CW/NACA Experience SUCCESS!! - Page 8 - Loan Modification Forum

denised · 03-03-2009, 11:19 AM

OK NACA told me to call end of week to see if CW corrected their offer.
Also today I see for my 1st loan I now have the message:

This account requires special attention. Please call Countrywide Home Loans at 1-800-669-6607.

gray517 · 03-03-2009, 10:05 PM

Quote:

Originally Posted by denised

Also today I see for my 1st loan I now have the message:

This account requires special attention. Please call Countrywide Home Loans at 1-800-669-6607.

That will show up on your account if you are going thru the modification process, whether the mod is thru CW or Naca.

denised · 03-05-2009, 01:56 PM

Darn talked to NACA today and they said call next week to see if CW corrected their offer....again.
Now I'm nervous....

gray517 · 03-05-2009, 02:19 PM

just my theory here, but I wonder if Countrywide is waiting till they sign the agreement on the new housing plan to modify loans, that way they get money for doing the modifications, if so make sure your are aware of what plan they use to do your mod, as the new plan carries a provision in it to pay back homeowners who modify under the plan and stay current on thier loan an amount up to $5000 over either 3 or 5 years (I don't remember which), that will be paid to your servicer by the government to be applied directly to your principal. my fingers are crossed and I said a prayer for your denised, good luck!

denised · 03-05-2009, 03:05 PM

Thanks gray I dont have fanny or freddie so I think that doesnt apply to me?
I just asked NACA how long until CW fixes their errors:

[Visitor ] any word from Countrywide when they will correct this errors?
[ - Member Services Center] last we new within the next 2weeks

gray517 · 03-05-2009, 04:04 PM

Quote:

Originally Posted by denised

Thanks gray I dont have fanny or freddie so I think that doesnt apply to me?
I just asked NACA how long until CW fixes their errors:

[Visitor ] any word from Countrywide when they will correct this errors?
[ - Member Services Center] last we new within the next 2weeks

Actually the refinance part applies to only fannie & freddie, the modification portion is for any servicer & investor that signs up for it. here is the guidelines for the new plan

http://www.financialstability.gov/docs/counselor_qa.pdf

dthom · 03-05-2009, 04:26 PM

CW is working on our offer now, in active processing, and tonight it shows that today they received two Appraisal Reports. I joked with the NACA counselor that perhaps they could not believe how much the value of our home has dropped since 2007 when our loan with them started! I sure hope when it comes back it is for what NACA proposed. Tomorrow I am going to call and try to make a payment. NACA said they may or may not accept it, but if they don't to hold on to the money as they will most likely ask for it at the end of the process as a kind of down payment. Anyone heard of this before? Also was told to beware of them trying to get us into a different plan, and if they do give our NACA ID and tell them we are only working with NACA, but I already knew to do that from being here at LoanSafe.
Denised I hope that you finally hear that yours has been corrected. Makes me a little nervous about ours.

tandknix · 03-05-2009, 04:44 PM

dthom, NACA told us the same thing about our payments. That since CW told us to stop making payments during the mod that we should hold on to them in case they ask for them when the mod is offered. They ended up tacking around $12,000 worth of payments onto the end of our note which means we are paying interest on the interest of those payments we missed. If we had had the $$$ to send in with the mod it would have dropped the amount that was tacked on and also dropped our payment, but we were barely getting by with the money we had so payments were impossible to make/save.

If you CAN make the payment and they deny it, then I would say to save it and send it in with the mod papers.

dthom · 03-05-2009, 05:00 PM

I am defintely going to call tomorrow to make a payment, but if they won't take it, it sits in the bank until this thing is complete, hopefully sooner than later.

jrolfedrev · 03-06-2009, 09:04 AM

Called NACA today for an update and told me to call back in two weeks. Basically, CW is playing hardball asking for a budget summary which already submitted by NACA. It was pretty quick from NACA since my file was submitted 2/17/09. This is my 4th month behind my payment but putting the money aside. I just live it up to the Lord for His guidance and directions.

dthom · 03-06-2009, 04:55 PM

Cw took our payment this morning by phone, for a $20.00 fee. Never mentioned the mod at all, which was good, I was prepared to go thru the whole NACA explanation though. The first words from the rep that answered the phone after verifying who I was, were, " you are five days past due would you like to make a payment?" He was lucky I was only 5 days past due. The only reason I had it so soon this month was because of tax refund, I was able to dip into that to make up what I was short. This was one expensive day at our house. $1513 for mortgage, $20.00 to pay by phone and then nearly $300 for r/x . I really can't keep doing this much more, hope this mod goes thru and it is at least close to what NACA has proposed. Still have to pay utilities, and car insurance and car payment this month. Again, thank God we still have some tax refund money left, not much, but it will pay the utilities at least. One month at a time, thats all we can think about right now.

