My CW story continues....what a mess!!!! - Page 2 - Loan Modification Forum

chasepmt2hot-firefighter · 03-17-2009, 08:16 PM

3% for the life of the loan... that would be awesome...

rozuki · 03-19-2009, 07:12 PM

Yes, it would be....I am keeping that number in my thoughts as I see countrywide has approved quite a few NACA proposals at very low interest for life of loan...sometimes as low as 2%!

I am not being greedy...I have a jumbo loan and am getting divorced...
3% (or lower...wouldn't that be awesome??) would enable me to cover everything per month on my salary and still be able to eat and feed my pets!

rozuki · 03-24-2009, 09:01 PM

I hope someone can clarify this for me...this is from the Obama HASP...

"Determine how much of an interest rate reduction is required to get the borrower's mortgage payment to 31% DTI, and if the DTI still exceeds 31% at the rate floor of 2%, modify the loan in other respects specified in the Guidelines;

• Apply a Net Present Value (NPV) test to determine if modification (including the incentive payments) provides the investor with a better financial outcome than foreclosure. If yes:"

With our current income being at least a third less(and maybe more!) than last year there is no way I can pay my current mtg payment. I have a jumbo loan of 635k at 10.55 (I know it's crazy!!) that I have been paying on time the last 18 months....March is the first month I will not be paying.

I meet all the criteria for Obama's new plan....but even at a floor of 2% mtg rate on my loan amount...it would still be over 50% of the monthly income.

What is Net Present Value???

rozuki · 03-25-2009, 03:59 PM

I hope someone can clarify this for me...this is from the Obama HASP...

"Determine how much of an interest rate reduction is required to get the borrower's mortgage payment to 31% DTI, and if the DTI still exceeds 31% at the rate floor of 2%, modify the loan in other respects specified in the Guidelines;

• Apply a Net Present Value (NPV) test to determine if modification (including the incentive payments) provides the investor with a better financial outcome than foreclosure. If yes:........."

With our current income being at least a third less this year (and maybe more!) than last year there is no way I can pay my current mtg payment. I have a jumbo loan of 635k at 10.55 (I know it's crazy!!) that I have been paying on time the last 18 months....March is the first month I will not be paying.

I meet all the criteria for Obama's new plan....but even at a floor of 2% mtg rate on my loan amount...it would still be over 50% of the monthly income.

What is Net Present Value??? Would this make it possible to lower the principal amount of the mortgage??

tandm · 03-25-2009, 05:47 PM

rozuki -

I've been trying to figure out the same thing. I think it means this:

The bank determines what they could sell the home for after they foreclose on you in today's current market. Then they use some sort of formula to determine what the realtor, advertising, maintenance, etc. might cost and subtract that off of it. I'm thinking the number left would be the net present value.

Then, they determine the amount they would make if they modified your loan (not principal payments but interest). You can determine that by googling "mortgage calculator" and plugging in your numbers. I think the interest over the life of the loan needs to be higher than what they would receive if they foreclosed, sold the home, subtracted the expenses.

Not sure if that's it but I have been seeing that phrase as well and wondering what it was and discussed it just this morning.

I've been thinking that the banks are looking to see if they reduce the interest down to an amount that fits you into the 38% or 31% ratio debt to income over 40 years and the interest rate nets them over the life of the loan less than what they could foreseeably sell the home for in today's market, you don't pass the test.

Does that make sense?

rozuki · 03-25-2009, 08:30 PM

Yes, it does make sense, Tandm...kind of what I was thinking it might be.

Thanks!

rozuki · 04-14-2009, 08:29 PM

Hi, just wanted to update my saga....I had my phone appointment with a NACA counselor tonight! Appt was for 7 pm....counselor called at 7:15. We spent 1 hour and 45 minutes going over the paperwork I uploaded and my expenses. I still need 1 more paystub and my homeowner's insurance declarations page uploaded for her to finish the restructure paperwork for submission to CW. Will do that tomorrow...then we have another appt Thurs evening to go over what NACA comes up with. Keeping my fingers crossed....because this is going to take a miracle.....and by the end of April I will officially be two months behind in mtg payments....

tandm · 04-14-2009, 09:51 PM

Good luck Rozuki - we're 7 months behind.

rozuki · 04-18-2009, 10:25 AM

Update to my update! Had my second phone appt Thursday with the NACA counselor. They are submitting a proposal to basically cut my mortgage (PITI) by 50%. After deducting my taxes and insurance, it comes out to approx a 3.5% fixed 30 yr mtg (I have currently a 10.55 arm/40 year!).

