Has Anyone had sale date postponed by NACA?

[vicjohn]

I was originally told in Oct08 we qualified for mod from CW, Home Saver which takes past due amount places balance in a 2nd loan, and to expect docs in mail within a couple of weeks and don't worry about making the payments until you get the mod. Sounded good at the time, when we were only 60 days delinquent. Kept calling for doc status and I'm sure you know that story if you have dealt with them. Never received docs. Called again in Jan09 they retook financials and then said we don't qualify for anything. We started with NACA on 2/9 and our docs were sent to CW on 2/27, which was a mod we could afford $2610 to $2000 PITI. The next day we received notice of foreclosure sale letter for April 7th .

NACA says they get involved a week before the sale date to stop it if they haven't reach a mod agreement. We are considering Ch13 if no response by end of month. I feel confident of NACA capabilities but with the sale date, very nervous. Has anyone had NACA postpone sale date? If so what was your timeline? Will CW postpone sale while working with NACA? Any suggestions or feedback to offer?

[vicjohn]

I might have found my answer from Obama's plan. After reviewing the financialstability.gov site it states in the part of the what to do next step:

"Please be patient Servicers received the detailed program requirements on March 4, 2009 and it may take some time before they are fully operational. However, Treasury has encouraged servicers to immediately assist delinquent borrowers at the greatest risk of foreclosure. IN THE MEANTIME, MANY LENDERS HAVE MADE A COMMITTMENT TO DELAY FORECLOSURE ON ALL LOANS THAT MEET THE MINIMUM ELIGIBILITY CRITERIA FOR A HOME AFFORDABLE MODIFICATION."

I'm crossing fingers this helps NACA submission to move along.

[paint4u]

Can you tell me where you found info on lenders who are making the comitment to suspend forecloures

[vicjohn]

I received the prior statement regarding 'lenders' when I went through the steps on the site to see if I might meet the minimum requirements and that paragraph showed on the last screen. I also noticed on page 9 in the Counselor Q&A pdf http://www.financialstability.gov/docs/counselor_qa.pdf from the site, it doesn't state specific lenders yet, but Fannie and Freddie are mentioned on page 1. Fannie is my underwriter. There is more detailed modification guidelines on the site as well.

Also, if you go to CharitableDonations CW mentions NeighborWorks as a source for Foreclosure assistance, so when you go to their site and read NeighborWorks press release netNews030409
it's relating to Obama's plan and if you search through their counseling centers, NACA is an option when I input my zip code. I was happy to see NACA listed.

I did go to search if there was anything listed about lenders postponing foreclosures. This was interesting for me because BOA aka CW agreed to halt foreclosures until after Obama's plan was introduced but I got my foreclosure notice Feb. 28th, now I understand why they told my husband we shouldn't have received that notice. Interesting!

[paint4u]

Ill probally check all that tommorow im really burned out with reading all the articles i have been reading thank you all so much may the lord show you all favor amen

[vicjohn]

I found one posting under another thread, sale date was postponed: http://www.loansafe.org/forum/countr...arch-17th.html

I'm so HAPPPYYYYY for this person and it gives me hope.

[mshanie]

vicjohn,
my situation is about as bad as it gets, cw isn't interested in any mods it seems like, albeit NACA has performed a short term miracle or hopefully a long term one, nonetheless NACA has been the ticket to at least buy us some time, hopefully a successful restructure. My personal opinion is to wok through NACA and keep reading everything on LOANSAFE, it has opened up many new ideas to me, as well as a glimmer of hope. If cw will not accept the NACA solution, my plan is to go back at cw with the March 4th plan, even though wells fargo is my investor, I found out I'm not freddie or fannie, but they are supposedly participating as well as BOA dba CW for now, I figured that this is the only option for us at this time, buying time, saving as much as I can, and keep relentlessly contacting everybody that I think will lend me an ear. Also, when you call NACA, wait on the line, if you can, the calls will get answered, and you will get a chance to actually speak with someone that cares about your situation, its the most difficult thing I have personally ever had to do. I have already filed 13 in 2005, lost my job,I had a tough choice to make and still had to eat, but the way I see it,people like us should at the very least be afforded a legitimate opportunity to try to work something out, since WE are the ones footing the bill on all of the bank bailout money, I will not let them get our home without a fight , NO WAY!!!

