NACA/CW/BofA June Restructure Submissions

[CW California]

Originally Posted by vikingmom

Just checked my BOA account, the old mod request is gone, it says I am under review for a new request (pre-approval). Hopefully that means my NACA request is now being forwarded as David promised. Wow - he is fast.

He really is terrific. He was also the one who told me BofA had sent an offer to NACA. I swear when he is facilitating the process it moves forward. May not always be the answer you want but at least you feel like you aren't being jerked around! Myself, I was jerked around for so long and I didn't call him right away but I can't believe how fast everything got approved once I just confirmed that BofA had the NACA data. Hopefully you will hear soon. Does it look like they will go for the NACA fixed solution?

[CW California]

hey rkel (#1) (Kind of like Ryker from Startrek)
How that spreadsheet coming?

[patnj]

What is this new NACA #? I have been emailing them and leaving messges for two months. Not one person has responded. DAvid Leighton is the only person who has helped me giving me infor that NACA should be giving me. I really wish I could dump NACA and just start fresh with Countrywide.

Thanks

[vikingmom]

I believe the new number is 1-888-404-6222 - I have to check my folder, which I left in my office. Someone posted it here, under June submissions I think.

[rkel11]

Got my docs for my 2nd today! Although it is still OK it was not what NACA told me it was. NACA said it was 2% and it showed up at 3% raising the payment just a little bit. Got to have them back by the 27th and 1st payment on 9-1.

[ama125]

Originally Posted by rkel11

Got my docs for my 2nd today! Although it is still OK it was not what NACA told me it was. NACA said it was 2% and it showed up at 3% raising the payment just a little bit. Got to have them back by the 27th and 1st payment on 9-1.

Congrats rkel! That's encouraging news! You give all of us with 2nd mortgages hope!

[vikingmom]

Great news! Just as David L. promised, when I logged into my CW/BOA account it showed all of my update docs received and my NACA request appears to be in "active Processing". What a great guy!

[rkel11]

Vikingmom..... that is great news......the wheels are turning

[vikingmom]

Received a "we are working" e-mail from NACA today, emphasizing Sept. 8 is the deadline they want for a number of mods to be completed. Also logged into my NACA page and it is requesting some new docs and some updated docs. Looks like this is finally happening. A lot of people on the forum got the Sept. 8 e-mail so look for a lot of traffic on this forum in the next two weeks!

[SillyWorld]

Originally Posted by vikingmom

Received a "we are working" e-mail from NACA today, emphasizing Sept. 8 is the deadline they want for a number of mods to be completed. Also logged into my NACA page and it is requesting some new docs and some updated docs. Looks like this is finally happening. A lot of people on the forum got the Sept. 8 e-mail so look for a lot of traffic on this forum in the next two weeks!

I never got the email but my account shows the same, so even if I am up to date on all docs wonder if they should be resent as they request..???

[priscilla]

I got the email as well. But I found something interesting about my budget. My naca budget was changed online when I checked. Did this happen to anyone? They had originally submitted a different amount in their proposal. But it is lower now and at %31 of my income. Strange things. Hope it is good news.

[Tartbird]

Well my NACA website account said that the Servicer had submitted a proposal. I tried calling NACA all day and it kept telling me a wait time, it would count it down and then when I was next it would start counting me UP!!!! WTH??? So I called David L. finally and he told me my investor is accepting the 3 month forbearance that NACA submitted! Then he said maybe at the end of that if we make our payments on time we might be modified. Oh my GOD that would be great. I have been praying for this.

I will do whatever it takes to make those payments!!

We were submitted June 11 by NACA. Anyone finished their 3 months payments and been given a mod?

[rkel11]

Congrats Tartbird!!!!!

[rameda18]

Tartbird, mine forbearance was submitted on june 19 but Bofa declined for mod. Now I am still waiting for the respond on the forbearance. Congrats to you for the approval.

[CW California]

Originally Posted by rkel11

Thought I would go ahead and start this thread....

I was submitted on 6-2
No updates yet........

Post anything you would like to share concerning your June submissions.......

Thanks and GOOD LUCK!!!!!!!

Sneeze Sneeze Cough Cough Blowing the dust off this thread for a report to see where all the June submisssions are now????