MP927 · 03-06-2009, 04:56 PM

Quote:

Originally Posted by jrolfedrev

Called NACA today for an update and told me to call back in two weeks. Basically, CW is playing hardball asking for a budget summary which already submitted by NACA. It was pretty quick from NACA since my file was submitted 2/17/09. This is my 4th month behind my payment but putting the money aside. I just live it up to the Lord for His guidance and directions.

I think you are right in front of me with the NACA process. So what will be the next step if CW does not like the budget summary?

dthom · 03-06-2009, 05:15 PM

Good question, since we have only had to go thru the process with NACA, and apparantly CW accepted what was sent over to them. I would call or email NACA and ask them what your next step would be. I think it would be pretty unlikely that CW would reject two budget summaries though. Our account at CW does show that CW had 2 apprasial reports on the 5th. I guess they couldn't believe that our home could have lost nearly half of its value so they got two appraisal reports. Guess they haven't been to Michigan lately.

denised · 03-07-2009, 12:35 PM

Quote:

Originally Posted by gray517

Actually the refinance part applies to only fannie & freddie, the modification portion is for any servicer & investor that signs up for it. here is the guidelines for the new plan

http://www.financialstability.gov/docs/counselor_qa.pdf

Oh thanks! I didn't know that.

Carona · 03-08-2009, 05:26 PM

We filled out an online application and scheduled a counseling appointment online as well. NACA then called and said that we would have to go to the Workshop first before they will meet with us. Is there any way around this or is it mandatory? I feel like I've researched so much stuff on this site and elsewhere that the workshop will be repetitive. But I'm willing to follow protocol, plus there is one close by. I'm just so anxious that I feel I can't wait until March 14th, which is the next workshop, to get the ball rolling. Any suggestions? Thanks.

teenut · 03-08-2009, 06:41 PM

I have a NACA office close to me, but I did everything online and via telephone appointments. I was able to schedule them onlline. Im not sure why someone called you back and said you had to go to a meeting. Were you in the homesave tab?? Unless this is something new with NACA due to their increase demand, I would go back online to the homesave tab and schedule up to 3 different phone appointments. Make sure you have completed the online application and you have your NACA id which you should get after the application is completed online. Use this id to submit all the required documents via fax or email before your phone appointment.

Carona · 03-09-2009, 02:36 PM

Thanks for your reply. They still insist on attending the workshop since one is being offered so close to our home (Oakland, Ca.) The next open one is not until March 21st and I can't bear the wait. But online it still says that we have a face-to-face appointment for Tuesday, March 10th. I wonder is we should just show up.

teenut · 03-09-2009, 04:07 PM

hmmm thats a good question. See if you can get the number to the local NACA office and call and verify the date.

ChinUp · 03-09-2009, 05:03 PM

I've been following your NACA experience and just want to say that I'm really happy for you that you're making progress. Maybe you're not there yet, but you've got some forward motion, and that's really something in this process.

I called NACA for an update on my file today and I still don't have an offer from Countrywide. I'm encouraged that in the past two weeks information from my file is showing up on the CW website. But NACA submitted my file in SEPTEMBER. I've heard "call back in two weeks" a lot.

I'm getting fairly zen about this. Maybe I had some control/patience issues to work through.

Anyways--glad that there is some progress out there and am wishing everyone the very best!!!

denised · 03-14-2009, 09:42 AM

Wow I just had the best CW rep help me.
I called to make a payment and with out even me having to ask he waived the 20 fee to make payment!!! Yahoo!

denised · 03-16-2009, 12:53 PM

Hmmmm today I able to schedule a payment online with CW. I wasn't before because I am waiting on this mod w/ NACA. I'm worried that the rep removed my modification status some how!

NACA is tooo busy to answer phones today. I hate this!

jmo1976 · 03-16-2009, 01:23 PM

Quote:

Originally Posted by denised

Hi MP927
Im not sure what is the best way to go. I personally went with CW first and when I was denied found out about NACA from this forum. I wish I could have started with NACA first since I was denied but you never know. I guess it all depends on your situation. I was basically told by CW I didnt get approved because I am still current on my payments.

Denised, I am with CW and Current with my payments I never applied to CW for a loan mod. I went straight to NACA. I am able to make aprils payment but don't know if it'll help or hurt my mod chances, any advise?

jmo1976 · 03-16-2009, 01:48 PM

Denised, is better to make CW payments over the phone or mail them in? Have you always been current with your CW payment?

luisren · 03-16-2009, 01:57 PM

jmo,

Use a method that creates a paper trail, CYA. I use my bank's bill pay feature. Even after my mod gets denied, I'll keep using this method.

gray517 · 03-16-2009, 02:22 PM

Quote:

Originally Posted by denised

Hmmmm today I able to schedule a payment online with CW. I wasn't before because I am waiting on this mod w/ NACA. I'm worried that the rep removed my modification status some how!

