I was actually an approved vendor for NACA as a Realtor and Prudential, our broker as the responsible party. I can refer you to several people in our neck of the woods too who got no where with them - as I. It was supposed to be an organization that offered first time home buyers assistance through reduced mortage interest plans with criteria established for the buyers including volunteer committments in the community- maybe even NACA's community. ( I try not to think about them anymore!) . NACA holds "mandatory" buyer registration seminars in churches mostly and they perform an educational seminar geared mostly toward telling the public how wonderful NACA is and what wonderful things they can do for your buyer client that really needs help. After months and months of trying to assist people who never went anywhere in the process we determined it was nothing more than a fishing trip. I never did have one client receive help through NACA. We had to go other routes. That is my experience with NACA, first hand in CA. Good Luck. Cindy Vedder

DON'T WASTE YOUR TIME!!! I went to NACA "Save the dream" convention in October 2009. I was promised "Same Day Soultions"for homeowners who would get their loan modifications approved on the spot by many of the largest lenders and servicers in the country. Bank representatives, dressed in their golf shirts with embroidered bank logos, would be on hand and would get things done for homeowners on a while you wait basis. NACA, a nonprofit based in Boston would be there with hundreds of housing counselors.

Wow. When I first heard about this whole “Save the Dream” thing, I thought it sounded absolutely fabulous.

I was there for 15 hours and a NACA housing counselor had reviewed my financial documents, then met with a representative from Bank of America, who agreed to modify my loan, taking the interest rate down from 7.375 to 3.375 and cutting my payments by more than $700 a month.
The Bank of America representative couldn’t give me a written agreement, but it was a direct contact with my lender, and I watched as the representative wrote her name down along with her phone number and the promised interest rate… right on my NACA workbook.
Fast Forward to March 23rd, 5 months later when I received a letter from B of A that specified a denial. Not only am I getting foreclosure papers I am getting a statement of $9000.00 for late fees and left over money from loan modification trial payments. Not only was I current on my house now since I made trial payments I now have bad credit for not paying the full amount monthly! NACA never told me any of this nonsense.

NACA’s CEO is Bruce Marks, and he’s known for his outrageous acts in defiance of banks. I read about the guy and frankly, had to like him. For a while, he was delivering old, crummy furniture to the front lawns of bank executives on weekends. Pretty cool, right? Now I’m not so sure.

When Bruce was asked for numbers on how many St. Louis homeowners have received loan modifications and how many are in some sort of pending status, all he would say is that “it’s a rolling number”. It’s apparently a number that rolls. Bruce went on to say that that the focus would be on completing pending cases before the tour would resume in Los Angeles in late September. The “vast majority” will be completed by the end of this week, he told the St. Louis Beacon.

Were they? I don’t know. I can’t find any published numbers anywhere. I sure hope “the vast majority” of the 40,000 people that attended the NACA “Save the Dream” event… had their dream saved.

But I’m skeptical. Because when you consider that, according to the administration’s report cards that were published on August 9th, Bank of America only modified 4% of its eligible loans. Bank of America is the country’s largest mortgage holder, so it seems hard to imagine that the “vast majority” of 40,000 homeowners could save a dream out of that 4%. Maybe I’m not getting the math right.

At least NACA provides their housing counselor services FREE! That’s right, they don’t charge any of those distasteful up front fees everyone is so concerned about. Nope, NACA gets their money the old fashioned way… from the taxpayers… well, from the government who gets their money from the taxpayers. In fact, NACA recently got $16 million in government funding to provide housing counselors to distressed homeowners. But that’s not considered an up front fee, I suppose. So, you see… that’s free right there.
Oh, and one more thing… just for fun I looked up NACA on the Better Business Bureau Website and guess what? You guessed it… an ‘F’. Uh oh. So, maybe they are doing some loan modifications after all. Go figure.


Please note the only thing NACA is missing is the most important people (the underwriters).
I’m angry at both the bank and the organization — B of A and NACA. Is the idea of ’scam’ in my mind? Yes. And that’s a quick turnaround for me. But, it was a very difficult 60-minute call I had with the bank — to see what I thought was a gift, of sorts, a break, just kind of disintegrate.”

