NACA/CW MAY Restructure Submittals

[Cassietw]

It's hard to say what they will do...

If it were me, I would find out who I could borrow the money from. 2% is awesome!!

[appollo]

I know, that is awsome but wish they could have started my new payment this month then I would be home free. I guess I will just ask Matthew since they sat on it since july 1, that is the least they could do for me. If not I will figure something out because I cannot lose that deal. Still cant believe it!!! Thanks anyway!!! Hope everything goes well for everyone else in limbo!!!

[Cassietw]

Totally meant to give you a huge CONGRATS!!!!!!

I hope it works out great for you!

Cassie

[appollo]

Thanks casietw!!! I hope it is ligit and goes through with no other bumps!!! All I can do is hope for the best right now!!! Thanks!!! Hope things go well for everyone else fighting for their home!! Will definitly keep you posted on the going-ons!!! Thanks to this forum I was introduced to NACA!!!!

[melissann20]

That is great Appollo!
Do you know who your investor is?
I am very happy for you!!!

[appollo]

I do not know who my investor is. They said I should be getting my paperwork in the mail so I am sure I will find out then. Will definitly keep everyone posted. Thanks for the Congrats!!

[CW California]

Originally Posted by appollo

I do not know who my investor is. They said I should be getting my paperwork in the mail so I am sure I will find out then. Will definitly keep everyone posted. Thanks for the Congrats!!

Naca does have an agreement to hold credit reporting with BofA during the mod process. You may want to ask David if that applies to your situation? That way you won't get a late pay this month. (But you have 30 days before they can report it on your credit report)

[tandm]

An update on our modification (Hi CW). Anyway, been told that our offer from BofA was submitted to "management" which I'm told includes our investor (BONY). Within 5 to 7 working days, they will agree or not to what our BofA negotiator is recommending. Principal forbearance was mentioned - but only to say they are trying not to go that route yet and will try to make an offer that fits our budget first. We'll see. I'll keep you all posted. Perhaps I'll see something this week. If not, gone next week so I won't know until the following week.

Got the email from NACA too this a.m.

Perhaps us June submittals will see something soon. As CW says... 2% uuummmm..... sending out the vibe.

[rjatl]

Update on my case...My NACA file was submitted to CW/BOA on May 21st. I had a July 1st foreclosure date which NACA was able to get pushed until September 1st pending the loan modification. Now I'm a week away from that date, with no word and unsuccessfull in trying to contact my negotiator of Danielle Bell. I emailed Ms. Barbara Dosoer this morning to see if she could refer me to someone who can help expedite this. Additionally, I contacted NACA again with the sale date with the hopes that it can be postponed in lieu of getting this resolved yet. Any other ideas on what I can do? Anyone else to contact? I knew it would take a few months...but I'm getting frustrated and nervous at this point.
Thank you....

[CW California]

Originally Posted by tandm

An update on our modification (Hi CW). Anyway, been told that our offer from BofA was submitted to "management" which I'm told includes our investor (BONY). Within 5 to 7 working days, they will agree or not to what our BofA negotiator is recommending. Principal forbearance was mentioned - but only to say they are trying not to go that route yet and will try to make an offer that fits our budget first. We'll see. I'll keep you all posted. Perhaps I'll see something this week. If not, gone next week so I won't know until the following week.

Got the email from NACA too this a.m.

Perhaps us June submittals will see something soon. As CW says... 2% uuummmm..... sending out the vibe.

2% hmmmmmmmmm 2%hmmmmmmmm Fingertips raised up!

[CW California]

Originally Posted by rjatl

Update on my case...My NACA file was submitted to CW/BOA on May 21st. I had a July 1st foreclosure date which NACA was able to get pushed until September 1st pending the loan modification. Now I'm a week away from that date, with no word and unsuccessfull in trying to contact my negotiator of Danielle Bell. I emailed Ms. Barbara Dosoer this morning to see if she could refer me to someone who can help expedite this. Additionally, I contacted NACA again with the sale date with the hopes that it can be postponed in lieu of getting this resolved yet. Any other ideas on what I can do? Anyone else to contact? I knew it would take a few months...but I'm getting frustrated and nervous at this point.
Thank you....

You could try contacting David Leighton in advocacy 866-806-2434 x8676 and ask him why your file seems to be stalled.

[rjatl]

CW California,
thank you. I will contact him also. I did get a call back from a Cynthia Perez from Bank of America, but as I suspected, she told me that she couldn't assist since I was working with NACA, though she would look into postponing the sale date once again. I also called the NACA number to speak with a representative since the first appointment I could get was 9/4 which is after the sale date, however I was only given the option to leave a message. I hope that I do receive a call back....however I will keep trying.
thank you very much.

