NACA FRAUD - Fact or fiction ?

[THANKS2U]

I have read many posts here on Loansafe and lately I am starting to see a negative pattern with NACA.

Does NACA do a diligent screening / BACKGROUND CHECK, of their employees and or their "Volunteers." ?

Could it be possible that employees of Bank of America / CW and or Fannie Mae / FNMA, or any of the other employees working for other Banks, Servicers or Investors, can simply get a job at any of the NACA centers ?

I assume the answer is, YES THEY CAN !!!!

If I was an employee of Bank of America and or Fannie Mae and they asked me to take a fully paid 3 month leave of absence, or gave me a BIG bonus or promotion, or my selective paid days off, if I would simply commit to Volunteering part time or work full time for NACA, or at any one of the many other HUD approved Mortgage go between companies, I WOULD DO IT ! Why not, I must be loyal to my REAL employer, the Bank, Servicer or Investor - Who allow me to make a real living...

I say this because I am seeing NACA dropping the ball lately and NOT getting very good / Viable modifications.... I also see them lying to people and giving misinformation and just generally screwing up things for borrowers who are in desperate need of help -

NACA should be getting background checks, at least in the form of being in contact with Federal and State tax boards, to make sure whomever is working for NACA, is NOT also working for the Banks, Servicers or Investors !!!

I mean most companies these days do DRUG testing before hiring.

Is NACA doing TAX TESTING ? As in, if you want to volunteer or work for any department of NACA, you must agree that NACA can obtain your last 2 years of Tax returns and Investigate who you are currently working for, or last worked for, etc...

The NACA, no face to the person employees, that many of you are entrusting your financial lives to, could be Criminals, Felons, Bi-Polar, Jealous of your getting modifications and last but not least, really be Trojan Horse, MERCENARY employees for Bank of America, Fannie Mae etc ...

I wonder if NACA told all their current and future employees, come this Monday - July 27, 09 that, all volunteers and full or part time employees, will be required to sign a tax form that states, NACA will obtain their Tax records for the past 2 years and If they are currently working for a Bank, or Servicer or Investor and have engaged in any tampering activities, or poor quality services to borrowers, they will be facing Federal Criminal Charges of Fraud and will be prosecuted to the fullest extent of the law, should they be found guilty....

How many missing NACA employees would there be come Monday morning ??

Think about it and NACA should be thinking about this as well !!

Good luck to us all

[Irish Gal]

The NACA, no face to the person employees, that many of you are entrusting your financial lives to, could be Criminals, Felons, Bi-Polar, Jealous of your getting modifications and last but not least, really be Trojan Horse, MERCENARY employees for Bank of America, Fannie Mae etc ...

Hey THANKS2U,

Nothing would surprise me, really. We are living through a very sinister time in this country. That's how identify thieves and rings work. They get jobs where they'll have access to personal data and steal tons of info on consumers and either use it themselves or sell in the underground market which is HUGE worldwide. They've had Dateline shows about it too. They work in banks, insurance co's, anywhere that data would be easily accessible to them. And, NOPE, employees are NOT properly screened. Proper screening costs money and we all know corp America likes to keep their costs down so they can spend on big bonuses instead. It's actually cheaper for them to just write the ID theft loss off than to stop the crimes to begin w/ by paying more upfront to prevent it. These businesses hire any ole creep who will work for minimum wage or barely more. Welcome to America. I also agree that there are ALOT of distressed homeowner haters alive and well in this country and they bytch non-stop on other housing blogs about all the "irresponsible homeowners" and losers who "signed on the dotted lines" and are now "getting a free gov't ride" with loan mods. And, "where's mine?" hostilities. They desperately want distressed homeowners to suffer, ALOT, for any financial missteps they've made. They stew about this day and night. They gossip on the these blogs with stories like "my neighbor told me he got a mod and I can't believe it!!!!" and is livid a neighbor, friend, relative got help. They blame the country's econ woes on distressed homeowners and actually defend the greedy banks, or investors. Anyone who gets a mod or walks should be shot, according to these lovely folks. Anyways, interesting post THANKS. Maybe you should get a job at NACA and tell us about your experiences! By the way, Bruce Marks is a smart, saavy guy (started NACA). I'm sure he has thought about your very concerns. My hunch tells me he wouldn't callously or knowingly put consumers in harm's way. NACA normally has a very good reputation.