NACA is tooo busy to answer phones today. I hate this!

denised
what does your workout status say on countrywide's website? any changes to the status?

03-05-2009, 01:56 PM	#178 (permalink)
denised Senior Member Join Date: Jan 2009 Location: Santa Cruz County, California Posts: 391 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	re: CW/NACA Experience SUCCESS!! Darn talked to NACA today and they said call next week to see if CW corrected their offer....again. Now I'm nervous....

03-05-2009, 02:19 PM	#179 (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: CW/NACA Experience SUCCESS!! just my theory here, but I wonder if Countrywide is waiting till they sign the agreement on the new housing plan to modify loans, that way they get money for doing the modifications, if so make sure your are aware of what plan they use to do your mod, as the new plan carries a provision in it to pay back homeowners who modify under the plan and stay current on thier loan an amount up to $5000 over either 3 or 5 years (I don't remember which), that will be paid to your servicer by the government to be applied directly to your principal. my fingers are crossed and I said a prayer for your denised, good luck!

03-05-2009, 03:05 PM	#180 (permalink)
denised Senior Member Join Date: Jan 2009 Location: Santa Cruz County, California Posts: 391 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	re: CW/NACA Experience SUCCESS!! Thanks gray I dont have fanny or freddie so I think that doesnt apply to me? I just asked NACA how long until CW fixes their errors: [Visitor ] any word from Countrywide when they will correct this errors? [ - Member Services Center] last we new within the next 2weeks

03-05-2009, 04:26 PM	#182 (permalink)
dthom Senior Member Join Date: Oct 2008 Location: St.Clair Shores,Michigan Posts: 699 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	re: CW/NACA Experience SUCCESS!! CW is working on our offer now, in active processing, and tonight it shows that today they received two Appraisal Reports. I joked with the NACA counselor that perhaps they could not believe how much the value of our home has dropped since 2007 when our loan with them started! I sure hope when it comes back it is for what NACA proposed. Tomorrow I am going to call and try to make a payment. NACA said they may or may not accept it, but if they don't to hold on to the money as they will most likely ask for it at the end of the process as a kind of down payment. Anyone heard of this before? Also was told to beware of them trying to get us into a different plan, and if they do give our NACA ID and tell them we are only working with NACA, but I already knew to do that from being here at LoanSafe. Denised I hope that you finally hear that yours has been corrected. Makes me a little nervous about ours.

03-05-2009, 04:44 PM	#183 (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: CW/NACA Experience SUCCESS!! dthom, NACA told us the same thing about our payments. That since CW told us to stop making payments during the mod that we should hold on to them in case they ask for them when the mod is offered. They ended up tacking around $12,000 worth of payments onto the end of our note which means we are paying interest on the interest of those payments we missed. If we had had the $$$ to send in with the mod it would have dropped the amount that was tacked on and also dropped our payment, but we were barely getting by with the money we had so payments were impossible to make/save. If you CAN make the payment and they deny it, then I would say to save it and send it in with the mod papers.

03-05-2009, 05:00 PM	#184 (permalink)
dthom Senior Member Join Date: Oct 2008 Location: St.Clair Shores,Michigan Posts: 699 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	re: CW/NACA Experience SUCCESS!! I am defintely going to call tomorrow to make a payment, but if they won't take it, it sits in the bank until this thing is complete, hopefully sooner than later.

03-06-2009, 09:04 AM	#185 (permalink)
jrolfedrev Senior Member Join Date: Sep 2008 Location: the commie state of California Posts: 125 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	re: CW/NACA Experience SUCCESS!! Called NACA today for an update and told me to call back in two weeks. Basically, CW is playing hardball asking for a budget summary which already submitted by NACA. It was pretty quick from NACA since my file was submitted 2/17/09. This is my 4th month behind my payment but putting the money aside. I just live it up to the Lord for His guidance and directions.

03-06-2009, 04:55 PM	#186 (permalink)
dthom Senior Member Join Date: Oct 2008 Location: St.Clair Shores,Michigan Posts: 699 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	re: CW/NACA Experience SUCCESS!! Cw took our payment this morning by phone, for a $20.00 fee. Never mentioned the mod at all, which was good, I was prepared to go thru the whole NACA explanation though. The first words from the rep that answered the phone after verifying who I was, were, " you are five days past due would you like to make a payment?" He was lucky I was only 5 days past due. The only reason I had it so soon this month was because of tax refund, I was able to dip into that to make up what I was short. This was one expensive day at our house. $1513 for mortgage, $20.00 to pay by phone and then nearly $300 for r/x . I really can't keep doing this much more, hope this mod goes thru and it is at least close to what NACA has proposed. Still have to pay utilities, and car insurance and car payment this month. Again, thank God we still have some tax refund money left, not much, but it will pay the utilities at least. One month at a time, thats all we can think about right now.