My only problem is that I kept stressing that I am divorcing and my stbxh will not be able to give me much for the mortgage (actually I don't think he will kick in anything...he would prefer to let it go into foreclosure or short sale or DIL. So a 2% would really be better...as it is now, if they approve the proposal ...based on my take home pay.....I can only eat every other month...maybe...

rozuki · 04-28-2009, 06:30 PM

As of 5/1, I will be officially two months late paying mortgage and there is not enough in my escrow account with CW/BofA.

Will they pay the propery taxes on my behalf as they always have? Or should I go down to town hall and pay them myself????

I submitted for loan mod with NACA mid-April.

Moe Bedard · 04-28-2009, 06:39 PM

if you are escrowed for taxes and your account is short..........CW will pay the taxes..........then they will normally take that shortage and spread it out of a number of months and add it to the current monthly escrow.

rozuki · 04-28-2009, 07:11 PM

Thanks, ***!

lostsoul1 · 04-28-2009, 09:05 PM

yea.. my payments were 1900 mo and went up to 2170 on a 30 year fixed.. I called CW and they told me my escrow went negative. nice... add another nail to the casket =-/

rozuki · 04-29-2009, 03:11 PM

My escrow went negative because last year around February, CW sent me a check for 2300 bucks...saying it was an overage in my escrow. Helloooo...guess what? Now I don't have enough in my escrow so they jacked up my already way too high mtg payment for the next 12 months to cover this shortfall....

aarghh!!!!

rozuki · 05-04-2009, 08:30 PM

I submitted through NACA on 4/17/09 and was never asked for bank statements? Only uploaded paystubs, mtg settlement page, home owners insurance, property tax statement and electronic signature page? I didn't even write a hardship letter outside of what I wrote on the NACA website as the reasons for my modification request: divorce, stbx's 65% reduction in salary as of 12/1/08...My NACA page says submit to servicer-restructure....so I am sitting here waiting for two weeks to pass so I can call NACA. If I have to submit bank statements for the last few months will it cause a problem if they see a large amount from tax refund? The way my stbx's pay is structured...he would receive a few bonuses during the year which are taxed heavily....so we get a lot back when we file. I have used that money to pay off cc debts, timeshare, etc. as CW wasn't taking me seriously when I first called in October to request a loan modification. They said I would have to be 2 months behind to get a "real" loan modification. I am now two months behind and probably now only have about 1 1/2 month's of payments in the bank. Does CW request all of the owed payments at once if they agree to NACA's proposal or do they spread it out over a certain time frame (like 5 years????).

rozuki · 05-04-2009, 08:46 PM

I just received two letters this week from BofA: First one informing me they were cancelling my credit card. The second one informing me that they were lowering the card's limit to 500.00 because I am delinquent now and have been seriously delinquent in the past!! Credit limit was 24,000.00!!! I haven't used the card in two years....and I had paid it off in full 4 years ago....and paid it off again 2 years ago when I refinanced.

The part about being seriously delinquent in the past annoys me as I have never been more than occasionally 35 days late due to forgetting to mail or pay the bill online!!!

This is all CW's fault for yanking me around for months when I first started the loan mod process and then telling me they would only deal with me if I was 60 days late....now my credit score is in the toilet. Is there any way to fight this, if and when I get a loan modification, as this will spill over into so many different areas (car insurance rate, homeowner's insurance cost, other credit cards, etc) where you wind up paying more because of a bad credit score???? Anyone have any experience with this?

rozuki · 06-10-2009, 06:29 PM

Ok, folks....good news tonight!!!! I figured I would post it here on my original thread...

Called NACA tonight for an update....my call was answered within seconds!!
Cynthia, who answered, said "Are you calling about the offer you received?"

I said "I haven't received any phone calls or emails today from NACA." She said my Naca negotiator sent me an email today. But I had checked my email before calling and nothing had come in. But strange things happen sometimes, and I told her to hold on....I will check it again. Sure enough, there it was....came in at 2:48 pm!!!

My offer from CW/BofA is for 2%!!!!!!! I thought I was going to faint! First payment due July 1st. NACA submitted me for 3.5%.

Now I await the paperwork and hope this all holds together.....and I can finally get off this rollercoaster ride!!

