Approved! Approved! Approved! NACA/CW SUCCESS!!

[teenut]

I just got another call fram NACA informing me that Aurthor (the rep I worked with on thursday night) has submitted my packet. Now when she says submitted, I think its for final approval by NACA as Author stated to me on thursday and not CW yet. My status online still shows as incomplete. The first stage is almost done, then its up to CW.

[gray517]

it may not mean that, it may mean submitted to cw, you need to call naca and get them to clarify, my naca status still says submit to servicer - restructure even though were are completely done with the modification

[teenut]

Originally Posted by gray517

it may not mean that, it may mean submitted to cw, you need to call naca and get them to clarify, my naca status still says submit to servicer - restructure even though were are completely done with the modification

I am going to contact them in 2 weeks like Author said and verify the status. If has been submitted already, they sure are working fast. I am still wondering about there success rate. I still wont feel like I can relax untill its done! I would just be happy to have it fixed at the rate of 7.25 before the adjustment. Just meet me half way!

[luisren]

teenut, same here. NACA seems to be working fast for me too right now. I got the NACA proposal on 2.8.09. The status then went to submit to servicer - restructure on 2.9.09. From what I can tell all the submitted documents posted to the CW website on 2.13.09. Also, NACA told me to call them in 30 not the usual 60-90. When I asked, just to make sure, she said 30 - 60 days to completion.

[luisren]

Of course, now its in CW/Investor's hands so they will more than likely delay the process. Can't blame NACA for that...

[teenut]

Originally Posted by luisren

teenut, same here. NACA seems to be working fast for me too right now. I got the NACA proposal on 2.8.09. The status then went to submit to servicer - restructure on 2.9.09. From what I can tell all the submitted documents posted to the CW website on 2.13.09. Also, NACA told me to call them in 30 not the usual 60-90. When I asked, just to make sure, she said 30 - 60 days to completion.

Luisren,
When you say "I got the NACA proposal" does that mean they send a copy to you too??

[luisren]

Originally Posted by teenut

Luisren,
When you say "I got the NACA proposal" does that mean they send a copy to you too??

Sorry, I meant I got it verbally... During the last set phone appointment I had with them they went over the terms of the proposal to CW. 6% fixed for 30 yrs, monthly payments with and without taxes and HOI etc.. She then told me it should take around 30 days to complete. I then replied "30 and not the normal 60-90 that I've been reading about? {fake laughs}" She then replied "it may actually take less than 30 days given the investor (she knew who) but lets say 30-60 and call us for a status in 30 days or so." I was like wow, seems a lot quicker than the normal turnaround times I've been reading about. She then said that their "process" is much better and faster now but really its still up to the investor and CW. She then gave me a number to call for a status check (888) 302-6222 and then explained how I should keep communications with CountryWide but that I should notify them before I sign or respond to any CW request or contracts..

[teenut]

oh o.k. I see what your saying now. I have yet to contact CW to let them know that I am working with NACA. Have you told them yet?? It seem as though some NACA reps are better at relaying information than others. Or is it just that I am not asking the right questions. My rep just told me to contact them in 2 weeks to make sure it was submitted then to start contacting CW every 2 weeks for the status. So I guess thats about the same info you got. I checked CW today and it says nothing about my NACA proposal but I figured that because I just completed it on the 12th. It does however state 2 different modifications that show cancelled borrow didnt qualify. I only know of one that I applied for. One has a date of 2/3 and the other 2/9. That place is such a mess! But of course when you call you cant get any information.

[Moe Bedard]

teenut,


When you are working with NACA through CW, the dept. that you would need to be contacting is called the Advocacy Team.........they are the dept. in CW that handles the non profit organizations and their modification proposals.............not Home Retention.............you would need to call the Advocacy Team and give them your NACA ID # so that they can help you and let you know any updates on your NACA file......
CW Advocacy Team
1-877-327-9225

[teenut]

Thanks ***. I do see that in a previous reply. I will contact them tomorrow.

