My new CW adventure...continues

[cobra]

Thanks ***. I get it now. Been so stressed over all this I can't think straight!
Any additional advice would be appreciated.

Cobra

[Moe Bedard]

If they have you in processing you may want to ask them what happened to the announcement made on the 4th that states this..........


Any foreclosure action will be temporarily suspended during the trial period, or while borrowers are considered for alternative foreclosure prevention options. In the event that the Home Affordable Modification or alternative foreclosure prevention options fail, the foreclosure action may be resumed.

[cobra]

***;

Thanks for the information. Where exactly is that statement printed?

Cobra

[Dan Bailey]

Countrywide Financial - Real Estate Mortgage Lender - Home Loans - Equity Loan Mortgages

[rozuki]

Cobra,

I went through the same scenario with CW. Called, accepted into the loan mod program, faxed documents. Called and told they were having delays with faxed documents, call back in 5 days to see if they were received!

Called back and was told I was being denied because I was current on my payments....realized I was calling after hours and speaking with an Indian call center.


Called back during EST business hours and spoke to a rep in California, who "undenied" my account. Faxed paperwork to the same #'s you faxed to...
and received first loan mod package one month later...second loan package one week after that....and am expecting third loan package this week...as per CW's automated phone message that came last week! All packages so far totally unacceptable due to income hardship. This has been going on since October '08. I sent my information in to NACA last week online and signed up for their Apr 4th workshop in my area (Long Island, NY). March payment will be the first one I cannot send in on time...so I am guessing they will notice me now! If I cannot get a rate of 3% (or less!!) through NACA's intervention....then I will also be riding it out here til the sheriff comes to throw me out!


Hang in there...I just heard a talking head on CNN say these are extraordinary times we are in...worse than the depression of the '30's!!!! So who knows what is going to happen in the coming months.....

[Moe Bedard]

cobra,


The statement is printed right here in these guidelines for the new modification program...............9th square down.
http://www.treas.gov/press/releases/...guidelines.pdf

[cobra]

Who all has had success in sending letters to Countrywide President? Also how about Congresspeople and/or Senators?

Also who is the President of Countrywide?

Thanks,

Cobra

[Moe Bedard]

Nobody.............They are Bank of America and have been since July of 2008, and they will officially have the name changed to Bank of America on April 27th

[cobra]

Thanks ***! If you mean there is no one running the shop at Countrywide, that sure explains alot. I just got a denial letter today but the lady in the home retention department could not tell me why. She thought it was from the AG settelment arrangement and from what I have read those deals are not that good. However...on the "Make Home Affordable web site I
would qualify for the Obama plan.
My other issue is back payments when I was not working.
If they lowered my rate down from 8.65(and it adjusts in 2012) I could likely afford to pay back what is in arrears.

I had my phone consultation Thursday night with NACA and I know that is the way to go. So..I'll be letting NACA carry the ball going forward.

A stressed out Cobra...Love this site!!

[cobra]

UPDATE:

Received a loan mod from CW on 4-1 simply adding my missed payments
($12,000) to the end of the loan. No reduction in interest rate or lower payment. I have until the end of April to return it if I want to go with it.
It is not a good deal. Really not a loan mod just adding the missed payments to the end of the mortgage.

Then on 4-9 NACA submitted a restructure proposal to CW for me.
I called CW on 4-23 to see what was happening and the Advocacy Dept. says they have no record of my file coming from NACA but admitted they are 3 weeks behind in "processing".
I have called NACA today and the nice lady emailed the NACA contact at CW to make sure my information was there. I'm still not sure.
CW did tell me that once NACA is representing you that CW cannot talk to you and will refer you to NACA. Thats fine with me, I just need to know my file is at CW and not lost.

Still waiting.......Cobra

[cobra]

I am 7 months behind with CW, Notice to Accelerate ran out 4-9.
I have a loan mod which I have to return today to CW, which will hold off the F/C going forward.
Also have a restructure plan submitted by NACA on 4-8, but have no answer back yet.

Question is: If I send the CW mod back will I still be able to go with the NACA restructure plan once it is approved?
Or....could you still apply for another mod like "Make Home Affordable" plan.

