New Loan Modification on it's way?

[ocalalady]

Originally Posted by FLgata

Good Morning Ocala (neighbor) ,

I've had two different reps tell me the same thing, so I'm sure it is scripted for them. When I first started this modification nightmare with CW, I had an opportunity to speak with a nice lady who flat out said...

"These ARM's were intended for investors who planned to purchase and sell houses within the first two years of the loans. Unfortunately, greed set in and that's all they began offering people. It really is a shame."

!

Hi neighbor!
I swear you're right....we've had those same words also said to us!...so I bet they are scripted.

[ocalalady]

FLgata,
We also are willing to pay what we owe....we just want a payment we can afford...not what our crappy broker told us our payments would be "once you refinance"......I am mad just like you and it stinks having this dark cloud over our heads!

[luisren]

I wish you had that statement recorded.. nice..

[ledude]

So, I'm not arguing this housing crash sucks for everyone, but I do get a bit perturbed when I read threads where it's 100% the banks fault. For most of us (people who've faced income loss, health issues, etc aside) there is blame to lay everywhere. The government (Bill Clinton and Republican Congress for Deregulation, Greenspan for low interest rates for too long), The banks, The brokers, The appraisers, the real estate agents, and finally us are all to blame for this situation. The excuse that "I was told I could refinance in a year or so" is a cop out. It reminds me of the "The dog ate my homework" excuse. We all have to take accountability for where we are.

[ocalalady]

Originally Posted by ledude

So, I'm not arguing this housing crash sucks for everyone, but I do get a bit perturbed when I read threads where it's 100% the banks fault. For most of us (people who've faced income loss, health issues, etc aside) there is blame to lay everywhere. The government (Bill Clinton and Republican Congress for Deregulation, Greenspan for low interest rates for too long), The banks, The brokers, The appraisers, the real estate agents, and finally us are all to blame for this situation. The excuse that "I was told I could refinance in a year or so" is a cop out. It reminds me of the "The dog ate my homework" excuse. We all have to take accountability for where we are.

That was harsh....
Yes, as young and naive homeowners we stupidly trusted the people that were in the mortgage business to be forthright and honest. I imagine that if we knew we were being flat-out lied to at the moment we never would be where we are now. This is a hard lesson that we've had to learn first hand...one that will teach us to narrowly scrutinize every professional business person we deal with for the rest of our lives.

[ledude]

Not sure how it was harsh. I point this out because a more at ease approach to getting a loan modification might be beneficial to your end result. The us versus them only triggers anger and probably a less than pleasant approach.

I totally agree that this is a hard lesson for all of us. No doubt. But we rested on our laurels. We somehow trusted that some real estate agent could predict the future of the housing market and some of us even glossed over the contracts signed. In most situations, I believe human greed at all the levels I mentioned previously got us here. Always easier in hindsight of course.

At the end of the day....we signed loans we probably shouldn't have.

[FLgata]

I will accept some fault for being in this present situation. In my case, not reading/understanding what I was signing and trusting a professional broker to work within my best interest (because of the above mentioned), BUT... The bottom line is this, these banks should have never been offering toxic loans to people in the first place!

[ledude]

Totally agree...the banks...the brokers...the appraisers...the REs...etc...etc....all were in it for the money. I suspect some of us were too..."Housing is the best investment you can make" is a moto I've heard over and over again. I actually put more blame on Clinton for deregulating, Bush for not seeing what was going on and Greenspan for pushing ARMs. The situation just stinks. I guess what I am saying is having a level head about it and having a sense of accountability will ultimately help your approach to getting into a better situation. The person answering the phone in India who makes maybe $50 a week probably isn't interested in helping someone who is irrate with a $300k loan. Not saying anyone is doing that....just saying it's easy to cross that line.

I know I am much better educated on finance now than I have ever been. Loansafe.org has been a big asset for me in this sense. It's a huge sense of freedom to take ownership of your financial actions. Now if I could only understand how a car engine works...

[angelisax3]

Does anyone know if they're still having problems with the website? I spoke to someone late afternoon on 3/12 and started a new modification (hopefully for the Obama plan) and faxed my documents over on 3/13. On Friday, my account status was actice processing. Today I checked online and my modification was cancelled due to borrower not returning documents. The date the system cancelled was 3/15? Anyone else running into problems? How can they cancel it so soon.

[angelisax3]

This whole cancelled thing has been bothering me so I figured I would try and make a quick call since I'm at work and really can't use the phone (I work in a call center). I got the rudest rep at CW named Andre. He told me everything had been cancelled and that was that. I told him I had faxed over all the documents they asked for (again) and confirmed they were received. I even have the fax transmission report. He told me that that may not even be the reason that it was cancelled since modifications were not guaranteed. He then started questioning me about when I was going to make arrangements to pay my past due. I told him I was interested in a modification and that that was why I was calling and he should be a little more compassionate. He immediately put me on hold for over 10 min probably hoping I would hang up then came back and said since they never received my fax that was it. I told him this sounded like a call that was going to take longer than I thought and that I would call back when I got home. He said not to bother because there was nothing else they could do. I told him I would start over with someone else and he said good because he didnt get paid enough to listen to my story.