[teenut]

What in the world is going on. Ok I previously wrote that when I checked my account online today. There was 2 modifications that stated cancelled because borrower did not qualify. When I got home from work today low and behold is a FedX envelope from CW. Its modification documents. I am confused and I know that CW is very, very confused so its no use asking them about this. Anyway the modification is a great big joke!! We have an adjustable rate that is at 9.375 that will adjust again in May. So the modification rate is guess what 9.375 lol. Bringing my payment from 1445.00 to 1584.81. More than what it is now! And it wont stop the loan from adjusted again. The only thing this modification will do is take all my past due which right now is 5881.53 and put it to the end of loan. I would have to begin making payments starting April 1st. This is a bunch of bull. First to tell me that I have been denied any type of modification, then to see that 2 have been denied online, then to recieve a modification in the mail. I am soooo beyond disgusted at this point. If they can do this, then I know they can do much, much better. Thank goodness I have equity, so I dont mind the past due being added to the end, but I NEED MY RATE FIXED!!! This is the thing that is getting me behind now with the payments going up hundreds of dollars every 6 months. Even if it was fixed at the previous 7.25 before the adjustment I will be satisfied, not happy, but satisfied. It says the HOPE team. So are they outside of CW??

[teenut]

Another day of the CW soap opera. Today I get a letter from CW that my modiication was denied and there is nothing else they can do for me. So I called to find out about the modification package that I recieved via fedx yesterday. Of course the rep had absolutely no idea about it and per her system we were denied for it. I called back to advise the advocacy department of my NACA status and of course I get the home retention dept. The rep said the calls our sometimes routed to them instead. So she transfers me back, I wait on hold for 20 min. then some one picks up and ask can she place me on hold, I say no, but of course it didnt help. How can we ever expect them to help us if they dont have a clue??? Its a good thing that I am able to blog about all of these encounters so I can keep track of the CW nonsense incase I need to refer back to it. We all have a written record so lets keep writing, it might come in handy one day to prove how unethical CW practices are.

[Moe Bedard]

The members that have had success with NACA have utilized the online chat feature at the top of the website and also phone and email together to check on the updates...............and they have all said that you have to be persistent and contact them often for updates because they are dealing with alot of homeowners losing their homes.............

NACA
1-888-302-6222
homesave@naca.com

[teenut]

I did what NACA and everyone on this site suggested and I did a massive email campaign to any and everyone I could in Maryland goverment. Today I get a call back from a woman from md govt. It wasnt of course anyone at the top level that I had emailed, but someone from the housing authority. She said she read my email, sorry for my situation and the only thing she can help me do was give me a number for a counseling center???? Ok miss dont you think I have tried all of this?? I told her I am now going through NACA, and she acted if I just cursed! She said oh no you should go through one of these agency. I advised her that NACA was hud approved also. She didnt want to give me any further detail on my I should not go through them. She asked has CW reached out to me and I told her about my recent modification from them but no help with the ARM. I wonder did my emails have anything to do with the fedx package after being told twice that I was denied?? Anyway I appreciated the call and I know that someone is listening, but we need them to take action!!! I am going to send these emails once every week. I mentioned this site in the emails and tell them they can read about many other stories. I told them we need them our representatives to speak for us. CW says they are offering help, but they dont know the kind of help they are offering is going to cause the same trouble in a couple of years. I really suggest everyone continue to write to everyone in your state. We have the power and we need to use it!

[teenut]

I checked my account on line today for CW and this time it says loan mod approved as of 2/18. It says I should be expecting a call from a negotiator by 3/25 and to expect a fedx package. Now I already received a mod package on the 16th that was horrible. But at that time the website said I was denied and so did a rep I talked to. I dont know if this is the same mod I got in the mail, NACA or Obama. I am just totally confused at this point. I have emailed NACA to find out if my proposal has been sent to CW but I have gotten no response yet. I am glad something is going on, but I just wish things were more clearer right now.

[teenut]

also the mod I recieved on the 16th stated that I had to have the papers signed and returned by the 3/12. The one online says I should be expecting a call from my negotiator no later that the 25th. I am also wondering if all the emails I sent to maryland gov't may have played a part in it too. I did get a call back from some one in maryland gov't yesterday the 18th. I dont want to get my hope up for something good, and it turns out to be the same crappy mod that came on the 16th. I hate this not knowing. Will calling CW even help since they told me to wait for a negotiator and not call before the 25??

