Worried - NACA Submitted since 1/20/09 and still nothing

[yaya01]

I spoke with my Countrywide negotiator again today to discuss what other options we have.

I asked her about the modifications offered by Freddie and Fannie in which Wells Fargo was also present and she said she has not recieved any information about that. She also told me that I have a conventional loan with an adjustable rate mortgage and these loans are not being flagged for the "new" modifications. Only the subprime and negative amortization are being flagged at this time.

I explained to her again that although the 5.25% is a really good rate, we cannot afford it at this time and that is why we are behind on the payments. I asked if they would consider a lower rate for a period of time and then the 5.25% for the life of the loan. She said all she could do was ask and while I was on the phone she sent an e-mail to Wells Fargo requesting 4% for 12 month and 5.25% for the rest of the term.

She also told me if I decide to go with the Short Sale option, they are authorized by Wells Fargo to handle the negotiation. We have had the house listed since September so according to her, all we have to do is drop the price to market value and if we get an offer she will submit the package to the appropriate department.

I think I would rather go the foreclosure route and live rent free for a few months so we can at least get some of the money we spent remodeling the house. Otherwise the realtor will get more than $30,000 for just listing the house and I will still have to file bk to get rid of the Wamu HELOC.

Will wait and see what they come back with. At least they have not told me we don't qualify or that there is something wrong with our financials. Also, who knows what other new plans they are going to come up with once the new president starts.

[yaya01]

NACA submitted our restructure to CW on 1/20/09. It has been 2 months and no response yet. CW filed the NOD on 2/13/09 but there is no sale date yet. I call NACA every week and all they say is there is no response. CW collections department keeps calling me asking what my intentions are with the property and they show now record of having anything from NACA on file. I have informed NACA and they keep telling me that there are different departments and they do have comfirmation that CW received the electronic submission of my file.
CW has continue with the foreclosure process. At this point I don't know if I should continue waiting, try to negotiate directly with CW or hire an attorney. I'm affraid that CW will eventually set a sale date and no one ever reviewed my file. I feel I should be trying some other ways but I'm also affraid I might get things confused.

[N2Deep]

Originally Posted by yaya01

NACA submitted our restructure to CW on 1/20/09. It has been 2 months and no response yet. CW filed the NOD on 2/13/09 but there is no sale date yet. I call NACA every week and all they say is there is no response. CW collections department keeps calling me asking what my intentions are with the property and they show now record of having anything from NACA on file. I have informed NACA and they keep telling me that there are different departments and they do have comfirmation that CW received the electronic submission of my file.
CW has continue with the foreclosure process. At this point I don't know if I should continue waiting, try to negotiate directly with CW or hire an attorney. I'm affraid that CW will eventually set a sale date and no one ever reviewed my file. I feel I should be trying some other ways but I'm also affraid I might get things confused.

I would call CW and try to get into a modification review process of any kind. Not really to have them do anything except stop the foreclosure process and collections.
The waitng process is at least 30-60 days which should give NACA some more time. Then I would call the advocacy dept in CW and give them your NACA ID number.

[FLgata]

YaYa, you may want to contact the CW Advocacy Team at:
1-877-327-9225 and give them your NACA ID#. This is the department at CW that deals directly with non-profit organizations. Hopefully, the calls will stop and it may "fast-track" your proposal.

[tandknix]

yaya01...Same thing happened to me...just keep telling CW you are working with NACA. Sometimes you have to explain what NACA is to them because no one seems to know (or care).

I also think that trying to get them to work w/you on a mod is another time tactic that is good. That's what we did

[yaya01]

My docs were submitted to CW through NACA since 01/20/09 and still no answer.

We have not made a payment since 09/08 and CW filed the NOD on 2/13/09. In another 30 days they can set a Sale Date.

We continue to get the calls from CW Collections and they show nothing on file about NACA. I call NACA every 2 weeks and have informed them. They tell me the same thing they tell everyone else. No update...keep waiting....you'll be notified by e-mail.

Have called the various departments at CW and they show nothing from NACA on file.

I'm able now to access my CW account online but there is nothing showing a mod but I was not able to access account information before.

I have submitted the emergency request through NACA's website since las week and no response yet.

My questions is, NACA has told me before that CW under contract with NACA will not set a Sale but CW has continue the Foreclosure process. How can they not set a Sale date when they don't even show any record of modification through NACA on my account?

