Loansafe.org

[eddiep]

Actually, loansafe does not send anybody to the CEO's homes, many of the user over there have used and recomend NACA to negotiate with the lender. NACA was the group that protested at the CEO's homes. I don't have much faith in NACA, some have had great luck with them, but many have been let down too. I got the email address of Ken Lewis, CEO of Boa from a loansafe member. That email address led to a loan mod after I was denied trying to go through the loss mitigation department. My mod was approved before Obama's plan was approved.

[ItsJustMe]

Like I said in my earlier post, I have no clue what kind of behind the scenes drama there is. As far as the forums, though, they are a wealth of information as far as I'm concerned. Just as this forum is a great place to come find information and advice regarding BK situations (and I have no clue what motivations/drama there are behind the scenes here), Loansafe is full of helpful people who have BTDT or are going through the process along with you. They have stickies of contact information, FYIs, helpful hints, etc on working out a mod ON YOUR OWN! They may offer (or contract w/?) modification 'professionals', but 99% of the posts on those boards are intended for those seeking out their own modification (either directly through the lender or through the HUD agency of their choosing...NACA is by far the most popular).

If you search around there a little bit, you'll see that a good majority of the posters couldn't get ANYWHERE w/a mod until they contacted sources that have been listed on the LoanSafe forums. This was my case. I wouldn't have known what an 'office of the president' was, let alone known that contacting them could get me in touch w/the right people, push my mod through quicker than the traditional in house mod, get me phone numbers of people who actually ANSWER the phone!

It's also a great place to seek out experiences for situations similar to your own. What is YOUR servicer offering? What is THEIR process for a mod? How is YOUR investor handling mods? I can't think of a single other place where you can find this kind of information.

[JimKutkowski]

I stand corrected, NACA should rot in jail. Anyone who recommends them should have their license pulled.

[ItsJustMe]

I didn't have success w/NACA, but a lot of people have been VERY successful. 2% for the life of the loan! It seems though that the investors (aside from a few) aren't working with them now that the government plans are (supposedly) in place.