[wildcats21]

mshanie when you told naca you was in a chapter 13 what was there response. I also am in a chapter 13. cw will not talk to us more less work with us. Our mortgage is paid outside the plan just wondering what your experience with naca and the chapter 13 worked out. we are also with naca.

[mshanie]

wildcats21, instead of going through that, if you read my thread" everyone chill out we are 18 months behind" it is self explanatory what hurdles we have jumped and we lost our jobs during the repayment plan and hit and missed our payments, loan was taken out of 13, because of default.

[paint4u]

Im sorry i dont have a cw loan i have a wamu i just got on this thread because some of the information is useable

[vicjohn]

Update The Good and The Bad:
GOOD: I contacted CW again today at 800-262-4218 Loss Prevention, when I went through the prompts it confirmed that a workout negotiator is reviewing file and collection activity has been suspended and to check back on March 26th for an update. I stayed on the line to ask if suspension of collection activity included postponement of sale date...The CW rep said that if the mod is still being reviewed and if it looks as is it will be approved but hasn't, then by April 3rd they will contact their Attorney to cancel the Apr 7th sale date until the mod is completely reviewed, but to call back on that date to confirm. She said everything was looking good in my file. She said depending on the state where you live will determine how many days in advance they will request postponement of sale (I'm in Texas). For the first time a CW rep sounded very nice and sincere.

BAD: I called the same number back again because I forgot to ask a question and I was routed to Cust Svc, so I guess I got lucky the first time to get someone to give me the response I needed..stay away from cust svc because they will only upset you.. ask to be routed to loss prevention. Then that rep told me my NACA had been canceled because they hadn't gotten a response from them on docs and started take financials again from me, after I cursed him out and explained about the run around I'm getting, I hung up the phone. On Hold with NACA. The saga continues......

[mshanie]

vicjohn,
Don't fall into the same trap, that I did, if you are working through NACA, and you have been assigned an NACA negotiator, do not try to deal with CW directly, for they will only piss you off!!!! Don't try and burn both ends of the candle...one deal at a time....I know it's frustrating , but NACA has been the one positive for us. CW will only give you the run-around , take a deep breath.......call NACA.....WAIT...Someone will give you the time of day, not just blow you off.. Naca rep will give you current info, I tried working both ends, but have found piece of mind with NACA....good luck

[vicjohn]

Update: I called CW again today and yes I still got the run around a couple of times, but I believe I actually got to the foreclosure dept this time. CW Rep, Toya, was very nice and was told info was sent to the Attorney today to cancel the sale date and that I can followup with the Attorney to confirm on Friday, possibly tomorrow. I explained the difficulty in getting to the right dept and she said the foreclosure dept # is 877-744-7691, this is most definetly a new number from my experience in dealing with CW. Also she said their fax# is 800-658-0395 but to call to let someone know when you are faxing docs over first. She still says they don't have any docs from NACA and that she is familiar with them. CW is automatically reviewing my loan for a mod based on Obamas plan, which I don't see how we qualify because we don't see gross income, especially after hubby's child support payment. I relayed the information to NACA rep and they said for me to send them new paystubs/hardship letter and they will resubmit. I will let you know on Friday if the Attorney confirms cancellation of sale date.

[stressedout1]

Take care and good luck with your situation...I am in a very similar situation with the sale date slotted for after April 6th. CW sent me a mod on the 2nd with an increased payment..I am still waiting for the 1st loan to see what they are going to do..

[vicjohn]

I contacted CW attorney today and they say they still haven't received anything from CW to cancel sale date. Obviously I called CW again the rep saw where the notice was supposed to be sent to the attorney and the rep placed me hold to contact the foreclosure tech who in turn told the rep he hadn't submitted the cancellation to the attorney's office yet!!!! The rep said he was sending an email to his supvr to escalate it being sent to the attorney....Anyway I will call attorneys office again on Monday and pray for the best.

