Failure is not an option for us....

[Cassietw]

Our story: My husband and I purchased my Mother’s home in Feb 2005. This was a sub prime 2 year fixed, interest only ARM loan. We were assured that we would be able to re-finance with no problems as housing prices were going up. Two months after we purchased our home, my daughter was diagnosed with Cancer (Hodgkin’s Lymphoma). On the same day, my son was in the hospital with a broken leg and a bone tumor (Non-Ossifying Fibroma) that needed to be removed, and bone grafts were taken from his hip to reconstruct the bone in his lower leg. My daughter started Chemotherapy and my son went into surgery on the same day, May 9^th, 2005 at UCLA medical center. I can document proof of this. Even our local paper wrote an article about our family and what we were going through. This created a hardship for us. We both traveled, working in the jewelry industry at the time and our income was cut down from between $10,000 and $12,000.00 a month, to about $3,500.00 to 4,500.00. After everything, we could not go back to work doing what we were doing as it meant traveling up to 25 days out of town at a time and we no longer had or could afford our live-in nanny for our 4 children. My husband and I managed to re-finance our home in Feb 2007 as it was scheduled to adjust. We are currently in a 5-year fixed, interest only, ARM, 7%. The loan is scheduled to adjust in 2012. Our first mortgage is currently $3,525.00 a month. Our second is between $380.00 and $500.00 a month. Our current take home is $6,166.00. We have no car payments. We have 2 cars, one is broken down. We carpool to save gas, plus we don’t have the money to fix the other vehicle. We have credit cards that are at their limits with monthly payments totaling $380.00. We have monthly utilities, car insurance, food and gas. There is nothing left for necessities or emergencies. We now have all 4 children at home. My oldest 20 year old son was helping financially but was laid off 3 weeks ago and is having trouble finding work. My 19 year old daughter just moved back in as she was struggling on her own. We have 2 under age children and do not have medical coverage or qualify for any services as they say we make too much money. We rented out one room to help offset the payment but that person hasn’t paid me rent since December so I just kicked her out and my daughter is now taking her place. We haven’t figured out how much my daughter can help yet. She needs follow up treatment for her cancer but has no medical coverage so we are trying to work that out too. We have never been late on a payment. With all our hardships, we have managed to make it happen every month, and every month I wonder if we are going to pull it off the next month. The last 6 months we have fallen behind on our credit cards and our second mortgage. As time went by, we were barely making it and when the occasional car repair or dental needs came up, we offset the expenditure with a credit card as we have no cash on hand. Our cards are all now at their limits. The payments are higher and it is even harder now to make it. I don’t know that I will be able to make the March 09 house payment. We filed our taxes early but we owed two months on all the utilities and credit cards, so that only helped catch up and we are still not current on everything. My husband and I have been trying to get a loan modification from Countrywide Home Loans. I have made several calls where I have spent up to an hour at a time on the phone with them trying to see if there are any programs we qualified for. Each time I am told, “sorry we cannot help you”. The Countrywide web site lists numbers to call and specifies programs to help homeowners who have been late or are at risk of being late. I do not believe at this point that Countrywide helps anyone. We have never been late so they won’t help. They tell me they put the figures in and the computer says “No”. It is disheartening to know that an emotionless computer makes all the executive decisions. I thought it would make more sense to help someone who is communicating that they are in financial hardship before things get behind. Help someone who has not contributed to the real estate mess. Help someone who did not buy a home outside of his or her means at the time. Help someone who has done everything in their power to keep their obligations and be ethical. I have asked for a modification. I haven’t asked for a principal reduction, I asked to lower the points. Put me in a 30 year fixed at 5%. I want to pay my bills, not some, but all of them. I want to keep my home. It was my Mother’s and is sentimental to me. My husband and I were married at our home in the yard. Why should I have to not pay my obligation and destroy our credit for Countrywide to care and do something proactive? It seems the only one’s being helped are the one’s who have contributed to the mess in the first place.

I need this modification…..I need it to happen…..Tujunga, California

[Dan Bailey]

Cassietw,
Welcome to the forum, glad you found us.

Since you have been trying to contact CW and have not gained ground with them, I would suggest trying NACA. They are a non-profit homeowners advocacy group that has had alot of success in giving help to folks. They are familiar with CWs antics. NACA:https://www.naca.com/refinance/refinanceSubmission.jsp

Also, beyond calling CW (which is a lesson in futility at times when you only gett ahold of "collections" people) draft up a hardship letter to send and fax to CW Here is an example:Examples of a Hardship Letter

Getting a modification is a long process. It takes alot of time and effort, but is worth it to save your home.

Hang in there...take these steps and let us know whats happening!

[Cassietw]

Thank you Dan. I will check out the NACA link tonight. I feel better just having this site here. i read a bunch of posts in this forum and I think I saw light at the end of my tunnel!!

I will keep everyone updated of any positive transactions and what occurred in hopes it will to help someone else.