[THANKS2U]

Irish Gal - Your post has great information - I often forget about those people who are "Distressed Homeowner Haters" and how they want to see us all suffer as much as possible and how thye blame us for the poor economy and Big Bailouts - Some of my own friends and relatives are the very same and often shame and blame me and have looks and comments of scorn towards me for even thinking about getting help from any government modification programs. Strange how many people will BLINDLY TRUST anyone wearing a suit or uniform or a name tag - whether they be a Doctor, Lawyer, Banker, Mechanic, Lender, Broker or NACA worker. Especially when people are desperate, we trust even more blindly !! I myself am guilty of trusting too much and have paid the suffering price, more than once... But at least I never broke any State or Federal laws or fiduciary obligations, like the banks, servicers and investors did and are Still doing. Bruce Marks, the starter of NACA, may have considered saboteurs infiltrating his NACA centers or maybe not, perhaps he will answer this question ? but the $$ cost and or time to weed Saboteurs, haters & criminals out, may have made him forget about diligently implementing any type of filtration system, to make sure they never get hired in the first place. Once they are in, it is probably too late, like a Virus infecting your computer, prevention is the best defense.. In my opinion, the banks will quickly pay back their Bailout funds, most likely within 4 to 6 years. Then they will tell us ****ers and the government to go straight to hell and the banks will take over America again - By the way, I just read that 68 billion has already been paid back by 12 banks.... When Bank of America / CW has at least tripled their TARP fund investments, they too will quickly pay back all their bailout funds. The tax payers will have all their money back within several years. Our childrens children will absolutely NOT be paying for the TARP funds, as the haters want us to believe, I predict by the year 2015 most, if not ALL of the bailout funds will have been paid back. The rich will have gotten richer and richer and richer - But the economy will still be POOR to TERRIBLE - I wonder what the HATERS will say then ? I am sure they will find someone innocent to hate ! - -

Under any circumstances, getting back to NACA, we all should start brain storming about how to make sure that NACA is 100 % on our side and is working to get us all the best modifications possible and that no criminal sabotaging is happening right under our DESPERATE, TRUSTING NOSES - Thank you again for your insightful input ! Respectfully, THANKS2U

[pdsfoley]

I think if you read the posts on here you'll see more satisfaction with NACA than with BAC........You have to remember how many people they are dealing with....they are overwhelmed too........as far as I'm concerned they're doing a great job!!

[drose]

Under any circumstances, getting back to NACA, we all should start brain storming about how to make sure that NACA is 100 % on our side and is working to get us all the best modifications possible and that no criminal sabotaging is happening right under our DESPERATE, TRUSTING NOSES - Thank you again for your insightful input ! Respectfully, THANKS2U

Thanks2U - NACA got me 2.5% fixed for 28 years on my 1st mortgage, and 1% fixed for 28 years on my second. It saves my over $1,800 a month on my mortgage, and allowed me to keep my home! Yes, I would say that NACA is 100% on "our "side. Go to one of their seminars, and you will see the people who volunteer for NACA. They are you and me, everyday folks just trying to give back, and help people.

[THANKS2U]

NACA got me 2.5% fixed for 28 years on my 1st mortgage, and 1% fixed for 28 years on my second. It saves my over $1,800 a month on my mortgage, and allowed me to keep my home! Yes, I would say that NACA is 100% on "our "side. Go to one of their seminars, and you will see the people who volunteer for NACA. They are you and me, everyday folks just trying to give back, and help people.
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I appreciate that great story - But if I went to a seminar I must admit I have 100 % lost my ability to be a mind reader and therfore I would be unable to factually insist every Hud employee is on "our" side.

