NACA/CW Success Yippee!!!

[Moe Bedard]

Most of the large servicers work with a non profit closely to offer help to their customers who need the extra assistance with the papework and Countrywide works with NACA.

[tandknix]

If it will help us, I am willing to do the leg work.

[Moe Bedard]

Good Luck............I hope they are able to help.......

[tandknix]

I just wanted to pop in and give everyone an update. We went to the NACA workshop and yesterday had out intake appointment with our NACA couselor. She took all of our info and got it all scanned into their system. She said they have a good relationship with Countrywide and that she was hopeful for us. She was a wonderful woman and helped us understand a few things that we were confused about.

She instructed us not to sign the first mod that Countrywide sent us because "it's a band-aid" and that we would be in the same spot next year. She's right and we know that so now we are really glad we broke down and decided to call them. we first hear about them in February and have heard about them a few times since then.

I figure when I read about them yet AGAIN here in these forums that this was God's way of slapping us upside the head! Thank you GOD! Will you please keep us in your thoughts and prayers?

[tandknix]

HELP ME PLEASE!

I am panicing. We just got papers in the mail from a local debt collector about our house. I called NACA and our couselor said that it probably came from Countrywide and that I should call them and tell them we are working with NACA. So I did and spoke with Angela in the Heart Department.

SHE said that we should have signed the first loan mod papers. I explained that we couldn't afford the new payment and would be in the same position within 6 months. SHE then basically said that our rate hasn't even adjusted yet and that we KNEW the interest rate was 10.45% to start with. I explained that while, yes, we understood the rate and payment when we purchased the house last year we didn't foresee the RECORD rain here in TX and my husbands HUGE decline in income and that now we needed help. SHE said that the first mod was the only one the investors would offer us and we should have taken it.

What can I do? I have called my NACA counselor back and left a message because she is in a session. She is good about calling us back, but I am REALLY worried. WHAT CAN I DO? Who do I call? EMAIL? FAX? At this point, I DON'T CARE! I just don't want to lose my home.

[tandknix]

Oh! AND she also told me that we have a sell date on the house of November 11.

[tandknix]

Can you please read my hardship letter and give me possible thoughts or ideas? I am fixing to start emailing it to every Countrywide email address I have found:

To Whom It May Concern:

I am writing this letter to explain our unfortunate set of circumstances that have caused us to become delinquent on our mortgage. We have done everything in our power to make ends meet but unfortunately we have fallen short and would like you to consider working with us to modify/reconstruct our loan. Our number one goal is to keep our home and we would really appreciate the opportunity to do that.

The main reason that caused us to have a hardship and to be late is my husbands decrease in work. Soon after being late and our income not being nearly enough, we have fallen further and further behind. Now, it’s to the point where we cannot afford to pay what is owed to Countrywide. It is our full intention to pay what we owe. But at this time we have exhausted all of our income and resources so we are turning to you for help.

Our situation has got better because work has slowly picked back up and we feel that a loan modification would benefit us both. We would appreciate if you can work with us to lower our delinquent amount owed and our payment so we can keep our home and also afford to make amends with Countrywide.

We truly hope that you will consider working with us and we are anxious to get this settled so we all can move on.

Sincerely and Respectfully,

Mr. & Mrs. Tommy Nix
Signature:
Loan #: xxxxxxxxx
Address: xxx Hope Lane
Phone: 903-xxx-xxxx

[tandknix]

Or this one:

September 12, 2008

To Whom It May Concern:

We have done everything in our power to make ends meet but unfortunately we have fallen short and would like you to consider working with us. Our number one goal is to keep our home and we would really appreciate the opportunity to do that.

