NACA or Private Attorney? ???? - Loan Modification Forum

melissasue44 · 12-17-2008, 05:34 PM

Should I follow Through with NACA or A Private Attorney, to get a better Loan Modification

My interest rate Saxon offered me is excellent but, after 5 years all the bad stuff in the loan are still there!

Moe Bedard · 12-17-2008, 06:38 PM

NACA modification proposals are for low fixed rate loan modifications..........and they are FREE to work with..............that seems like a no brainer.

mamadew · 03-12-2009, 10:54 PM

I am working with NACA. I started in 9/08 but there were some problems with the Rep. not turning in my paperwork. They have told me to wait to hear from them by the end of March and so I am waiting. Meanwhile, I have submitted my papers back to Aurora Loan Services as requested by them. Trouble is I haven't heard any more from them either.

mamadew · 03-12-2009, 10:56 PM

By the way NACA has submitted my papers to Aurora. I am hoping for good news. This has been a process.

brokemama · 03-13-2009, 06:34 AM

Mamadew, I empathize with you as I'm in a similar boat. Working with NACA is great, but you need to stay on top; call/email/online at least once or twice a week. And have you contacted the investor directly? I took a multi-pronged approach and got an offer which I am negotiating now. Save the money on the lawyer as the absolute last resort is my suggestion. Good luck! As a single mom, I know the fear and the worry and the sleepless nights.

Alexis · 03-13-2009, 01:08 PM

Brokemama - do you know if it matters what type of loan we have in seeking help from NACA? We're looking into all options out there. Thanks much, Alexis

brokemama · 03-13-2009, 02:09 PM

Alexis, I believe NACA will help any homeowner with any loan as long as it's not an investment property. Best of luck!

Alexis · 03-13-2009, 04:07 PM

Thanks, Brokemama - will look into NACA. We're w/ASC (yuk) & they referred us to Hope for Homeowners. We were so excited when we were told we were eligible then we asked questions & found out they not only expect homeowners to share 50% equity when selling, the 30-yr mortgage rate is 8.5%!! They told us that could adjust once everything is done. Our payments would be almost the same as now even w/adjusting the principle. Will see, they are going to arrange to have property appraised & will go from there.

12-17-2008, 05:34 PM	#1 (permalink)
melissasue44 Senior Member Join Date: Nov 2008 Location: Kentucky Posts: 39 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	NACA or Private Attorney? ???? Should I follow Through with NACA or A Private Attorney, to get a better Loan Modification My interest rate Saxon offered me is excellent but, after 5 years all the bad stuff in the loan are still there!

12-17-2008, 06:38 PM	#2 (permalink)
Moe Bedard Founder Join Date: Aug 2007 Location: Southern California Posts: 16,887 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: NACA or Private Attorney? ???? NACA modification proposals are for low fixed rate loan modifications..........and they are FREE to work with..............that seems like a no brainer. __________________ Moe Bedard Founder LoanSafe.org "America's #1 Home Loan Forum" LoanWorkout.org "America's # Loan Modification Blog" Get My FREE Loan Modification E-Book \| Please donate to LoanSafe.org \| Loan Modification Training For Attorneys \| Rate Your Mortgage Servicer The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Please Read our Privacy Policy and Legal Disclaimer Here.

03-12-2009, 10:54 PM	#3 (permalink)
mamadew Junior Member Join Date: Mar 2009 Posts: 3 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: NACA or Private Attorney? ???? I am working with NACA. I started in 9/08 but there were some problems with the Rep. not turning in my paperwork. They have told me to wait to hear from them by the end of March and so I am waiting. Meanwhile, I have submitted my papers back to Aurora Loan Services as requested by them. Trouble is I haven't heard any more from them either.

03-12-2009, 10:56 PM	#4 (permalink)
mamadew Junior Member Join Date: Mar 2009 Posts: 3 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: NACA or Private Attorney? ???? By the way NACA has submitted my papers to Aurora. I am hoping for good news. This has been a process.

03-13-2009, 06:34 AM	#5 (permalink)
brokemama Senior Member Join Date: Nov 2008 Posts: 203 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: NACA or Private Attorney? ???? Mamadew, I empathize with you as I'm in a similar boat. Working with NACA is great, but you need to stay on top; call/email/online at least once or twice a week. And have you contacted the investor directly? I took a multi-pronged approach and got an offer which I am negotiating now. Save the money on the lawyer as the absolute last resort is my suggestion. Good luck! As a single mom, I know the fear and the worry and the sleepless nights.

03-13-2009, 01:08 PM	#6 (permalink)
Alexis Senior Member Join Date: Aug 2008 Posts: 37 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: NACA or Private Attorney? ???? Brokemama - do you know if it matters what type of loan we have in seeking help from NACA? We're looking into all options out there. Thanks much, Alexis

03-13-2009, 02:09 PM	#7 (permalink)
brokemama Senior Member Join Date: Nov 2008 Posts: 203 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: NACA or Private Attorney? ???? Alexis, I believe NACA will help any homeowner with any loan as long as it's not an investment property. Best of luck!

03-13-2009, 04:07 PM	#8 (permalink)
Alexis Senior Member Join Date: Aug 2008 Posts: 37 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: NACA or Private Attorney? ???? Thanks, Brokemama - will look into NACA. We're w/ASC (yuk) & they referred us to Hope for Homeowners. We were so excited when we were told we were eligible then we asked questions & found out they not only expect homeowners to share 50% equity when selling, the 30-yr mortgage rate is 8.5%!! They told us that could adjust once everything is done. Our payments would be almost the same as now even w/adjusting the principle. Will see, they are going to arrange to have property appraised & will go from there.

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