I can clearly see by your Modifications numbers, that the NACA individual person working on your Loan at NACA was definately on YOUR side. Thank God for that !

But good, positive, long lasting Viable mods, like yours are becoming rarer and rarer with NACA why would that be ?--

The Senate Banking committe spoke about predatory practices still being inflicted on borrowers, by the Banks Servicers and Investors , on July 16, 09.

My point is NACA should not allow this to be happening and if they are allwoing to happen, why are they - The, we are tired and overwhelmed so you borroers must expect less and less from us and thus less and less from the banks on your mods..

Modification terms are getting higher and the NACA service is getting lower, with NACA saying I am sorry... But I just can not belive that people are getting rejected and getting lousy Mods, because NACA is now overwhelmed.

Being overwhemlmed should not create mathematically, non viable modification terms or mod rejections, whereby NACA simply says, Oh sorry that is the best we can do for you and the best you will get from the servicer and or investor - And with no reason or ryme - JUST CUZ!

Something is staring to Infilitrate into HUd Approved Agencies and whatever IT IS, it smells fishy, in my opinion..

I hope I am 100 % wrong, but time will tell in the numbers and in truly positive modifications like yours being the norm and not the exception

Thank you for you input T2U

[Melanie702]

"Being overwhemlmed should not create mathematically, non viable modification terms or mod rejections, whereby NACA simply says, Oh sorry that is the best we can do for you and the best you will get from the servicer and or investor - And with no reason or ryme - JUST CUZ!"

I agree with you on this! I can understand taking LONGER because they are overwhelmed, but with the numbers changing and going higher and higher, I don't understand, and that's also starting to alarm me as well. Hmmm....something does sure sound fishy to me also.

[THANKS2U]

Melanie702

Yes, Exactly ! I tend to get a bit wordy and go on & on, but you are right on the money, in the fact that basically, when any line gets longer and longer, it does take more time, a longer time, to get to the front and receive the professional service we deserve. This happens at my bank and post office all the time. However when I finally do get to the postal clerk or bank teller, they have NEVER told me, your Bank account balance is way off today and your interest rates are all screwed up, because we are tired and overwhelmed... Nor has the postal clerk said, stamps will cost you one dollar each today, because I am tired and overwhelmed... No has a grocery store clerk told me, I am tired and Overwhelmed so your groceries are going to cost you 30 % to %50 % more today, depending how I feel at the end of me ringing you up....

NACA and all other HUD approved Modification Agencies should be watched like a hawk....

I am sure most of their employees are honest and do not work for the banks or servicers or Investors, or are not criminals searching for useful information and are not HATERS of people trying to get lower interest rates than the NACA employee themself has, but it only takes one or two bad apples to spoil the barrel and screw things up.

Truth be told I myself will be using NACA, but I will not trust them as far as can throw them and I have a very bad shoulder injury.

When all is said and done, I will keep all posted as to the due diligence progress and terms supposedly offered by NACA and received by the Servicer.

All I am saying is that if the terms are unacceptabe, I would question the NACA person , employee or volunteer, as to whether they work for, or get PAID by, any bank, servicer or investor, in ANY capacity and that they must sign an affidavit stating they DO NOT, under penalty of criminal fraud prosecution... If they are honest, they should have no problem signing such a paper when working for any HUD approved agency, like NACA...

If anyone has any other ideas as how to stop ANY possible fraud within any of the HUD approved agencies like NACA, let us know....

Hud approved agency fruad, just may be one of the fastest growing stealthy crimes, to be inflicted upon desperate borrowers -

Good luck to us all

[pdsfoley]

I am interested in WHY you think NACA is not doing what they are supposed to be doing??? And why you think they are being dishonest...I haven't read any posts on here where anybody has complained about the offer they got...I read complaints about how long it takes....but once the offer is made it seems everyone is happy with the offer....Am I missing something??