***, can you change my emoticon to a smiley face or a thumbs up!!!

sarge · 06-10-2009, 06:33 PM

Thats great news for you rozuki. And even better than they negotiated! Awesome!!

tandm · 06-10-2009, 06:40 PM

Rozuki ~

So happy for you! That is wonderful - I was reading this thread and back in March, you said if only you could get 3% and here it is - 2%!!!!!!! Well congratulations, Rozuki! That is just perfect. Thank goodness for NACA, this forum and all of our dedication to this process.

rozuki · 06-10-2009, 06:43 PM

Thanks, Sarge!!

...and thanks to all on this loansafe forum and to NACA! I don't know where I would be right now if I hadn't found this place when I did my Google search that day I got the unacceptable CW loan mod...so I also thank God for the invention of the internet, too! (Oops...maybe I should be thanking Al Gore for that..LOL)

Keeping fingers crossed all goes smoothly now...

rozuki · 06-10-2009, 07:32 PM

Ok, folks....good news tonight!!!! I figured I would post it here on my original thread...

Called NACA tonight for an update....my call was answered within seconds!! I asked for an update.
Cynthia, who answered, said "Are you calling about the offer you received?"

I said "I haven't received any phone calls or emails today from NACA." She said my Naca negotiator sent me an email today. But I had checked my email before calling and nothing had come in. But strange things happen sometimes, and I told her to hold on....I will check it again. Sure enough, there it was....came in at 2:48 pm!!!

My offer from CW/BofA is for 2%!!!!!!! I thought I was going to faint! First payment due July 1st. NACA submitted me for 3.5%.

Now I await the paperwork and hope this all holds together.....and I can finally get off this rollercoaster ride!!

***, can you change my emoticon to a smiley face or a thumbs up!!!

CW California · 06-10-2009, 07:45 PM

rozuki that is just awsome. Mind sharing your investor and original loan type?

rozuki · 06-10-2009, 07:58 PM

CW California,

Thanks...It is awesome, isn't it??? Still can't believe it...

NACA told me my loan was with Countrywide itself, so I guess now it is with BofA. It was a 2 yr ARM for 10.55/40 year term done in 2007 to help cover renovations (I originally had a 6.5/30 yr - so you know I was kicking myself for getting into that whole renovation mess!)

The ARM was due to reset July 1st 2009....

CW California · 06-10-2009, 08:08 PM

There really doesn't seem to be a rhyme or reason on who gets approved does there?

nbtapia1 · 06-10-2009, 08:11 PM

Quote:

Originally Posted by rozuki

Ok, folks....good news tonight!!!! I figured I would post it here on my original thread...

Called NACA tonight for an update....my call was answered within seconds!! I asked for an update.
Cynthia, who answered, said "Are you calling about the offer you received?"

I said "I haven't received any phone calls or emails today from NACA." She said my Naca negotiator sent me an email today. But I had checked my email before calling and nothing had come in. But strange things happen sometimes, and I told her to hold on....I will check it again. Sure enough, there it was....came in at 2:48 pm!!!

My offer from CW/BofA is for 2%!!!!!!! I thought I was going to faint! First payment due July 1st. NACA submitted me for 3.5%.

Now I await the paperwork and hope this all holds together.....and I can finally get off this rollercoaster ride!!

***, can you change my emoticon to a smiley face or a thumbs up!!!

WOW! 2% 30 yrs fixed?

03-17-2009, 08:16 PM	#26 (permalink)
chasepmt2hot-firefighter Senior Member Join Date: Jan 2009 Posts: 220	Re: My CW story continues....what a mess!!!! 3% for the life of the loan... that would be awesome...

03-19-2009, 07:12 PM	#27 (permalink)
rozuki Senior Member Join Date: Mar 2009 Location: Long Island NY Posts: 356	Re: My CW story continues....what a mess!!!! Yes, it would be....I am keeping that number in my thoughts as I see countrywide has approved quite a few NACA proposals at very low interest for life of loan...sometimes as low as 2%! I am not being greedy...I have a jumbo loan and am getting divorced... 3% (or lower...wouldn't that be awesome??) would enable me to cover everything per month on my salary and still be able to eat and feed my pets!

03-24-2009, 09:01 PM	#28 (permalink)
rozuki Senior Member Join Date: Mar 2009 Location: Long Island NY Posts: 356	Re: My CW story continues....what a mess!!!! I hope someone can clarify this for me...this is from the Obama HASP... "Determine how much of an interest rate reduction is required to get the borrower's mortgage payment to 31% DTI, and if the DTI still exceeds 31% at the rate floor of 2%, modify the loan in other respects specified in the Guidelines; • Apply a Net Present Value (NPV) test to determine if modification (including the incentive payments) provides the investor with a better financial outcome than foreclosure. If yes:" With our current income being at least a third less(and maybe more!) than last year there is no way I can pay my current mtg payment. I have a jumbo loan of 635k at 10.55 (I know it's crazy!!) that I have been paying on time the last 18 months....March is the first month I will not be paying. I meet all the criteria for Obama's new plan....but even at a floor of 2% mtg rate on my loan amount...it would still be over 50% of the monthly income. What is Net Present Value???