Cobra

[lostinlife]

I could be wrong but I think that if you return the CW then NACA will not work foryou anymore. Not 100% sure though

[cobra]

Update:
As some of you know, I made the decision last Friday NOT to accept the crappie loan mod from CW which added the missed payments to the back of the loan. So this morning my workout status on the CW web site finally changed and now shows "loan mod cancelled and normal collections activities will continue". So the CW loan mod is off the table now. My NACA restructure plan was submitted on 4-8, (but no news yet from CW or NACA_).
So...my question is....Since the NACA plan is in house at CW, will the status page be updated now to reflect the NACA plan in "workout". Just wondering so I can be ready if collections starts calling me for a payment.
Also have not heard a word yet from any of the letters I've recently written.
Has anyone heard if the large group of mods coming out soon thru NACA have any of the April submissions in them? That sure would be great but I'm not getting my hopes up! The adventure continues.

Cobra

[dthom]

Our CW account now shows no workout info and a note to contact them if we need financial assistance. This is the third time it has changed since NACA submitted. So don't go by their website. As for the mods that we hear are coming out thru NACA. Hard to say. We have been waiting since 1/26 and still no word. Let's hope this next batch includes all of us and that things are moving more quickly now.

[cobra]

Dthom;

I agree...I'm going to call CW and NACA again today. Will post later if any real news.

Cobra

[ELENA7077]

our acct is shows no workout info submit with NACA on 3/30 & i call every other day CW and NACA, today is the day to call

[Katie3773]

Hey Elena707,
Hey what came after pending on the NACA sight? Hope your well!!! I keep u in my thoughts...

[ELENA7077]

i still have the Submit to Servicer - Restructure . you guys are still in our prayers
fficeffice" />>>

[cobra]

UPDATE-
NACA submitted restructure plan on 4/8. approved. Got email from NACA this morning.
Details are:
8.65 adj down to 2.25 fixed.
missed payments $16,000+ capitalized to end of loan.
No principle reduction
payment goes from $2,550 to $1502 starting 7/1/09
Docs coming in 2-3 weeks
My thoughts:
1. Certified letter to Barbara Desoer helped draw attention to the many delays.
2. Letters to congresspeople worthless, but looks good on letter to BOA.
3. Copy to local TV station probably got some attention from BOA.
4. Emails to Desoer did not hurt.

So.....I am not niave enough to think the fight is over. /Still have to get docs, and monitor them going back to BOA.
Also if anyone is in doubt about writing and sending certified letters don't be.
It is your house so who would fault you for advocating for your own home.
If they did, they would be stupid.
Work with NACA, advicate for your home.
My case is not complicated. I lost my job so we only had one income.
Not enough to pay all the bills. Got new job for half as much as before.
Could not pay $2,550 per month. Fell behind but despratley wanted to stay in home.
So....I was almost at the point of forclosure and could not understand why we could not get the ball moving. You would think it better for all to keep us in our home instead of forclosure. That is what I articulated to Barbara Desoer. Did it help? I think so.
So...why do I have this feeling that the other shoe is about to drop?!!

Cobra
So..Rozuki, dthom, J-Nice, rumor, zbasspro and others...we will keep fighting together.
Semper Fi

[j-nice]

Cobra-

Congratulations!!!

Can you please tell me again what state you are in and who your investor is? You have got to be over joyed. Congratulations, again.

[sarge]

Congratulations Cobra. Great to hear you came out on top. My email said 2 weeks but the docs arrived in 2-3 days.

[cobra]

J-Nice;

We are in Florida and were 7-8 months behind. Facing FC any day.
Investor is Bank of New York.

Yes. I am so thankful it got done before the FC was put in place. That would have killed my wife. I could live in a little trailer as long as it was in Key West (LOL) but wife not that kind of person. She needs this house if something ever happens to me.

[Cassietw]

CONGRATS!!!! Whoo Hoo! Hope you get your papers soon!!!

[j-nice]

Enjoy your weekend...you two can finally sleep well tonight!

[HereinNY]

COBRA-I am so happy for you and your wife...you give me hope.