[SillyWorld]

All NACA does is what the banks want if you read there site they wqork with all the big boys and get $$$$$ donations from them for being the middle man

[Kavman25]

Spoke to a counselor tonight and she said that some are staff and some are volunteers. They are paid from grants from the government. She was very knowledgeable and answered all my questions. They are the middle man that negotiates with the banks. They get your information and put it into the database according to what banks are looking for. I have another call with her tomorrow cuz she still needed some faxes. If you have any questions you want me to ask, please post them.

[SillyWorld]

volunteers

They would have to make something or they would not do it, plane and simple.

Unless they got a deal like some here from NACA and are so Happy they work for FREE

[Kavman25]

http://www.nw.org/network/nfmcp/docu...WARDAMOUNT.pdf

NACA grant.

[SillyWorld]

Yes we understand about the GOV Grants...Its the Employee's we wondering about

[HereinNY]

I just have to add to this forum...Naca submitted me for 2% but approved a mod at 5.25% without even consulting me....It only reduced my payment by $70 instead of the $500 they submitted for me...WHY?

[SillyWorld]

I just have to add to this forum...Naca submitted me for 2% but approved a mod at 5.25% without even consulting me....It only reduced my payment by $70 instead of the $500 they submitted for me...WHY?

That is a question only NACA can answer..???

Maybe they were confused and mixed you up with another case

[THANKS2U]

I am interested in WHY you think NACA is not doing what they are supposed to be doing??? And why you think they are being dishonest...I haven't read any posts on here where anybody has complained about the offer they got...I read complaints about how long it takes....but once the offer is made it seems everyone is happy with the offer....Am I missing something??

Perhaps we are reading different posts ? Or at least have different opinions on what a truly VIABLE loan moderation must be.

When people are desperate, they tend to always accept much less than what they deserve and sadly, be happy with it, whatever it is....

As in something is better than nothing.

Which is basically Psych 101

Respectfully, T2U

[THANKS2U]

All NACA does is what the banks want if you read there site they wqork with all the big boys and get $$$$$ donations from them for being the middle man

I did not know HUD approved companies get donations from banks, servicers and investors -

Do I hear conflict of interest !!! But oh well, truth can be cruel...

Even if the conflict is subconcious in the employees to LEAN more toward the side of the banks that feed, cloth and shelter them and keep their jobs open and available..

I did a search today and found that Many HUD approved counseling and loan modification agencies actually state their sponsors are Bank of America, Wells Fargo, etc and actually show the bank logos and have pop up adverstising for the banks - Hmm - Life is so much FUN, it is laughable isn't it ..

Oh well, that is the REALITY of the world we live in sometimes..

My main point in all of this is, to make sure that our loan modifications are truthfully VIABLE and trutfully ACCEPTABLE and that no one here simply settles, because they FEEL that the best they can get..

Now if the mod is factually the best you can get and their is supportive evidence to show this, then it is up to each individual to decide.

But, there better start being some FAST ENACTED LAWS, implemented by the Obama administration, to QUICKLY DISPUTE whatever poor / NON VIABLE modification offers any individual is offered -

I believe they are working on a DISPUTE PROCESS as we speak ?

Otherwise, we will start seeing less and less truly VIABLE mods being offered and 2012 is coming up SUPER FAST People.

I could be mistaken but isn't 2012 the DEADLINE ?

And some people wait a year to get any mod offer at all

Good luck

[SillyWorld]

Is it possible 2% five years then up 1% a year till reaches the 5.25% for the rest of the loan..???

[SillyWorld]

I did not know HUD approved companies get donations from banks, servicers and investors -

Do I hear conflict of interest !!! But oh well, truth can be cruel...

Even if the conflict is subconcious in the employees to LEAN more toward the side of the banks that feed, cloth and shelter them and keep their jobs open and available..