[sleeplessinAZ]

When I've gotten the recording to leave a message I keep calling until I get through to the message telling me I'm number ___ in line. I did that for my co-worker last week who is going through NACA too. She left a message and sent an e-mail and hadn't gotten a response.

[CW California]

Originally Posted by rjatl

CW California,
thank you. I will contact him also. I did get a call back from a Cynthia Perez from Bank of America, but as I suspected, she told me that she couldn't assist since I was working with NACA, though she would look into postponing the sale date once again. I also called the NACA number to speak with a representative since the first appointment I could get was 9/4 which is after the sale date, however I was only given the option to leave a message. I hope that I do receive a call back....however I will keep trying.
thank you very much.

When you call David just keep trying him, don't leave a message. He's great! He will help you out!

[zbasspro]

rjatl
Try Sergio Alarcon 800-669-2443 EXT 3390 he was successful geting my sale date postponed when NO ONE else could in July when David was out of the office. Really nice guy, and he stayed on it, as it went down to the wire!

[rjatl]

Thanks everyone. Shockingly enough...Ms. Lopez from BOA actually called me back as she said she wanted to stop my sale date as she has said she would in a prior call...however BOA doesn't show one in the system at all. I did inform her I got a letter from the attorney...but she said BOA isn't showing it, so that I should give the attorney her info so they can confirm. I was impressed with her customer service...too bad she couldn't help me since I was NACA. I will try David and Sergio both also...as my file does seem to be stalled since it was submitted on 5/21. I suppose patience is the key....
thank you all again for the advice!

[rjatl]

Quick update. Thank you all for your advice. I had tried calling David Leighton (no success), but a few minutes later a different David (Eberle) phoned me. He said he worked with David L. At any rate, he stated that they postponed the sale date again and he also spoke with my negotiator. He said she had a few questions..he scrubbed my proposal and asked that it be sent asap to my investor (Fannie Mae) for approval. At least I know someone is looking at it now so I'm hoping for some action on it soon.

[Tartbird]

rjatl, that is awesome!!!

[thiswillwork]

is hamp mod. temporary or lating

[windyCA]

Update!

Just got my loan mod offer letter from BoA today (9/8/09) after came home from work. The letter is dated 9/2/09, and we need to sign and return the acceptance letter within seven days from the date of the letter, so tomorrow (9/9/09) is the last day that we need to return it(what if the letter comes in tomorrow or later?).

It is impossible for them to receive the letter by tomorrow, I can only mail it out by overnight tomorrow morning! The letter also said if they do not receive the acceptance letter, the offer will expire automatically without further notice. It is rediculous, the letter was mailed out from NY on 9/4/09 via first class mail and it was labor day weekend!

Any suggestion or thought?

The letter we received is only an acceptance letter that we need to sign, and was told that once we return the acceptance letter, they will mail another package vis Fedex overnight, which will need to be notarized.

It sounds a little different than the process I have heard from this website. Can anyone let me know if they went through the same process?

We are still current, except that we haven't made September payment yet as instructed. On the letter, there is a paragraph said: "your mortgage is currently in default. Collection activities, which may include foreclosure, may continue. If you sign the attached acceptance and perform as required in this commitment, we will cease any collection activity when the mortgage is modified."

Is this standard language? Will there be any negative impact on my credit report in the future based on this?

Finally got the offer, but it seems that they still try to give you a hard time. Can't relax a little bit until signing the actual loan modification document and getting the acount updated in their system.

[franklyspeaking]

Call them and have them note when you got it, keep proof of when you got it, fax a copy to them and get the darn thing fedex'd out! Keep a paper trail and when you call them get names,times etc , you have to . Get it there and then followup like crazy! You can fax it right then fedex it? Keep proof of it all.

[CW California]

Originally Posted by windyCA

Update!

Just got my loan mod offer letter from BoA today (9/8/09) after came home from work. The letter is dated 9/2/09, and we need to sign and return the acceptance letter within seven days from the date of the letter, so tomorrow (9/9/09) is the last day that we need to return it(what if the letter comes in tomorrow or later?).

It is impossible for them to receive the letter by tomorrow, I can only mail it out by overnight tomorrow morning! The letter also said if they do not receive the acceptance letter, the offer will expire automatically without further notice. It is rediculous, the letter was mailed out from NY on 9/4/09 via first class mail and it was labor day weekend!

