NACA/CW/BofA June Restructure Submissions - Page 6 - Loan Modification Forum

Tamara · 07-10-2009, 07:29 PM

CW California,

Great news!!

What a huge burden off of you and your family!!

I hope that CW comes back with such an offer for all of those who are struggling on the forum.

Tamara · 07-10-2009, 07:40 PM

Hi All,

I originally posted here, but have determined that my mod was not submitted on the day the rep said which was the 22nd....

I was actually submitted on the 7th of July. I only found out because I got a request for additional docs; the same ones everyone is having to send in now... IRS and the MHA affidavit.

I also wonder, has anyone ever faxed anything in and it not show up on the website. I faxed some things in last night (another letter from the State informing my husband of the "new" pay cut/furlough approved on the 3rd) and they are not showing up under docs recvd'.....
NACA did not request this letter, but it is pertinent to our income so I sent it anyways with the fax cover of course.

We also found out today that Gov. S is pushing yet another furlough day which will no doubt go through and yet another letter will come next week that I will need to fax.
Never a dull moment

))

Rumor · 07-10-2009, 08:26 PM

Tamara,

Naca told me that it takes 24 hrs sometimes to show up due to high volume. I don't know if that's true but just in case, I always scan as PDF file and it shows up automatically. The 1st time I faxed, it didn't show up and they couldn't find it so scanning it and uploading it on their website is always your best bet.

jz-sm-ca · 07-10-2009, 08:35 PM

I don't know whether I got lucky or ... I submitted all of my documents as pdfs (scanned) through the website (started last Sunday and added more throughout the week up until last night) and after review with them today status is already showing as "Submit to Servicer - Restructure" ...
so if you can, scan and submit electronically (there are free pdf converters out there for all windows users, my favorite is called "cute pdf", google for it ...)

CW California · 07-10-2009, 10:02 PM

That's great jz!

CW California · 07-10-2009, 10:04 PM

Thanks Tamara
Now if I can only get the "official" email to accept it!

vikingmom · 07-12-2009, 04:43 PM

Quote:

Originally Posted by vikingmom

Hello, I'm a newbie. Submitted paperwork to VP Deseor's office and to BOA Hope on my own 6/10. Started NACA also on 6/10, completed last of 3 telephone interviews and submission via NACA this morning 6/12. Told my NACA proposal would be submitted this afternoon. Hoping three different proposals won't confuse things. Looking to reduce our ridiculous 10.35% interest rate.
Good luck everyone!

It seems my NACA info was not submitted to CW/BOA on 6/12, but to a NACA negotiator. My status said "pending" up until July 5, 2009. Now it says "submitted to servicer - restructure". I am hoping that means CW/BOA has the NACA proposal now. In the meantime, I have heard nothing from my Office of the President negotiator, Jessica Hall, despite leaving many messages and sending e-mails, since 6/20/09.
I can not log in to my CW/BOA account, it is locked (due to acceleration I suppose).
In general, once NACA has submitted and the "restructure" status is up, how long should I wait before calling to see how it is going? Also, how can I find out what terms NACA submitted?
Hoping for success!

Tamara · 07-12-2009, 05:23 PM

Vikingmom,

I still have no new info on my restructure. I have only been in restructure status since the 7th of July though. The person I spoke to yesterday said that I should wait another 2 weeks.
About the terms, did the first counselor you spoke to tell you anything about the terms they were proposing? I was told the terms up front, and although I told the woman the payment was still too much, she said that was the best they could submit.... We will see what happens.
If you were never informed of terms, you should definitely call the toll free number and ask. I am sure they can see the terms.....

