NACA/CW Success Yippee!!! - Page 4 - Loan Modification Forum

tandknix · 12-12-2008, 10:30 AM

YIPPEE...HOORAY! YIPPEE...HOORAY! YIPPEE...HOORAY! YIPPEE...HOORAY! YIPPEE...HOORAY!

Anyone here have to watch Dora 24/7 like me? Well I am ready to do the "We did it, we did it, we did it, yeah!" dance! Why, oh why you ask?

NACA emailed us this morning. CW didn't accept their original offer, BUT they counter offered with:

5.35% FIXED for the remainder of the loan! Our payments will be $1189 total with taxes and insurance rolled in each month.

There is nothing down for us. They are rolling the missed payments onto the back of the loan (which made our payment higher).

We immediately told NACA we accepted. They contacted CW again and told them we accepted. CW is FedEx'ing the docs to us. We are to fax them to NACA so our couselor can look them over for us (to make sure nothing is wrong). We then sign, notorize, and mail back! YIPEE! Tears of joy!

NACA IS SLOW, BUT I HAVE NO DOUBT WE WOULD NOT HAVE GOTTEN THIS OFFER WITHOUT THEM.

Keep at it Gray! You filed with NACA shortly after we did so you should be seeing yours soon. I will let everyone know when the docs get here!

YIPEE! I AM GOING TO BE SKIPPING ALL DAY!

I will also continue to pray that this doesn't just *poof* go away on us!

YIPEE!!!

Moe Bedard · 12-12-2008, 11:24 AM

Congratulations!!!!

With NACA they are slow because the investors are the hold up on approving and signing off on the modifications because the NACA modification proposals are low rates usually below market rates and fixed for the life of the loan..................NACA works really hard to negotiate with the investors.......
so it is definately worth the wait for their modifications........

P.S. the thread title is changed.......

mgaud123 · 12-12-2008, 11:25 AM

congratulations! We submitted with NACA September 11 and are still waiting, when did you submit with NACA?

tandknix · 12-12-2008, 11:30 AM

***: Thanks for changing the title of my thread! Within the week this will be a true success! All we have to do is sign the loan mod paperwork after it's been looked over and send it back! NACA's original proposal was for us to have a 2.48% Fixed rate for the life of the loan. I felt at the time that our counselor was low balling it and I think I was right. They counter offered with exactly what we were looking for!

Mgaud: We submitted around September 26th? It was towards the end of the month. Right after we got the first loan modification offer that we REALLY couldn't afford! Have you contacted NACA at: 888-302-6222 to get the status of yours? I also have been calling CW off and on since about October 27th asking them for updates also. I don't know if it got mine done any faster...

mgaud123 · 12-12-2008, 11:48 AM

Thanks! We have contacted CW and have a negotiator but they will not speak to use only NACA. NACA said they keep requesting updates. The thing is our rate just reset Dec 1st and we have paid late but are current. We are maxed out but I feel because we are current it is going to take longer. I will try that number, thanks! and again congratulations!

tandknix · 12-12-2008, 11:54 AM

Yeah, being up to date on your payments seems to slow down the process for some reason. We couldn't make our August payment and it went downhill from there for us.

gray517 · 12-12-2008, 12:41 PM

Great news tandknix

I hope our's is coming up shortly we submitted on 10/6. I do know from my conversation yesterday with cw that a negotiator has been assigned to the naca proposal, but naca has not gotten any word from Cw. our loan shouldn't be to hard to modify seeing how Bank of America is my investor. please let me know how it goes when u get the docs and thanks for letting me know naca does work!

gray517 · 12-12-2008, 03:39 PM

tandknix, just got off the phone with naca, cw accepted our naca proposal. I called them for update after reading your post, and they told me the proposal was approved and that cw sent docs to us. i posted on my thread

CW & Naca

YAHOO!

tandknix · 12-12-2008, 04:31 PM

Happy happy dance!!! Yipee gray!!!

melissasue44 · 12-12-2008, 07:34 PM

I was supposed to go to the meeting with NACA tomorrow, but I have to help my daughter move. How long have you been working with NACA? How long did you have to wait.

You are most deserving for a CONGRATULATIONS!! MERRY CHRISTMAS!!

