NACA status says "Incomplete"

[alisoncg]

I have been checking my status daily on the NACA site and all along it has said "submit to servicer" under our status. Our file was submitted to NACA on July 10th. I called today since 30 days had passed and after waiting 45 minutes to speak to a counselor I got a woman I could barely understand. I asked her to repeat herself several times and she said our file was turned over to the "negotiator" on August 7th. She told me to call back at the end of the month. Today our status says "Incomplete". What in the world does that mean????

[alisoncg]

Okay, I just checked the NACA site again immediately after writing the previous post and the 'incomplete" is gone and "submit to servicer" is back. What the heck?

[Phaedra]

Don't panic. Your file is in it's final stages. August 7-11 NACA was in Atlanta, Georgia with many lenders on site. I applied in March and went to the event on 8/8th. Before I left to meet with NACA I could see my budget, and a letter that said submitted to servicer, and my status was "submitted". I was able to meet with my lender who assigned me a negotiator. I spoke with him, he reviewed my file and said I was eligible for a restructure. The only reason he could not do it them was because I had an investor and the file had to be submitted to the investor for approval. he assured me me was sending it to the investor as we were talking.

When I got home my NACA status was "incomplete" and I could no longer see the budget & submission letter. I also checked my banks website under the workout section and they was new information dated 8/8/09. I was so concerned that something was wrong that I went back and met with NACA again on 8/9/09 and they said that either the lender or the investor had the file open and was working on it that's why it was "incomplete". The next day it was back to the original status and when I checked the workout memo there was a new note dated 8/10/09.

My negotiator stated he would have been the last stop if I didn't have an FHA mortgage with a negotiator. He qualified me financially but Gennie Mae (my investor) would have to accept the solution. If I had not had an investor the proposal NACA submitted for me would have been accepted on the spot. You are where you want to be. I hope this helps.