Again, our information was submitted to CW through NACA on 01/20/09 and our investor is Wells Fargo.

Thank you.

[FLgata]

Good Morning YaYa!

I feel so bad for you. I know the "not knowing" can be very difficult. If I were you, I would call the NACA tomorrow morning and request a "follow-up" from CW. During one conversation with an NACA representative, I was told they can request them once every 30 days. Have you called the Advocacy Team at CW yet? I would probably call them again, confirm that is the department I was talking to and give them your NACA ID #. If it is, you should get a cold shoulder approach, and the representative will probably inform you that they can no longer discuss account details with you since you chose the NACA to represent you.

NACA submitted my proposal on 12/31/08 and I got my acceptance email on 3/19/09. It took almost three months, so please be patient and hang in there.

Good Luck and please keep us posted.

[yaya01]

I have called CW at all the available numbers but they said the NACA ID is not necessary since there is nothing in the system. They just keep telling me the collection calls will continue unless the loan is current.

I have not tried a mod again through CW because NACA told me I shouldn't since that would only slow down the process.

I guess I'll just keep waiting to see what happens. I was just wondering if anyone else was experiencing the same problems.

Thank you.

[sherman]

Yaya, call the CW Advocacy department tomorrow and just simply ask them if they have your NACA ID on file. This will tell you weather they have received it or not before you call NACA. If they do not have your NACA ID then give it to them and tell them that you are working with NACA. Hope this helps. Let us know what happens and hang in there.

[teenut]

Hang in ther yaya, dont get discouraged due to CW not having any knowledge of your NACA info. When I went through the process, they act like they didnt have a clue and others have reported the same thing. Just keep following up with NACA for your status and advise them of any forclosure activity as soon as possible. Many have been able to get there sale dates stops.

[dthom]

NACA submited our proposal to CW on 1/26 and we have heard nothing yet either. NACA now has me calling them once a week for update. I call again today. Last week the rep did tell me that based on when we were submitted and the fact that CW finally reviewed in Feb 26 we should have news about our restructure before May. This is first month we will not be making a full payment. We will try to come up with a partial, but if CW won't accept NACA just told us not to worry about it. Easy for them to say,huh? Hang in there YaYa!

[15119DOVE]

Naca submitted my file 2/2/09 nothing yet. CW Advocacy dept didn't even see my naca id nor the file. They have me fax my info to them 3/31/09 now my CW acct said don't call back after 4/15. Naca told me they submitted and not everyone at CW see the file call back every 2wks request update. We paid partial this month to CW & not pay property tax the 2nd half. We also contact local non profit org approved by HUD they also faxed another proposal loan mod 4/3/09. I hope this not adding any confusing to CW but to tell them we are desperate.

[MP927]

It's pretty typical to not get straight answers from CW. You just have to put your trust and faith in NACA to work on your behalf. If NACA says they are submitting to CW, they are-and it will just take some time for results.

[sandyg]

Originally Posted by MP927

It's pretty typical to not get straight answers from CW. You just have to put your trust and faith in NACA to work on your behalf. If NACA says they are submitting to CW, they are-and it will just take some time for results.

Don't want to throw a monkey wrench into all of this about NACA submitting files when they say they are but.. my experience was NACA said they were finished with me and they were submitting my file. 3 weeks later I had phone session to check on progressand they said they were waiting on my HOA doc's. I had already sent the HOA in.

Anyway, due to the delay they then asked for 1 more months of bank statements and another self employment work sheet and it took an addittional 5 days until I was assurred that the file was sent to CW. So that was about a 30 day delay, ouch!!!!

I trust NACA and I know it was probably a fluke but make sure your proposal was sent!!!!

[MP927]

Oh yeah that is good to verify it was sent to CW. My status showed "Incomplete" for about 30 days after I submitted everything to them, then one day bam...it said "submitted to servicer-restructure"
I know they are only human and will drop the ball from time to time. I'm sorry this happened to you. Hopefully your result will not take as long as 30 days.

[debdog]

Mine says "pending" on the NACA website.

I'm hoping we get what they proposed.

[yaya01]

My NACA account has said "Submitted to Servicer - Restructure" since it was submitted on 01/20/09. I just called them and again, the same answer. No update yet. What worries me is that they are not even able to tell me if anyone at CW has even open my file.

