ASC Scare Tactics or NACA?

live.in.peace · 02-16-2009, 02:11 PM

Need advice from anyone dealing with or have dealt with ASC (Wells Fargo) through NACA. I started the NACA process in November 08. After submitting the wrong budget, NACA resubmitted my information in December 08. Since then, everytime I get a call from ASC about payment I ask them the status of my loan modification. They always, without fail, have some excuse as to why nothing is being done. In the beginning they didn't know who NACA was, then they didn't have anything from NACA, then they didn't have a signed authorization form from NACA, then they needed updated paystubs from NACA...the excuses just go on and on. Today they said the last thing they received from NACA on my behalf was the authorization form on 1/13/09 so nothing is being done on my modification request. NACA tells me not to worry, that ASC is just telling me they aren't receiving things so I will forgo any efforts I'm trying to make through NACA. Meanwhile, I'm three months behind and received a letter from ASC recently stating that I had to pay over $7,000 before 2/17/09 to avoid foreclosure proceedings. I want to trust NACA, but at the same time they have made a few mistakes with my file. When I called for an update last week, they couldn't find me in the system because my ID number (which I have been using since November) was assigned to another member. I don't know who to trust. Should I believe NACA when they say that ASC is just trying to use scare tactics or do I believe ASC when they say they're not receiving information from NACA? Advice please!

live.in.peace · 02-17-2009, 11:41 AM

Anyone have any suggestions?

Moe Bedard · 02-17-2009, 11:51 AM

Unfortunately................this is a decision that only you will be able to make based on your situation as to who you are going to work with. We have many members working with NACA that are having very positive results.............NACA has been around for over 20 years and has helped many many homeowners to stay in their homes.

ASC is very difficult to work with as they are the servicing arm of Wells Fargo...........

LHarveyMadman · 02-17-2009, 02:02 PM

I didn't work with NACA, but I've read other folks' stories about them. This is my opinion: you need to stay on top of them the same way that you would stay on top of the lender if you were working directly with them.

They've definitely done great things for a lot of people here, but I also feel that they've given some false notions about what they can accomplish. They also have given what I consider to be some flatly incorrect information about at least one modification offer that was received by a member here.

Don't get me wrong, I think they are an honest, well-meaning, and noble enterprise. But they are staffed by humans who are prone to error, and they have their hands full now more than ever. Due diligence is required.

newbaby08 · 02-17-2009, 06:24 PM

i am dealing with asc on my own and honestly if you have naca on your side you might move quicker., they are very slow and mostly either do not have any info for you at this time, or it is not what you want to hear. I have also emailed wellsfargo directly to see if they can get that ball moving.

live.in.peace · 02-19-2009, 08:12 AM

Thanks everyone. I know for sure that I have to keep bugging NACA. I called yesterday to see if they had any insight about how the President's newly unveiled housing plan might affect NACA modification solutions and found out that ASC had requested updated paystubs (paystubs that I sent to NACA a week ago, that apparently weren't forwarded to ASC). The counselor told me to call back on Friday to make sure that the paystubs were sent this time. I've taken it upon myself to send letters to my senators and congressmen as well as the Wells Fargo board asking for assistance. We'll see what happens.