being honored that I know of came about because the borrower SUED. They settle, but the mod is no great shakes deal, not even as good as the settlement agreement specified, AND YOU PAY FOR YOUR ATTORNEY. Oh, and they require a non-disclosure agreement. You are then prevented from getting justice in any class action 'cause you were in a corner and needed to save you house.

I speak from the experience of HAVING one of the pieces of garbage AG mod contracts. I would have been BETTER off if I had been told I could NOT get any mod. I had other ways of resolving the problem. Now I can not go back in time and stop work on an apartment nor can I go back in time and move into that apartment, renting out my house to cover the costs. It would have been tight but I would have been better than the mess I now face, fighting foreclosure thanks to their game of DECEIT.

Check out my thread here to see 'how' they are pulling this off with ALL the 'AG mods': Countrywide California Attorney General Settlement - BEWARE of CW Cancelling Loan Modifications WITHOUT Notice

They have that program 'WIRED' to have all the mods 'cancel'. That way they never actually have to pay any of the costs of that settlement other than what they already paid the state.

PLEASE READ the other post.

Yes, I think you are "SAFER" having a HOPE negotiator work with CW/BofA. At least in the escallation team they now have heard of some of the nasty cases that CW/BofA has perpetrated.

I'm working with HOPE and they are pushing the current servicer to either honor the existing notarized contract OR provide a BETTER one.

OH, and they all also advise having my attorney proceed.

[minknmelissa]

Montana,
I had first hand experience with Jessica, she told me the same thing that it was in uppermanagement and really wouldn't give me anymore details. I do have to tell you that when i had mentioned that i was starting the naca process. She told me it would be a good thing for me.At that point i let naca submit (i was trying to hold off with naca praying i could do it with oop) she said she was going to check to make sure i recieved the best mod. Took her about two days called me and told me i would be better off with naca. I thought that i should get the information on what upper management was going to propose but she wouldn't give details. I never even would have found out my homes Bpo but the woman who b of a hired sent me a letter if i wanted the details to call her. I think Jessica does do HER job but doesn't like to give to much detail because uppermanagement makes the decisions. If you don't like what she comes up with go with naca i wish now that i wouldnt have submitted with naca so she would have told me her numbers for the mod. But i can only trust that she did compare what naca was proposing to what they were.. Good luck

[CW California]

Originally Posted by so-cal-gal

Ok, I'm going to comment on a couple of facets:

1) you can not trust CW. HOPE is NOT the same as NACA. NACA has hired too many people DIRECTLY from CW very recently. Their new offices are in the same CW building where they were working. Are they going to push for what is good for you or to stay in good graces with CW so they can be re-hired some day?

2) STAY THE HELL AWAY FROM THE CW CA AG mods. If they give you one of those, the CW employees are even saying that ALMOST ALL OF THEM HAVE BEEN CANCELED. The only ones being honored that I know of came about because the borrower SUED. They settle, but the mod is no great shakes deal, not even as good as the settlement agreement specified, AND YOU PAY FOR YOUR ATTORNEY. Oh, and they require a non-disclosure agreement. You are then prevented from getting justice in any class action 'cause you were in a corner and needed to save you house.

I speak from the experience of HAVING one of the pieces of garbage AG mod contracts. I would have been BETTER off if I had been told I could NOT get any mod. I had other ways of resolving the problem. Now I can not go back in time and stop work on an apartment nor can I go back in time and move into that apartment, renting out my house to cover the costs. It would have been tight but I would have been better than the mess I now face, fighting foreclosure thanks to their game of DECEIT.

Check out my thread here to see 'how' they are pulling this off with ALL the 'AG mods': Countrywide California Attorney General Settlement - BEWARE of CW Cancelling Loan Modifications WITHOUT Notice

They have that program 'WIRED' to have all the mods 'cancel'. That way they never actually have to pay any of the costs of that settlement other than what they already paid the state.

PLEASE READ the other post.

Yes, I think you are "SAFER" having a HOPE negotiator work with CW/BofA. At least in the escallation team they now have heard of some of the nasty cases that CW/BofA has perpetrated.

I'm working with HOPE and they are pushing the current servicer to either honor the existing notarized contract OR provide a BETTER one.

OH, and they all also advise having my attorney proceed.

SoCal
Do you know for certain that NACA has hired ex CW staff? Where is the documentation for this statement? I ask because NACA has been successful in helping thousands of homeowners to keep their homes, mine included, and I would hate to see someone discouraged in using them based on internet gossip. So please in all fairness, provide the proof for this statement.

[so-cal-gal]

Originally Posted by CW California

SoCal
Do you know for certain that NACA has hired ex CW staff? Where is the documentation for this statement? I ask because NACA has been successful in helping thousands of homeowners to keep their homes, mine included, and I would hate to see someone discouraged in using them based on internet gossip. So please in all fairness, provide the proof for this statement.

I saw the 'media' spin report that they hired people from CW to 'help' push things thru the CW/BofA system. I do not know what I did with the link.

The fact that the cubicles area in the same building comes from an employee. So you demand the proof that would have someone FIRED before the post can be made here?

Otherwise, send email to canceledcwmods@gmail.com

I did not put information here without having a reliable source and I do not consider it ethical to cause someone to loose a job.

[so-cal-gal]

Originally Posted by so-cal-gal

I saw the 'media' spin report that they hired people from CW to 'help' push things thru the CW/BofA system. I do not know what I did with the link.

Other not-so-favorable reviews of NACA, dating back as far as 2007 are present on the 'LoanWorkout.org blog. I'm looking at an entry from 11-1-07 by Moe that has comments thru 01-09 also.

[CW California]

Originally Posted by so-cal-gal

I saw the 'media' spin report that they hired people from CW to 'help' push things thru the CW/BofA system. I do not know what I did with the link.

The fact that the cubicles area in the same building comes from an employee. So you demand the proof that would have someone FIRED before the post can be made here?

Otherwise, send email to canceledcwmods@gmail.com

I did not put information here without having a reliable source and I do not consider it ethical to cause someone to loose a job.

Yes, I absolutely demand proof otherwise it still is just heresay. Post the proof and I will personally contact Bruce Marks to answer for this. I will send him a certified letter myself or better yet since Moe personally knows him I'm sure he would be happy to ask him! I do not want people to loose their homes over these kinds of statements. It is these kinds of statements, which make people think they have no hope of saving their home, which are irresponsible and unethical. This is the kind of statement YOU have to know for sure, not just that you read it somewhere or what some disgruntled CW employee told you. SoCal I know you are being messed with by Bank of America and I know that it sucks but NACA has been there for a lot of people on this web site.