I recommend you do your research before going to one of these conventions. If you have a PMI do through them since they don't want you to foreclose on your home. The banks do since PMI will pay them the amount remaining.

I am an active duty military offcer in foreclosure status with Countrywide. (lost 4 contracts on our home after being transferred last summer on orders) I just attended the Save the Dream event in DC this week. I also attended a seminar a month ago.
After being promised a solution within 2 hours, then 48 hours...I got no answer after 7 days as of tomorrow. It was an amazingly well facilitated and impressive processing and info collecting effort but I didn't meet anyone who had received an answer fm their lendor.
It would be hard to believe it is a scam, but our family needs results at this point...I guess we'll see.

V/r
Dennis Branson

I think NACA is robbing the poor and pretending to be Robin Hood. They make $5000 per LOAN or mod from the banks. They make around 50,000,000.00-85,000,000.00 Million per EVENT. Do the math - they make $5000 x 17,000 = 85 MILLION!!! And they get FEES from people every month and make people volunteer...
They made 20 year deal with BOA for 6Billion and a
10 year deal with Citibank for 3 Billion
They get 1$ from every taxpayer also....
so for all of the cult members who thinks NACA is an amazing thing, take a look at those numbers and you tell me....who is the LOAN SHARK now?
They wear tshirts at events that say beware of loan sharks....
funny font you think?
I am calling the BBB monday to let them know---making fees off of new loans and satisfying the old "and probably fraudulent) loan, they can generate more fees from the banks on the funds they already have earmarked for them.
How can they call any one predators????
They are really making people look like fools....when is the greed going to stop???
Do a legitimate forensic audit on any loan before you modify....Dont you deserve to know who owns your note atleast?
check this out: http://www.mfi-miami.com
Of course they think we are predators...against the very leaders that our homeowners or putting their fith into...and their money.
Be careful, FREE things are usually too good to be true.....especially when they are making 85 MILLION per event...okay, maybe 50 MILLION......who's watching that hen house???
Stand up people!!! Share the knowledge and God Bless you and your family...
Debi-
561-389-9339
Boynton Beach, FL

I attended a seminar in West Palm Beach, Florida at the end of February. After 11 months of back and forth with Litton Loan I was very frustrated. NACA was able to get us an interest rate reduction AND a very large principal reduction off of our mortgage. Our savings total $750.00 per month and we were thrilled with the results. We are in the 2nd month of our trial payment - after June we are hoping the modification will become permanent. NACA also did a forensic audit for us which showed that our loan has numerous violations- we have seen an attorney and plan to go to court with our audit IF our modification doesn't become permanent. Thank you NACA, you are the best. WE LOVE YOU!!!

My husband and I are currently working with NACA, and have had our shares of ups and downs. We knew it was going to take a while because our credit was not good, and we had to fix it. They do not give you a loan UNTIL your credit is improved! Be prepared to do work that will take time if you have poor credit. Secondly, no down payment, no closing costs is very misleading. When you go to purchase your home you have to have 3 months mortgage, one year of home insurance, and one year of taxes up front. Plus, we have had some difficulties figuring out what we have now dubbed "NACA math." Throughout the process you have to save the difference between your rent and what you would be paying for a mortgage they feel you could manage once you get approved. So, my husband and I opened a savings account which we have been depositing the rent to mortgage difference in for over 6 months now (this acount has not been touched except to deposit our money in to, BTW). A couple of weeks ago our NACA mortgage specialist called and told us when he "ran figures" on our two checking accounts and the savings account, we did not show a consistent rent to mortgage difference savings. My husband called and asked for an explanation, and the answer was cryptic and unclear. Now we were in danger of NOT getting approved again, even though we were doing exactly what they told us we needed to do, showing a consistent savings of $322 per month, and paying all of our bills on time. We have requested another meeting with our mortgage counselor to try and get some explanations. If this answer is confusing I apologize, this is what it is like to work with NACA.

