CW/NACA Experience SUCCESS!!

[sarge]

I hear ya. You have to know that they will most likely use anything to cancel the mod and hard to believe you could do better than you have here. You don't want to start over either. Hope you get the answers you need tomorrow am.

[emorybetsy]

OH denised, I was so excited when I heard you got the docs back finally, it just never ends! I would NOT sign and notarize any document that you don't agree with, and hope these morons fix it. Could you get a consultation with a real estate lawyer before you do this? I would be afraid that you would be legally bound to this contract. Do you have a BoA branch near you, maybe you could go there in person and see if they have any better luck getting an answer? Good luck, I am sending you good vibes!

[giantsfan]

denised, we started in january but they kept losing our paperwork and we had to keep refaxing. then they constantly wanted new paycheck stubs. we still don't know why because our checks our the same every pay period, they never change.

[denised]

Originally Posted by giantsfan

denised, we started in january but they kept losing our paperwork and we had to keep refaxing. then they constantly wanted new paycheck stubs. we still don't know why because our checks our the same every pay period, they never change.

Geez this is never ending isnt it?! Im sorry to here you are going thru this !!!

[denised]

Originally Posted by sarge

I hear ya. You have to know that they will most likely use anything to cancel the mod and hard to believe you could do better than you have here. You don't want to start over either. Hope you get the answers you need tomorrow am.

Thanks all!

So BofA advocacy will not talk to me. NACA responded this AM with the following:

As I explained before the interest amount is made up of several different amounts. This can be unpaid/ unapplied payments, delinquent interest/fees incurred, delinquent/ current taxes and insurance or any other fees that lender has paid on your behalf. Unfortunately, I am not provided with a breakdown of what each charge is, so that is the best explanation that I can provide you.

As far as your May payment is concerned, you would begin making your payment based on the first due date which is July 1, 2009. They have included the payments for May and June into the "interest amount" mentioned above.


So Im kinda in the same boat....
I am asking her if she can call B of A to get a breakdown of charges..someone has also mentioned in this forum that lender paid taxes and insurance and that is why they had that added on but Im still not adding up to 20k!

[denised]

So I never got a breakdown of this interest and sent in out fedex w saturday delivery today anyway. I just cant take it anymore I dont care!

Im losing it....

I talked to NACA past few days trying to figure out what this extra interest was and I was told last night by one of their reps that I should feel lucky that I got this far this fast.
He said why would 19k stop you at this point your going to save so much anyway.
I also asked about the mention of contingent upon title insurance blahblahblah..
He couldn't tell me for sure what to send regarding the title insurance and basically yelled at me for not knowing what it was.
I almost started crying especially when he told me that its possible that I send this to CW and if something isn't right they prob have the wording in there to back it out and that it is probably a once in a lifetime opportunity.
I told him I KNOW that is why I am trying to get this all accurate.
Now it is sent and I have done the best I can so OH WELL. Im about ready to explode and you would think it would be the opposite since I was approved. I guess not until it is a done deal can we say that right?

He talked to his supervisor about the interest and sup said for him to send a message to cw. He then told me call back tomorrow and see if there is an answer. He also said I need to call in anyway to tell them I approve the offer.
First time I had heard of that.
So I call into today and got a different guy. He tells me he doesnt know what that guy was talking about and to wait a couple of weeks to get an answer about the interest.
That is when I calmly said thank youfor your time and went to fedex and now its out of my hands.
sorry venting........
just so hard now im stuck between BofA and NACA neither of them can tell me what to do for the last step. Oh well its sent and now lets see how far we get
I havent made the MAY payment and was told by NACA not to so I am not. Hope that doesnt bite me in the you know what....ok im done for now
Thanks again for this Forum! I would be on the streets by now!

[Cassietw]

Hang in there Denised! I really believe all things happen for a reason and something good is coming for you!

[dthom]

That's what we are all here for, Denised. A place to vent, laugh, cry. All so we don't go crazy waiting for it all to be said and done. I think here a virtual hug is in order,so consider it done

[sarge]

Wow! I know you are elated to finally have this thing done and sent in too. I also know you are confused as well to not know where the extra 19k is coming from,whether this is done right and why can't the answers be black and white. I wondered how it went today and I will echo dthom and stretch the virtual hug across this land from my coast to your coast. I wish you the best and hope this works out in the end.

[CW California]

I, too, have anxiously been reading your thread daily to know what the $19,000 is. Dang!

[denised]

Thanks guys! Hugs back!
I feel kinda dumb that I actually sent in the paperwork not knowing what the monies are but I just couldn't lose it.

I see it has been delivered today at 9:10am.....here we go!
Thanks again everyone for the nice words!

[Cassietw]

Hi Denised. I was thinking about the 19K. I think if it is wrong...after the mod goes through and is a complete "done" you could ask for an audit and it could get corrected. If my mod goes through the way NACA proposed I would save almost 14K in the first year of interest only payments....and I was thinking, if the situation was different and things weren't upside down and you were able to re-fi, you could end up with close to 19K in closing costs to do a re-fi anyway. My last re-fi cost me a little over 17K.

I am wishing the best for you. I hope they made a mistake and it will all get corrected before you know it!

Virtual Hugs too....to everyone!

Cassie

[denised]

YES that is exactly what we were thinking when we didn't get an answer. If we would have refied we would have been charged this much almost anyway!
plus the savings is BEAUTIFUL.

[denised]

You know what is funny....we tried to Refinance w B of A last fall and got denied.
Now if all gets done we will be with B of A and a lower affordable rate.....

funny how that works out ...

[Cassietw]

I have banked with B of A since 1988. I have never even so much as been approved for a credit card. Now I have our home and our accounts with them. Kinda scary. I hope they don't try and take money from our accounts to pay for the mortgage. (not that there is anything for them to take though) I am officially late now for the first time ever. And you know what, when I made the decision to not pay and catch up on utilities and such and decided that somehow in the end this will all work out, I felt so much relief! I think my thinning hair might start growing back! I hope! This day came and I am ok with it.

[denised]

I hope so too! haha

You know we will look back on these days and be glad it is all over!

[CW California]

Denise
Isn't it ridiculous that with everything you've been thru not one person can give you a break-down of the documents you are signing? Sounds like a TILA violation to me........

[denised]

I know its like we have gone this long with all the sending in of documents, phone calls, waiting with frustration for each call and finally the end is here and no details!

[luisren]

Originally Posted by denised

I know its like we have gone this long with all the sending in of documents, phone calls, waiting with frustration for each call and finally the end is here and no details!

So glad it will be over. I have my fingers crossed that the 19k is a simple oversight and will get corrected. My 10k in interest was 2 months + late fees + escrow.

[denised]

What is the escrow for?

[CW California]

Escrow is for property tax and insurance. For instance, if taxes are 2400 a year, then they would escrow 200 a month in order to have the money there to make the property tax payment when it comes due.

[denised]

yea i tried adding taxes and 2 months payments but still doesn't = 19.....

[luisren]

Originally Posted by denised

What is the escrow for?

Taxes, they were not paying it before but now are. I don't mind that at all..

[rozuki]

Denised,

I have read all of your thread....my god, so frustrating!! But here's a thought...doesn't BofA have to provide a settlement statement when they send the actual mortgage paperwork? That should spell out what the 19k is for......I know CW charged me 21k for my refinance in 2007....and the settlement statement listed all the fees and who got what - even though it was highway robbery if you ask me!!!

[denised]

You mean it should have come with my mod docs?
wow 21k for refi?!?! I think the last time I was trying to refi they wanted about 14k or so.....