Do you know how to do NPV test?

[huz715]

Dear friend
Do you know how BOA or CW do NPV (net present value ) test?
I don't know what number need put in.


and my first loan with CW, second loan with BOA,
house is totally under water now
Where is better to submit my loan modification request?


Thanks in advance!

[Moe Bedard]

HI huz715,


Welcome to the forum and thank you for joining........


The NPV test is for the investors..........it isn't a test that we would have the information to figure that out on each loan, as it has to do with loan performance before and after a modification..........the investor will be performing the test on loans that are in default to determine whether it is in their best interest financially to modify or seek alternative means such as short sale, deed in lieu, or foreclosure.

A standard NPV Test will be required on each loan that is in Imminent Default or is at least 60 days delinquent under the MBA delinquency calculation. This NPV Test will compare the net present value (NPV) of cash flows expected from a modification to the net present value of cash flows expected in the absence of modification.





If you are trying to begin the modification process with CW...........you would need to contact them to see what the options are from the investor on your loan................

CW Home Retention
1-800-669-0102

[huz715]

Appreciate your help.
glad have this website and nice people help us.

I just worry about I can't pass the NPV test.
My loan amount is almost $729750.
need they do some principal forbearing or deduction.

do you know how they calculate the loan principal?
If I can't pay this month,
Will they add the late payment on my principal?


Thanks!

Nancy

[Moe Bedard]

Nancy,



What you would need to do is to give CW your information and let them tell you if you meet the criteria for the modification.............there is information that they will need from you to determine all of this............

Call CW and see what the options are from the investor on your loan.
1-800-669-0102

[huz715]

***:
thank you!

I will call them next monday.

I asked help on Nov,2008 before I delay payment.
only get a suggestion from their retention team : go to short sale.

I put 20%, $200K down when purchesed the house,
how can I give up everthing to do short sale even it is underwater now?

thanks!

Nancy

[Moe Bedard]

With the new program for modification.............they may be able to help you out this time........