CW California · 07-12-2009, 05:57 PM

Viking
I would call the advocacy department and confirm that NACA has submitted to them. The OOP may stop calling since you are NACA now. I know the counseler in the OOP stopped calling me but then she wasn't doing zip to help so good ridance IMO. I had the verbal proposal in just under a month once it was submit to serficer.

vikingmom · 07-13-2009, 08:51 AM

I am on hold with NACA now.
I called Advocacy this morning, the woman said she could see a submission for review by Jennifer Hall from the OOP, but could not tell me any details. I called Jennifer Hall and left yet another message, but she rarely returns my calls. Only once, when I was traveling out of the country, did she call.
I also learned Fannie Mae is my investor.
The woman in the Advocacy dept. did not think my NACA proposal had been posted to my account yet. She said it was no problem to have two proposals going at once, and then see which results in a better offer. We'll see.

vikingmom · 07-13-2009, 08:59 AM

Oh - she also said collections/foreclosure efforts are suspended, (we are now 6 months behind), but could not take any payment (I have 3 payments in savings right now).

vikingmom · 07-14-2009, 07:41 PM

A new crazy chapter. We began this odyssey by submitting 3 different mod requests between 6/10 - 6/12/09
1) Through the CW/BOA Hope program
2) Through the office of the President (Ms. Desoer), assigned a negotiator
3) Through NACA

NACA submitted their proposal on 7/10/09, I am not sure why it was delayed, all docs were in by the 12th. My status is Submit to investor - restructure. I called NACA yesterday (Monday) and the rep told me he could not see what was requested, it was not yet in the system, to call back next week. He explained things are backed up.

I called BOA Advocacy also on Monday (7/13), they have a mod request in review, but it appeared to be from the OOP negotiator, Jennifer Hall. They also could not tell me the terms yet, as it was being reviewed by Fannie Mae (our investor). There was no mention of the NACA submission in the system, nor the Hope file.

Today, I had a FEDEX envelope when I got home from the Hope program. There is no mention of NACA nor OOP/ Jennifer Hall, so I am assuming this has no relation to these two submissions. Now, here is the kicker - the "approved modification" is for the same horrific interest rate (10.375%) now spread out over 480 months (not 360, 20 of which have already been paid). Plus, $26,000 in P&I and late fees/penalties have been added onto the back end, even though I have been begging BOA to let me pay since March and they will not take my money! In the end, this "help" will cost me $200 a month more than what I could not pay before, for 10 more years!

I can only hope this is some kind of mistake.

I immediately called OOP/Jennifer Hall, who has only once returned my calls (of maybe 12 calls) and left a message asking if this was her proposal. I will call NACA in the morning. I obviously can not accept this.

I am thinking of writing another letter/email to Pres. Desoer and copying my U.S. Rep, Barney Frank, who has been a very vocal critic of the failure of banks to use the bailout money to help homeowners. I want to know how BOA thinks giving me the same usarious interest rate, over a longer term, with penalties because they would not accept my payments, translates into help. Any opinions? Should I wait and see if Ms. Hall or NACA come up with a better deal? This just does not make sense.

mgallant · 07-15-2009, 04:38 AM

Quote:

Originally Posted by vikingmom

I am thinking of writing another letter/email to Pres. Desoer and copying my U.S. Rep, Barney Frank, who has been a very vocal critic of the failure of banks to use the bailout money to help homeowners. I want to know how BOA thinks giving me the same usarious interest rate, over a longer term, with penalties because they would not accept my payments, translates into help. Any opinions? Should I wait and see if Ms. Hall or NACA come up with a better deal? This just does not make sense.

That name brings shivers to my spine! Your "Barney Frank" is one of the creators of this whole mess we are in with these banks along with Senator Reed (RI) and Senator Dodd (Ct) all were suppose to be the banking watchdogs while they all were in bed with these banks taking contributions and special loans for there own properties! Sorry for the rant but everytime I see any of these so called "Senators looking out for our best interest it makes me crazy!

On another note, I would definately call NACA and let them know about the Docs you got, I am sure they are not the NACA proposal.

Godd Luck!

rkel11 · 07-15-2009, 07:06 AM

hereinNY......You hear anything yet? Did you get any info from anybody???? I have not heard a word from anybody. Can't get any info.........