I am so happy for you and I don't even know you. Good Luck to you and Have a Very Happy New Year!!

tandknix · 12-13-2008, 12:23 AM

Melissa,

I would recommend you go ASAP. Both myself and Gray (another LoanSafe member) started the NACA process around the end of September/beginning of October. It takes easily 60-90 days after you get to them all your paperwork. You go to the class and the set up an appointment to come in and see a couselor. We did our Saturday cl**** called Monday and set up a meeting for Wednesday. Meet Wednesday, needed more bankstatements since DH is self-employeed. Got bankstatements in to NACA on Friday. They got them processed that day and sent it off to CW. It took over 60 days to get this mod.

It is a long waiting process but NACA has an agreement with CW so they try really hard to help all NACA individuals. It's definitely worth it.

gray517 · 12-14-2008, 11:04 AM

I did my submission online and had a phone counseling session, then sent in paystubs. when you do it online you schedule your phone appointment. it does take a while for the process and then another 60 days for the proposal to be reviewed by your lender. Hey tandknix, let me know when you get your docs, naca said cw sent them, but i called cw and she had no clue what I was talking about (as ususal, thier reps are clueless) holding my breathe till docs actually arrive. at least we got the news from naca, makes it more credible than if it came from cw

tandknix · 12-15-2008, 09:10 PM

Haven't received any docs yet, but when I log into my CW account this message is posted now:

Quote:

Workout Status Details:	Your Loan Modification has been approved, and all collections activities have been suspended as a result of this approval. Next steps will include a call from a workout negotiator who will explain the terms and options of your approved workout including all conditions required for the final completion of the workout, such as upfront funds. You will also receive a package of documents in the mail. These documents are time sensitive and must be signed, notarized and returned to us in 10 days, including any required upfront funds. If you have not received your workout package and/or a phone call from your negotiator by 01/15/2009, please contact us. Please do not call back before 01/15/2009 as that may delay the process. Please respond promptly to any calls or requests that you may receive from us during this time period. Lack of response will cause your workout to be delayed or cancelled. Thank you.
Information as of:	12/11/2008
Workout Stage:	Approved

gray517 · 12-15-2008, 09:17 PM

tandknix
I just checked my online account, still says the same thing as before that both mods are in process and under review. did you have 2 workout mods posted on your account or just the naca one? my account shows 2 mod attempts currently in process, the naca one from october and the 12/1 from november. happy but skeptical till i actually have docs.

tandknix · 12-15-2008, 10:42 PM

I don't think a negotiator has to contact me? But I will wait and see...I will keep everyone posted!

tandknix · 12-15-2008, 11:24 PM

Mine doesn't say anything about NACA...does your specify that one is from NACA?

gray517 · 12-16-2008, 09:00 AM

no, it just says account under review, and status says refered, when i called they said it was the naca submission, I also have another for 12/1 thing that says under review status says active processing. just nervous, I got my naca approval over the phone. the whole approved not approved yada yada, that others have gotten, makes me nervous. did naca tell you when you would be getting your docs to sign? gonna call naca today just to verify that someone didn't give me wrong information.

gray517 · 12-16-2008, 09:56 PM

ok, i verified today with naca's online chat about the approval by CW, docs were supposedly sent out on 12/10 by cw, did u get yours yet tandknix?

tandknix · 12-16-2008, 11:16 PM

I haven't gotten mine yet. I will make phone calls tomorrow and start asking questions. I mean NACA emailed me varification and everything. They contacted CW that I accepted so I should be getting the paperwork soon. Although the weather here has been pretty bad for TX. Would bad weather hold FedEx back?!?!?!

gray517 · 12-17-2008, 12:40 AM

it could, i know fed ex ground from california to florida (where i am) takes 5 days. and it depends on when they actually were sent out to. the naca rep told me today, proposal was sent out to me on 12/10 she thinks via fed ex but it is not documented how they were sent so she wasn't sure. just in case my docs didn't actually get put in fed ex on wed 12/10 and with the holiday rush could delay things. will give it till friday to allow for weather, mail delay etc.

tandknix · 12-17-2008, 06:17 AM

Hmmm...good point Gray. I will still contact NACA today to see if they have any further info. Until I have docs IN my hand I am going to continue to pester 'em!

hyacinth · 12-17-2008, 03:29 PM

Congrats on your proposed modification. Other than a fixed interest rate did NACA get a principal reduction with your modification as well?

