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This is a discussion on October submittals (with NACA) within the Countrywide Home Loans - Tell Us Your Countrywide Story forums, part of the Stop Foreclosure and Tell Us Your Story category; Hi everyone. Just thought of starting a thread for October submittals. Mine was submitted to the servicer BOA last October ...
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| | #1 (permalink) |
| Senior Member Join Date: Sep 2009 Location: Jacksonville Florida
Posts: 57
Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0 | October submittals (with NACA) Hi everyone. Just thought of starting a thread for October submittals. Mine was submitted to the servicer BOA last October 14 thru NACA. Please post if you were also submitted this October. Thanks. |
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| | #2 (permalink) | |
| Senior Member Join Date: Aug 2009 Location: Florida
Posts: 202
Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0 | Re: October submittals (with NACA) Quote:
Mine was submitted on October 14th as well. Naca rep told me I might hear something around November 14th...right. Anyway, Bank of America sent me a letter to let me know that my mortgage is being transferred to BAC on November 16th. So I really don't know what to expect. | |
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| | #3 (permalink) |
| Senior Member Join Date: Sep 2009 Location: Jacksonville Florida
Posts: 57
Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0 | Re: October submittals (with NACA) Hi riley18, Oh great we were submitted the same time. I was told by NACA to call them after november 9. My servicer is Bank of America and my investor is BONY. How about you? do you know who your investor is? what is BAC? |
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| | #4 (permalink) |
| Member Join Date: Jun 2009
Posts: 18
Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0 | Re: October submittals (with NACA) I was submitted on the 28th according the NACA website but was in the office and saw the email sent to BOA on the 26th. I also got an offer from BOA to modify my mortage and was told I need to let them know as soon as possible if I was going to continue to work with NACA because I can't have two files open. The offer I have from BOA is 3% for 4 years and 5.2 for the remainder of my loan payments begin in Jan. Over all, it is only dropping my payments about $300 per month and then they will go back up. I don't know what to do. If I don't take this offer, what is NACA can't get my anything? |
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| | #5 (permalink) | |
| Senior Member Join Date: Sep 2009 Location: Jacksonville Florida
Posts: 57
Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0 | Re: October submittals (with NACA) Quote:
I got the same offer too but only over the phone but I declined it. if you think that would help you, then maybe you should take it. I am waiting for NACA because they give you fixed for the life of the loan. Try reading more from this forum, there are a lot of people here who are very helpful. You can get a lot from them. Good luck! | |
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| | #6 (permalink) |
| Member Join Date: Jun 2009
Posts: 18
Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0 | Re: October submittals (with NACA) yes, my offer was over the phone as well. She asked if I had receieved my package and I told her no. Please look at my other thread. Everyone there seems to think I should take the offer. It's hard to decide. 5.2% for the life of the loan is not a bad eiher. |
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| Senior Member Join Date: Sep 2009 Location: Jacksonville Florida
Posts: 57
Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0 | Re: October submittals (with NACA) I have an update, please anyone? take a look at these. Bank of America does not have a heart!!! I am so down right now. After 25 days from the time I was submitted by NACA they have a proposal. They think I am stu*** to take this offer? Name: ********* NACA Id: ****** Status: Proposal Received from Servicer Submitted Date: 10/14/09 Congratulations on becoming a NACA Member and participating in our Home Save Program. NACA is recognized as the largest and most effective program in achieving long-term affordable mortgage payments for many thousands of homeowners with an unaffordable mortgage. Stated below is the status of your file.
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| | #8 (permalink) |
| Senior Member Join Date: Jul 2009 Location: AZ
Posts: 49
Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0 | Re: October submittals (with NACA) It appears that they aren't asking for any upfront funds. If you look just after that you'll see 0.00 that they are asking for upfront. It appears before the upfront figure, that's the new proposed monthly payment. I didn't see your previous interest rate in order to see if they reduced it much. 10% still seems high. Is the new payment 31-38% of your gross or net income? |
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| Senior Member Join Date: Jul 2009 Location: AZ
Posts: 49
Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0 | Re: October submittals (with NACA) Quote:
Did NACA submit something different? This is BOA's proposal? 26 years is awfully short. Most I've seen are 30 to 40 year terms being the standard. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| | #10 (permalink) |
| Senior Member Join Date: Jul 2009 Location: AZ
Posts: 49
Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0 | Re: October submittals (with NACA) NACA submitted a 6 month forbearance but their system still shows submitted to servicer on 10/12/09. Colonial is the servicer and they said it can take 6 to 8 weeks. Colonial said that NACA didn't send in Colonials application and they notified NACA that their request was incomplete. I found this out after calling Colonial. No one from NACA called. I tried calling NACA on Friday and their phone system is posessed. System originally said that the wait time was 166 minutes. Waited 80 minutes and then wait time increased to 188 minutes. Then the system jumped down to 30 minutes after waiting for another 20. Finally the automated system states hold time is 6 minutes, and then it steadily increased after that. I just hung up because the wait time was increasing. I submitted everything to Colonial again...Our house is to be auctioned off 1/19/2010. |
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