CW California · 07-15-2009, 09:56 AM

rkel
Try sending an email to service@naca.com That is what I did and I had the email the next morning. I was really really nice, stated the facts as to getting the verbal, asked them to email the particulars and also thanked them for all they were doing. But who knows maybe they are just playing catch up and I finally got it. Worth a try!

rkel11 · 07-15-2009, 10:38 AM

Well I just got the email from Carrie.....
4.875% for 1st year - $1016 include taxes and ins and pmi
5.875% for 2nd year - $1116 include taxes, ins and pmi
6.875% for the remainder - $1220 include taxes, ins and pmi
Not great, but I can live with it for right now, don't know about 2 years from now. I was hoping for something better. This does not include my 2nd. Carrie said she is asking them to modify the 2nd.
Any suggestions????? I have to let her know in 5 business days.

Rumor · 07-15-2009, 12:17 PM

Rkel,

Do you mind telling me what type of loans you have thru BofA. I also rec'd a package from BofA with 4.75 for the first 5 years and 5.75 after that. Mentions nothing about my 2nd though. This is from what I understand, not from Naca. I'm hoping and praying that our 2nd also gets modified. Our 2nd loan is at 11.75% and it would help tremendously if it gets modified.

rkel11 · 07-15-2009, 12:34 PM

I now have a 30 yr conv. fixed at 6.875 with payment of 1430 and a 2nd ARM at 10% with a payment of 178. The 1st include taxes and ins and pmi.

CW California · 07-15-2009, 03:10 PM

Quote:

Originally Posted by rkel11

I now have a 30 yr conv. fixed at 6.875 with payment of 1430 and a 2nd ARM at 10% with a payment of 178. The 1st include taxes and ins and pmi.

Who is your investor?

rkel11 · 07-15-2009, 03:27 PM

Fannie Mae

sarge · 07-15-2009, 07:57 PM

Quote:

Originally Posted by rkel11

Well I just got the email from Carrie.....
4.875% for 1st year - $1016 include taxes and ins and pmi
5.875% for 2nd year - $1116 include taxes, ins and pmi
6.875% for the remainder - $1220 include taxes, ins and pmi
Not great, but I can live with it for right now, don't know about 2 years from now. I was hoping for something better. This does not include my 2nd. Carrie said she is asking them to modify the 2nd.
Any suggestions????? I have to let her know in 5 business days.

Congrats on the email rkel11! As I understand it, you can always go for another mod in 12 months. I hope you get a solution that works for you.

CW California · 07-15-2009, 08:04 PM

rkel
The mod offer you received seems to be a lot like the other freddie and fannie's lately. What did Carrie say she was going to request on the 2nd?

rkel11 · 07-16-2009, 07:33 AM

Talked to NACA yesterday and the guy just started spouting out figures about the 2nd. He then asked if that was the offer I rec? I said no, this was on my 1st. He said oh! I'm not supposed to talk to you about that. He finally saw where Carrie had sent me the email. He said he would have to get somebody to call me back to go over it with me. Just wanted to know if this is what NACA proposed to BofA. I have yet to rec. a call from anybody thats supposed to call me back. So I don't expect this call either.
He spouted out 2% for the life of the loan with everything included with a payment of $448.00 per month. I told hom that this would put me back where I was before. I couldn't afford it then why can I now! Thats when he said he would get somebody to call me. I am guessing that this is what they are requesting from BofA. I,m thinking about calling advocacy today. My online status changed tody to approved, Just wondering if this is NACA or one from BofA........

2much2pay · 07-16-2009, 09:00 AM

Hey June submitters....

I just checked my online account and it said my Mod has been approved. Could this be the same Mod NACA proposed? I called to advocacy department and they said I should receive my docs in a few days but do not know the terms. I remember another member saying we can contact the H4H line and they can tell you the terms. Anyone know their number? I also called the rep from the presidents office to ask her about it. Waiting on her to return my phone call. Also gonna contact NACA to see if they know anything about this.