tandknix · 12-17-2008, 06:31 PM

Hyacinth,

We didn't even ask for a principal reduction because our home still appraises fairly high. We actually owe what it is worth so I am sure they wouldn't approve a principal reduction. You might ask when you speak with NACA. I am sure they could tell you!

gray517 · 12-18-2008, 08:22 AM

T
any news on your docs? Naca told me this am 2-3 weeks for docs to come from cw. Happy

about approval, but still anxious

till I actually see the docs.

tandknix · 12-18-2008, 08:52 AM

Gray,

I contacted NACA this AM and for the first time talked to someone who sounded unsure of what they were talking about. Maybe he was a new hire!?!? No idea...anyways he sees the approval and about an hour ago they got an update that the docs were being mailed out. SO they weren't mailed out last week like I thought they had been either. He didn't say anything about 2-3 though...he stated that he was going to request another update from CW. So I am still waiting too...at least they aren't saying "Mod? What mod?"

12-12-2008, 10:30 AM	#76 (permalink)
tandknix Senior Member Join Date: Aug 2008 Location: Texas Posts: 204 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	re: NACA/CW Success Yippee!!! YIPPEE...HOORAY! YIPPEE...HOORAY! YIPPEE...HOORAY! YIPPEE...HOORAY! YIPPEE...HOORAY! Anyone here have to watch Dora 24/7 like me? Well I am ready to do the "We did it, we did it, we did it, yeah!" dance! Why, oh why you ask? NACA emailed us this morning. CW didn't accept their original offer, BUT they counter offered with: 5.35% FIXED for the remainder of the loan! Our payments will be $1189 total with taxes and insurance rolled in each month. There is nothing down for us. They are rolling the missed payments onto the back of the loan (which made our payment higher). We immediately told NACA we accepted. They contacted CW again and told them we accepted. CW is FedEx'ing the docs to us. We are to fax them to NACA so our couselor can look them over for us (to make sure nothing is wrong). We then sign, notorize, and mail back! YIPEE! Tears of joy! NACA IS SLOW, BUT I HAVE NO DOUBT WE WOULD NOT HAVE GOTTEN THIS OFFER WITHOUT THEM. Keep at it Gray! You filed with NACA shortly after we did so you should be seeing yours soon. I will let everyone know when the docs get here! YIPEE! I AM GOING TO BE SKIPPING ALL DAY! I will also continue to pray that this doesn't just poof go away on us! YIPEE!!!

12-12-2008, 11:24 AM	#77 (permalink)
Moe Bedard Founder Join Date: Aug 2007 Location: Southern California Posts: 16,887 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: NACA/CW Success Yippee!!! Congratulations!!!! With NACA they are slow because the investors are the hold up on approving and signing off on the modifications because the NACA modification proposals are low rates usually below market rates and fixed for the life of the loan..................NACA works really hard to negotiate with the investors....... so it is definately worth the wait for their modifications........ P.S. the thread title is changed....... __________________ Moe Bedard Founder LoanSafe.org "America's #1 Home Loan Forum" LoanWorkout.org "America's # Loan Modification Blog" Get My FREE Loan Modification E-Book \| Please donate to LoanSafe.org \| Loan Modification Training For Attorneys \| Rate Your Mortgage Servicer The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Please Read our Privacy Policy and Legal Disclaimer Here.

12-12-2008, 11:25 AM	#78 (permalink)
mgaud123 Senior Member Join Date: Oct 2008 Posts: 58 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: NACA/CW Success Yippee!!! congratulations! We submitted with NACA September 11 and are still waiting, when did you submit with NACA?

12-12-2008, 11:30 AM	#79 (permalink)
tandknix Senior Member Join Date: Aug 2008 Location: Texas Posts: 204 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: NACA/CW Success Yippee!!! ***: Thanks for changing the title of my thread! Within the week this will be a true success! All we have to do is sign the loan mod paperwork after it's been looked over and send it back! NACA's original proposal was for us to have a 2.48% Fixed rate for the life of the loan. I felt at the time that our counselor was low balling it and I think I was right. They counter offered with exactly what we were looking for! Mgaud: We submitted around September 26th? It was towards the end of the month. Right after we got the first loan modification offer that we REALLY couldn't afford! Have you contacted NACA at: 888-302-6222 to get the status of yours? I also have been calling CW off and on since about October 27th asking them for updates also. I don't know if it got mine done any faster...