In addition to being stressed about this whole thing, it sure doesn't help to have to listen to someone lecture me on lack of responsibility.

Needless to say, it looks like I'll be making another call later. Hopefully, I'll get a real human being. I love this site...it makes me feel better just writing my thoughts down

[mommy1119]

Angelisax3,
Did you call back I loggedin this morning to find the same message. Did you get a reasonable reason for this. They told me that it had something to do with a fast track modification and that they were still working on my other mod.

mommy1119

[angelisax3]

Mommy1119,

As soon as I got home I made the call. Of course I got another person in the call center that didn't know what I was talking about. I even had to read him what the website said because he said he wasn't aware that CW posted that status info anywhere. Poor guy finally gave up and said he had to transfer me to the Workout Dept.

I finally got a really nice girl named Jennifer who apologized for that jerk I had gotten earlier. She even offerred to transfer me to his supervisor because she was shocked at his comments. She said that the mod should not have been cancelled because it takes them at least a week to receive the info. She said she was going to note may account that I had just faxed over the documents. As it turns out, I had been given 866-261-6472 to fax my info to and she said to use 800-658-0395.

One thing the call center guy did say was that my account looked like it had been "fast tracked" but he didn't know what that meant and I forgot to ask Jennifer. Also, I find when I dial Home Retention at 800-669-0102 I get "general population" people that usually are low on the totem pole. The Heart Team gave me 800-669-4578 and when I used that number last week, I was put through directly to a "Loan Servicing Specialist" aka Workout Dept.

[angelisax3]

Help!!!! I'm still desperately resolve this with CW myself and I'm totally frustrated! I re-faxed the documents to the number Jennifer provided and have been checking the website status everyday and printing out everything I see. I was happy to see on 3/18 that it listed all the documents I had faxed but the status details showed still "active processing" as of yesterday. This morning I log in as usual and now my modification has been cancelled again because it says they have not received required information from me. How can the website show the documents received???? Anyone else have these kinds of problems. I'm so upset with this whole thing and I'm stuck at work so I can't even call to find out what the heck is going on. I'm about ready to give up and walk away.

[angelisax3]

THAT'S IT!!!!! The website says my request for modification has been cancelled for the 3rd time since last Thursday. CW says it has to do with the 4 fedex packages I received within 1 week of each other in February. They say that because I didn't return their generous offer signed, the system continues to cancel and new request for help. Today's rep said that the rep from yesterday put in a manual request and it takes 30 business days to receive a response. She also said since I have failed to pay my mortgage for the last 12 months I should plan on paying down my past due because it "looks better" when they're reviewing the account.

After that disheartening conversation, I finally give up trying to work with CW in good faith. I just signed up with NACA and have finished faxing all my documents. The next open workshop in our area is July 18th.

I know that some other posts say that I can still schedule a phone appointment but when I click on that link it gives me a menu with month, date and year but nothing comes up. Am I doing something wrong. Please help...

[gray517]

Originally Posted by angelisax3

I know that some other posts say that I can still schedule a phone appointment but when I click on that link it gives me a menu with month, date and year but nothing comes up. Am I doing something wrong. Please help...

First make sure the top of the screen says Available Appointments By Phone and not face to face appointments, I logged into Naca just now and there are appointments for tomorrow, thursday and friday if that is not convienent for you then click on button that says next 5 days to get next week.

[angelisax3]

Available Appointments by Phone


Click here for Face to Face Appointment

Desired Appointment: Month: 010203040506070809101112 Day: Year:

Appointment:

Call Number:

Other #:

--

Language:

EnglishEspañol

I select all kinds of different days and press search but nothing happens. I've also tried just hitting next 5 days and still nothing. Any other suggestions?

[angelisax3]

Do I have to pay for the credit report and some kind of membership dues?

[gray517]

no you don't pay anything to naca, have you completed the 10 steps for submission? I just logged in and clicked on phone appointments and a bunch came up for this week

[angelisax3]

Upload Documents Step 1 (Done) 2 (Done) 3 (Done) 4 (Done) 5 (Done) 6 (Done) 7 (Done) 8 (Done) 9 (Done) 10 Documents Congratulations on completing your Homeowner Submission This is what I see when I go to Homesave-Submission but if I go to Homesave-Process under Status it says incomplete. What am I doing wrong?

[gray517]

your status is incomplete because you have not done the counseling session yet. while you are logged in and on the page you posted above, go 1/2 way down the page and you should see link underlined for setting up a phone counseling session click on it and it should take you to the appointment times for this week that I just saw when I logged into naca. try it again and see what happens.