QWR Letter?

[spearmint]

I am behind on the mortgage and got a foreclosure note taped to my door a week ago.

Time is getting short - auction is mid-March! I have a loan mod app in to Chase through NACA but Chase says they don't have it. I contacted the executive resolution team at their executive offices and I am being pressed to send in documents myself, namely tax returns, etc. so I can do a loan mod directly with them. From what I have read on other forums, the fact that Chase can't find the documents from NACA is nothing new at all. It appears they would rather ignore NACA so they can offer me some sort of lousy mod. The problem is time is getting short - auction is three weeks away, something the man in the executive resolution team keeps reminding me about.

I am wondering if I should send Chase a QWR letter to try to buy some more time - or just file Chapter 13 now? Help!

[eddiep]

you must be a loansafe member?

[spearmint]

How did you guess ;)

[eddiep]

Do you think there is some connection between loansafe and NACA? That is the only advice the mentors give.... I you only own one home... call NACA!

I think you can and should, contact Chase on your own too! NACA has NOTHING to lose! You have a lot to lose! It is nice if NACA can get a mod for you but you need to fight for yourself. I am doing both, I have requested a mod and NACA has also submitted a request.

Contact a bk lawyer ASAP! You have to decide whether a bk mark on your credit report is worth it to save your home, but apparently a forclosure is even worse if you want to buy another house. There is some new legislation in the works that will allow a bk judge to modify your mortgage. But even if it doesn't pass a bk judge can STOP a foreclosure and give you time to catch up on your payments.

[eddiep]

What is the problem you have with your mortgage?

[spearmint]

I have an ARM that readjusted and, along with a decrease in income, cannot afford the high payments now.

[eddiep]

Why not get in touch with Chase yourself? What do you have to lose? If they are asking for documents from you they must be willing to make a deal. Watch the news tomorrow, the details of Obama's Home Retention Plan are going to be announced. You sound like the perfect candidate!
NACA makes me nervous, I am hopful that they will come through but I will not put my future or my home in their hands alone! I hate that you can't talk to anyone over there, and outside of loansafe, I have never heard of them before and when I asked my bank (Bank of America) if they had recieved my proposal from NACA they said "Who?" and supposedly they have a contract!
Don't put all your eggs in one basket!