NACA in theory is great. However, in practice, they are quite flawed. The customer service seen at this company is terrible. Employees are instructed to lie and feed pipe-dreams to desperate homeowners. Bruce Marks cares very little (if at all) about the homeowners. He only sees them as dollar signs. Bruce is no better than the banks he “despises.” On any given conference call, Bruce can be heard screaming at employees to produce NUMBERS at the events. He could truly care less if the members are helped, as long as he gets paid. As a former employee, as I say with confidence that nearly 80% of all members that attempt to use NACA get lost in the shuffle.

Perhaps the only thing worse that their customer service is the way their employees are treated. They routinely hire ex-cons with little to no loss mitigation experience. Sadly, these are the employees that tend to stick around. Talented and competent employees often jump ship because of how they are treated. Bruce screams incessantly at employees. However, those that do not work directly for Bruce are not immune to the ingrained “treat all employees like dirt” culture that is standard at NACA. Frances Epps and Erick Exum see to it that employees are ‘kept in line.’ In addition to the horrible way employees are treated, they are not even paid adequately (or sometimes at all). NACA is notorious for systematically underpaying employees often turning their employees into the members in need of their services.

It seems to me that rather than “Saving the Dream” NACA’s practices are doing no more than perpetuating a nightmare.

If you have had problems with NACA, I suggest you call Bruce Marks personally. Since he is so 'concerned' about his members he shouldn't mind a few phone call right?

Bruce Marx's Personal Cell Number: 617) 835-4477

DEAR BRUCE MARKS!
I represent sellers of a home in Silver Spring, MD, which is being purchased by approved NACA buyers. They have been pre-qualified by NACA since last December and are the perfect NACA clients. And yet, this seemingly simple transaction has been thwarted and delayed due to NACA's intolerable red tape. The entire process has been marred by what we have come to perceive as incompetence: layers and layers of requests and requirements, submission and resubmission of documents, inspections and re-inspections, unanswered calls and emails. My clients,the sellers, together with their two year old daughter, are now sleeping on the floor of their home waiting for this NACA nightmare to end. The buyers have long ago given notice to their landlord and are living in a family member's basement. Both the buyers and the sellers in this case did everything right and yet they are being held hostage by the endless bureaucracy that they have encountered. We were scheduled to close on 6/23/10, a conservative 60 days after the ratification of our contract. We have had two delays and are now being told that settlement may take place on or before 7/15/10. Everything has been submitted, a bank commitment letter has been received and yet we wait. Will there be a third unexplained delay? In the meantime, my client's next settlement is obviously also held up and in jeopardy.
I doubt that this is the kind of service you want your organization to be identified with. Please help.
LizB

First of all a lot of people have very bad things to say about NACA when they only know a partial story. Get your information correct before bashing a company that has helped thousands of people save their homes. Like any other company, NOTHING IS GUARANTEED. NACA never once guaranteed any of the FREE SERVICES. The banks are not listening to homeowners. Desperate homeowners are paying money to lawyers to get them out of situations and are losing money because the lawyers cannot assist. Ultimately the banks make the decisions regardless. One thing about NACA is that because of Mr. Bruce Marks' tactics they have contracts with all of the major lenders. What these crazy blogs do not say is that when NACA holds these SAVE THE DREAM EVENTS many homeowners come and they fabricate their income or other information. When the banks do their research and find out that the information is a lie then the file is denied. So no it is not NACA's fault that a lot of these homeowner's have not gotten any help. It is their own fault because they won't tell the truth. They try to get over on the system and it comes to bite them later on. Then the blame is on NACA. People need to take responsibility for their own actions. They also need to be proactive and stop thinking that a non profit organization is going to hold their hand, do all the work and they do nothing but reap the reward. It does not work that way. The process is not a long process if people would listen and do exactly as told. The bank does not care about anyone's sob stories. The homeowners were the ones that signed a contract stating they could pay the bank "X" amount of money for their home when they purchased it. Now that they can no longer afford it, it's NACA's fault that the bank won't help. PEOPLE PLEASE WAKE UP AND TAKE A LOOK IN THE MIRROR AND ASK YOURSELF, " HOW MUCH FAULT DO I HAVE IN THIS" AND STOP BLAMING NACA FOR YOUR SHORT COMINGS.!!!!!!!!!!!!

