Declined for modification,should I try NACA?

[lostnworried]

I was informed that my investors will not allow any type of loan modification at this time so I am stuck with my current mortgage payments. My husband lost his job and that is the only reason we are behind so I was really counting on some assistance. Does anyone think that trying to submit a request through NACA will work? I am even willing to accept any terms that will allow us to reduce our payments for a while until my husband gets a job and then we can resume normal payments. Why won't my investors work with me?

[Sunbeam]

I'm so sorry you are being stonewalled. Who are your investors, and yes, NACA might be able to help you. I would, if I were you submit my information NACA and in the meantime keep trying to get your investor to see reason. Do you have any equity in your home? They might want it...sorry to say it, but a lot of investors are chomping at the bit to foreclose when equity is involved. Good luck and keep us updated on how you do!

[lostnworried]

My negotiator refused to tell me who my investors are. What is frustrating is that the loan amount is at least 70k more than the value of the house. You would think they would want to get their money's worth. I am not asking them to reduce my loan amount, just reduce the payments for a while until we get on our feet. I would even be willing to accept a balloon amount at the end of the loan if we can just get it reduced for at least 2 years.

[Hstreet151]

So were you on the HAMP trail plan? Or had you been trying to get HAMP or a permanent mod?

[heidi79]

are you current on your payments? sometimes when you fall behind is the only way to get them to pay attention. send in a qualified written request on all the info of the loan.

[annat]

I was told for 5 months that my investor not allow any modification...I found this forum(THANKS!!!!!) and folow all advices,file AG complain.call hope line,went counsling applied NACA,was given free of coast attorney(not help at all)and call/fax to VPdepartment of AHMS.Finaly,i got enouh attn and i am on tryial plan,i am not sure that HAMP mod,cause i was told it is traditional mod...It took me 9 months that they heard me.call/fax/call/fax and send writing regvest for who is your investor(it;s how i got mine)Good lack.

[lostnworried]

How do I request a Qualified Written Request and how does that help me? I read somewhere on this forum that requesting this information tends to make the lenders nervous resulting in action on the loans. How do I go about requesting this and is this information available on the lender's website where to send the request to? My mortgagee servicing company is AHMSI....still don't know who my lenders are.

I was trying for a HAMP modification but was told that my income does not meet the requirement which is BS since they included my husband's unemployment benefits which end in a few months. But I am now hoping for a traditional modification if I can get it. It is frustrating that we are trying our best to meet the lender halfway and they are just ignoring us.