The main reason we have become delinquent is our decrease in income. Last July when we purchased our home we put all our savings towards the %15 down ($24,600) that Countrywide required. We thought we would have enough time to save up again before the cold weather set in. Tommy works in construction and we had not planned on the record Texas rain of last year to keep us from our goal. We made our first few payments but the weather soon became worse and we knew we were in financial trouble. We called Countrywide to let them know what was going on and see if there was anything we could do. They told us at that time there wasn’t anything they could do for us and that we just needed to find a way to make up the payments. We missed 2 payments before I contacted Countrywide again. They suggested at that time we do a loan modification. We submitted all the paperwork they requested, but were denied. We did the best we could and continued to make a payment each month. With the late fees tacked on our payment due each month went from $1565 to $1716. This payment has been very hard for us to pay. Tommy’s work has yet to pick up and we missed our third payment in August. We are terrified that come winter we will lose our home because we cannot afford to make the payments.

We contacted Countrywide and asked for help once more. They took our information and assured us they could help this time. We waited on our loan modification documents thinking that they would lower our interest rate from the 10.45% and give us a Fixed loan instead of the ARM we were originally given. They lowered it to 10.375% ARM. It is fixed for 5 years with this modification. However, the payment has gone up to $1603. With the winter months approaching we are doubtful we can manage this payment and will be looking at this same situation next year.

We have exhausted all of our income and resources so we are turning to you for help. We feel that lowering our interest rate and obtaining a Fixed mortgage will make the difference for us.

We truly hope that you will consider working with us and we are anxious to get this settled.

Sincerely,

Tommy & Kimberly Nix

[tandknix]

Our NACA counselor just called me back and said that she is adding that date to our file and sending it over again so they know there is a date BUT since we haven't recieved any type of letter stating that we are being forclosed on that they can't just sell the house. Does this sound right? I mean if they are selling the house don't they have to tell us they are forclosing?

[tandknix]

Should I still email everyone and start calling?

[Moe Bedard]

Since you already received a modification with Countrywide that is on their file as not being accepted............you might need to continue with NACA as they have other ways of working with the investors and may be able to help.........

The 1st letter you wrote is the better of the two............is the hardship letter for NACA?

[tandknix]

The second letter was for NACA.

I just spoke with someone named Heidi at Countrywide and we are just really confused now. She updated our financials AGAIN and somehow they are still showing that we can afford the payment. Anyways, she said that we have 2 options. We can either do another loan mod which will be the same as the last OR we can pay everything we owe to stop the forclosure.

We are confused because initially we were told NOT to pay anything and when we told Countrywide that we weren't signing the loan mod and that NACA was helping us they didn't tell us we needed to make the 2 payments they previously told us NOT to make. So now we are 5 months behind. We found out today we should have made those payments, but now they won't take payments from us.

Can they offer us another loan mod? I am going to call our NACA counselor in the morning and see what she says about us signing the mod to get us caught up and THEN working with them to get the interest rate down and fixed. I think we could squeeze the payments out long enough for me to start work in January and then we will be fine.

Heidi, she's with the home retention department, said that she just needs to hear from us before the 17th so that she can get the loan mod processed and sent to us again.

Can they offer us another? I don't want to tell her to do it and THEN be told no. At this point we are just REALLY getting antsy and, to be honest, freaking out. If we have to take a bandaid, then we will. We just don't see how NACA can get our income to be one thing, but CW is showing its another. I gave Heidi the same info we gave our NACA counselor.

[Moe Bedard]

You will just have to wait until tomorrow and see what NACA tells you to do...........just explain about what CW is telling you........and also ask if you accept the CW modification how long would you have to wait until you would be able to apply for another one even with NACA............just to be sure.


Please keep us posted on how it goes.

[tandknix]

I contacted our NACA Couselor. She seems to be on top of things. She has sent emails to the Boston NACA office to get our sale date postponed and emailed the investor who has our file. She copied me on this email so I know she sent it. She apologized for contacting her before the 30 day limit, but she wanted to get input from Countrywide. She basically told her what was going on and that we were really nervous and wanted to know what she thought we needed to to (i.e. should we go ahead with the loan mod or can we work with NACA).

I think her real purpose was to get Carrie, the investor she sent the email to, to look at our file now as opposed to later. So we are waiting to hear back from her.

[Moe Bedard]

I do hope they are able to help so that you will be able to take advantage of NACA's mod offer.