I did a search today and found that Many HUD approved counseling and loan modification agencies actually state their sponsors are Bank of America, Wells Fargo, etc and actually show the bank logos and have pop up adverstising for the banks - Hmm - Life is so much FUN, it is laughable isn't it ..

Oh well, that is the REALITY of the world we live in sometimes..

My main point in all of this is, to make sure that our loan modifications are truthfully VIABLE and trutfully ACCEPTABLE and that no one here simply settles, because they FEEL that the best they can get..

Now if the mod is factually the best you can get and their is supportive evidence to show this, then it is up to each individual to decide.

But, there better start being some FAST ENACTED LAWS, implemented by the Obama administration, to QUICKLY DISPUTE whatever poor / NON VIABLE modification offers any individual is offered -

I believe they are working on a DISPUTE PROCESS as we speak ?

Otherwise, we will start seeing less and less truly VIABLE mods being offered and 2012 is coming up SUPER FAST People.

I could be mistaken but isn't 2012 the DEADLINE ?

And some people wait a year to get any mod offer at all

Good luck

Yup 2012 is it then its FALL fall again and worse than first time probly..??

I f I had the cash I would get all $1.00 bills and pay off my loan in person if they reject then take that as paid in full

[THANKS2U]

Yes we understand about the GOV Grants...Its the Employee's we wondering about

Yep, most realize that quote, "non profit" HUD approved counseling agencies receive Government funds - Well, in truth they receive our TAX PAYING money, as did the banks for their bailouts.

Sillyworld is correct, it is a Silly World LOL : ) sorry but it really is sometimes.

Seriously though, SillWorld is right on when they say, It's the EMPLOYEES we are wondering about...

As in, WHO are they REALLY and are they doing what they are suppose to be doing ?

Finally, are they TRUTHFULLY, 100% WORKING FOR US ! ??? and not against us in ANY way, shape or form ??

Time and history will tell - Sadly, Time is running out FAST

Thansk for all your input everyone

[merev]

I think it is okay that you have doubts and question the employees at NACA. My mod is not complete yet, but NACA has accomplished more in 2 months than I did trying 8 months on my own. I believe that most of the mods are different because of the area you live in; your finances; and loan amt on your home. To me, that is a lot of factors that vary. My loan amount is only 148,000, but others have higher loan amounts, 2nds, etc.
I am just thankful that there is someone who is FREE and willing to work on my behalf.

[pdsfoley]

I think there are good and bad employees anywhere....some do their job well....others hate their job and just don't care. The people I have spoken to at NACA seem to care. Next time I call NACA about my loan I'll ask the person I'm talking to where they are from and why they are there....Last month they were in the process of hiring 1,000 people..to keep up with how many people are calling..I looked at the ad it was a paid position starting at 13.50 per hour. They have a contract with BAC that started back in the 90's way before this crisis hit...

[FedUp02]

Well, 2012 also marks the end of Earth, so, I guess in the end (no pun intended) it really doesn't matter at all does it? Maybe we should just forget all this and have a three-year long countrywide (no pun intended there either) party and go out in style. Just sayin'

[Melanie702]

Thanks2u, I agree with everything you have posted. You know, I haven't seen ONE VIABLE MOD since April when some members on this board posted they received the 2% proposal from NACA. After that, NADA! Maybe I'm blind? Seems like everyone that was submitted after April and during their 1,000 employee hiring process, the proposals got crappier and crappier. Wonder who they hired? HMMMM............................

[THANKS2U]

[quote=Melanie702;106283]Thanks2u, I agree with everything you have posted. You know, I haven't seen ONE VIABLE MOD since April when some members on this board posted they received the 2% proposal from NACA. After that, NADA! Maybe I'm blind? Seems like everyone that was submitted after April and during their 1,000 employee hiring process, the proposals got crappier and crappier. Wonder who they hired? HMMMM...........................

EXACTLY ! You're eyes are wide open and seeing very clearly.

Bank of American wants to turn everyone into trained monkeys, you know, the kind that are trained to hear no evil, see no evil and speak no evil -

That is what evil companies do..