In the meantime, my husband was calling CW as well and whatever dept he reached told him they couldn't talk to us anymore because our account is tagged as NACA. I was happy to hear them say that finally after saying they didn't have naca docs and then saying they canceled it. Maybe it takes 2 weeks for the naca docs to show in their system....

I know we are all experiencing the same issues, so I will keep everyone informed on my progress.

[mshanie]

vicjohn,
If your husband was told by cw, that they are aware that you are now working with Naca, they have an agreement to stop suspend all activities until they give NACA a shot at working with CW on your behalf, NACA acts as a pro-bono homesave lawyer of sorts. I would call the auction company that is on your sale papers to in fact verify that they received notice from CW lawyers to cease collection activity while going through the process with . NACA, me personally am very grateful for this sight and naca for everything that they have done for us , including going back to the bargaining table....good stuff here.....I thought from here on out, since our sale is stopped, I will only use CW web site to check my account info and any human contact will be strictly through NACA restructure negotiator, as I don't want to chance confusing of CW people, sounds like they are already confused enough...good luck!!!

[mshanie]

vicjohn,
By the way, my docs that I gave to NACA, showed up on my cw account within 48 hours, after I confirmed sale date stopped.

[vicjohn]

Thanks for your feedback. Unfortunately, I wish I could see my account updates online, but unfortunately they have blocked access to my account online. Now that I know they tagged my account as being related to NACA I won't be calling CW anymore unless absolutely necessary. I would have given up on saving our home if I hadn't came across this site, because it helps to know I'm not losing my mind and everyone else is having the same difficulties and hardships and knowing the games and steps to expect keeps my sanity balanced. Go Loansafe!

[vicjohn]

I called CW attorney this morning and no postpone was showing in their system, the rep transferred me to the attorney litigation dept where the rep there said he would email his CW contact directly and to followup with him this afternoon. I did call back and the update from the attorney is now CW reviewing for mod proposal and the sale date has been pushed out to May 5th! Hopefully NACA can work their magic and I can relax for a little bit and save more money just in case. I also asked if I would get offical documentation of the postponment and he said probably in a couple of days.

Interesting enough, the rep at CW attorney's office told me, if I didn't get a mod approval with CW to call them back and they would try!!!!! Shouldn't that be a conflict of interest?

[mshanie]

vicjohn,
I would stay on the CW lawyers and call the auction house that appears on the sale papers until someone gives me a straight answer, I got stroked to death by CW lawyers and CW customer reps, sometimes you want to believe them, but in my dealings with them I don't feel that they are always forthcoming with the correct information, I feel better if I spend a little time double checking everybody's homework in all of this mess,if your with NACA and CW acknowlegdes this, then your sale should be stopped. good luck

[vicjohn]

I haven't been able to access my online CW account details for a while and when I just tried it let me in and I can see account details.

Under workout info:

Workout Status Details: Your Recast has been canceled from workout servicing. We regret to inform you that the loan did not qualify for a Workout Assistance program. Please be advised that normal collections activities will resume on your loan. Please continue to explore alternative options to bring your account current. If there is any change in your financial situation, please call for reconsideration.
Information as of: 03/18/2009
Workout Stage: Canceled
Phase/Sub-Phase: Borrower Did Not Qualify

Did anyone who was approved via NACA have this status msg now or prior to getting your NACA approval?

[vicjohn]

One more question, is Recast the same as Modification? Do you think this is related to NACA? Getting a little nervous.....

[vicjohn]

I did receive the official attorney letter that the sale date was extended to May5th. That gives me a little breathing room and hopefully I can soon do the Happy Dance that everyone is doing on this site with their NACA approval emails. Also, I can now log into my CW online account and I couldn't before so I hope that is a positive sign as well.

[stressedout1]

That is great news vicjohn..I am hoping to have a little breathing room too with naca being so backed up. they also contacted cw regarding postponing my sale date. naca still have to submit a proposal to cw but not before we have phone counseling but they are so busy that i will have to wait until the end of the month for my appointment. Please keep us posted with your situation.

[MP927]

I hope you can do the happy dance soon too vicjohn!