TTrumble

Forum Replies Created

Viewing 12 posts - 6,931 through 6,942 (of 6,942 total)
  • Author
    Posts
  • in reply to: Approved for a HAMP trial plan #444
    TTrumble
    Member

    Hello angela68,

    You have noting to be worried about.

    Remember that you are still in a โ€œtrialโ€ payment period. Your mortgage modification has not been made permanent. Until the trial is successfully completed and the final modification documents are sent to you, signed and returned, normal collection activity may still continue. That is all that happened.

    The banks are so huge and disorganized that the various departments do not communicate with each other. This is why we continually have to remind our members that our contract with the servicers, including Wells Fargo, requires that all communication regarding your NACA proposal must be made through your NACA file. Any contact you receive directly from your servicer has nothing to do with your NACA file.

    Please feel free to contact me at the e-mail address below if you have any other questions.

    Thanks!

    Tim Trumble
    Online Operations, NACA
    ttrumble@naca.com

    in reply to: Downpayment Assistance Programs-California #425
    TTrumble
    Member

    Hello christelh,

    Each program has its own requirements to qualify, but since all NACA mortgages are no down payment, the money would be used to buy down the interest rate. Information avbout the CalHFA downpayment assistance program can be found at downpayment assistance programs.

    Tim Trumble
    Online Operations, NACA
    ttrumble@naca.com

    in reply to: Kansas City #424
    TTrumble
    Member

    Hello Pearlnecklace77,

    To what group are you referring?

    Tim Trumble
    Online Operations, NACA
    ttrumble@naca.com

    in reply to: Escrowed taxes on MRF Sheet #423
    TTrumble
    Member

    Hello gromero2012 and Newark Office Member,

    I am not aware of any such requirement of 9 months of taxes in escrow. if so, that is a local issue that only your MC will be able to answer. It would seem unlikely though since the mortgag you will get is fullay amortized including property taxes.

    Please continue to reach out to your MC for a specific answer. If you are not able to reach him/her in the next few days, plesae let me know at the e-mail address below and I will try to help you get in touch.

    Thanks!

    Tim Trumble
    Online Operations, NACA
    ttrumble@naca.com

    in reply to: HELP ME SAVE MY HOME PLEASE! #421
    TTrumble
    Member

    Thank you for your message. Please be aware that any contact you receive directly from your servicer has nothing to do with your NACA file. Our contract with them requires that all communication regarding your NACA proposal must be made through your NACA file.

    If they have asked you directly for documents, the request is coming from a different department that has nothing to do with your NACA file. By sending them documents directly, you created a separate file that is not associated with your NACA proposal and that NACA cannot help you with.

    You have most probably been dealing with two separate files in two separate departments at the bank and not been aware of it. If you submitted documents directly to the bank when they were requested through the NACA file, or vice versa, they did not get to the intended recipient. This is the very reason we have the requirement that all communication must be through youe file.

    It will be necessary to create and submit another proposal on your behalf. Please send me your name and NACA ID number at the e-mail address below so I may review your file and advise you on how to best proceed

    Thank you!

    Tim Trumble
    Online Operations, NACA
    ttrumble@naca.com

    in reply to: Help #377
    TTrumble
    Member

    Hello aliciaskids,

    You can begin by going to the NACA website at http://www.naca.com, clicking on the blue “Home Save” button and establishing your file there. You will learn what documents we will need and how to submit them, and how to schedule a telephone counseling appointment so we can work with the documents, conduct and interview and create the proposal for sumbission to your lender.

    Thanks!

    Tim Trumble
    Online Operations, NACA
    ttrumble@naca.com

    in reply to: Submitted to Underwriting Today #376
    TTrumble
    Member

    How fantastic! You’ve been the ultimate example of patience and persistence, and it is finally paying off! ๐Ÿ™‚

    in reply to: The NACA Forum is Back! #353
    TTrumble
    Member

    Hello lrmatthews18,

    Unforunately, the problems we experienced with the old system were too great for us to recover any of the old posts. We’re starting over from scratch!

    Tim Trumble
    Online Operations, NACA
    ttrumble@naca.com

    in reply to: The NACA Forum is Back! #348
    TTrumble
    Member

    Good to see all these familiar names showing up. Starting to feel like a family reunion! ๐Ÿ˜‰

    in reply to: The NACA Forum is Back! #343
    TTrumble
    Member

    Hello PackedAndReady,

    Glad you are back with us! I was thinking about your file on the way in this morning, and will be sending you an e-mail shortly.

    Thanks!

    Tim Trumble
    Online Operations, NACA
    ttrumble@naca.com

    TTrumble
    Member

    Hello SlicedBread,

    Welcome Back! The fact that your loan was more than the $729,000 limit for a HAMP modification in no way affected your eligibility for other modification programs or NACAโ€™s ability to work with you.

    You appear to have a slight misunderstanding of โ€œNPVโ€. NPV actually stands for Net Present Value, not Negative Present Value. It is in fact a very complicated formula (using more than fifty different factors in some cases) used to determine the value of a property relative to the loan. It is a formula that all banks use, not just Wells Fargo. In short, it is used primarily to determine if the servicer comes out better financially by modifying the loan or foreclosing if the homeowner cannot bring the loan current. Generally, a positive NPV means they do better by modifying and a negative NPV generally indicates they have less to lose by foreclosing.

    A negative NPV however does not guarantee that they will foreclose. We have succeeded in many cases where there has been a negative NPV. We will simply have to try again. Please contact me by e-mail so we may begin the process of creating and submitting a new proposal.

    Thanks!

    Tim Trumble
    Online Operations, NACA
    ttrumble@naca.com

    • This reply was modified 9 years, 4 months ago by TTrumble.
    in reply to: Happy the forum is back!! #322
    TTrumble
    Member

    Glad you found it! We have been spending a day or two testing it, and plan to make the public announcement tomorrow. We’re happy it’s back too!

Viewing 12 posts - 6,931 through 6,942 (of 6,942 total)