Help!!? what to say when talking to lender

[Corrina]

Hello All,

Owe $294K at 6.25%, 30yr. fixed.

Like everyone else we are having money issues and mailed our June payment in "late".... when I called in July to let them know that it was on its way I was informed a packet had been mailed out. From this site I heard about NACA, looked them up, they had a workshop that weekend and went. An appt. was scheduled for the following week and was informed of what to take... yadda yadda yadda. I went to appt. (local office), did everything online with NACA and file went directly to lender (to which they were surprised). I also mailed in the packet to lender last week. Also, our July payment went out on Friday...

Here's my question - we are a 6 member household on one income (50K), our pymt. is over 51% of our gross income - we have depleted all of our savings and inturn turned to CC (which I have since closed out and got on payment plans) but the debt is high. I want to call the lender tomorrow, though I am digging my head in the sand, and want to find out if they have received my packet and the one from NACA (& that I am working w/them). I have been mulling over whether we should file BK for the CC dept. and if so do I mention that to the lender? and, if I do mention it do I say which kind? I want to use the right verbage so I don't come across like the village idiot. Any help or constructive critisism would be great.

[Evan Bedard]

Hi Corrina,

First off what kind of package did the lender send you to send back to them?

[Moe Bedard]

You can download my e-book and that will help a lot. Free-e-book | LoanSafe.org

Bankruptcy should be a last resort and you should wait until your loan modification is done. I think your credit cards can wait.

Call B OF A and ask if they have the package and if they don't call NACA and see what is going on. Tell B OF A to send it to you if NACA did not submit it. My guess is they did and you'll be fine. You just need to keep doing what your doing and keep fighting.

No more head in the sand please

[Corrina]

ha ha (head in sand) I am such a non-confrontational person and am dreading the head games that the lender(s) will probably do. I asked about the BK because when I did my interview with NACA she mentioned that the CC debt may be the only issue. The payment that they are requesting is awesome, but they also said that the lender (private investor) may want to tack on the CC balances which would make the payment go up $600.... which I don't want.

The packet that I mailed back was just a "why are you late" type of packet. Definately nothing suggesting a modification.