03-25-2009, 03:59 PM	#29 (permalink)
rozuki Senior Member Join Date: Mar 2009 Location: Long Island NY Posts: 356	what is npv??? I hope someone can clarify this for me...this is from the Obama HASP... "Determine how much of an interest rate reduction is required to get the borrower's mortgage payment to 31% DTI, and if the DTI still exceeds 31% at the rate floor of 2%, modify the loan in other respects specified in the Guidelines; • Apply a Net Present Value (NPV) test to determine if modification (including the incentive payments) provides the investor with a better financial outcome than foreclosure. If yes:........." With our current income being at least a third less this year (and maybe more!) than last year there is no way I can pay my current mtg payment. I have a jumbo loan of 635k at 10.55 (I know it's crazy!!) that I have been paying on time the last 18 months....March is the first month I will not be paying. I meet all the criteria for Obama's new plan....but even at a floor of 2% mtg rate on my loan amount...it would still be over 50% of the monthly income. What is Net Present Value??? Would this make it possible to lower the principal amount of the mortgage??

03-25-2009, 05:47 PM	#30 (permalink)
tandm Senior Member Join Date: Jan 2009 Location: Orange County, CA Posts: 163	Re: what is npv??? rozuki - I've been trying to figure out the same thing. I think it means this: The bank determines what they could sell the home for after they foreclose on you in today's current market. Then they use some sort of formula to determine what the realtor, advertising, maintenance, etc. might cost and subtract that off of it. I'm thinking the number left would be the net present value. Then, they determine the amount they would make if they modified your loan (not principal payments but interest). You can determine that by googling "mortgage calculator" and plugging in your numbers. I think the interest over the life of the loan needs to be higher than what they would receive if they foreclosed, sold the home, subtracted the expenses. Not sure if that's it but I have been seeing that phrase as well and wondering what it was and discussed it just this morning. I've been thinking that the banks are looking to see if they reduce the interest down to an amount that fits you into the 38% or 31% ratio debt to income over 40 years and the interest rate nets them over the life of the loan less than what they could foreseeably sell the home for in today's market, you don't pass the test. Does that make sense?

03-25-2009, 08:30 PM	#31 (permalink)
rozuki Senior Member Join Date: Mar 2009 Location: Long Island NY Posts: 356	Re: what is npv??? Yes, it does make sense, Tandm...kind of what I was thinking it might be. Thanks!

04-14-2009, 08:29 PM	#32 (permalink)
rozuki Senior Member Join Date: Mar 2009 Location: Long Island NY Posts: 356	Re: My CW story continues....what a mess!!!! Hi, just wanted to update my saga....I had my phone appointment with a NACA counselor tonight! Appt was for 7 pm....counselor called at 7:15. We spent 1 hour and 45 minutes going over the paperwork I uploaded and my expenses. I still need 1 more paystub and my homeowner's insurance declarations page uploaded for her to finish the restructure paperwork for submission to CW. Will do that tomorrow...then we have another appt Thurs evening to go over what NACA comes up with. Keeping my fingers crossed....because this is going to take a miracle.....and by the end of April I will officially be two months behind in mtg payments....

04-14-2009, 09:51 PM	#33 (permalink)
tandm Senior Member Join Date: Jan 2009 Location: Orange County, CA Posts: 163	Re: My CW story continues....what a mess!!!! Good luck Rozuki - we're 7 months behind.

04-18-2009, 10:25 AM	#34 (permalink)
rozuki Senior Member Join Date: Mar 2009 Location: Long Island NY Posts: 356	Re: My CW story continues....what a mess!!!! Update to my update! Had my second phone appt Thursday with the NACA counselor. They are submitting a proposal to basically cut my mortgage (PITI) by 50%. After deducting my taxes and insurance, it comes out to approx a 3.5% fixed 30 yr mtg (I have currently a 10.55 arm/40 year!). My only problem is that I kept stressing that I am divorcing and my stbxh will not be able to give me much for the mortgage (actually I don't think he will kick in anything...he would prefer to let it go into foreclosure or short sale or DIL. So a 2% would really be better...as it is now, if they approve the proposal ...based on my take home pay.....I can only eat every other month...maybe...