[CW California]

Originally Posted by DodgerFan

As recently as last week, I spoke with our negotiator (Janice) who said that our mod is still sitting there. Our mod was submitted Jan 4, 2009. The reason ours is still sitting idle (per NACA) is that Freddie Mac is the investor on the loan. FM really sucks. FM hasn't responded to NACA for many weeks, and is now saying they will likely pursue the "Obama Plan" which will only help lower payments for the short term. 5 Year max payment reduction, no principal reductions, stepped interest rate up to 5% after 5 years. After that - market rates. Likely 40 year term. What a joke! But, keep your head up if FM is not your investor!

What ever happened with this DodgerFan????

[CW California]

I'm not sure who all the June NACA submissions were but here is a partial list. What is everyone's status and/or what kind of terms did you get?

RKEL
PDA
MEREV
GIANTSFAN
LIZZY
VIKINGMOM
DODGERFAN
LAURAP
TAMARA
CW CALIFORNIA - 2% life of loan, all closed, receiving payment coupons

WHO ELSE?

[priscilla]

My file was submitted in June as well. So you may add me to the list. Submitted to BoA for the second time on June 19th. After an earlier denial. Naca website says submitted to servicer on June 19th. David L says he cannot open my file as I was not originally with CW. OOP says they cant help since I am with Naca. I have a relative who works with Naca, he is encouraging me to keep waiting so I am waiting very unhappily and running out of patient. BoA says they are reviewing me for the Hamp program blah blah blah. What else haven't they told me. Add me to the June list. I will keep everyone updated should I hear something.
Cheers

[Tartbird]

Hi CW Calif,

We were submitted June 11. There is an offer of a forebearance, which is what NACA submitted, from the servicer. But I can't get Janice or Carrie, the NACA negotiators to contact me so that I can let them know I want to accept the forebearance.

Very frustrating...

Tartbird

[j-nice]

Tartbird, I called Kevin Winn the supervisor and was able to get him on the first call. He went into the system and accepted the forbearance for me. I called David L back in Advocacy and he could see that it was in the NACA database and got the docs rolling for me. From the time David told me I was approved for the forbearance and got the docs it was about 2-3 weeks. I faxed the docs over to Kevin Winn, the service center at naca and also uploaded them to my naca docs online. My BofA online account is updated as of today and shows the docs received and approved for a special forbearance.

Hope this helps!

[Tartbird]

J-nice, thank you! Kevin Winn just called me and accepted the forebearance for me while I was on the phone. He also appologized for the negotiators not getting back to me, and when I checked my NACA online status three minutes later it showed we had accepted the proposal.

He was very nice, and informative just as you all have said. Well between David L and Kevin Winn, we all may just be able to accomplish something!

Tartbird

[Tartbird]

J-nice, did you fax the documents directly to Kevin Winn, is there a different fax number than the other naca fax number?

Tartbird

[j-nice]

tartbird-I scanned the docs and emailed them to Kevin Winn, kwinn@naca.com. And I also emailed them to the service@naca.com and I uploaded the docs as well to my personal page at naca.

Funny, my NACA page has not changed at all to show proposal accepted...I wonder if I should worry about that?

[patnj]

I am jst wonering what is so good about a forebearance? It is not a modification or an interest reduction. It is only buying time wiht a lower payment and then at the end of the trial everythibg not paid is due.

Did you ask for a forebearance instead of a modification? I am not happy at all that after waiting two months the best NACA could do for my mom was a forebearance.

I did my own mod with BOA and got a great deal...

Has anyone rejected their NACA offer and applied for a mod directly with BOA?

Not sure what to do with my mother's loan.

Thanks

[j-nice]

patnj-when I started working with NACA in February the best they could come up with was a forbearance because my income was so low. In May I sent updated pay stubs with higher income and they were able to resubmit a restructure proprosal-that was denied in June. NACA resubmitted another proposal July 1st and Fannie Mae is the one that offered the forbearance. David L is telling me that Fannie Mae is calling this a Performing forbearance to see if I can make the payments on time. I am scared to death that I will not get a permanent mod in January and will owe BofA over $10K (they just paid my taxes and set up an escrow account...yikes). David told me to update my financials with NACA after the third payment is made and to call him when this is done so he can escalate my file for a permanent mod.

I am doing all of this AND trying to hold off filing chapter 7 bk until the mod is complete. I stopped paying credit cards in January so this is becoming a real nail biter. At this point, it was the only option available for me.