Today is March 30, 2010. I live in Minnesota and they are new to this area. I entered a purchase agreement on July 21, 2009. I attended a seminar in June and was informed of all the documents that I would need. My credit was not the best, so I had to take a little time to fix it, but it was nothing major.

I have been dealing with NACA for 9 months and there is still no closing in site. Every month I was promised by my NACA mortgate specialist that we would close, just to end up signing a new addendum every month and them asking for more bank statements and pay stubs. I was very naive and believed in a program that could not deliver. The NACA mortgage specialist in St. Paul, were very unprofessional and did not communicate with me as they should. I also got them the documents that they requested the same day or day after... so it was NACA that was so slow. I have solid work experience and solid income. It should have been easy.

Just a week ago, the seller and myself cancelled the NACA contract. It took me about 1 hour to get re-qualified with a REAL mortgage broker. We are expected to close in less than a month.

Maybe NACA is legit, I do not know... I had very bad experience with them and was promised things that did not happen.

The problem comes in when the seller of the property that you are trying to purchase is getting upset because they are still paying the mortgage on the home and they are also being promised fantasy closing dates.

It's a joke, unless you have over a year to wait to close. Good Luck.

Would not recommend this program.

My wife and I started looking for a home several years ago during the "boom." We found out about NACA at a local church. We had no credit issues, etc. and were very organized with submitting papers. Our problem was that we were priced out and refused to purchase more home than we knew we could afford.
Fast forward several years and homes have reentered our price range. Naca in the meantime had changed. The lofty goal of "saving the dreams" of many homeowners has COMPLETELY OVERBURDENED THE ORGANIZATION. Same offices, same staff and promises to literally hundreds of thousands of individuals desperate to save their homes equals disaster! NACA cannot keep up with its inventory. That is what we have been living!
We have handed in all required documents in October of 2009, as always IMMEDIATELY, we had sacrificed and saved over 60.000 dollars, we have excellent credit and we haven't been able to receive a commitment letter. It is now almost April 2010. YOU CANNOT REACH ANYONE AT NACA (answering machine loops) AND YOU RECEIVE NO RESPONSES TO NUMEROUS EMAILS!!!! In short, their is no advocacy and a program that does not deliver is not a program, it's a farce! Many states have their own first time home buyer assistance programs (in New York, for example, there is Sonyma). Look into that.
I would not pay attention to any post before 2010 because it was in 2009 that NACA overburdened itself and rendered itself unreliable and thusly irrelevant.

I AM A PERSON THAT HAS BEEN TRYING TO GET A LOAN MODIFICATION FOR THE PAST YEAR AND HAVE BEEN USING NACA AS AN ADVOCATE ON MY BEHALF OR SO I THOUGHT UNTIL THEY GAVE MY HUSBAND A PHONY FIGURE OF HIS INCOME AND I BEGAN TO WONDER IF THEY WERE REALLY TRYING TO SABOTAGE MY LOAN MODIFICATION INSTEAD OF HELPING ME BECAUSE THEY REFUSED TO FIX THE FIGURES EVEN THOUGH I SENT THEM ALL THE PAYSTUBS AND A EMPLOYER LETTER STATING THE AMOUNT OF MY HUSBANDS INCOME. ANYWAY BECAUSE OF THIS I STARTED TO DO SOME RESEARCH AND FOUND THAT BANK OF AMERICA WHICH IS THE BANK THAT HAS MY MORTGAGE IS A PARTNER OF NACA AND SUPPORTS NACA WITH FUNDING. HOW NICE WHAT A CONFLICT OF INTEREST AND INTENTIONAL MISREPRESENTATION. NEEDLESS TO SAY THERE IS ALOT MORE TO THIS STORY THAT I CANNOT DISCLOSE BECAUSE I AM GOING TO USE IT IN COURT BECAUSE NOW I HAVE AN ATTORNEY LOOKING INTO THIS AND WE ARE GOING TO THE ATTORNEY GENERAL WHO BY THE WAY I BELIEVE MAY ALREADY BE INVESTIGATING NACA AND BANK OF AMERICA PRACTICES. AS FAR AS I'M CONCERNED IT'S ALL A WEB OF CORRUPTION