03-06-2009, 05:15 PM	#188 (permalink)
dthom Senior Member Join Date: Oct 2008 Location: St.Clair Shores,Michigan Posts: 699 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	re: CW/NACA Experience SUCCESS!! Good question, since we have only had to go thru the process with NACA, and apparantly CW accepted what was sent over to them. I would call or email NACA and ask them what your next step would be. I think it would be pretty unlikely that CW would reject two budget summaries though. Our account at CW does show that CW had 2 apprasial reports on the 5th. I guess they couldn't believe that our home could have lost nearly half of its value so they got two appraisal reports. Guess they haven't been to Michigan lately.

03-08-2009, 05:26 PM	#190 (permalink)
Carona Member Join Date: Feb 2009 Posts: 15 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	re: CW/NACA Experience SUCCESS!! We filled out an online application and scheduled a counseling appointment online as well. NACA then called and said that we would have to go to the Workshop first before they will meet with us. Is there any way around this or is it mandatory? I feel like I've researched so much stuff on this site and elsewhere that the workshop will be repetitive. But I'm willing to follow protocol, plus there is one close by. I'm just so anxious that I feel I can't wait until March 14th, which is the next workshop, to get the ball rolling. Any suggestions? Thanks.

03-08-2009, 06:41 PM	#191 (permalink)
teenut Senior Member Join Date: Feb 2009 Posts: 261 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	re: CW/NACA Experience SUCCESS!! I have a NACA office close to me, but I did everything online and via telephone appointments. I was able to schedule them onlline. Im not sure why someone called you back and said you had to go to a meeting. Were you in the homesave tab?? Unless this is something new with NACA due to their increase demand, I would go back online to the homesave tab and schedule up to 3 different phone appointments. Make sure you have completed the online application and you have your NACA id which you should get after the application is completed online. Use this id to submit all the required documents via fax or email before your phone appointment.

03-09-2009, 02:36 PM	#192 (permalink)
Carona Member Join Date: Feb 2009 Posts: 15 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	re: CW/NACA Experience SUCCESS!! Thanks for your reply. They still insist on attending the workshop since one is being offered so close to our home (Oakland, Ca.) The next open one is not until March 21st and I can't bear the wait. But online it still says that we have a face-to-face appointment for Tuesday, March 10th. I wonder is we should just show up.

03-09-2009, 04:07 PM	#193 (permalink)
teenut Senior Member Join Date: Feb 2009 Posts: 261 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	re: CW/NACA Experience SUCCESS!! hmmm thats a good question. See if you can get the number to the local NACA office and call and verify the date.

03-09-2009, 05:03 PM	#194 (permalink)
ChinUp Member Join Date: Jan 2009 Posts: 13 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	re: CW/NACA Experience SUCCESS!! I've been following your NACA experience and just want to say that I'm really happy for you that you're making progress. Maybe you're not there yet, but you've got some forward motion, and that's really something in this process. I called NACA for an update on my file today and I still don't have an offer from Countrywide. I'm encouraged that in the past two weeks information from my file is showing up on the CW website. But NACA submitted my file in SEPTEMBER. I've heard "call back in two weeks" a lot. I'm getting fairly zen about this. Maybe I had some control/patience issues to work through. Anyways--glad that there is some progress out there and am wishing everyone the very best!!!

03-14-2009, 09:42 AM	#195 (permalink)
denised Senior Member Join Date: Jan 2009 Location: Santa Cruz County, California Posts: 391 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	re: CW/NACA Experience SUCCESS!! Wow I just had the best CW rep help me. I called to make a payment and with out even me having to ask he waived the 20 fee to make payment!!! Yahoo!

03-16-2009, 12:53 PM	#196 (permalink)
denised Senior Member Join Date: Jan 2009 Location: Santa Cruz County, California Posts: 391 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	re: CW/NACA Experience SUCCESS!! Hmmmm today I able to schedule a payment online with CW. I wasn't before because I am waiting on this mod w/ NACA. I'm worried that the rep removed my modification status some how! NACA is tooo busy to answer phones today. I hate this!

03-16-2009, 01:48 PM	#198 (permalink)
jmo1976 Member Join Date: Jan 2009 Location: southern california Posts: 21 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	re: CW/NACA Experience SUCCESS!! Denised, is better to make CW payments over the phone or mail them in? Have you always been current with your CW payment?

03-16-2009, 01:57 PM	#199 (permalink)
luisren Senior Member Join Date: Jan 2009 Location: Central Florida Posts: 221 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	re: CW/NACA Experience SUCCESS!! jmo, Use a method that creates a paper trail, CYA. I use my bank's bill pay feature. Even after my mod gets denied, I'll keep using this method.

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