That is why Allen Jones lied at the Senate hearings and that is why Bank of America just keeps stalling and stalling and stalling, so no one has any evidence of B of A giving LOUSY mods...

Fiduciary & Ethical Ignorance is BLISS to Bank of America

Bank of America is hoping 2012 will come and go, with them having done VERY little to help anyone.

And they are hoping they just might have turned our BILLIONS of tax dollars into triple profits before 2012.

Then they will pay back all the bailout money and tell President Obama and all his programs to DROP DEAD -

Then, they will fire all the phone answering retards and hire thousands of Mercenary Foreclosure ****s to take care of us all.

I AM NOT JOKING !

[THANKS2U]

Sorry - I went a little off point about NACA because I was writing another post about B of A -

NACA does need to be made more accountable for their employees and ALL the HUD approved agencies need to be doing the same. Additionally, HUD approved agencies need to have MORE POWER to Demand Modifications and IMMEDIATELY inform the treasury, or whomever, that the Servicers and Investors are taking FAR too long and giving mainly poor / Non Viable loan modification offers...

NACA needs employee screening and evaluations and all HUD approved agencies need to have more power and accountability - They are mostly paid through our tax dollars anyway, so they should be working for us mostly...

[FedUp02]

I'm guessing the enemy.

[dthom]

The mods since April are not the only ones who have not seen any movement on NACA mods, lots of us are still waiting since Jan and Feb. and have heard nothing. Now with all the new hires at NACA some of us are finding our info is incorrect etc.

[Bridget Ann]

So agree with Thanks2You on NACA and HUD. I actually emailed April Charney, consumer law attorney, and she recommended NACA and I told her I thought they were a joke. I've talked to them and HUD in L.A. and it's like going to get your license at the DMV. Minimum wage employees thankful for a job and secure b/c they get gov't money. Seems like Bruce Marks is as shady as they come. Does anyone ever wonder how he gets to run NACA? It's all politics and we continue to let it go on. He's a multi-multi-millionaire. The site says they did refinances, too and donn't charge fees, etc. Of course they don't charge fees because the bank paid them thousands of dollars to get the business!!! Besides, did you know it costs money to be a member of NACA. It's a shady operation I think..

On a sidenote, Bank of America/Countrywide is a nightmare. I submitted my mod 3 times with them since last December and they canceled it each time b/c they said they didn't get paperwork they needed but they never contacted me to let me know about the paperwork. Oh, I almost forgot, they canceled my mod last December b/c they called me on X-mas eve and since I didn't return their call, my mod was canceled. I thought I was on episode of Punk'd and they were kidding. Already lost my rental property last year b/c C'wide at time wouldn't accept short sale.

Anyway, I'm now in trial program using guide thru www.hamp.org that walks me thru steps on how to get mod done and gives me daily access to consultants & attorneys and there's a live weekly webinar with attorney/negotiator on how to get thru b.s. and actually get mod done. So far I have to say I'm pleased. Cost $97 total but I swear, talking to an educated individual on how to get my mod done is priceless. The program is supposed to be released this week or next week to everyone. I'll let you know.

[CW California]

[quote=THANKS2U;106312]

Thanks2u, I agree with everything you have posted. You know, I haven't seen ONE VIABLE MOD since April when some members on this board posted they received the 2% proposal from NACA. After that, NADA! Maybe I'm blind? Seems like everyone that was submitted after April and during their 1,000 employee hiring process, the proposals got crappier and crappier. Wonder who they hired? HMMMM...........................

EXACTLY ! You're eyes are wide open and seeing very clearly.

Bank of American wants to turn everyone into trained monkeys, you know, the kind that are trained to hear no evil, see no evil and speak no evil -

That is what evil companies do..

That is why Allen Jones lied at the Senate hearings and that is why Bank of America just keeps stalling and stalling and stalling, so no one has any evidence of B of A giving LOUSY mods...