I am a seller in Chicago who entered into a contract with a buyer working through NACA. It has been 4 months (late August '09) since entering into a contract and still no closing in sight. I have witnessed nothing but incompetence and unprofessional behavior from the NACA staff and their partners and would never voluntarily deal with this organization again in any capacity. Grader schoolers could run a more effective organization.

NACA is legit but the no closing cost and no downpayment is a little misleading. Ive personally seen some people actually get money back when they went to closing but in my case i had to shell out 4K. NACA is a very long and drawn out process from start to finish and if you're expecting to close in 30 days you're going to be in for a rude awakening. It took us 90 days to close, we were supposed to close in sept and here it is november and we were just given the clearance. FYI my credit was dam near perfect. The Bank they go through CitiBank are being extra stingy and take forever to process any paperwork given to them. NACA also takes forever to process things and their customer service is horrible. You never get any questions answered and the only person you're allowed to talk to is your mortgage counselor, Ive called the regional supervisor several times and each time she directs me to the same person who wasnt answering my questions before.
Ill take you through a step by step of the process
1. Pre Qualify
- you cant have any outstanding debts on your credit report
- you cant have any overdrafts within the last 3 months on your bank account
- your total debt has to be less than 40% of your income for 1 year
2 find a house
- this is self explanatory
3 Contract
- Contract must be sent to NACA for processing which takes at least 3 days
- Home inspection must be done by a naca qualified inspector
- Whatever repairs the inspector recomends must be included into the loan without going over your limit
you can find your own contractor but they have to be approved by naca in order to make the repairs
4. Loan application
- once sent in you'll get a response within 3 days but it could take weeks to recieve the conditions
- loan wont be approved until conditions are met. Some conditions could be to show your paying bills on time, to show your not increasing debt or to show you have steady income even though you did all this to start the naca process
- once proof that these conditions are met they will take 4 business days to process and send back maybe longer. In some cases they may reject them and ask you to send them more proof
- once conditions are met you will be cleared to close but willl still have to wait another 3 days for the bank to send over the closing documents
5 Closing
- They force you to close at the NACA office which may be a problem if the seller is located out of state
- you close and get the keys and everything is done.....so you think
- you must wait at least a week after closing to get cleared for the repairs
- you have to pay NACA 50$ a month for the next 5 years

WARNING! WARNING!
As of right now the bank they use is severly backed up and according to the mortgage consultant no one has closed on time since august

As a real estate broker, I can tell you that I have had nothing but problems with NACA. Luckily, I haven't had to deal with NACA in at least five years. I won't get into specifics, but their business practices were (as of five years ago) a bit shady.

It is legit, they do good work and help a lot of people in trouble.

They are legitimate. I am going through them, but am running into a separate issue where they cannot help me until I get my personal matter cleared up.
They were the organization that marched on the lobby of Bear Stearns when JP Morgan & the Government helped bail them out:

Hi Bruce. I am a real estate agent on the East Coast, and I assure you NACA is legitimate. I have not had a client use them personally, but I have had mulitiple associates buy homes through their process. I initially learned of them when I was ready to purchase, but they were not available in my area. (I attended the seminar in another state). They have since become available in my state, and I have had friends may wonderful purchases.

Attention Sir/Madam:

We are Loan Organization formed to help people in needs of helps,such as financial help.So if you are going through financial difficulty or you are in any financial mess,for the bible says”"Luke 11:10 Everyone who asks receives; he who seeks finds; and to him who knocks, the door will be opened”so do not let these opportunity pass you by because Jesus is the same yesterday, MARTIN INVESTMENT is offering a floating loan scheme You can apply for any amount of loan you might be looking for. We Offer loans ranging from £5,000.00 GBP Min. to £5,000,000.00 GBP AND US DOLLARS Max. We give out long term loan for five to twenty years maximum.

