September 5, 2009

NACA's "save the dream" project is such a good gesture. I would look forward to the upcoming event at San Francisco. Thanks.

I second that motion.

Good luck trying to get someone to help, we spent 18 hours at the L.A. event and never got seen, now they want us to go to the Las Vegas one. We can't afford to miss anymore work trying to get seen by a counslor.

Its worth the wait beleive me dont leave when you see the long line buckle down and wait it is worth the wait.i was at the L.A event and i was there the first day fore 15 and wasnt seen came back the next day and now i am still smiling.Thank uou Bank Of America

I'm delighted that you were helped. There are more events coming up in Phoenix, Las Vegas and Oakland.

I hope it works because I was there Friday at the LA convention center and did not get seen, told to come back saturday, long lines thousands of people, was there from 7am to 11pm, told to come back sunday I did, this time got a voucher to come back on monday and now I have to travel to Las Vegas. I have spent more money this weekend paying for parking, over priced food, and not to mention gas at 3.19 a gallon coming from Riverside, that I was better off, well never mind,just good luck. Just in Case I plan on being in Las Vegas anyone know what time I should get there?

Naca submitted a proposal to Bank of America since April!I have been calling every 2 weeks to get an update but same old "call back in 2 weekks!" so after waiting 6 months this is the last thing we are going to try!We are going to go to the Save the dream in SF.Does anyone know exactly what time it starts?

Before anyone makes the decision to travel to a NACA event and spend entire nights waiting in line with thousands of other people, find out ONE thing about your loan!!! WHO owns it???? Does your bank own it or does an investor own it? If an investor owns it, you are WASTING YOUR TIME!!! i went to the NACA event in Vegas. Arrived there Thursday evening at 1am and got in line (there were already @ least 1000 people in line). Was there at 7am when the doors opened. Was herded into an orientation session where NACA was explained (nothing you could not have learned by visiting the website). At the end of the meeting we were informed that because 10,000 people had shown up we would not be seen that day and would have to return the following day! Upon hearing this news, the group of us left the building and secured our place in line for the following day. Keep in mind it was only 11am!!! So, another cold and horrible evening sitting in chairs waiting for the doors to open. After more herding into rooms and waiting i finally got to meet with one of the NACA counselors. She was GREAT worked my numbers and came up with a mortgage payment i would have traded one of my kidneys for!!! i was so hopeful that i could actually leave with a solution (it didn't hurt that during these long periods of waiting people who were granted their solutions spoke at a podium sharing their stories of success). Maybe i would get helped after all?? When i finally did get sent to see my lender (Chase) ALL my hopes were dashed when i was told that Chase was only the servicer of my loan, and that it was OWNED by an investor!!!!! So, after spending 2 HORRIBLE nights out in the cold waiting in line and not sleeping, i would go home with NO answer!!!! What a bunch of crap!!!!! NACA doesn't work if you are not behind or haven't missed any payments. You will get help (even a pat on the back though if you stop making payments for a year and come cry saying your mortgage is too high. i am disgusted by what i saw, people in the lines asking relatives to hold their spots while they went back to their hotel rooms to sleep, or go get food from nice resteraunts (i thought you were broke because your mortgage was too high) and then get into their Lexus and drive away from the event (again i ask i thought you were broke because your payment is too high?)
i will continue to ask NACA to negotiate with my bank, but i can't say i have much faith in what they will be able to accomplish. If your loan is investor owned, don't waste your time sleeping outside with thousands of people who think NACA can help them. If a bank does own your loan though and you haven't paid your mortgage for a year it could be your lucky day! Good luck, if you are going to a NACA event you will surely need it!!!!

Wow, That is wat I went to 3 sleepless nights.waiting going back in line for three days to find out my husband being on unemployment ruined our chances.after seeing the counsler she said we can get u down to 650 dollars a month. wow i was grealtful. to get to the lender sat for five min and be told sorry nothing we can do your husband unemployment is enough so we got up and walked away thinking wow! then three people from naca and a wellsfargo came running after us ! cuause i was crying and upset and asked us to sit back down they did not want me going out cryin!Why!Cause they didnt want 10,000 people inline asking what just happen and if i told people would leave? After i walked out and they contiuned talking to my husband they said fannie mae agreed to a 30 year fixed at 479.00 a month! and my husband calling me so happy they gave him a paper for a forbearance for three months and rieview our loan after three months. WOW nice 30 yr fix now we are back to the start cause again until its set in stone i still worry! so now i got three more months to worry! was this beacuse they really cant help! they told one lady u get your answer in a few months check our web site! but when u bought your house u sign with the lender right away deal was final right! so nothing final while your there cause the lende or investor never sign so can they do numbers after! and everyone is walking with a smile dont smile until you sign and if naca works good luck and im happy for you. they gave me a forbearance for three months but they told us fannie mae agreed to 30 year fix 3% cause my house is worth 70,000 my payments are now 479.00 wow so why does it now say forbearance and lender will review in three months.so i really didnt get that deal cause it was never set in stone at naca event.i would like to know the stats on how many people really got help

mY HUSBAND AND I HAVE A HUGE MORTAGE MONTHLY PATMENT. WE ARE POSSIBLY SEEKING TO ATTEND THIS NACA HELP ORGANIZATION. THOUGH OUR BANK IS CHASE AND WE MAY NOT GOT HELP, WOULD THIS BE A WIDE CHOICE TO GO BY???