04-28-2009, 06:30 PM	#35 (permalink)
rozuki Senior Member Join Date: Mar 2009 Location: Long Island NY Posts: 356	My prop taxes are due 5/1...will cw/boa pay them???? As of 5/1, I will be officially two months late paying mortgage and there is not enough in my escrow account with CW/BofA. Will they pay the propery taxes on my behalf as they always have? Or should I go down to town hall and pay them myself???? I submitted for loan mod with NACA mid-April.

04-28-2009, 06:39 PM	#36 (permalink)
Moe Bedard Founder Join Date: Aug 2007 Location: Southern California Posts: 16,685	Re: My CW story continues....what a mess!!!! if you are escrowed for taxes and your account is short..........CW will pay the taxes..........then they will normally take that shortage and spread it out of a number of months and add it to the current monthly escrow. __________________ Moe Bedard Founder LoanSafe.org "America's #1 Home Loan Forum" LoanWorkout.org "America's # Loan Modification Blog" Get My FREE Loan Modification E-Book \| Please donate to LoanSafe.org \| Loan Modification Training For Attorneys \| Rate Your Mortgage Servicer The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Please Read our Privacy Policy and Legal Disclaimer Here.

04-28-2009, 07:11 PM	#37 (permalink)
rozuki Senior Member Join Date: Mar 2009 Location: Long Island NY Posts: 356	Re: My CW story continues....what a mess!!!! Thanks, ***!

04-28-2009, 09:05 PM	#38 (permalink)
lostsoul1 Member Join Date: Apr 2009 Posts: 26	Re: My CW story continues....what a mess!!!! yea.. my payments were 1900 mo and went up to 2170 on a 30 year fixed.. I called CW and they told me my escrow went negative. nice... add another nail to the casket =-/

04-29-2009, 03:11 PM	#39 (permalink)
rozuki Senior Member Join Date: Mar 2009 Location: Long Island NY Posts: 356	Re: My CW story continues....what a mess!!!! My escrow went negative because last year around February, CW sent me a check for 2300 bucks...saying it was an overage in my escrow. Helloooo...guess what? Now I don't have enough in my escrow so they jacked up my already way too high mtg payment for the next 12 months to cover this shortfall.... aarghh!!!!

05-04-2009, 08:30 PM	#40 (permalink)
rozuki Senior Member Join Date: Mar 2009 Location: Long Island NY Posts: 356	Re: My CW story continues....what a mess!!!! I submitted through NACA on 4/17/09 and was never asked for bank statements? Only uploaded paystubs, mtg settlement page, home owners insurance, property tax statement and electronic signature page? I didn't even write a hardship letter outside of what I wrote on the NACA website as the reasons for my modification request: divorce, stbx's 65% reduction in salary as of 12/1/08...My NACA page says submit to servicer-restructure....so I am sitting here waiting for two weeks to pass so I can call NACA. If I have to submit bank statements for the last few months will it cause a problem if they see a large amount from tax refund? The way my stbx's pay is structured...he would receive a few bonuses during the year which are taxed heavily....so we get a lot back when we file. I have used that money to pay off cc debts, timeshare, etc. as CW wasn't taking me seriously when I first called in October to request a loan modification. They said I would have to be 2 months behind to get a "real" loan modification. I am now two months behind and probably now only have about 1 1/2 month's of payments in the bank. Does CW request all of the owed payments at once if they agree to NACA's proposal or do they spread it out over a certain time frame (like 5 years????).

05-04-2009, 08:46 PM	#41 (permalink)
rozuki Senior Member Join Date: Mar 2009 Location: Long Island NY Posts: 356	Re: My CW story continues....what a mess!!!! I just received two letters this week from BofA: First one informing me they were cancelling my credit card. The second one informing me that they were lowering the card's limit to 500.00 because I am delinquent now and have been seriously delinquent in the past!! Credit limit was 24,000.00!!! I haven't used the card in two years....and I had paid it off in full 4 years ago....and paid it off again 2 years ago when I refinanced. The part about being seriously delinquent in the past annoys me as I have never been more than occasionally 35 days late due to forgetting to mail or pay the bill online!!! This is all CW's fault for yanking me around for months when I first started the loan mod process and then telling me they would only deal with me if I was 60 days late....now my credit score is in the toilet. Is there any way to fight this, if and when I get a loan modification, as this will spill over into so many different areas (car insurance rate, homeowner's insurance cost, other credit cards, etc) where you wind up paying more because of a bad credit score???? Anyone have any experience with this?