Cassie

[Dan Bailey]

Hang in there cassie!

[Cassietw]

I have a question.... I want to register with NACA and get started but, I am not on the loan. I handle all our bills, contracts, loans etc. My Husband doesn't really understand any of this and "I'm It!"

Can I register under my Husbands name and will they talk to me about everthing if he gives them permission? I am on the deed, but when we re-financed, the broker said that my score would hinder the re-fi so they kept me off the loan. There were a lot of med bills from my kids treatment that affected my credit score but did not affect my husbands.

Does anyone know if they will work with me on behalf of my husband with permission? I would like to know before I register.

Thanks,

Cassie

[Cassietw]

Does anyone know if when I register at NACA, it has to be in my husbands name (he is the only name on our loans- I am also on the deed)? I handle all the bills and situations like this.

I want to do it right and not fill out something wrong and hinder the process.

Thanks in Advance !

Cassie

[gray517]

when I did naca, I originaly did it in my name since I am the only one on the mortgage ( hubby is on deed Cw didn't put him on mtg cause of his credit being worse than mine) but since I am not working they changed it and put it in under his name and he is not even on the mortgage, but is the one with the income. you both will have to sign the authorization (we did it electonically) hope that helps you decide

[Cassietw]

Thank you! Yes, I think I will put both our names and let NACA decide how the stuff should be.

I feel such a new sense of hope with this site. I am telling everyone I know in trouble about it in hopes if not all, some of us have a happy ending.

I am so tired of being stressed and not being able to even take my kids to the movies. Makes me feel like a failure sometimes.

Thanks Gray517!

Cassie

[Cassietw]

Ok, I have finished 9 out of 10 steps now with NACA. I just hope I got everything filled out right. I pulled the loan docs out and after reviewing them, it appears they made mistakes with the closing costs. Also I only have a copy (stamped Borrower's Copy) of the closing arrangment but it says it is not final and may change??? I have no other escrow docs that show final amounts. I do remember thinking the closing costs were high though.
I will be scheduling an in person meeting with NACA hopefully within the next week. All the workshops for the next 3 months are FULL in the Los Angeles area.

Please wish us luck! We need it! Luck to everyone else too!

[Knightfal]

Cassie,

Good luck and hang in there..... You're not a failure, just keep a positive mind.

[teenut]

Good luck!!

[Cassietw]

INFORMATION:

For those of you in southern California (Los Angeles area) who want to go to a workkshop but they are FULL, NACA just told me to go there one hour early anyway because they say a lot of people are no shows and you can still get a spot in the workshop. (STANDBY)

Maybe one of the moderators can post a sticky about this? Hope it helps! I 'll be at the workshop this Sat on standby...

Lots of luck everyone!

[gray517]

Cassietw
you can also schedule an appointment to do a phone counseling session since all of the naca workshops are full. you schedule it right on the Naca website after you log in, it make take at least 2 appointments but it is faster than waiting on a workshop. if you do this, schedule 1st, 2nd and 3 rd choice of appointment times. good luck!

[Cassietw]

Thanks Gray, I will try that.

Update, so today I am finally ready to submit all my docs to NACA. I am also faxing my Hardship letter to the Home Retention Department at Countrywide.

I wish I could have done it sooner, but as usual life steps in at the most inoppertune times and before you know it, over a week has passed.

I notice a lot of people who are quite impatient with NACA and complain about the time it is taking. This is what I know... I am GRATEFUL to have found this website. It gave me HOPE where I had none. I am GRATEFUL to have found out about NACA through this site. What happened to us didn't happen overnight and it won't be fixed overnight either. It took time to get into this mess and it will take time to get out of it.

I will just keep making it "go right". We all made it this far, we can all make it a little longer.... Don't give up on yourselves as well as hour HOME!

Hang in there everybody!!

[Cassietw]

Question: I am trying to schedule an in-person meeting or over the phone meeting with NACA. I don't see any appointments, only a waiting list. Do they contact me later to schedule the appointment?

I find their site a bit confusing and want to make sure I am not doing something wrong.

Also my status says "incomplete". I have done all the steps and submitted my documents. Is it incomplete because I am not signed up for a workshop or had an over the phone conference?

Thanks!! Cassie

[MP927]

Originally Posted by Cassietw

Question: I am trying to schedule an in-person meeting or over the phone meeting with NACA. I don't see any appointments, only a waiting list. Do they contact me later to schedule the appointment?

I find their site a bit confusing and want to make sure I am not doing something wrong.

Also my status says "incomplete". I have done all the steps and submitted my documents. Is it incomplete because I am not signed up for a workshop or had an over the phone conference?

Thanks!! Cassie

Hi Cassie,

The appointment schedule is a bit confusing. When I made my appointment for the phone session, it only had a few select times available for about a 7 day period. I think more slots open up as the calender passes.