Do you need this assistance and do not know how to go about this? Do you have bad credit but need financing and really need it badly,do not look for help where there is none ,come to the masters today and be free from all financial shackles. we offer secured and unsecured loans to individuals and companies at low interest rate.I offer long and short term loans.


We are a group of energetic and experienced loan professionals with through knowledge of financial markets. We have many partners in real estate, banking and technology fields that can assist obtain financing. My firm has recorded a lot of breakthroughs in the provision of first class financial services to our clients especially in the area of Loan syndication and capital provision for individuals and companies.

Almost all of our business are through referrals by satisfied and repeat customers. And have brought ailing industries back to life and we back good business ideas by providing funds for their upstart. We provide funds to individuals and organizations to start business and operations. For more information on our services forward all replies to us today via email : tombellong30@gmail.com

APPLICATION FORM:

Full Names:
Gender:
Amount:
Purpose of loan:
Duration:
Marital status:
Next Of Kin:
Occupation:
Cell Phone:
City:
State:
Country:
Have you applied before:
Regards.

Attention Sir/Madam:

We are Loan Organization formed to help people in needs of helps,such as financial help.So if you are going through financial difficulty or you are in any financial mess,for the bible says”"Luke 11:10 Everyone who asks receives; he who seeks finds; and to him who knocks, the door will be opened”so do not let these opportunity pass you by because Jesus is the same yesterday, MARTIN INVESTMENT is offering a floating loan scheme You can apply for any amount of loan you might be looking for. We Offer loans ranging from £5,000.00 GBP Min. to £5,000,000.00 GBP AND US DOLLARS Max. We give out long term loan for five to twenty years maximum.

Do you need this assistance and do not know how to go about this? Do you have bad credit but need financing and really need it badly,do not look for help where there is none ,come to the masters today and be free from all financial shackles. we offer secured and unsecured loans to individuals and companies at low interest rate.I offer long and short term loans.


We are a group of energetic and experienced loan professionals with through knowledge of financial markets. We have many partners in real estate, banking and technology fields that can assist obtain financing. My firm has recorded a lot of breakthroughs in the provision of first class financial services to our clients especially in the area of Loan syndication and capital provision for individuals and companies.

Almost all of our business are through referrals by satisfied and repeat customers. And have brought ailing industries back to life and we back good business ideas by providing funds for their upstart. We provide funds to individuals and organizations to start business and operations. For more information on our services forward all replies to us today via email : tombellong30@gmail.com

APPLICATION FORM:

Full Names:
Gender:
Amount:
Purpose of loan:
Duration:
Marital status:
Next Of Kin:
Occupation:
Cell Phone:
City:
State:
Country:
Have you applied before:
Regards.

Income is not a limit. "There is no limitation on accessing the NACA mortgage based on income, credit score or other criteria. There are three eligibility criteria which provide minimal limitations. Properties must be located in areas where we provide services which is a large area and includes many states. The purchase price must be less than the maximum purchase price which is sufficiently high for low and moderate income buyers and those looking to purchase affordable properties. Lastly, the homebuyer must not own another property when they close on the NACA mortgage. We also expect Members to volunteer in whatever way they feel comfortable and to adhere to NACA's policies and procedures."

You can see this in the naca web page.

Other questions contact me at lorenvisaez@yahoo.com

If you have about a year or two and lots of flexibilities, then NACA is for you. I bought my home Jan 2011. It was a 2 year ordeal. I am sorry for those who have to use NACA to buy their home. Despite the pain it was well worth it. At least my husband got a lot of his financial act together and me too :-), but his was a great mess.

I work as an assistant to a previous NACA rep that now is a real estate agent. It takes our clients that use naca about a year to close. Most of them have to suffer until the closing date; but they still send us a lot of people because NACA is the only hope they have to ever buying a home. Many are always willing to give references. NACA is for those that are willing to pay the price in hard work and perseverance as well to repair their credit.