12-12-2008, 11:48 AM	#80 (permalink)
mgaud123 Senior Member Join Date: Oct 2008 Posts: 58 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: NACA/CW Success Yippee!!! Thanks! We have contacted CW and have a negotiator but they will not speak to use only NACA. NACA said they keep requesting updates. The thing is our rate just reset Dec 1st and we have paid late but are current. We are maxed out but I feel because we are current it is going to take longer. I will try that number, thanks! and again congratulations!

12-12-2008, 11:54 AM	#81 (permalink)
tandknix Senior Member Join Date: Aug 2008 Location: Texas Posts: 204 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: NACA/CW Success Yippee!!! Yeah, being up to date on your payments seems to slow down the process for some reason. We couldn't make our August payment and it went downhill from there for us.

12-12-2008, 12:41 PM	#82 (permalink)
gray517 Senior Member Join Date: Nov 2008 Location: Florida Posts: 627 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: NACA/CW Success Yippee!!! Great news tandknix I hope our's is coming up shortly we submitted on 10/6. I do know from my conversation yesterday with cw that a negotiator has been assigned to the naca proposal, but naca has not gotten any word from Cw. our loan shouldn't be to hard to modify seeing how Bank of America is my investor. please let me know how it goes when u get the docs and thanks for letting me know naca does work!

12-12-2008, 03:39 PM	#83 (permalink)
gray517 Senior Member Join Date: Nov 2008 Location: Florida Posts: 627 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: NACA/CW Success Yippee!!! tandknix, just got off the phone with naca, cw accepted our naca proposal. I called them for update after reading your post, and they told me the proposal was approved and that cw sent docs to us. i posted on my thread CW & Naca YAHOO!

12-12-2008, 04:31 PM	#84 (permalink)
tandknix Senior Member Join Date: Aug 2008 Location: Texas Posts: 204 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: NACA/CW Success Yippee!!! Happy happy dance!!! Yipee gray!!!

12-12-2008, 07:34 PM	#85 (permalink)
melissasue44 Senior Member Join Date: Nov 2008 Location: Kentucky Posts: 39 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: NACA/CW Success Yippee!!! I was supposed to go to the meeting with NACA tomorrow, but I have to help my daughter move. How long have you been working with NACA? How long did you have to wait. You are most deserving for a CONGRATULATIONS!! MERRY CHRISTMAS!! I am so happy for you and I don't even know you. Good Luck to you and Have a Very Happy New Year!!

12-13-2008, 12:23 AM	#86 (permalink)
tandknix Senior Member Join Date: Aug 2008 Location: Texas Posts: 204 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: NACA/CW Success Yippee!!! Melissa, I would recommend you go ASAP. Both myself and Gray (another LoanSafe member) started the NACA process around the end of September/beginning of October. It takes easily 60-90 days after you get to them all your paperwork. You go to the class and the set up an appointment to come in and see a couselor. We did our Saturday cl**** called Monday and set up a meeting for Wednesday. Meet Wednesday, needed more bankstatements since DH is self-employeed. Got bankstatements in to NACA on Friday. They got them processed that day and sent it off to CW. It took over 60 days to get this mod. It is a long waiting process but NACA has an agreement with CW so they try really hard to help all NACA individuals. It's definitely worth it.

12-14-2008, 11:04 AM	#87 (permalink)
gray517 Senior Member Join Date: Nov 2008 Location: Florida Posts: 627 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: NACA/CW Success Yippee!!! I did my submission online and had a phone counseling session, then sent in paystubs. when you do it online you schedule your phone appointment. it does take a while for the process and then another 60 days for the proposal to be reviewed by your lender. Hey tandknix, let me know when you get your docs, naca said cw sent them, but i called cw and she had no clue what I was talking about (as ususal, thier reps are clueless) holding my breathe till docs actually arrive. at least we got the news from naca, makes it more credible than if it came from cw

12-15-2008, 09:17 PM	#89 (permalink)
gray517 Senior Member Join Date: Nov 2008 Location: Florida Posts: 627 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: NACA/CW Success Yippee!!! tandknix I just checked my online account, still says the same thing as before that both mods are in process and under review. did you have 2 workout mods posted on your account or just the naca one? my account shows 2 mod attempts currently in process, the naca one from october and the 12/1 from november. happy but skeptical till i actually have docs.

