NACA Los Angeles Save the Dream Tour

[kkhcw]

Hello all, Thanks for the great site and information be provided. Went to the NACA event in Los Angeles Friday 09-25-09. NACA said that I should qualify for a Restructure. Went to the B of A CW area at the event and met with there Rep/Negotiator. He said that he would help me. He said that I should receive an offer in 2 to 3 weeks. My account now states the following effective Monday 09-28-09 the below statement. Do you think this is a good sign. Please give me some insight. The B of A CW Rep. said that he verified all of my documentation and information and would not need any further info. He said that If I did not like there offer to call NACA to assist with addition negotiatons. Thanks

Processing Date Workout Type Document Type No Documents Found For This Account The above list is real-time and reflects the documents processed to date for this account. We may have received additional documents recently sent to us that have not been processed and therefore do not appear in the list. Please do not call us to check the status of a document not showing in the list as our representatives will not be able to provide any additional information than what is shown here. Thank you for your patience.

Current Workout Status

Loan Modification	View the Details	Hide the Details

Workout Status Details:	Your request for assistance is under review. During the review process, a thorough examination and analysis of your loan will be completed. During this time, we may or may not need additional information from you. It is common that you will not hear anything from us during the review period, but please be advised that all collections activities have been temporarily suspended during this review period. We expect more information to be available on 11/02/2009. If your status remains unchanged after the 11/02/2009, please call and speak to a customer service representative. Please do not call back before 11/02/2009 as that will delay the process. Please respond promptly to any calls or requests that you may receive from us during this period. Lack of response will cause your workout to be delayed or cancelled. Thank you.
Information as of:	09/28/2009
Workout Stage:	Processing
Phase/Sub-Phase:	Active Processing

[klauss54]

i was also at the event and told i was approved for 2 percent life of loan my workout status reads the same as yours

[caldwellb02]

Chase doesn't tell you ANYTHING online about the progress of mods.

Congrats on the potential workout though. I need to see more successes here!

[kkhcw]

Originally Posted by klauss54

i was also at the event and told i was approved for 2 percent life of loan my workout status reads the same as yours

I was not given specifics about the interest rate. i had a fix 6.375 % non conforming jumbo from cw. i was told by NACA reps that at 31% agi it would be half of my current mortgage payment. The B of A rep said all of my information had been validated, but he did not discuss rates or payment.

[mrsnissyq]

Originally Posted by klauss54

i was also at the event and told i was approved for 2 percent life of loan my workout status reads the same as yours

I have a question, if you don't mind me asking, when they said you qualify for a 2% the life of the loan, does that mortgage payment equal 31% of your Gross income?

I am just wondering what how some people are getting qualified for 2% and others are getting higher rates.

Thanks....