Fiduciary & Ethical Ignorance is BLISS to Bank of America

Bank of America is hoping 2012 will come and go, with them having done VERY little to help anyone.

And they are hoping they just might have turned our BILLIONS of tax dollars into triple profits before 2012.

Then they will pay back all the bailout money and tell President Obama and all his programs to DROP DEAD -

Then, they will fire all the phone answering retards and hire thousands of Mercenary Foreclosure ****s to take care of us all.

I AM NOT JOKING !

I received a great mod thru NACA, 2% life of loan, investor was BONY. It seems the people that are having trouble thru NACA now seems to be the government backed loans. Gee Thanks Barney Frank!

[THANKS2U]

CW California

Count your lucky stars, you are blessed indeed !

Sadly, NACA is not doing for 99 % of others, what they did for you.

Something needs to be done to help everyone who needs a Viable Mod to actually receive a Viable mod in good faith and in quick time.

Thanks for you post

Respectfully,

Thanks2U

[THANKS2U]

I actually emailed April Charney, consumer law attorney, and she recommended NACA and I told her I thought they were a joke.

Anyway, I'm now in trial program using guide thru www.hamp.org that walks me thru steps on how to get mod done and gives me daily access to consultants & attorneys and there's a live weekly webinar with attorney/negotiator on how to get thru b.s. and actually get mod done. So far I have to say I'm pleased. Cost $97 total but I swear, talking to an educated individual on how to get my mod done is priceless. The program is supposed to be released this week or next week to everyone. I'll let you know.

Bridgett - The hamp address you posted takes us to an Medical Insurance Company

Do you know the correct address ???????????

Thank you

[mgallant]

CW California

Count your lucky stars, you are blessed indeed !

Sadly, NACA is not doing for 99 % of others, what they did for you.

Something needs to be done to help everyone who needs a Viable Mod to actually receive a Viable mod in good faith and in quick time.

Thanks for you post

Respectfully,

Thanks2U

I feel so bad for all the ones who are now "Left" behind! It almost appears as though things started to come to a hault with the good MODS if you submitted later than April or May. Many here received great MODS myself included but it seems as though most of us were in the system in April or before. I know there are still some who have been waiting since Jan or Dec of last year without a decent mod too!

Trust me when I say I know it is hard to wait for an answer or get a bad MOD but you have to keep kicking and fighting for what is right. I started my fight to keep my home in May 2008! We went through 3 foreclosure sale dates, 2 crappy MOD offers and several hundred "customer" service reps along with emails, letters and phone calls until we finally received an incredible MOD! 2% for 27 years Fixed from NACA June 09 (13 months)!

I give NACA all the credit in the world, but it did not come easy nor without hundreds of phone calls and faxes. I am not saying any of you are sitting back doing nothing to get your Mod approved, but you need to know that the bottom line is you have the choice to accept or decline what is being offered! If you feel the offer is bad then tell them where to put it! You have to push every button, call every number, write letters to anyone who will listen or can help! If your home is that important to you, then you must not give in. Fight with everything you have and let them (NACA, CW, BOA and everyone else) know that you will not give in until they offer you a fair deal!

I know it has gotten harder to get the MOD that will help all of you out of this mess, but you all need to get it in your heads that it is going to take alot of hard work and long sleepless nights.

Good Luck to you all and my prayers are with you for success!

[patnj]

Hi

I did my modification with Countrywide myself. Started in 12/08 and it is just in the final stages. I got an interst rate reduction from 6 1/2 to 3 1/2 for 5 years then starts to go up to 6 1/2 over the next 5 years. Since I plan on selling my house in 4 years it seems ok.

I took my mother to NACA back in May for hers thinking it would be easier and less stressful for her. She has not receceived one phone call or email even though we have left numerous messages and sent 5 emails asking for an update. I feel this is a disgrace and wonder where her loan even is. I am going to call the guy who took all her information initally in May and see if he can find anything out. I emailed Barbera Desossers office last week and a woman called back within a few hours but said she couldn't give us any details since we were with NACA. I explained to her that NACA is not answering any of our inquires and she said there contract with NACA says they can only talk to NACA. Has anyone else who is with NACA been able to get an update fro BOA staff?

