Anyone rejected offer from NACA/BoA?

laurap · 07-13-2009, 08:21 AM

As I posted in June submissions thread, I was offered by BoA $400 more than what NACA proposed. So I told the NACA negotiator that I cannot accept the offer. After that, I haven't heard anything from them.

Do you think there is hope still fighting for what I can afford for? Definitely I cannot afford their offer. what do you think?

Evan Bedard · 07-13-2009, 10:31 AM

Hi laurap,

Quote:

Do you think there is hope still fighting for what I can afford for? Definitely I cannot afford their offer. what do you think?

From my personal experience dealing with CW/BofA I have seen homeowners turn down mods that they were offered, and later recieve a very affordable modification. So it is definetely possible

Keep up the fight!

Tamara · 07-13-2009, 10:42 AM

Laura,

From what I have read on the forum, you may need to resubmit if you have not heard anything back. I do not think NACA will automatically renegotiate for you, but I may be wrong??????

Evan Bedard · 07-13-2009, 10:47 AM

Hi Tamara you may be right I'm not exactly sure. Try calling NACA to see if you need to resubmit updated financials..

jeepnmatt · 07-22-2009, 01:06 AM

I too just turned down a loan mod proposal by CW. They took the 4,000.00 I'm behind, tacked it on the principal and gave me the same interest rate, plus tacked on 17 years to my loan. NO WAY. I am glad and grateful they are willing to do something, but do I need to be kicked when I'm down? So for now I guess I'm starting all over. They said it will take 2 weeks to go down as declined, then I have to re-apply and wait up to 12 weeks. What a joke.