FHA/NACA In Las Vegas

[Melanie702]

Originally Posted by mmcgill63

Melanie, I have only made one payment and my loan is one year old. It is not the law but a guideline. I am sure they can work around it if they wanted to. Ginnie Mae is the investor for FHA loans.

I have Ginnie Mae also. They will give every excuse not to help. And I'm sure they can work around it too. I'm in the same boat, but we've made more than 4 payments on ours, but still being turned down.

[mmcgill63]

I contacted FHA directly to see what step I should now take after being declined by NACA and BOA. I was referred to an organization who may help. You should call the FHA Servicing Center at 800 225 5342. They will ask you a few questions they put you in touch with an hud certified organization who works on FHA loans. They advised they will contact my lender and submit the budget we worked on. Not sure if anything will come out of this, but at least I tried.

[Melanie702]

Originally Posted by mmcgill63

I contacted FHA directly to see what step I should now take after being declined by NACA and BOA. I was referred to an organization who may help. You should call the FHA Servicing Center at 800 225 5342. They will ask you a few questions they put you in touch with an hud certified organization who works on FHA loans. They advised they will contact my lender and submit the budget we worked on. Not sure if anything will come out of this, but at least I tried.

Thank you. This will be my next step. I'll call them on my lunch break. Thanks a lot. I was actually looking for their number. I'm so tried of dealing with this crap!

[dtap57]

mmcgill, I have not gotten a loan mod on my FHA loan. Im still working with Chase but so far nothing has been hammered out yet. You have only made one payment in the last 12 months? I do know if there is any advantage to having a FHA loan is that they do try to do everything possible not to foreclose on you.

[mmcgill63]

I am hopeful that something can be worked out. Right now I am so burnt out from working on this with NACA/BOA for nearly a year. I just keep thinking did NACA not know the guidelines for FHA modifications. I will continue to see what I can do, as I want to keep my house. I was served foreclosure papers on 8/20 and will response hoping that if nothing else happens, we can end up in mediation. Did speak with Kevin Winn at NACA who advised he was sending an email to BOA to see what else they can do. I am debating sending another letter to the President of Home Loans.

[Fairlady]

Originally Posted by mmcgill63

I contacted FHA directly to see what step I should now take after being declined by NACA and BOA. I was referred to an organization who may help. You should call the FHA Servicing Center at 800 225 5342. They will ask you a few questions they put you in touch with an hud certified organization who works on FHA loans. They advised they will contact my lender and submit the budget we worked on. Not sure if anything will come out of this, but at least I tried.

Thanks for that number. I may have to contact them too of nothing comes from NACA. I have been waiting since April and BOA is not cooperating thus far. The only update I got from NACA a few weeks ago was that BOA wanted to raise my mortgage payment because we are behind. That makes absolutely no sense. We are struggling to make our current payment and submitted for a mod to get it reduced. I swear some of the people at BOA are not too bright. Ugh! So my Naca negotiator is supposedly trying to work something out. I've never had any contact from the negotiator and only know what the Naca rep who answers the phone told me. I am bummed since I have not been able to get through to David L's number lately. It's always busy busy busy. I'm thinking you are right mmcgill63 about Naca not knowing about the FHA guidelines. This whole process is so frustrating.

[dtap57]

I talked to Chase today and they offer me a reduction of 120.00 dollars of my 2150.00 payment on my FHA loan. It is a 3 month forebearance plan. I see a lot of people getting there payments in half on the forebearance plans. I told them we lost 7000.00 in income this year but they told me right now this was the best they could do. I didn't give them an answer yet. Im going to wait and see what happens with the new Obama/FHA plan.

[mpsoni]

Hi Guys,

I have my FHA loan through WF. My loan is also less than an year old..however I have made I think 10 payments so far..and have been current..

My restructure papers were submitted by NACA on Aug 27th...and I have been told by WF that the loan has to be at least an year old....Do you suggest I should just wait or contact HUD to go with different agency other than NACA who specializes in FHA loan mods with the servicers?

Havent heard much abt other agencies as much as NACA..

Thx

[mmcgill63]

It appears NACA has changed their tone and basically I feel they are saying they are not responsible for whatever the outcome of your submitted request it. If that is the case, why do we need NACA. See below.

***PLEASE NOTE: THIS IS AN AUTOMATED MESSAGE. DO NOT REPLY TO THIS MESSAGE BY EMAIL. THIS IS AN OUTBOUND CALL CENTER IN WHICH CALLS CANNOT BE RECEIVED***** IF YOU HAVE QUESTIONS ON YOUR STATUS, OR NEED TO SET A PHONE APPT. PLEASE CALL (888) 302-6222


"Dear

You will need to call 888-404-6222 for all future updates to your file since it has been submitted to the lender. Our part in the process here at the Counseling Center is complete and you should not schedule any more online appointments. We ask that you give your lender about a month to review the submission and if you hear anything from them in regards to our re-structure prior to that, please have them send you whatever they are proposing in writing then fax it in to us using your NACA fax cover sheet or upload it via the NACA website. That way when you call the above number, the person on the other end of the line will be looking at the same thing you have so you can go over the fine print and make sure it is a workable solution for you. If you have not heard anything and it has been six weeks since your file was submitted, call that same number and they can get an update from the lender to find out what is going on with your account. Make sure that you keep the lines of communication open with the mortgage company and answer their calls letting them know that the loss mitigation department has a solution from NACA because it is completely up to the investor backing the loan as to what they are willing to accept in regards to changing the terms of your loan. What you can do for yourself is to go to usa.gov or www.naca.com in order to find out the name of your local representatives and contact them. We have just given the banks billions of dollars and no one is holding them accountable. The only way they are going to change their practices is through pressure from the lawmakers and the people they listen to are you their constituent. No one is going to fight harder for you than you and I strongly urge you to advocate for yourself, going all the way to the CEO of your mortgage company if necessary. Continue to make your regular monthly mortgage payments as long as the lender is accepting them and if they stop then set that money aside as if they still were. Oftentimes the lender requires a substantial good-faith payment in order to set you up on a plan so try to save as much money as possible in preparation for this. Lastly, if all else fails you may want to seek legal advice to see what options may be available to help you save your home if your lender is unwilling to work with you.

Thank you for your continued patience,

NACA Homesave team"