Thanks

[giantsfan]

patnj, we started with NACA in jan 09 after 6 months of trying to deal with CW which was unsuccessful. anyway, it took NACA from Jan to Jun to finally submit our paperwork for our mod. We would call them every week and each time we called they said that they didn't receive our fax with the paperwork, same story every week and the same paperwork. You may want to make another appointment to make sure they have all your mom's paperwork bc that may be the hold up, like ours. Good luck to all of us.

[nkmorgan55]

I am going to add my 2 cents here as I spent over one year going through HUD, attorney general, on my own and NACA and feel my experience might help others in the process.

First there are strange misconceptions floating around about NACA and I don't understand where they came from because NACA has had an adversarial relationship with these banks from the beginning. They have been able to get some contractual settlements worked out for modifications that are not available through the banks. Also they are free. The down side to NACA is that they are not well organized now and many of their phone reps can only tell you to call back in two weeks.

Bank of America has been terrible in dealing with homeowners on their own as witnessed my five attempts at a mod over the last year.

This is what I recommend and it worked for me. Use both avenues. I had the help of David Leighton in finding my NACA proposal , dusting it off and escalating it to a top-notch negotiator. The proposal was better than what BofA would offer me according to the president's office. Secondly you have to demand a supervisor at NACA as they are the only ones that can get you the attention that you want and deserve. Do not accept a phone rep promising that you will get an email or a phone call back. I do not think that these people are part of a bank conspiracy. They just are untrained and new and try to get you off the phone so they can get to the next 70 people. Be assertive. You are the one who ultimately solves this problem but use all the tools available to you. NACA was able to do what lawyers, the attorney general's office and bank of america's own executive team could not do. I am now sitting here with a 5.25% fixed rate loan for the life of the loan with no fees or upfront costs of any kind and I was CURRENT but at a 10% ARM.

[Garry]

Hmm, I've had some suspicions myself in another thread, but I am a little more point blank with some facts, here is a link that will ad to all of this: I am so confused with BofA

[sleeplessinAZ]

Well, speaking for myself I don't think they are a fraud. We just got approved for 3.25% fixed for the life of the loan through NACA. The only thing I can think of that's different than most everyone else is that we don't have a Fannie Mae, Freddie Mac or FHA loan and right off the bat did not qualify for MHA.

NACA submitted our paperwork on 5/5 and we just got approved on 8/12.

I had the help of David Leighton in finding my NACA proposal , dusting it off and escalating it to a top-notch negotiator.

I co-sign this! My paperwork was waiting for the BPO results, which were done and just sitting there until David Leighton looked up the info and forwarded that info to the negotiator. Our approval came that same week.

[caldwell02]

I haven't seen a viable mod either,Melanie et.al., but we need to be careful here not to be doomsayers on inuendo only. We need to find out! I'm going to 1: try to find out what the contracts between Naca and the lenders say (because my lender (Chase exec team) told me they couldn't talk with me because of their contract with Naca; 2: try to figure out why the person I talked with at NACA in April said they were submitting a mod proposal for BOTH of my loans (1st and 2nd) and I did get that clarified - only verbally though - and now it looks like they only submitted for the first. 3: I'm going to try to find out why naca hasn't contacted me at all on their own since the submittal on 4/24. I'm first going to try to find out these things through a phone call scheduled with naca this Wednesday. If I do not find out, I'll contact Kevin Winn. If I'm still not clear, I'll figure out next steps. If I need to, I'll drive the 6 hrs. and pay for a hotel to stay in San Fran for their tour in September.
I do see some improvement in their website, which seems encouraging. What I don't want to do is go off on them without proof. Let's rally to find out what is really going on!