CW California · 07-16-2009, 09:44 AM

rkel
Is the 2% life of loan what they are submitting on your 2nd? Would that help you?

07-10-2009, 07:29 PM	#126 (permalink)
Tamara Senior Member Join Date: May 2008 Posts: 35 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: NACA/CW/BofA June Restructure Submissions CW California, Great news!! What a huge burden off of you and your family!! I hope that CW comes back with such an offer for all of those who are struggling on the forum.

07-10-2009, 07:40 PM	#127 (permalink)
Tamara Senior Member Join Date: May 2008 Posts: 35 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: NACA/CW/BofA June Restructure Submissions Hi All, I originally posted here, but have determined that my mod was not submitted on the day the rep said which was the 22nd.... I was actually submitted on the 7th of July. I only found out because I got a request for additional docs; the same ones everyone is having to send in now... IRS and the MHA affidavit. I also wonder, has anyone ever faxed anything in and it not show up on the website. I faxed some things in last night (another letter from the State informing my husband of the "new" pay cut/furlough approved on the 3rd) and they are not showing up under docs recvd'..... NACA did not request this letter, but it is pertinent to our income so I sent it anyways with the fax cover of course. We also found out today that Gov. S is pushing yet another furlough day which will no doubt go through and yet another letter will come next week that I will need to fax. Never a dull moment ))

07-10-2009, 08:26 PM	#128 (permalink)
Rumor Senior Member Join Date: Feb 2009 Posts: 442 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: NACA/CW/BofA June Restructure Submissions Tamara, Naca told me that it takes 24 hrs sometimes to show up due to high volume. I don't know if that's true but just in case, I always scan as PDF file and it shows up automatically. The 1st time I faxed, it didn't show up and they couldn't find it so scanning it and uploading it on their website is always your best bet.

07-10-2009, 08:35 PM	#129 (permalink)
jz-sm-ca Member Join Date: Jul 2009 Location: San Marcos, CA Posts: 11 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: NACA/CW/BofA June Restructure Submissions I don't know whether I got lucky or ... I submitted all of my documents as pdfs (scanned) through the website (started last Sunday and added more throughout the week up until last night) and after review with them today status is already showing as "Submit to Servicer - Restructure" ... so if you can, scan and submit electronically (there are free pdf converters out there for all windows users, my favorite is called "cute pdf", google for it ...)

07-10-2009, 10:02 PM	#130 (permalink)
CW California Senior Member Join Date: Feb 2009 Location: SoCal Posts: 1,127 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: NACA/CW/BofA June Restructure Submissions That's great jz!

07-10-2009, 10:04 PM	#131 (permalink)
CW California Senior Member Join Date: Feb 2009 Location: SoCal Posts: 1,127 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: NACA/CW/BofA June Restructure Submissions Thanks Tamara Now if I can only get the "official" email to accept it!

07-12-2009, 05:23 PM	#133 (permalink)
Tamara Senior Member Join Date: May 2008 Posts: 35 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: NACA/CW/BofA June Restructure Submissions Vikingmom, I still have no new info on my restructure. I have only been in restructure status since the 7th of July though. The person I spoke to yesterday said that I should wait another 2 weeks. About the terms, did the first counselor you spoke to tell you anything about the terms they were proposing? I was told the terms up front, and although I told the woman the payment was still too much, she said that was the best they could submit.... We will see what happens. If you were never informed of terms, you should definitely call the toll free number and ask. I am sure they can see the terms.....

07-12-2009, 05:57 PM	#134 (permalink)
CW California Senior Member Join Date: Feb 2009 Location: SoCal Posts: 1,127 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: NACA/CW/BofA June Restructure Submissions Viking I would call the advocacy department and confirm that NACA has submitted to them. The OOP may stop calling since you are NACA now. I know the counseler in the OOP stopped calling me but then she wasn't doing zip to help so good ridance IMO. I had the verbal proposal in just under a month once it was submit to serficer.