[teenut]

ok I just went to the CW site again and looked under loan details. Currently I have an ARM thats at 9.375 and due to adjust again in May. The 1st mod I received only added the missed payments to the back and kept my rate the same and kept it at the ARM. This is what the site currently says

Introduction / Details | How We Calculate Your New Payment Amount | Terms of Your Rate Adjustment Payment Change Notice for your ARM Statement Date Prepared: 02/17/2009 INTRODUCTION According to the terms of your Adjustable Rate Mortgage (ARM), your interest rate is scheduled for adjustment on 04/01/2009. An adjustable in your interest rate usually results in a change in the principal & interest (P&I) portion of your monthly payment. We have calculated the pending interest rate change and provided you with specific information related to this adjustment. Please take the time to read through the important information below. We feel this information will help in answering questions you may have regarding this and future adjustments to your loan. Please note that your account may have been modified since your last annual statement. Your Adjustable Rate Mortgage Summary Current New Monthly Payment $1,494.81 $1,356.19 Interest Rate 9.3750% 8.0500% DETAILS Monthly Payment Breakdown Current New Upcoming Dates Interest Rate 9.3750% 8.0500% New Payment Effective 05/01/2009 P&I $1,270.78 $1,132.16 Next Adjustment 10/01/2009 Escrow Payment Amount $224.03 $224.03 Additional Principal Reduction $0.00 $0.00 Optional Insurance $0.00 $0.00 Buydown Assistance $0.00 $0.00 Total Monthly Home Loan Payment $1,494.81 $1,356.19 Investment $0.00 $0.00 I am thinking this is what the new mod would be because as you can see it has a prepared date of 2/17. If this is it, its not acceptable. Its still an ARM and will adj in oct instead of May. At least on the Mod they did bring the interest rate down a little, but its not good enough. I need a fixed rate for the life of the loan.

[heehoo22]

That is your standard ARM adjustment, not your modification. The system is not set up with your modification until you have signed and returned the documents

[teenut]

thanks for responding Heehoo, but before it was adjusting up, why is it going down??

[heehoo22]

Interest rates are dropping. At an all time low. If interest rates drop, your adjustable rate goes down...

[teenut]

oh yeah thats right!!! Thanks for clearing my head LOL. So I guess its a good thing that this isnt the Mod, so I can keep my hopes up LOL. But do you think the one It says I am approved for is the same one I already recevied??

[heehoo22]

I'd call NACA. They should know the terms if they approved based on their submission.

I can't even begin to predict what our crazy system doesn't without actually researching anything.

[teenut]

Yeah the CW system is really confusing me. First Im denied twice than a mod magically appears in the mail. Then im denied again and then the site says approved. I will keep calling NACA to try and find out whats going on. I had my last interview on the 12th and they said it would be submitted. I cant imagine it was done this quickly through NACA. I am anxious to see if I recieve new paperwork in the mail or if a negotiator actually calls.

[teenut]

I am soooo frustrated at this point. I call CW to find out about this new modification thats showing approved on their site and to see if its the same one from the heart/hope team that I recieved on monday. I get a rep who advised me he cant answer any question and that I need to call the hope/heart team. So I call the hope team and of course the reps their say they can only answer questions reguarding the terms of the modification. They are just a 3rd party company hired by CW to answer question about the paperwork and to send it out. They dont do the workout so cant renegotiate anything, they said CW always tries to transfer customers to them and they hate it just as much as we do. So after they played pass the buck with me transfering me back in forth for about an hour, it all boils down to know one has a clue about anything! No one can tell me who my negotiator is, if its the same mod I already recieved if the date is the 3/13 or 3/25 to have the paperwork back. One rep even said it could be possible that I recieve more than one mod popping up in the mail because of all the different gov't programs. I finally got in contact with NACA and the rep said it was just approved by their supervisor for submission on 2/19 and will either be submitted today or monday. So I know the new mod thats showing up on CW site has nothing to do with them. I just wish I knew what direction to go in. The 1st mod was horrible, but it did take care of the 7,000 back due, but of course the ARM is still there. If push comes to shove I would take it to be able to stay in my house. But with the cut in income, I couldnt afford the montly payments with that high rate and this madness will start all over again. The rep from the hope team said even if I accepted the Mod and something else could be done, I can always reapply. I dont know how true this is.

[heehoo22]

I would let NACA take care of things. If you are approved through the AG Settlement (and those are the docs you received) they have to offer that to you again, even if you don't return your documents.