[dthom]

Got the same answer today also. Also had no idea if CW had even looked at the file. Just said that CW is the worst to work with and very slow. Ours submitted on 1/26. Rep told me tonite it could take 4 months or more to hear anything. Told not to call back again for 2 to 3 weeks. Last two times I was told to call back in a week.

[debdog]

CW is the worst...someday when we sell our house we will never use CW again, or whomever takes over it.

[yaya01]

I called NACA last Monday and no update. CW is reviewing the file but they have not made a decision. The NACA rep told me to call back in 2 weeks. I told her that beginning on the 13th of May, CW can set the sale date. She just said to use the Urgent link on NACA's website if that happended and they would "attempt" to stop it. I questioned why she said "attempt" and she explained that it is not 100% sure that they can stop the sale. This conflicts with information I was given before since I had been reassured by another NACA rep that CW has a signed contract with them where they would not go through with the sale as long as they are working on a modification.

CW collection calls have stopped for almost a month. I don't know if they stopped the collection calls because they are going to set the sale date or because of the NACA restructure. There is still no indication of a NACA modification on my CW on-line account.

We consulted with an attorney last week and he suggested waiting until we get an answer from NACA since attempting a new modification would only get things confused. He also said that if CW/Wells Fargo did not accept the NACA modification, we would have to wait 90 days before submitting a new mod and by then it would be too late since we are so advanced on the foreclosure process. Not good news but at least we are glad he did not lie to us just to take our money.

So for now, just waiting to see what happens.

[cobra]

YaYa;

I know full well the feeling. I am 6 mos. behind but NACA submitted my restructure proposal to CW on 4-9. I have become very frustrated with the lack of accurate information from CW and the simple lack of ANY information from NACA. I know it will take a while longer and I am going to be able to make a full payment the end of the month.

However...my concern is why won't CW just hold off until the mod is considered? No one will talk to me at CW. They say call NACA. NACA says they have no information from CW! Not good. I started writing the President of BOA home loan group to try and speed up the process.
Her name and address have been posted here for others to use as well.

Lets all hang in there. There is supposed to be a large of mods in a week or so. Maybe yours in in that group.

Cobra....BTW...Your and my situations are almost identical.

[dthom]

YaYa01, I know how you feel our restructure was submitted by NACA on 1/26 and as of last week told the same thing, still no word from CW and they sent another email request thru for an update. We are just one month behind so far, hope to get a payment in sometime this month. We may raid the IRA to do that. Husband says since it only has about 9k in it he may just close it altogether. If we don't hear something soon, we will start planning seriously for the worst but hope for the best. Hope that all of January submittals will finally hear something from the next batch of mods that we keep hearing about. Today I too, sent an email to President of BOA, I have also sent emails to my senators and to our Atty General about a week ago, but no response so far. We aren't going down without a fight for this house.

[yaya01]

It's been so long since our file was submitted that I wonder if they are going to request updated financials.

I wish at least we had some certainty that someone is really reviewing or working on it. There is nothing in writing and my biggest fear is that our file is lost in Lalaland and all this waiting has been waisted time.

We too have been preparing for the worst and hoping for the best.

Mod or no mod, we will have to file bk due to the HELOC but that's another story. Either way we are not getting out of this without some sort of negative impact on our credit but I know something good will come out of it.

Good Luck and I will post any updates.

Thank you.

[dthom]

OMG I had emailed BOA just about 2 hours ago, and I just got 2 calls from Customer Relations( formerly Office of the President) First call they tried to get me to leave NACA I said I preferred not to do that. Then called right back and said I could give their name and number to NACA and they could call them direct and send over docs to them directly and they could get a negotiator assigned, and that I could get a yes or decision more quickly.

What does everyone think? Does this sound like a good idea, should I contact NACA and let them know that I emailed office of the President and now they want me to have NACA call them directly, or will NACA be upset that I did this on my own without telling them first.

*** or Dan feel free to let me know what you think also if you are out there.

[Rumor]

Dthom,

I spoke to Naca today and she told me that contacting CW for updates in entirely up to us but Naca is negotiating on our part. I don't see a problem with trying to get your problem solved quicker if it helps you in the long run. Unless of course, Naca is against it...