Chase is one of the banks participating, so this would be a good event for you to attend.

Our "servicer" is also Chase. Our loan is with Ginnie Mae. Because of a loss of income, we applied for a loan modification and were turned down. We were not given a reason and Chase could not tell us. They directed us to Ginnie Mae. Guess who Ginnie Mae directed us to? Yep. Chase! So we are left not know who has the authorization to modify or restructure our loan. We've also learned that with the bailout, the investors have no real incentive to work with us because we were no sub prime.
A Jackson and K Green^ got it right. You have to know WHO OWNS YOUR LOAN and, if you get a loan restructure, don't bank on it until you GET IT IN WRITING.

We attended a free workshop here in Phoenix, with a different non-profit HUD-authorized organization. After listening to their tips on lowering expenses (which we have done ALL and MORE) and increasing income (like 'have a yard sale') we completed an application to be seen by one of their counselors. After pulling all the paperwork together we showed up for the appointment 2 weeks later. The counselor couldn't find our initial application because we didn't include a social security number on one of the forms. No one called to ask us for it and it was "shelved". By the time the counselor got all the information into the system-having to do the whole process twice because her computer froze- she then attempted to "do the math" on our income/expense (without a calculator), and left barely enough time to call Chase because it was 5pm. When the Chase rep mentioned that our loan was FHA she looked at us and said, "OH, well that's entirely different, you didn't tell me THAT". What the?? She then finished up the call with Chase, who promised to send us another modification packet within 7 days so we could reapply since I returned to work (at a much lower income) The counselor, though, could not help us any further. She said we were at the mercy of the lender. Great! What a huge waste of time! That questions should have been asked on the initial application. It's been 2 weeks now and no packet has arrived from Chase.
I'm wondering if anyone attending a NACA workshop has experienced the same thing. I'm pretty skeptical of NACA or any other organization at this point. We hear that the lender has to help you 'by law' but that doesn't seem to be true.

If you go to a NACA Save the Dream Event, you MUST be there on the first day, early - at least by 6am.
Plan on staying all day and maybe two.
Bring your docs as listed on the website.
Be patient. Even if your servicer is not at the Event, you must attend an Orientation and meet with a NACA counselor to enter your info into their computer even though you've already done this at home. Be patient. Bring water, food and umbrella if you have to stand in line outside before entering. Bring a little chair if you can and a good book. Some of the Arenas are freezing so bring a coat. And most of all remember that NACA is a not for profit organization with the sole purpose of keeping Americans in their homes. Be grateful and help those around you. Ask questions if you don't understand something. Have a NACA negotiator review the info your Counselor has submitted as well as after meeting with your Servicer. Your Servicer and Fannie Mae are not to be trusted even tho they are at the event. BEFORE YOU LEAVE, BE SURE TO GO FIND OR ASK FOR A NACA NEGOTIATOR TO REVIEW YOUR INFORMATION. Do not leave the event without some NACA Solution. That what they're there for. They are on your side and want to help you. Go ask questions if you don't think you're getting the help you want. Do whatever it takes to keep your home. Even if you have to spend 3 days at an Event and possibly go to another event. No matter what, do whatever it takes to Save Your Home. It's a small price to pay in the short run for the gift you will receive in the long run. Don't Give Up. You can Do It! I had to attend more than one event. It was exhausting and stressful and worth it!!! PG from Chicago

i went to the event in Chicago,i was there in july for 15 hrs,my sister and daughter both lost there jobs .my sister is half owner of the house.my lender made me a offer.i dont have to pay my morg for the next three months,at the end of the year pay what i didnt pay those previous months i have to come up with .i couldnt believe that was the offer i got.i really felt i could use some kind of assistance.my income has changed a lot.i guess ill just have to keep paying,and hope i dont go in fore closure.what else could i do.

I just got home from the San Francisco event. I was there for 2 days. I was current on my mortgage and I have a fixed rate loan and NACA helped!!! They reduced my mortgage by 500 a month and I have a 3% rate. By waiting in line for 20+ hours I saved my family $150000 over the life of the loan. Thank you NACA and B of A!!!

Hi. Attended the SF NACA event. Spent 24 hours there total in two days. We were advised by the rude complaining NACA counselor that there was "no issue" cause we are current on our mortgage regardless of the fact that I am on unemployment, my husband is barely ends meet with our three kids to support...when we meet with the BOA counselor, we are advised that an investor owns our Fannie Mae account and that they will give us 2% for 5 years reducing our mortgage by half and then raising the interest to 4.85% through the end of the loan. We owe 28 years on the loan. We were advised if we wanted the NACA plan that Fannie Mae does not authorize but will let us know their decision in 3 weeks because its investor owned...that our mortgage would have to be STRETCHED to a 40 year mortgage! The BOA rep said that what people don't say when they get a 2% interest rate on their loan is that they signed on for a 40 year loan. The set aside loans mean that you will have to pay the balloon payment that will be due AFTER you make your last mortgage loan...the forbearance plans sound DANGEROUS...40 year loan...are you going to be 90 and still have a mortgage over your head? It seems the banks win afterall...as people are stuck with even LONGER term mortgages...good luck!

I am going to the orientation in Oakland on 11/1 my neighbors had luck I am praying I will as well. Best of luck to you all, will log back when my deal is made to share with you all :-)

I am going to the orientation in Oakland on 11/1 my neighbors had luck I am praying I will as well. Best of luck to you all, will log back when my deal is made to share with you all :-)