My status at NACA said 'incomplete' for many weeks after I submitted and did my interview. The NACA rep said it would go to the underwriter after my submission so it took awhile after that. One evening I happened to check my status and while I was there it changed to "submit to servicer-restructure". It made my whole day*week*month*year!! Now the waiting begins...but like you mentioned it took a whole lot of time to get here and we have realize it takes awhile to fix the messes.

[Cassietw]

Thanks for the response MP927!

Good to know I am not the only one who thinks its a bit confusing.

Well there were no appoinment times listed and only an option for a waiting list. So I will patiently wait for the call.

Wishing you TONS of luck on yours! How long are you into the process?

Cassie

[MP927]

Originally Posted by Cassietw

Thanks for the response MP927!

Good to know I am not the only one who thinks its a bit confusing.

Well there were no appoinment times listed and only an option for a waiting list. So I will patiently wait for the call.

Wishing you TONS of luck on yours! How long are you into the process?

Cassie

Wow really a waiting list...I must have gotten in there before a flood of new submissions. My timeline right now is I sent CW the hardship info on 2.6.09, it is reflected in our account as a workout 'other'. Then NACA only submitted to them within the last 10-14 days so we are in the infant stages.
I wish you loads of luck too! I am in So Cal. as well...

[Cassietw]

MP927,

Yep, a waiting list. But I am not complaining. It is better than trying to come up with $3500.00 for a Rip-Off Loan mod company, or a lawyer. You don't really know what you are paying for. I wish I would have found this months ago. I have a friend here in Socal who paid a loan mod company $4500.00. They told her the only way they could help her was for her to stop making payments. She made no payments for 6 months due to their advice. When all was said and done, she had all the past due and penalties rolled into her loan, she owes more on her house now. Her payments only went down $400.00 a month and extended an additional 10 years! And....they didn't touch her second! (She didn't know that they were only working on her first) So she ended up still 6 months behind on her second, still facing foreclosure since her second was so far behind. But her experience kept me from getting a personal loan (to pay the mod company) and signing on with a loan mod company I was looking into. They wanted $3500.00 and kept telling me to stop making payments. Then, found out they were not listed on the Calif website saying they were licensed and approved by the state to accept up front fees for modifications.

I resorted to the internet to try and research and see what could be done and found LoanSafe! Thank Goodness!

I can only hope more people find LoanSafe and that NACA gets more help to continue helping people! I can't wait to volunteer and help out!

I am off to find your thread and read your story.

Lotsa Luck Neighbor!

[Cassietw]

I called Countrywide again as I was concerned that if I qualified for the new President's workout program that wasting NACA's time when all CW would do is the plan would take away resources for those who desperately need NACA's help immediately and who are worse off.

Countrywide referred me to the website that explains the workout program. Felt like I was just being pawned off. Especially after I read the requirements for the President's program.

I went to FreddieMac and the FannieMae website. Put in a query to find out if either one was one of those loans. NOPE!

Since I owe $630,000.00 on the house, and it is now worth between $430,000.00 and $452,000.00 depending on what site you go to, I think I am definitely over the 105% mark. Honestly, I don't know many homes in California that would fit the requirements unless the home was purchased well over 5 years ago before the housing boom.

Anyway, it helps me to know that I don't qualify for the program because the program would only put me right back where I am now in 5 years.

Dare to be right, Dare to be rich, Dare to win this fight!!!

[gray517]

Cassietw
login into Naca right now there are phone appointments available ( i wanted to see what your were seeing as I never saw a wait list so i logged in) for next week starting on tuesday pick at least 3 different times to make sure you get called.

[gray517]

when you log in if you have trouble click on submission, if you have done the 10 steps it should take you to page to schedule in person or phone interview

[Cassietw]

Thanks Gray517! I just logged in and there was only one appointment for 5PM on Monday so I took it, I will keep checking back. Thanks!

How do I know what number they are going to call? Can I call them and tell someone what number to call? I will be at work, the loan is in my hubby's name and I want them to call me on my cell if possible.

Or, will they call the house??? Boy, maybe I will leave work early and be home just in case........

I wanna do this right....

Dare to be right, Dare to be rich, Dare to win this fight!

[gray517]

after login if the screen doesn't open up to it, go to the drop down box under homesave and click on submission, if you have submitted all your steps online it shoud give you the option to schedule in-person or phone appointment, click on phone appointment and it should bring up the next five days and give you the option to go futher out to the next five days, at the top is box that had my home phone number in it, it looks like it puts in whatever number you regsitered with maybe you can edit or change that to your cell as well, there are a lot of appointments for wed and you can even go to the next few days, pick at least 3 and make sure you are selecting phone appointment not in-person.

[gray517]

ok just looked again they have my home and cell numbers and a box to add a different number. there are 3 appointments on tuesday 3/10, 5 appointment times on wed 3/11 and 6 appointment times on thurs and friday available that are open, make sure you are clicking on phone counseling appointment