NACA LA Event - Chase Servicer - Freddie Mac Mortgage - Mortgage Forum

jmjerome · 10-01-2009, 02:46 PM

Hi.

I'm new to this forum so forgive me if this information has already been posted.

I went to the LA Home Save event on 9/24/2009.

I met with the Chase Rep at the event and he advised me that I would have a decision within 5 - 10 days because my loan is owned by Freddie Mac and that I should check with NACA for an update. He provided me with a phone number and 3 email addresses for Tanya Johns, Reba Ealey and Gloria Young at NACA.

My Restructure Solution was submitted on 9/24/2009.
I've called the 888-404-6222 but the wait is over 2 hours.
I've email the 3 people listed above plus ljefferson@naca.com, services@naca.com, kwinn@naca.com and bmarks@naca.com.

I have not received a reply at this time.

My situation is this:
I was let go of my job due to a disability that is estimated to last for 1 year or less.

I am receiving income from disability insurance which is only about half of what I was making.

I've met the qualifications for a modification.

I will be able to return to work once my doctor gives me the OK. But not at the same company. I'll have to find a new job and my pay will most likely be a little more than what I'm receiving from disability insurance.

I am not late on any payments, but I am blowing through my savings quickly.

Does anybody know what my chances are of getting a loan modification?
How long will it take for me to get a decision and a reply from NACA?

Thank you all for your kind help and any advise.

Jeff

Evan Bedard · 10-01-2009, 03:21 PM

Hi jmjerome welcome and thank you for joining.

Quote:

Does anybody know what my chances are of getting a loan modification?
How long will it take for me to get a decision and a reply from NACA?

Thank you all for your kind help and any advise.

It is really hard to say as every modification is done on a case by case basis and there is no guarantee. You may get a quick answer since you did speak to a rep in person, but the typical turn around time for a modification is at least 30-90 and many times longer than that...