06-10-2009, 06:29 PM	#42 (permalink)
rozuki Senior Member Join Date: Mar 2009 Location: Long Island NY Posts: 356	Re: My CW story continues....what a mess!!!! Ok, folks....good news tonight!!!! I figured I would post it here on my original thread... Called NACA tonight for an update....my call was answered within seconds!! Cynthia, who answered, said "Are you calling about the offer you received?" I said "I haven't received any phone calls or emails today from NACA." She said my Naca negotiator sent me an email today. But I had checked my email before calling and nothing had come in. But strange things happen sometimes, and I told her to hold on....I will check it again. Sure enough, there it was....came in at 2:48 pm!!! My offer from CW/BofA is for 2%!!!!!!! I thought I was going to faint! First payment due July 1st. NACA submitted me for 3.5%. Now I await the paperwork and hope this all holds together.....and I can finally get off this rollercoaster ride!! ***, can you change my emoticon to a smiley face or a thumbs up!!!

06-10-2009, 06:33 PM	#43 (permalink)
sarge Senior Member Join Date: Mar 2009 Location: Coastal NC Posts: 307	Re: My CW story continues....what a mess!!!! Thats great news for you rozuki. And even better than they negotiated! Awesome!!

06-10-2009, 06:40 PM	#44 (permalink)
tandm Senior Member Join Date: Jan 2009 Location: Orange County, CA Posts: 163	Re: My CW story continues....what a mess!!!! Rozuki ~ So happy for you! That is wonderful - I was reading this thread and back in March, you said if only you could get 3% and here it is - 2%!!!!!!! Well congratulations, Rozuki! That is just perfect. Thank goodness for NACA, this forum and all of our dedication to this process.

06-10-2009, 06:43 PM	#45 (permalink)
rozuki Senior Member Join Date: Mar 2009 Location: Long Island NY Posts: 356	Re: My CW story continues....what a mess!!!! Thanks, Sarge!! ...and thanks to all on this loansafe forum and to NACA! I don't know where I would be right now if I hadn't found this place when I did my Google search that day I got the unacceptable CW loan mod...so I also thank God for the invention of the internet, too! (Oops...maybe I should be thanking Al Gore for that..LOL) Keeping fingers crossed all goes smoothly now...

06-10-2009, 07:32 PM	#46 (permalink)
rozuki Senior Member Join Date: Mar 2009 Location: Long Island NY Posts: 356	Re: My CW story continues....what a mess!!!! Ok, folks....good news tonight!!!! I figured I would post it here on my original thread... Called NACA tonight for an update....my call was answered within seconds!! I asked for an update. Cynthia, who answered, said "Are you calling about the offer you received?" I said "I haven't received any phone calls or emails today from NACA." She said my Naca negotiator sent me an email today. But I had checked my email before calling and nothing had come in. But strange things happen sometimes, and I told her to hold on....I will check it again. Sure enough, there it was....came in at 2:48 pm!!! My offer from CW/BofA is for 2%!!!!!!! I thought I was going to faint! First payment due July 1st. NACA submitted me for 3.5%. Now I await the paperwork and hope this all holds together.....and I can finally get off this rollercoaster ride!! ***, can you change my emoticon to a smiley face or a thumbs up!!!

06-10-2009, 07:45 PM	#47 (permalink)
CW California Senior Member Join Date: Feb 2009 Location: SoCal Posts: 1,124	Re: My CW story continues....what a mess!!!! rozuki that is just awsome. Mind sharing your investor and original loan type?

06-10-2009, 07:58 PM	#48 (permalink)
rozuki Senior Member Join Date: Mar 2009 Location: Long Island NY Posts: 356	Re: My CW story continues....what a mess!!!! CW California, Thanks...It is awesome, isn't it??? Still can't believe it... NACA told me my loan was with Countrywide itself, so I guess now it is with BofA. It was a 2 yr ARM for 10.55/40 year term done in 2007 to help cover renovations (I originally had a 6.5/30 yr - so you know I was kicking myself for getting into that whole renovation mess!) The ARM was due to reset July 1st 2009....

06-10-2009, 08:08 PM	#49 (permalink)
CW California Senior Member Join Date: Feb 2009 Location: SoCal Posts: 1,124	Re: My CW story continues....what a mess!!!! There really doesn't seem to be a rhyme or reason on who gets approved does there?

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