Any suggestion or thought?



The letter we received is only an acceptance letter that we need to sign, and was told that once we return the acceptance letter, they will mail another package vis Fedex overnight, which will need to be notarized.

It sounds a little different than the process I have heard from this website. Can anyone let me know if they went through the same process?

We are still current, except that we haven't made September payment yet as instructed. On the letter, there is a paragraph said: "your mortgage is currently in default. Collection activities, which may include foreclosure, may continue. If you sign the attached acceptance and perform as required in this commitment, we will cease any collection activity when the mortgage is modified."

Is this standard language? Will there be any negative impact on my credit report in the future based on this?

Finally got the offer, but it seems that they still try to give you a hard time. Can't relax a little bit until signing the actual loan modification document and getting the acount updated in their system.

My first thought is "Is this in response to the NACA offer or some bogus offer?" When NACA gets an offer they email you usually. Is this a good offer or do you need a better offer?

[windyCA]

CW California,

I work with NACA. The offer is kind of mixed with my own effort and NACA's.

NACA submitted my proposal on 5/2/09, at 23% of my gross income and it can't be done without principal reduction or forebearance.

There was never any update from NACA as I called weekly, so I contacted OOP in early July, not much progress after that, contacted them again in mid-August, and got the negotiator's phone number.

So I called the negotiator directly to get the ball rolling, and he pulled out my file from NACA right away,and we discussed the options right there. Was offer either 2% fixed (about 31% of gross)for 5 years then goes up to original rate (6.375%) evently, or 3.375 fixed for life after discussion.

One week later, NACA negotiator Carrie reply my email that I sented many weeks ago, (I guess they just came back from Save the dream tour), so I asked if she could get me a better rate fixed for life. Shortly after that, BoA negotiator called me and updated that I was approved for 31% of gross for life! I was pleased!

2 weeks passed, no document nor offer in NACA system. So I called again last week, finally made the negotiator mail out the letter, which is the one that I got today.

So as of today, it is still not a done deal, and don't know if I can still get it if they don't get the letter tomorrow.

BTW, my offer is 2.25% fixed for 30 years (27 yr left, was extended back to 30 yr). I am satisfied with current offer, and I think this is the best I can get, which will save me over $1000 a month!

As of today, I don't think NACA has this offer in their system yet. I am hoping this loan mod can go through. I will call BoA tomorrow and hoping that they are not playing games with me.

Any advice?

[CW California]

Originally Posted by windyCA

CW California,

I work with NACA. The offer is kind of mixed with my own effort and NACA's.

NACA submitted my proposal on 5/2/09, at 23% of my gross income and it can't be done without principal reduction or forebearance.

There was never any update from NACA as I called weekly, so I contacted OOP in early July, not much progress after that, contacted them again in mid-August, and got the negotiator's phone number.

So I called the negotiator directly to get the ball rolling, and he pulled out my file from NACA right away,and we discussed the options right there. Was offer either 2% fixed (about 31% of gross)for 5 years then goes up to original rate (6.375%) evently, or 3.375 fixed for life after discussion.

One week later, NACA negotiator Carrie reply my email that I sented many weeks ago, (I guess they just came back from Save the dream tour), so I asked if she could get me a better rate fixed for life. Shortly after that, BoA negotiator called me and updated that I was approved for 31% of gross for life! I was pleased!

2 weeks passed, no document nor offer in NACA system. So I called again last week, finally made the negotiator mail out the letter, which is the one that I got today.

So as of today, it is still not a done deal, and don't know if I can still get it if they don't get the letter tomorrow.

BTW, my offer is 2.25% fixed for 30 years (27 yr left, was extended back to 30 yr). I am satisfied with current offer, and I think this is the best I can get, which will save me over $1000 a month!

As of today, I don't think NACA has this offer in their system yet. I am hoping this loan mod can go through. I will call BoA tomorrow and hoping that they are not playing games with me.

Any advice?

I think that is a great offer. Do they need the acceptance letter because you are with NACA? If so, can you fax them the acceptance? If they need NACA to accept can Kevin Winn do it? I sure hope you get it! In my opinion, fixed for life is the way to go. The trial MHA is turning out to be a joke. I got 2% fixed and it saves me almost a 1000 a month too. Yea Windy!

[priscilla]

Windy,
Congrats so far. I am very happy for you.Sounds like the best deal I have heard in a while. Can you please share with me how you got your negotiatior's name and contact number. I have tried so hard and still no luck with that. I have been waiting for so long and I dont know what to do about this anymore.