07-13-2009, 08:51 AM	#135 (permalink)
vikingmom Senior Member Join Date: Jan 2009 Posts: 56 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: NACA/CW/BofA June Restructure Submissions I am on hold with NACA now. I called Advocacy this morning, the woman said she could see a submission for review by Jennifer Hall from the OOP, but could not tell me any details. I called Jennifer Hall and left yet another message, but she rarely returns my calls. Only once, when I was traveling out of the country, did she call. I also learned Fannie Mae is my investor. The woman in the Advocacy dept. did not think my NACA proposal had been posted to my account yet. She said it was no problem to have two proposals going at once, and then see which results in a better offer. We'll see.

07-13-2009, 08:59 AM	#136 (permalink)
vikingmom Senior Member Join Date: Jan 2009 Posts: 56 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: NACA/CW/BofA June Restructure Submissions Oh - she also said collections/foreclosure efforts are suspended, (we are now 6 months behind), but could not take any payment (I have 3 payments in savings right now).

07-14-2009, 07:41 PM	#137 (permalink)
vikingmom Senior Member Join Date: Jan 2009 Posts: 56 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: NACA/CW/BofA June Restructure Submissions A new crazy chapter. We began this odyssey by submitting 3 different mod requests between 6/10 - 6/12/09 1) Through the CW/BOA Hope program 2) Through the office of the President (Ms. Desoer), assigned a negotiator 3) Through NACA NACA submitted their proposal on 7/10/09, I am not sure why it was delayed, all docs were in by the 12th. My status is Submit to investor - restructure. I called NACA yesterday (Monday) and the rep told me he could not see what was requested, it was not yet in the system, to call back next week. He explained things are backed up. I called BOA Advocacy also on Monday (7/13), they have a mod request in review, but it appeared to be from the OOP negotiator, Jennifer Hall. They also could not tell me the terms yet, as it was being reviewed by Fannie Mae (our investor). There was no mention of the NACA submission in the system, nor the Hope file. Today, I had a FEDEX envelope when I got home from the Hope program. There is no mention of NACA nor OOP/ Jennifer Hall, so I am assuming this has no relation to these two submissions. Now, here is the kicker - the "approved modification" is for the same horrific interest rate (10.375%) now spread out over 480 months (not 360, 20 of which have already been paid). Plus, $26,000 in P&I and late fees/penalties have been added onto the back end, even though I have been begging BOA to let me pay since March and they will not take my money! In the end, this "help" will cost me $200 a month more than what I could not pay before, for 10 more years! I can only hope this is some kind of mistake. I immediately called OOP/Jennifer Hall, who has only once returned my calls (of maybe 12 calls) and left a message asking if this was her proposal. I will call NACA in the morning. I obviously can not accept this. I am thinking of writing another letter/email to Pres. Desoer and copying my U.S. Rep, Barney Frank, who has been a very vocal critic of the failure of banks to use the bailout money to help homeowners. I want to know how BOA thinks giving me the same usarious interest rate, over a longer term, with penalties because they would not accept my payments, translates into help. Any opinions? Should I wait and see if Ms. Hall or NACA come up with a better deal? This just does not make sense.

07-15-2009, 07:06 AM	#139 (permalink)
rkel11 Senior Member Join Date: May 2009 Location: Central NC Posts: 141 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: NACA/CW/BofA June Restructure Submissions hereinNY......You hear anything yet? Did you get any info from anybody???? I have not heard a word from anybody. Can't get any info.........

07-15-2009, 09:56 AM	#140 (permalink)
CW California Senior Member Join Date: Feb 2009 Location: SoCal Posts: 1,127 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: NACA/CW/BofA June Restructure Submissions rkel Try sending an email to service@naca.com That is what I did and I had the email the next morning. I was really really nice, stated the facts as to getting the verbal, asked them to email the particulars and also thanked them for all they were doing. But who knows maybe they are just playing catch up and I finally got it. Worth a try!

