CW/NACA Experience SUCCESS!!

[gray517]

You do not have to pay naca anything for thier home save program, it is a restructure (modification) of your existing loan. one of thier options is to refinance with them or their lender (this is like any other refinance), but that is not the home save program. as far as volunteering, no one has asked me to, nor mentioned it when I was doing my submission. there is not a naca office near me, but if they came here for a workshop I would definately help, as without them I would be stuck with a crappy ole cw temporary band-aid, or losing my home. My objective in all of this was to keep my home, I don't care that my mortgage is now $20k more than my value (we have lost $100k value in the last year) this is my home and I don't want to lose it. I was laid off in june and that started this whole mess, now we have a payment that we can afford on just my husbands pay.

[denised]

Got a call from NACA today! A lady named Tammy called and she was so nice!!
I am very hopeful. I had to resend my docs because sending by email didn't work. Meanwhile she got all my info from the submission and I just finished faxing. Im so happy to find them and this forum!!

[Moe Bedard]

that sounds good.............


Keep us posted..........

[denised]

My second loan is 10.6% and is fixed. She mentioned how that one is too high also (1st is 9.15% and set to go up in April again). Maybe they will be able to modify for both loans!? Has anyone had both loans modified?

[Moe Bedard]

through NACA I have seen that once...........but you will have to see if she is able to work on a second also.

[downandout]

***-
I used your link for the NACA website, went to the Home Save section and followed the steps, Step 2 click here for submission. While I was completing their form I found the #6 as I copied yesterday. I was not in the refi section. Plus I understand that there are several steps and all it would allow me to enter was the family information. Have you personally completed the form? Seems to not be to user friendly. I just wanted to post my experience.

[gray517]

I have completed the steps online and gotten an approval from naca, there is not any fees nor are there any 2nd or other types of notes or mortgage added by naca. their service is free, all that they ask is that you volunteer if you are able to do so,

https://www.naca.com/refinance/refinanceSubmission.jsp

[tandknix]

There is an office approximately an hour and a half from me. When we went to our counseling class and when we went to our counseling appointment we were told that we would have to volunteer 5 times per year for 5 years, but I will double check this and let everyone know

We were confused also about the fees that we read about on the site but they explained it during our class and counseling session. NEW people going through NACA to purchase a home pay membership fees that are placed into a seperate account. In the event that they fall behind and need assistance, those fees are used to help the homeowner out. NACA guarantees that all loans are approved if you go through their 6 month program so it's good for first time homebuyers...

IF you already purchased your home and are seeking NACA to contact your lender about your APR then you are asking them to restructure your loan through their Homesave Program. It is free and all they ask in return is for you to volunter to give testimony at one of their free classes or give time working in one of their offices. If there is no office (like in gray's situation) then I am assuming you are not required to volunteer...

I hope this helps!

[denised]

Having trouble with paystub copies I sent in. I can't seem to get a clear copy to them. Must be 4:30 over there so wait again until tomorrow to find out.....

[defcharge]

Who was your Mitigation specialist? I have somebody named Michael Ellis. I went to the seminar in July 2008 in Washington DC and have been getting nothing but updates such as "We are still working on your file?" One of my updates stated that Fannie Mae denied my modification because CW stated that we were on time. Which was a false claim due to the issue regarding our second loan. We also asked for a modification back in May and got a Homesaver Advance which I found it recently is not a modification. I got this from the lawyer retained by Fannie Mae for Loss Mitigation. My CW and NACA experience has been terrible... I have nothing but bad words for both of these organizations. I was told by a NACA rep just yesterday that I was supposed to tell CW that I was part of NACA and they have my file in an advocacy group. I should call the Advocacy department at CW. However, she could not give me the phone number for the Advocacy group. Just received my notice of intent to foreclose. Working on that issue now.

[Moe Bedard]

CW Advocacy Team
1-877-327-9225

[denised]

Wow! defcharge sorry to hear that! I have heard nothing but good about NACA so far.

[defcharge]

Now why did the rep on the phone from NACA tell me that I had to find out for myself what their number was for CW Advocacy team.

I may call them.. I am so angry with CW that I do not want to even talk to any of those folks.

Thanks ***...

[defcharge]

And the guy Michael Ellis is ghost!!! you cannot barely get this guy to contact you back about anything. I know they are working hard as I did find a site that explained about their working conditions but I work in customer service environment in the Information Technology field. We almost get punched out for not responding to a ticket or a customer for that matter in regards to an issue.

[mto66]

You have been working with NACA since July? Or you have been working with both since July.

I spoke with the same guy last night and he gave me different information than the woman Brenda I spoke with on Saturday, who was so friendly.

