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

[FLgata]

Originally Posted by sarge

First payment is due July 1. Being old fashioned, have still been writing checks. They have accepted every one, even though we were behind. My plan is to send the payment along with a copy of my mod terms to the Ca. address on the docs until they update the website. Maybe I should send them a thank you note too.

LOL! I am also a check writer. When I go into a store, I picture those commercials where the music is playing and everything is flowing just perfectly, until I step up to the cashier and pull out the pen and check book.

As for what you wrote above, that is exactly what I did (minus the thank you letter). I copied the pages from the modification which stated the new amount, which I highlighted, and included a letter stating that I wanted the additional monies added to the principle. My first payment was due June 1st and I sent a check in early May. I received a July statement at the end of May and sent it in immediately. BOA emailed me stating they received it on June 4th.

[FLgata]

Originally Posted by rozuki

Thanks, Flgata!


Question for you: did you say somewhere on here that you demanded that the bank remove the negative credit reporting once you got your loan mod? I know I saw somebody post something about that here....and I thought it might have been you? If so, whatever happened?

Good Morning Rozuki!

Again, sorry for the delayed response. Unfortunately, that wasn't me. My credit is beyond repair. I do plan on working to get it back to where it was, but that will take some time. I do appreciate Faith's response. Looks like some good info there.

[Rumor]

Rozuki,

If you don't mind me asking..what is the cashiers check for? Is it for July's payment? Just want to know what to expect if our mod comes back approved.

[rozuki]

Originally Posted by Rumor

Rozuki,

If you don't mind me asking..what is the cashiers check for? Is it for July's payment? Just want to know what to expect if our mod comes back approved.

Rumor,

i don't mind! The docs state that the July payment must be either cashier's check or money order. Not sure why....but if that's what they want that is what they will get!

[cobra]

Rozuki;

I just double checked my loan docs and cannot find anything about the July payment needing to be a cashiers ck. or M.O.-Where did you see that? Maybe ours are different, which is probably the case.
Also..where are you going to send the payment? My docs indicate Simi Valley, Ca but the regular payment coupon show Texas. Where are you going to send it?

Cobra

[angel12]

I went to NACA homesave event in July 2008. Still trying to get a modification from Countrywide. My house in now in foreclosure and I have an order to docket.NACA told me to wait for sale date and they will try to get it posponed I found out 2 weeks ago that Freddic Mac owns my mortgage. Called NACA with this info told to call back in 2 weeks Has anyone had any success with NACA and Countrywide in getting loan mod. I have been to 2 NACA events and people are claimimg to get loan mods the same day

[sarge]

Welcome angel12,

There are many successes here but it seems that Freddie appears to be harder to deal with. Just an observation from posts I have read here. Here is a post from another thread on April submissions. None of which were done in a day, that's a first for me. One day would be awesome.

Originally Posted by NeedHelpwCW

Summary of April Submittals:


Hang in there everyone.

[rozuki]

Originally Posted by cobra

Rozuki;

I just double checked my loan docs and cannot find anything about the July payment needing to be a cashiers ck. or M.O.-Where did you see that? Maybe ours are different, which is probably the case.
Also..where are you going to send the payment? My docs indicate Simi Valley, Ca but the regular payment coupon show Texas. Where are you going to send it?

Cobra

Sarge,

The last page of the docs state to fedex this package back to BAC Home Retention Division along with a certified check (which is a bank or "cashiers check") or a money order to Simi Valley, CA by June 22.....which to me means they will not accept a personal check...

[FLgata]

Hi guys,

I always send personal checks for my payments. I think (if I remember correctly), they ask for a cashier's check or money order if they are requesting upfront money to complete the modification (which they didn't in my case). However, your paperwork may read differently than mine did.

[cobra]

Goodmorning all;

Thanks for the response regarding the cashiers check.

Cobra

[rozuki]

you're welcome, Sarge....I mean Cobra!!
I tell ya I need more sleep...I clearly knew it was you that asked me that question!

[rozuki]

Originally Posted by FLgata

Hi guys,

I always send personal checks for my payments. I think (if I remember correctly), they ask for a cashier's check or money order if they are requesting upfront money to complete the modification (which they didn't in my case). However, your paperwork may read differently than mine did.

Good morning all,

No upfront funds were asked for (that part was all 0's)....in my case, they are tacking payments owed onto the principal. Not sure why they want a bank check or money order from me.....maybe because i am not current?

[FLgata]

Hi Rozuki,

I had missed eight months of payments which were added to my principal, but no money required up front to complete loan mod. My first payment was due on June first and I paid with a personal check (and no statement...just sent what I listed above).

[cobra]

Rozuki and Flgata;
I was 7 months behind. They did not ask for any upfront funds. Missed payments added to the back end. Guess I'll send a cashiers check just to get the money out of my account because I have no idea when they'll cash my check. I'm going to call my contact in boa to see if they can get my online info adjusted prior to my payment getting there.

Cobra.......NACA mod approved 5/29

[sarge]

Hey guys,

Just checked the mod and the only mention for certified funds is for any upfront costs of which there was none. In the body of the mod agreement it only states to send the funds to Ca. no mention of how to send them.

[rozuki]

Ok, I took a breathe and read the docs again...

Under the What You Should Do heading:

The following amount must be paid in CERTIFIED FUNDS in order for mod to become effective:

A list of fees follows, all of which in my case are zeros.