12-15-2008, 10:42 PM	#90 (permalink)
tandknix Senior Member Join Date: Aug 2008 Location: Texas Posts: 204 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: NACA/CW Success Yippee!!! I don't think a negotiator has to contact me? But I will wait and see...I will keep everyone posted!

12-15-2008, 11:24 PM	#91 (permalink)
tandknix Senior Member Join Date: Aug 2008 Location: Texas Posts: 204 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: NACA/CW Success Yippee!!! Mine doesn't say anything about NACA...does your specify that one is from NACA?

12-16-2008, 09:00 AM	#92 (permalink)
gray517 Senior Member Join Date: Nov 2008 Location: Florida Posts: 627 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: NACA/CW Success Yippee!!! no, it just says account under review, and status says refered, when i called they said it was the naca submission, I also have another for 12/1 thing that says under review status says active processing. just nervous, I got my naca approval over the phone. the whole approved not approved yada yada, that others have gotten, makes me nervous. did naca tell you when you would be getting your docs to sign? gonna call naca today just to verify that someone didn't give me wrong information.

12-16-2008, 09:56 PM	#93 (permalink)
gray517 Senior Member Join Date: Nov 2008 Location: Florida Posts: 627 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: NACA/CW Success Yippee!!! ok, i verified today with naca's online chat about the approval by CW, docs were supposedly sent out on 12/10 by cw, did u get yours yet tandknix?

12-16-2008, 11:16 PM	#94 (permalink)
tandknix Senior Member Join Date: Aug 2008 Location: Texas Posts: 204 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: NACA/CW Success Yippee!!! I haven't gotten mine yet. I will make phone calls tomorrow and start asking questions. I mean NACA emailed me varification and everything. They contacted CW that I accepted so I should be getting the paperwork soon. Although the weather here has been pretty bad for TX. Would bad weather hold FedEx back?!?!?!

12-17-2008, 12:40 AM	#95 (permalink)
gray517 Senior Member Join Date: Nov 2008 Location: Florida Posts: 627 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: NACA/CW Success Yippee!!! it could, i know fed ex ground from california to florida (where i am) takes 5 days. and it depends on when they actually were sent out to. the naca rep told me today, proposal was sent out to me on 12/10 she thinks via fed ex but it is not documented how they were sent so she wasn't sure. just in case my docs didn't actually get put in fed ex on wed 12/10 and with the holiday rush could delay things. will give it till friday to allow for weather, mail delay etc.

12-17-2008, 06:17 AM	#96 (permalink)
tandknix Senior Member Join Date: Aug 2008 Location: Texas Posts: 204 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: NACA/CW Success Yippee!!! Hmmm...good point Gray. I will still contact NACA today to see if they have any further info. Until I have docs IN my hand I am going to continue to pester 'em!

12-17-2008, 03:29 PM	#97 (permalink)
hyacinth Member Join Date: Sep 2008 Posts: 23 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: NACA/CW Success Yippee!!! Congrats on your proposed modification. Other than a fixed interest rate did NACA get a principal reduction with your modification as well?

12-17-2008, 06:31 PM	#98 (permalink)
tandknix Senior Member Join Date: Aug 2008 Location: Texas Posts: 204 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: NACA/CW Success Yippee!!! Hyacinth, We didn't even ask for a principal reduction because our home still appraises fairly high. We actually owe what it is worth so I am sure they wouldn't approve a principal reduction. You might ask when you speak with NACA. I am sure they could tell you!

12-18-2008, 08:22 AM	#99 (permalink)
gray517 Senior Member Join Date: Nov 2008 Location: Florida Posts: 627 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: NACA/CW Success Yippee!!! T any news on your docs? Naca told me this am 2-3 weeks for docs to come from cw. Happy about approval, but still anxious till I actually see the docs.

12-18-2008, 08:52 AM	#100 (permalink)
tandknix Senior Member Join Date: Aug 2008 Location: Texas Posts: 204 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: NACA/CW Success Yippee!!! Gray, I contacted NACA this AM and for the first time talked to someone who sounded unsure of what they were talking about. Maybe he was a new hire!?!? No idea...anyways he sees the approval and about an hour ago they got an update that the docs were being mailed out. SO they weren't mailed out last week like I thought they had been either. He didn't say anything about 2-3 though...he stated that he was going to request another update from CW. So I am still waiting too...at least they aren't saying "Mod? What mod?"

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