My CW story continues....what a mess!!!!

[rozuki]

The email just says the new rate will be for the "life of the loan". I have 38 yrs left on the 40 year that I took out in 2007...so I assume it's the same term? NACA said it will be stated on the paperwork I receive from CW/BofA....

I think it would be too much to hope for that they decided to give me a 30 yr term in addition to the great interest rate!

[rozuki]

Thanks, Tandm...I am on cloud 9 right now! So relieved......

[das0331]

Wow there is hope out there! Question did they tack on the missed payments to your loan?

[cobra]

Rozuki;

I just read the news!!!!!!!!! Way to go!!!! Now you know how I felt two weeks ago!!
Great news. I am really so happy for you!!

Rumor, J-Nice, Others...HANG IN THERE!!!!!!

Cobra

[rozuki]

Originally Posted by das0331

Wow there is hope out there! Question did they tack on the missed payments to your loan?

Yes, I would say there is hope judging by the email I got! 4 "capped" payments were placed onto loan....but it looks to me like it was only the interest not principal and interest?

[rozuki]

Originally Posted by cobra

Rozuki;

I just read the news!!!!!!!!! Way to go!!!! Now you know how I felt two weeks ago!!
Great news. I am really so happy for you!!

Rumor, J-Nice, Others...HANG IN THERE!!!!!!

Cobra

Thanks, Cobra....now I know exactly how you felt!! Definitely hang in there all.....miracles do happen!

[chrisb]

rozuki,

congratulations!! it is an awesome and relieving feeling isnt it? I am happy for you, this nightmare is practically over for us

[bossguy66]

yes, it would be the interest being capped because the principal is already there.

[rozuki]

Originally Posted by chrisb

rozuki,

congratulations!! it is an awesome and relieving feeling isnt it? I am happy for you, this nightmare is practically over for us

Thank you, ChrisB! It's been a looonggg nightmare that's for sure...maybe we can now can start dreaming about fun stuff again....

[rozuki]

Originally Posted by bossguy66

yes, it would be the interest being capped because the principal is already there.

Yes, they added the interest not the principal part of the payment. I knew that....LOL What the heck was I thinking?? i am telling you...I am getting loopy from the lack of sleep!


Although when I got my first CW silly loan mod offers....I wasn't even late and they were tacking on 23K in interest!!!!

[cobra]

Hey Rozuki;

Couple of things for you. First....my loan docs came about four days after I got the NACA email. Reviewed them with wife and went right to the notary. Sent to CW the same day. They were delivered to the CW mailromm the next day! I took a screen shot of the delivery infor just in case...you know!
Docs actually showed up on CW workout page several days later although my actual account is not updated yet. This morning I got the NACA email others are getting.
So..NACA is backlogged as well as CWBOA. NACA has not updated my status page yet. Still says submitted to servicer.

Cobra

[sarge]

Originally Posted by cobra

Hey Rozuki;

NACA has not updated my status page yet. Still says submitted to servicer.

Cobra

Thanks for that info Cobra. I had asked Rumor or someone earlier if their NACA status had changed and haven't heard yet. Mine hasn't and I got the email. Just wondered if there was a connection.

[rozuki]

Cobra,

Thanks, you know I am on pins and needles now waiting for my docs!

Just checked my workout information page at CW...nothing changed yet.

Sarge,

I never got the NACA/Bruce Marks email that so many others got today, now I am wondering why not?

[cobra]

Sarge;

Yea...I bet NACA pullsmailing data from the status section. Also suspect until CW sends some kind of "official" notification to NACA they do not mark our accounts as "completed". So...I guess thats why we got those emails. Also today I got a actual letter from BoA dated 6-5 telling me if I need to check on the progress of my mod to please contact NACA. I suspect BOA is really overloaded and trying to divert alot of their inbound phone traffic back to NACA. Problem is that neither of these companies could have forseen the volume of people needing help and the customer service bottleneck created when no one single person is responsible for working with a client.
Really...a one year moritorium of owner occupied homes is needed.

Cobra

[sarge]

I guess it would be hard to see how many of those 7-9 million homeowners might need help. Especially if you have all those dollar signs in your eyes from the taxpayers blocking your view.

Rozuki, Has your NACA status changed?

[rozuki]

Originally Posted by sarge

I guess it would be hard to see how many of those 7-9 million homeowners might need help. Especially if you have all those dollar signs in your eyes from the taxpayers blocking your view.

Rozuki, Has your NACA status changed?

Yes, Sarge, it has! Now says approved...I posted it on a different thread somewhere here on the forum.

The only strange thing is that it says if i haven't received my docs by 8/11, I should call. Yet my NACA approval email states my first payment at the new rate is July 1st......

[rozuki]

Oh wait...my NACA status! I thought you meant my workout page info.....I am going to go check that NACA status right now!!!

[rozuki]

My NACA status has not changed yet - still "Restructure - Submit to Servicer"......

[sarge]

Well, there goes that theory. Thanks for the info rozuki. My NACA status is the same as yours. Curious how some got the email and others didn't.

[rozuki]

Perhaps it went to those who have been waiting a certain period of time since NACA submitted them?

I got my approval 54 days after submitting....my investor was CW....or so I was told.

I know if I was waiting several months I would be happy to receive that email.....what other company is hiring 1,000 people this month????? I think it's great and will lead to getting the mods done that much faster.


I just hope they get to the backlogged ones first!!! So hang in there everyone.....

[cobra]

My NACA status still shows...submit to servicer-restructure.
Also got a letter from person at BoA today telling me to not contact them but to go through NACA. I don't think the person who wrote it knows I am all ready approved.
NACA hiring 1,000 people in Charlotte call center. That is great news because I think there is going to be way more people needing help.

Cobra

[sarge]

My NACA status shows the same as Cobra's. I am originally from the Charlotte area and they can use some jobs with the loss of jobs in construction and one of the largest banking centers.

[rozuki]

Just got a slap in the face today! My mainstay credit card, which I have had for 30 years now and never, ever been late with and currently have 100.00 balance...just sent me a letter that they are lowering my credit limit from 15k to 4400k....


I quote..."This is due to your recent serious delinquencies."

Has anyone had any luck after you got your mod, in having CW/BofA reverse the damage done to your credit score????

[tandm]

I've had several credit cards with 20k balances that were down to 1000 or less do the same thing over these past 8 months. I don't think BofA will reverse damage (I don't know if they really can legally anyway). So we just have to wait it out for several years - sadly, this is the best way to really make your point - that you can't afford the current loan.

I hope you'll be okay with the loss of access to that credit.

[rozuki]

Tandm,

It just bugs me the way the letters are worded - "We periodically check your past history with us.....and you have a history of serious delinquencies with other creditors".

I will be okay, but it just really makes me mad how CW/BofA has made us ruin our credit due to their ineptitude and jerking us around (in my case for 5 months) when I was trying to be pro-active about the loan mod process.