Jim Davis AHMSI

car67

LoanSafe Member
Jan 25, 2010
127
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I just left a review

My Counselor Elma has really disappointed me.... No return phone calls unless I contact her boss. Over 10 voicemails and now a denied Mod and still no help or advice from this agency that's suppose to help ya...... I left a good review for Open Door Counseling..... Too many people taking federal money and grants to help homeowners but the result is not forthcoming in my view Read my review atOpen Door Counseling Center - Hillsboro, OR I am going to find a way to get help not going to give up!
 

Cat Damiano

Mortgage Wars
Sep 10, 2007
10,541
39
48
Colorado
www.loansafe.org
My Counselor Elma has really disappointed me.... No return phone calls unless I contact her boss. Over 10 voicemails and now a denied Mod and still no help or advice from this agency that's suppose to help ya...... I left a good review for Open Door Counseling..... Too many people taking federal money and grants to help homeowners but the result is not forthcoming in my view Read my review atOpen Door Counseling Center - Hillsboro, OR I am going to find a way to get help not going to give up!
Have you looked into NACA at all? They have their own program that they put together and have been able to help many that have been denied for a modification. If you have to start the process over, it may be worth a try to go this route this time.

Here is the information for you to look through;

https://www.naca.com/nacaWeb/refinance/homesaveProgram.aspx?language=
 

car67

LoanSafe Member
Jan 25, 2010
127
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Cat I am going to try NACA now to get the ball rolling this is simply amazing to me the run around I get with Homeward Residential
 

Cat Damiano

Mortgage Wars
Sep 10, 2007
10,541
39
48
Colorado
www.loansafe.org
Cat I am going to try NACA now to get the ball rolling this is simply amazing to me the run around I get with Homeward Residential
If the lender isn't giving you any other options, NACA is definitely worth a try. Please keep us posted on how it goes through the process with NACA. Good Luck!
 

Cat Damiano

Mortgage Wars
Sep 10, 2007
10,541
39
48
Colorado
www.loansafe.org
This was posted in a NACA thread by a rep that helps on the forum;


http://www.loansafe.org/forum/naca/52886-naca-assistance-getting-boa-modification.html#post451846

For your future reference and that of everyone here, we actually have a dedicated missed appointment line. If a scheduled call does not come within 90 minutes of the appointed time, the member should call 888-495-6222, select option 4 then option 9. They will be asked to enter their NACA member ID number so we can verify the missed appointment, and will then be placed in the queue to speak with the next available counselor.

Nearly everyone who has come to NACA for help with a mortgage modification has already tried on their own and failed by working directly with the bank. We are able to work directly with the bank as you note, and work with a specific department with each of the banks we have an agreement with. While your NACA file will in fact be a second, separate file at BOA, they will still work with us while the other attempt is in review. There is never a guarantee of a modification under any circumstances. However, there are a variety of options that are possible through our advocacy efforts and our success rate certainly testifies to our effectiveness.

In fact, one bit of advice I have for you is to not take their word for it when they state that BOA "does not have the contractual authority to modify the loan". In one case I personally dealt with recently, the member's loan was in a Mortgage Backed Security (MBS), and the bank told them the investor did not allow modifications. The member made a written request to the bank for a copy of the Pooling and Servicing Agreement (PSA) for the loan. After receiving a copy of the PSA, the member gave it a thorough read-through and discovered that modifications were indeed allowed on the loans in this MBS, and the guidelines and limitations for modification were even spelled out in detail in the PSA! The bank rep (not BOA in this case by the way) simply assumed that because the loan was in an MBS that modifications were not allowed.

I sincerely suggest that you contact BOA and request a copy of the PSA for your loan. The request must be in writing. Even though we are your authorized advocate, the request must come from you instead of us.
 

car67

LoanSafe Member
Jan 25, 2010
127
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0
Starting with Naca

I just finished doing the counseling and started faxing in my documents. I really like how the Naca system is laid out that you can do everything online! Pretty cool!
 

Cat Damiano

Mortgage Wars
Sep 10, 2007
10,541
39
48
Colorado
www.loansafe.org
I just finished doing the counseling and started faxing in my documents. I really like how the Naca system is laid out that you can do everything online! Pretty cool!
You are on your way, I do hope that you are able to get an affordable workout through NACA. Please do keep us posted throughout the process and Good Luck!!
 

car67

LoanSafe Member
Jan 25, 2010
127
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I have been away on the road working..... NACA has been great to use...... I love the web interface and they always call like they promise.... HEADS up Homeward Residential has now sold to OCWEN NACA says this is great because they have a working relationship with OCWEN where they didn't with Homeward Residential....Also NACA is having a meet the lender event in APRIL in Seattle and I will get to meet OCWEN reps if we don't have a solution by then. Things are looking up thus far...... thanks for sending me to NACA best advice ever.....
 

Cat Damiano

Mortgage Wars
Sep 10, 2007
10,541
39
48
Colorado
www.loansafe.org
I have been away on the road working..... NACA has been great to use...... I love the web interface and they always call like they promise.... HEADS up Homeward Residential has now sold to OCWEN NACA says this is great because they have a working relationship with OCWEN where they didn't with Homeward Residential....Also NACA is having a meet the lender event in APRIL in Seattle and I will get to meet OCWEN reps if we don't have a solution by then. Things are looking up thus far...... thanks for sending me to NACA best advice ever.....
No problem, I am so glad that your experience is going great so far. Ocwen is one of the best servicers to work with on loan modifications and one of the first to begin providing them.