I was wondering what timelines look like. (eg 1 month, 6 months, 12 months)
After I upload the documents and call Home Save department, how long should I expect before the package is sent to the servicer?
After the servicer receives the package, how long should I expect before acceptance or denial?
I looked up the investor and servicer at https://www.mers-servicerid.org . Servicer for both is Bank of America. Investor of 1st is Fannie. Investor of 2nd is California State Teachers’ Retirement System.
I didn’t know if NACA could help since I don’t qualify for HAMP, and I’m glad NACA can try.
I have not contacted CalSTRS or Bank of America regarding internal modification programs. I thought it might be better for NACA to try to negotiate with Bank of America since NACA and Bank of America have an existing working relationship.
All my monthly statements have come from Bank of America since 2011, and I have never had any letters or communication from Mountain West Financial. The CalSTRS 80/17 program was discontinued in 2011 and that’s when Bank of America stopped originating any CalSTRS loans. I believe Mountain West Financial was planning to originate CalSTRS loans in 2012, though it never happened and my loan was never transferred to them for servicing.
I have never been late on my mortgage payments. However, that will probably change with this second mortgage payment.