12NEWS in Phoenix On NACA false claims

[davephx]

Don't think this has been posted I'm behind

In Phoenix 12 News at 10 Thursday night did a story about a women who went to NACA in Phoenix and was "promised" a modification by NACA.

Than she was turned down and says has not "had any luck dealing with her lender" and will lose her him in 3 weeks.

They showed the NACA event and irate women who thinks they (NACA) should come thru with the modification they told her was submitted.

The anchor at the end said that mortgage experts said that she should appeal (yah to who?) or try and again for a modification and she might get lucky.

It was a pretty bad story, short on facts but as well all know here, NACA actually getting their approvals done with the lender are rare.

This is probably a very common situation with those thrilled they think they got approval at NACA only from the proposal but the servicers reject.

I am contacting trying to educate them on the real problem with mods. But the report looked very bad for NACA which she blamed for not doing what they said they could do.

[imlars]

Don't think this has been posted I'm behind

In Phoenix 12 News at 10 Thursday night did a story about a women who went to NACA in Phoenix and was "promised" a modification by NACA.

Than she was turned down and says has not "had any luck dealing with her lender" and will lose her him in 3 weeks.

They showed the NACA event and irate women who thinks they (NACA) should come thru with the modification they told her was submitted.

The anchor at the end said that mortgage experts said that she should appeal (yah to who?) or try and again for a modification and she might get lucky.

It was a pretty bad story, short on facts but as well all know here, NACA actually getting their approvals done with the lender are rare.

This is probably a very common situation with those thrilled they think they got approval at NACA only from the proposal but the servicers reject.

I am contacting trying to educate them on the real problem with mods. But the report looked very bad for NACA which she blamed for not doing what they said they could do.

There is NEVER a guarantee, even when you speak to the lender to verify they have recieved you financial package they tell you this. Unfortunately, when you default on your loan you have broken a legally binding agreement and the lender is not legally bound to do anything for you. This is why the government had to step in. There are many determining factors when requesting a mod, the most important is who your investor is and no one but you can get that information. You must request that information in writting. They also consider how delinquent you are, what your hardship was and if you can afford to make payments now.

[caldwell02]

I went to the event in San Fran. It is not NACA that has the final say, it is the lender. I'll bet she was someone who was pretty uninformed and went to the event (and stood in long lines and listened to all the hype) and then went exhausted to her lender who told her it looked good... If she was three weeks away from foreclosure, however, NACA usually bumps someone to high priority status. Still, it is the lender who decides. But NACA can push. She really could try appealing to NACA - kevin Winn - possibly, but not knowing the story I don't know what might work.

Good luck with contacting that station! Maybe this is a way in to really educate one of the news outlets to what is really going on.

[Moe Bedard]

There is NEVER a guarantee, even when you speak to the lender to verify they have recieved you financial package they tell you this. Unfortunately, when you default on your loan you have broken a legally binding agreement and the lender is not legally bound to do anything for you. This is why the government had to step in. There are many determining factors when requesting a mod, the most important is who your investor is and no one but you can get that information. You must request that information in writting. They also consider how delinquent you are, what your hardship was and if you can afford to make payments now.

First of all no one is perfect and there are always two sides to a story. That is how I always approach any company or person. We all make mistakes and or are unfairly criticized at some times in our lives.

But in this case, this news story was fair and balanced and one that I believe told the truth.

The facts are that if you or NACA does their do job, you can stop a foreclosure uop to a couple days before a sale. Most ALL mortgage servicers have the complete authority to stop sales and modify loans. This BS about investor approval is rare and mainly only on Fannie, Freddie, FHA and Ginnie loans. AKA government loans.

If you have a hardship and the ability to pay, you can get a loan modification and the reason people do not often is because who ever they have hired or the non-profit has dropped the ball because they are just too inundated with these types of cases and are busy doing tours and and helping new people.

You are right, there are no guarantees with loan modifications. However, you failed to mention that up until recently (maybe 2 weeks) NACA was grandiosely claiming 80% success rate. OK, obviously 80% is not a guarantee, but pretty darn close to a guarantee.

I wrote a story on this and called them out for making these FALSE claims that were not only a lie, but a terrible misdeed to tens of thousands of struggling Americans who place their hope and belief that NACA can and will save their home. Now, they have changed their marketing ways and the percentages claimed have dramatically decreased to 20-30%.

To be honest with you all, I despise liars who lie for their financial gain and this is EXACTLY what NACA has done for years.

They are a good organization that I used to say was great. They are far from perfect and a they have lot of internal issues that need to address. I have caught them in quite a few lies to not believe that many people are unknowingly losing their homes on NACA's watch.

[NacaNation]

I would like to THANK NACA, those despicable liars for their tremendous help in saving my home. BofA told me I did not qualify - NACA got me 2% for the remainder of the loan.

Is there ANY other free organization helping so many homeowners actually negotiate a mortgage modification? Not one.

Thanks ALSO to the LoanSafe forum which provides the "operators manual" on how to work with NACA. I don't think I could have been successful with NACA without all the experiences related here that help steer you in the right direction.

[Moe Bedard]

I would like to THANK NACA, those despicable liars for their tremendous help in saving my home. BofA told me I did not qualify - NACA got me 2% for the remainder of the loan.

Is there ANY other free organization helping so many homeowners actually negotiate a mortgage modification? Not one.

Thanks ALSO to the LoanSafe forum which provides the "operators manual" on how to work with NACA. I don't think I could have been successful with NACA without all the experiences related here that help steer you in the right direction.

Glad you got help from the now, not LYING NACA.

It takes men like me to stand up to lies to get the truth. Whether it is Bank of America, Hope Now, Acorn, NACA or my sister, if you lie and it hurts people, I will call you out on it via my own online roof tops for free speech, LoanSafe.org and LoanWorkout.org

I don't care if you save homes or make loans, DO NOT LIE.

I am sooooooooooooo glad their "old despicable" lies didn't screw you. You are one of the many, many who have been helped, but there are just as many who have been F'd by NACA's false hopes.

I am glad LoanSafe could help you navigate through the seas of deceit to help put the truth together in order to save your home.

[Social Apocalypse]

Moe: That is really my big thing too. DO NOT LIE.
Everything going on right now started with someone telling a lie. It hurts, and it's the most despicable form of the human weakness. We are the ONLY species on the planet the commits the crime of intentional deception for unworthy purposes.

IF YOU LIE, EXPECT TO BE LIED TO, because the only people who will consistently communicate with you, are people JUST LIKE YOU!

[Moe Bedard]

I agree. Little lies turn into big lies. As a country, we all have been lied to. However, I think the lies will always be here and we as people and or parents, need to teach those around us that it is not morally or ethically right.

What you said is akin the old adages, "You reap what you sow" and "Karma's a Bi@t*h!" It is real and you will reap or suffer eventually.

We are the ONLY species on the planet the commits the crime of intentional deception for unworthy purposes.

Unfortunately, I think that this is now an acceptable way to operate in this new world of too big too fail, mega corporations and banks who care more about profits than human life and suffering. Hopefully, people like us can make a difference and fight the tyranny in our world.

Keep up the good fight!