Hoping for NACA STD event

[jasonsmith123]

I wanted to know your experience with save the dream tour. My loan is with Countrywide. I think Freddie Mac carries the paper for my loan.

1. What documents do I need to carry to Save the Dream tour?

2. There was a recent article saying that my housing payments should be less than 31% of my gross income. They are already less than 31% of my gross income. Am I still eligible for loan modification? My mortgage is adjustible and interest-only.

3. I am thinking of submitting the true and accurate income/expenses. Can some one give me their feedback if the following figures make me eligibile for loan mod?

Mortgage	1450
Property tax	250
Insurance	50
HOA	25
Repairs	250
Auto	450
Cash	100
Insurance	50
Groceries	600
Health & fitness	150
Household	400
Other	150
Utilities	250
Education	500
Expenses	4675
My total income is 4900 per month.

4. My property is in Las Vegas, but I will be going to the event in Oakland. Would that be okay?

5. My front-end Front-End DTI is 25.00% and back-End DTI is 71.00%. Is that okay ? Am I still eligible for loan modification thru NACA?

Anything else I should know.

[davephx]

Back end if over 55% only means you agree to credit counseling no effect on qualifying but

But if front end is over 31% do not qualify.

And you don't seem to have a hardship since you have excess income. Need a specific hardship reason not "it is more important to me to pay for education than my home", for example. Your are in far better shape it seems than most Americans

Just telling you like it seems, sorry!

[Melanie702]

NACA will probably tell you to get rid of the health & fitness, other, household and repairs. I've seen some post on here about that. They told me about my cell phone bill. That's something I didn't need. Is their a hardship?

[jasonsmith123]

I need help here please. I applied for loan mod to Countrywide and I got two responses which rejected me:
1. I was making too much money.
2. I was not making enough money to qualify.

I have both the letters from BofA. What do I need to do to get my loan mod approved from a budgeting perspective.

[Melanie702]

Originally Posted by jasonsmith123

I need help here please. I applied for loan mod to Countrywide and I got two responses which rejected me:
1. I was making too much money.
2. I was not making enough money to qualify.

I have both the letters from BofA. What do I need to do to get my loan mod approved from a budgeting perspective.

We all need help. We're all getting the same crap you are. I got the same thing, you don't make enough, you make enough to pay your mortgage. Blah. Sorry, but I think if someone here knew what to do, we'd all have modifications. We're in the same boat. If you find out, please let me know.

[jasonsmith123]

Also, I have two loans with countrywide for the same property. Can NACA help me with both the loans OR only the first one ?

[Melanie702]

Originally Posted by davephx

Back end if over 55% only means you agree to credit counseling no effect on qualifying but

But if front end is over 31% do not qualify.

And you don't seem to have a hardship since you have excess income. Need a specific hardship reason not "it is more important to me to pay for education than my home", for example. Your are in far better shape it seems than most Americans

Just telling you like it seems, sorry!

Sorry, not to be rude, but I thought the same thing. I know we're not here to judge, but just an opinion.

[lupsluv]

I just attended the NACA event in Las Vegas with GREAT success!! The Naca counselors will help you put your expenses in the right order to help you qualify; since they know what the bank is looking for!! Go attend and you will receive a great outcome!!! God Bless you!!!

[davephx]

Most everone that goes to STD gets a "solution" done. The problem is the banks do not have to honor it and often don't regardless of any "ircon clad" agreement with NACA.

Based on zillions of posts here of after the dream experience it turns into a nightmare of getting a mod actually completed.

Hopefully I and the zillions others here are wrong and it will work for you (and me - heard nothing and nothing posted on NACA site when I went the first day in Phoenix and like most got a great "solutionl".)