I contact the Adv Dept at CW as that is who my modification went through. The woman Nicole, who was my negotiator was very pleasant on Friday when she called and told me my loan was reduced to 8.28 and all I owed was $1850. After I reviewed my fed ex paperwork I questioned the amount that was owed. My taxes were just paid (semiannual).......they only went up 20 dollars this year (I called our town hall this a.m) and all my missed payments including escrow, late charges etc were rolled into my mortgage, which for two months totaled 7800 (my mortage even at 9.78 was only 2299/month). The additional charge was for another half year of my taxes to "ensure" that I wouldn't come up short. That was 1400. The rest were late fees etc that I owed. I couldn't get a decent explanation as to this.

Today, I emailed her and asked about whether she could verify my loan was indeed fixed at 8.28 and that I just got a statement saying it was as of 12/31. I also asked about restructuring and modifying at the same time. I explained my situation and just stated I was going through a Home Preservation organization, not stating the name. I then f/u with a call.

At this point, if I can confirm that my mort is reduced to orig rate then I may just move forward with NACA and take my chances. There are a lot of hidden fees, which outrages me!!! I understand that I am late and have no problem paying it back, but it seems like a lot more than I actually owe. And in addition, my mortgage still goes up from it's orig rate by 50 dollars, which she was unable to explain as well. I really cannot believe that this is happening and these people are doing this. If not for this forum I would have jumped at this, but now there is a bit of anger at how they are basically ripping people off. I am planning on paying my January mortgage (instead of giving them my 1850 and "skipping February to get caught up". By doing this I am only 2 mos behind and will try to make up the difference going forward.

Sorry to be so long-winded, but it truly blows my mind that nobody seems to want to help. I have been like most others and was proactive in trying to prevent this.

[defcharge]

Yes, I was at the Washington DC event in July 2008. According to them, they submitted our information electronically. So much for technology... We had received an email from Michael Ellis in November asking us to send updated paystubs. Sent those in to them and have not heard anything since that time with the exception of not bothering them until January. I figure that if all goes well with NACA I will give them a good recommendation and may even volunteer my services. But I don't see that happening if nothing comes about the situation. My question would be did anybody from the DC Event get their mortgage restructured successfully? They put a lot of effort in marketing, space rental, etc to make that event successful, it would be ashame to find out that after all of that none of the individuals that came through that even got their mortgage restructured.

[defcharge]

We have been in NACAs system since July 2008. My latest response from NACA has been that we do not have any info about your case at this time but we will submit a request in to find out the status and call us back in a week. Then we were slowly informed about the CW advocacy team...

[defcharge]

been working w/ CW since dec 2007. a lot of back and forth with no avail

[tandknix]

Defcharge...that doesn't sound right to me. Gray and I both submited our paperwork through NACA in September and have already gotten responses and restructures from CW. Each time we have spoken with ANYONE at CW we have stated that we are working with NACA. We have also been using the online NACA service to hound them about updates and stuff.

If you still don't get a satisfactory response from NACA you should probably ask to speak with someone in charge and find out exactly what is the problem. Being in limbo since July just seems to be too long...

[defcharge]

What online NACA service? The site where you are asking the chat person about the status of the loan? Who exactly do you talk to at NACA for this assistance beyond the telephone support folks? Like I said I was at the DC event and it seems that whenever we make that call we get the run around. The woman that answered the phone on this last call was getting upset with me because I told them they were ridiculous in their efforts to assist anyone. This was due to her stating to me that she was not able to give us the CW advocacy number and I would have to go out and find the number.

[defcharge]

By this time I am heated and I started saying that its ridiculous because we have been working with them since July 2008. As far as I am concerned they are not helping in our situation. We have done due diligence to work with both parties and their services has been unsatisfactory to say the least.

[tandknix]

Defcharge...yeah, we used the online chat feature because it was easier than being put on hold. Are you calling your local office or are you calling the 888 number to get the status update on your account?

[gray517]

defcharge, you may want to start your own thread with your story, so it will be easier for members to respond to you, you mentioned in your earlier post that your mod was denied by cw because your loan was current, at the time of your original request to cw and naca if your loan was current that may be why no help was given, you may need to resubmit your information to start a new file with both cw and naca, most of the mods (but not all of them) given by cw are people who are behind on payments or have had loss of income or other hardship. don't give up, we are glad we used naca, they worked great for us, part of the problem is there are so many people going through this process, when we called naca for updates they were always waiting on countrywide, that seems to be the norm when dealing with cw. take a deep breath and then start again. good luck!

[defcharge]

Called the 888 number. Also, thanks for the info.. Gray I will create a thread.

[denised]

Still not completely submitted. I have to keep scanning and sending in paystubs because they are not clear enough
Could have sent by snail mail at this point