[tandknix]

I agree ***. We are just stressed and worried that we won't be able to get it done. If they don't accept NACA's proposal then we need enough time to get the mod and get it signed. That's what we really are worried about. Not having enough time.

Our NACA couselor assured us that they do postpone sale dates so she is getting that done right now. I will feel much better if she can get that date pushed back to the Beginning of December instead of November.

It's just hard for us to know what to do when the Countrywide rep is telling us that our only option is their loan mod. We feel pushed and pressured. Is that normal?

[Moe Bedard]

they have timeframes that they need to adhere to for the investor that they work for.................I know it is stressful.............try to hang in there.....

[tandknix]

Well, we have decided to wait until Monday for a return e-mail. If we do not get one by then we are going to call Heidi and ask her to get the loan mod together and sent to us. We just can't take this stress.

[MRC123]

Any updates? We are also working with NACA. We are not as far a long in the process as you, but will be soon.

[tandknix]

*sigh* no change so far. We haven't gotten a response from the central NACA office in Boston yet. I contacted OUR NACA couselor this morning via email to see if she had hear anything:

ME:

Have you heard anything back yet? Please let me know. I will call you later.

NACA (Charlotte):

I am sorry I have not heard anything on your file. I have copied you on the e-mail so we both will get the communication at the same time.

ME:

Thanks, I thought maybe someone had called you. Have you dealt with this type of situation before? The Countrywide rep said that forclosures in Texas are fast so that's what really has us worried. We still haven't gotten any type of letter stating that they are selling the house on the 4th.

Charlotte:

Yes, we deal with this everyday. As I stated previously I have put the sale date in the system and someone in our home office in Boston will address trying to stop the foreclosure until we have an opportunity to work with Countrywide.

We are really trying to be patient and we are hoping all the news we have heard about BofA will really swing things in our favor.

We sat down and talked it out and decided that IF they, come right down to it, they won't give us the loan mod and NACA doesn't work we will file Chapter 13 to keep our home. We don't have much debt: 1 CC, 1 motorcyle, 1 mortgage, and the utilities. We just need some help now and for someone to give us the corrent information.

Is there anything you guys would advise us to do? IF this were you, what would you do? Would you wait on NACA or would you go ahead and try to get another loan mod from Coutrywide?

[tandknix]

I just read this about the settlement BofA signed:

Countrywide mortgage servicing personnel will be equipped to serve eligible borrowers with new program elements by December 1, 2008 and will then begin proactive outreach to eligible customers. Foreclosure sales will not be initiated or advanced for borrowers likely to qualify until Countrywide has made an affirmative decision on the borrower's eligibility.

SO, I think I am going to call Heidi tonight at CW and see what this means for us and if ours will be frozen also. Pray for us please guys.

[tandknix]

I called Countrywide Home Loans this morning and was unable to get transferred to Heidi because the extension number that she gave to us only identified her in their computer system as the person we spoke with the last time we called. SO I spoke with Melissa who was very nice and helpful also.

She told us that we DO qualify for the new settlement taking affect on December 1. and that the Heart Team has already repulled our file. They are working on another loan mod for us and that we should be getting that within the next 10 days, but that they are backed up so it may take a little longer. She said they also have us as working with NACA which we should continue to do.

We have to call back on October 21 to formally postpone the sale date. She said that she couldn't put a postponement into the computer until 2 weeks before the sale date and since we have 3 options open for us to save our home at this point, we definitely qualify to have the sale stopped. *whew*

This will give us enough time to continue to work with NACA and see how CW is willing to help us.

Please continue to pray for our family and we will continue to pray for everyone here also.

[tandknix]

Okay, I called back today to officially postpone our sale date and was told that our house had no sale date and that it is not in forclosure. It is with the workout department which is where it should be.

I got placed on hold twice and called back several times just to double (quadruple) check and make sure this was correct information.

I am going to call back in a few days and keep checking on it.

[Moe Bedard]

Kim,

You can also check with the county as well............

[tandknix]

Thanks for the advice ***...who or what office would I contact?