07-15-2009, 10:38 AM	#141 (permalink)
rkel11 Senior Member Join Date: May 2009 Location: Central NC Posts: 141 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: NACA/CW/BofA June Restructure Submissions Well I just got the email from Carrie..... 4.875% for 1st year - $1016 include taxes and ins and pmi 5.875% for 2nd year - $1116 include taxes, ins and pmi 6.875% for the remainder - $1220 include taxes, ins and pmi Not great, but I can live with it for right now, don't know about 2 years from now. I was hoping for something better. This does not include my 2nd. Carrie said she is asking them to modify the 2nd. Any suggestions????? I have to let her know in 5 business days.

07-15-2009, 12:17 PM	#142 (permalink)
Rumor Senior Member Join Date: Feb 2009 Posts: 442 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: NACA/CW/BofA June Restructure Submissions Rkel, Do you mind telling me what type of loans you have thru BofA. I also rec'd a package from BofA with 4.75 for the first 5 years and 5.75 after that. Mentions nothing about my 2nd though. This is from what I understand, not from Naca. I'm hoping and praying that our 2nd also gets modified. Our 2nd loan is at 11.75% and it would help tremendously if it gets modified.

07-15-2009, 12:34 PM	#143 (permalink)
rkel11 Senior Member Join Date: May 2009 Location: Central NC Posts: 141 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: NACA/CW/BofA June Restructure Submissions I now have a 30 yr conv. fixed at 6.875 with payment of 1430 and a 2nd ARM at 10% with a payment of 178. The 1st include taxes and ins and pmi.

07-15-2009, 03:27 PM	#145 (permalink)
rkel11 Senior Member Join Date: May 2009 Location: Central NC Posts: 141 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: NACA/CW/BofA June Restructure Submissions Fannie Mae

07-15-2009, 08:04 PM	#147 (permalink)
CW California Senior Member Join Date: Feb 2009 Location: SoCal Posts: 1,127 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: NACA/CW/BofA June Restructure Submissions rkel The mod offer you received seems to be a lot like the other freddie and fannie's lately. What did Carrie say she was going to request on the 2nd?

07-16-2009, 07:33 AM	#148 (permalink)
rkel11 Senior Member Join Date: May 2009 Location: Central NC Posts: 141 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: NACA/CW/BofA June Restructure Submissions Talked to NACA yesterday and the guy just started spouting out figures about the 2nd. He then asked if that was the offer I rec? I said no, this was on my 1st. He said oh! I'm not supposed to talk to you about that. He finally saw where Carrie had sent me the email. He said he would have to get somebody to call me back to go over it with me. Just wanted to know if this is what NACA proposed to BofA. I have yet to rec. a call from anybody thats supposed to call me back. So I don't expect this call either. He spouted out 2% for the life of the loan with everything included with a payment of $448.00 per month. I told hom that this would put me back where I was before. I couldn't afford it then why can I now! Thats when he said he would get somebody to call me. I am guessing that this is what they are requesting from BofA. I,m thinking about calling advocacy today. My online status changed tody to approved, Just wondering if this is NACA or one from BofA........

07-16-2009, 09:00 AM	#149 (permalink)
2much2pay Senior Member Join Date: May 2009 Posts: 136 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: NACA/CW/BofA June Restructure Submissions Hey June submitters.... I just checked my online account and it said my Mod has been approved. Could this be the same Mod NACA proposed? I called to advocacy department and they said I should receive my docs in a few days but do not know the terms. I remember another member saying we can contact the H4H line and they can tell you the terms. Anyone know their number? I also called the rep from the presidents office to ask her about it. Waiting on her to return my phone call. Also gonna contact NACA to see if they know anything about this.

07-16-2009, 09:44 AM	#150 (permalink)
CW California Senior Member Join Date: Feb 2009 Location: SoCal Posts: 1,127 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: NACA/CW/BofA June Restructure Submissions rkel Is the 2% life of loan what they are submitting on your 2nd? Would that help you?

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