Naca / Country wide Mod Help wanted

[melissann20]

I have a question. We are in a neg am loan. Crazy underwater but up to date on our payments. 6 months ago our lender suggested a lawyer they were working with that would help us with a mod for 1500.00 . Last month we were told by the lender that the lawyer could not help us because we are current on our payments. I decided to try NACA , because of this awesome web site. Naca is currently working on getting a mod for us. Well, today our lender calls us and sayd they are willing to try to do the mod THEMSELVES free of charge. The lender tells us the lawyer turned doen alot of their clients but now they are having luck themselves. Should I let them try free of charge, or will this default me from NACA. I'm wondering if two people working on loan mod would be a better chance of getting a mod. or is it going to mess everything up? Thanks in advance for any help!!!!!

[mgallant]

I would call NACA and see what they have to do before agreeing to do anyhting with CW!

I do believe that you may jeopardize your MOD with NACA if you start a MOD with CW.

[FLgata]

This is just my opinion, but I would let them both work on something. From my understanding, as long as you don't agree to a modification from the lender, the NACA will still work on your behalf. The NACA told me that I could continue to negotiate with CW because it is always good to have a "Plan B". You know what the NACA is proposing, so why not see what CW has to offer. I doubt it will be better than what the NACA can do, but you never know. I wouldn't sign anything from the lender or agree to only utilize them. If they request that, then I would just let the NACA work it's magic. Again, JMO.

[Evan Bedard]

Good advise Flgata once you sign those docs you will be stuck with those terms at least for the next 12 months, until you can submit for another modification!!