The last sentence under the THE FOLLOWING DOCUMENTS HAVE BEEN ENCLOSED section reads:

Please return all of the enclosed documents to us in the enclosed pre-paid FED EX envelope no later than June 22, 2009 together with a certified check or money order (with loan number on the check) in the amount of $0.00 to the following address:

BAC
bla bla bla
Simi Valley, Ca

So it reads to me almost like they don't want me to send money? I will be sending in a bank check for the July 1st payment amount anyway, just to be on the safe side!!

[dthom]

angel12

I have been waiting since Jan 26 for my mod with NACA and my investor is also Freddie Mac, so I agree with Sarge, Freddie seems to be the real problem. They asked for updated income info on May 12, I sent in on May 15. As of this week NACA has still not gotten a response to any of their update requests. I am now 2 monhts past due (CW/BofA would not accept a partial payment this month,because I am with NACA). Sometimes I think that Freddie wants the house back. Now I am afraid they will want updated income proof again, and since husband had to start taking taxes( fed and state) from unemployment checks to hopefully avoid a tax bill next year we now have $60 less every two weeks in his check. Worried that if they do an update again, this will mess things up.
I found an article a while back about NACA getting an agreement with Fannie Mae, and at that time they were working on getting same from Freddie Mac, but I have never been able to find anything else, so I assume Freddie is holding out still.

[gray517]

dthom

I know you are trying to do the right thing and pay your mortgage, but I can't help but wonder (in you personal situation) if the fact that even though you struggle to do so you are making you payments every month and the lender views this as you don't really have a hardship. I wonder if you didn't pay for a couple of months (keeping the money saved, in case you need to make up payments later) if this would speed up or help your modification get done. I would of course not advise anyone on whether to make or not make thier payments, but if I was in your situation and not getting anywhere I would consider doing this. It does affect your credit, but in this economy unless you have a 700-800 score getting credit is next to impossible anyway, and alot of lenders and Credit Card companies are not giving credit regardless of your score right now.

[dthom]

Gray

We are hanging on to the $1000 we were going to be able to come up with this month since they would not take it, although it is only a partial. Had an emergency car repair of over $500 which made it impossible to come up with full payment anyway. Next month if they won't accept will hold onto the payment again at least I can say I tried to make the payment. I agree maybe if they realize we just can't do this anymore they will move faster. I am hoping to hear some news before that happens though. As for redit score, what is that. Got notified last night that one of my cards will charge off on 7/11. I couldn't affor their offer of huge payments to get current, or eveh $78 to keep it out of charge off for one more month. Oh well, credit really trashed now, so I don't really care anymore. Just concentrating on the house.. Hate to think what our score is now, on second thought, I don't want to know right now.

[dthom]

Gray

A p.s

Darn hard to hold on to that money when you are behind on other bills. Considering pulling it out of the account, just in case another creditor tries taking money out. but hate keeping large amounts of cash in the house, and haven't had saving account since I don't know when.

[CW California]

Originally Posted by gray517

dthom

I know you are trying to do the right thing and pay your mortgage, but I can't help but wonder (in you personal situation) if the fact that even though you struggle to do so you are making you payments every month and the lender views this as you don't really have a hardship. I wonder if you didn't pay for a couple of months (keeping the money saved, in case you need to make up payments later) if this would speed up or help your modification get done. I would of course not advise anyone on whether to make or not make thier payments, but if I was in your situation and not getting anywhere I would consider doing this. It does affect your credit, but in this economy unless you have a 700-800 score getting credit is next to impossible anyway, and alot of lenders and Credit Card companies are not giving credit regardless of your score right now.

Gray and dthom
This is so true. I still have perfect credit but my business credit was cancelled. In fact, more than one million businesses had their credit cancelled by this company. Sucks. When I tried to get another business line it was denied. Course like an idiot I tried from BofA where I have all my accounts so I'm not sure if they have flagged my business and or personal accounts because of the modification requests. I know they check personal for a personal guarantee on the business accounts or maybe it's just the economy. I want to move all my accounts to a different bank but because NACA required all my business statements I don't want to look like I'm pulling something if they require more months of statements into the process. I think I will at least wait until July or time it so the change is at the end of the month and all the business is at least at one bank per month. How does that sound? This is all just toooo much stresssss!

[angel12]

Hey,
Got a letter today stating my house will be sold on July 2nd. Called NACA was told same old story that I have been told since July 2008-send in recent pay stubs and sale date letter so they can update my file and call back in 2 weeks .My home will be sold in less than two weeks .Anyone have any suggestions?

[panther]

Don't worry, they will get it postponed. They can postpone 9 out of 10 times!!! The same thing happened to me today! Hopefully a good modification will come our way before the next date!

[rozuki]

Update to my confusion about certified checks etc...

I called NACA this afternoon (no waiting...phone was answered within seconds!!). I had uploaded the docs earlier...so phone person was able to see them......

I sent my mod docs back with only copies of the last two pay stubs. No check...since one was not requested to be sent.

In the "copy" set of the docs, it states where to mail the new payment and no mention is made that it has to be certified check. So i will mail off the new payment next Tuesday which should get it to Texas in plenty of time for July 1st!

[rozuki]

Just wanted to update my original thread:

I just mailed off my new payment today.....by personal check to the address on my loan mod docs.

In today's mail, Discover has notified me that based on information obtained in a report from the consumer reporting agency, Trans Union, they are closing my account due to past or present delinquent credit obligation as reported by agency.

I haven't used it in two years....it has a 0 balance and I was never late with a payment when I used it!

Oh joy! I think I will write to Trans Union and enclose a copy of my loan mod just so there is some record of what I have been through the last 8 months......and that I would like this noted in my account as the reason for delinquency, because CW told me I had to be late to get a loan modification!!!