Some of our sellers don't like NACA because of the unpunctuality but they still deal with them because despite the loooooooong time they take, NACA is a sure thing for those that persists and do all the dreading things they ask for (lots of documentations and paper work.) Some seller send us people because they know that we can help them pass the NACA challenge and also willing to give references.

For us as a very small real estate office using NACA, we are unable to make a decent profit since naca has a lot of limitations. It takes a lot of work to be qualified by NACA. Most people don't want to do the work or don't have the time to get their file and all together. Anyhow, buying a home is not easy, even if you have a lot of money and can buy cash. We call most of our clients frequently, help them in every thing including cleaning their credit; we take them by the hand.

As for now we are restructuring in order to be able to help people and make some profit. But we will offer more alternatives to NACA for our clients. Also, most people that use naca is because of imperfect credit or they want no down, no closing cost and a very low interest rate. That is the very good part of the deal. Most people are very skeptical until they move into their new home or see their friends into one. They often say, if they can, I can. If you ask around you will find someone who bought with naca no far from you.

I do think that NACA does not take care of its employees. They are overworked and sacrifice their family time. They have a high turnover. The paid may be average considering the large hours they give.

Good luck in buying a home. If I could be of any help contact me at lorenvisaez@yahoo.com

I purchased a home using NACA in December 2010 so I became a real estate agent helping others through the purchasing process. Is NACA an easy process? Absolutely Not! Can it be done? Absolutely Yes? If you live in New York and would like help get some help with purchasing with NACA, please email me at mzsherwood@hotmail.com.

I purchased a three family home and I have a 2.375 interest rate. NACA has been a blessing to me and I'm willing to work with people who are determined to get past all the red tape to become a NACA home owner.

I have been dealing with NACA in Charleston,SC and have been told that they are not processing any loans at this time, actually since January of 2011. My husband and I are due to be out of our lease in our apartment in two months and it seems like we are going to be stuck unless we go through a different process. This is very frustrating when you have your end covered and they dont.

I have worked for NACA for three years as a mortgage consultant. Bruce Marks is the CEO of NACA. I like to refer to him as Robin Hood. He does not steal from the rich and give to the poor. He beats up the rich to stop taking advantage of low to moderate income people.

Home Save Program - All services are completely free!!! If you know of any one who is feeling threatened of foreclosure in any way. From, they are current now, but are un-sure if they will be able to afford their payment when their interest rate adjusts. To, they lost their job a year ago and are 10 months behind on their payments. NACA will negotiate and advocate on their behalf with their current lender to have that lender reduce the borrowers payment to a payment they can afford. This program is not interest rate driven. It is affordable payment driven. The lenders/servicers are finally figuring out, they are much better off reducing someone's payment to an affordable payment and making a fair amount of interest, then they are foreclosing on them and losing 10's of thousands of dollars. We have contracts with over 90% of the major lenders/servicers out there.

You are going to read forward about some people complaining about NACA. Please remember, we are not their lenders/servicers. We can not force their lender/servicers to restructure or modify their borrower's mortgages. All we can do is continue to applying pressure and keep advocating on the borrower's behalf. We do tell everyone to continue to advocate on their own behalf by contacting their lender/servicer's CEO. We also recommend they contact their local Congressman and Senator.

I truly wish we could provide everyone a sucess story. Believe me there are plenty of good ones. But, once again, we can not make the borrower's lender/servicer restructure or modify everyone's mortgage to an affordable payment.

I can't even tell you how disgusted I am with this company! My husband and I are patient, hard working professionals and we were duped by this organization. Our counselor's mortgage license expired before we had our clear to close on our loan and we needed to fill out a whole new mortgage application. ARE YOU KIDDING ME? The legal reprocussions of this should have been a reason enough for this "non-profit" to get their act together. But no, we are now working on our 2nd extension on our P&S agreement and we still have no clue when we will move into our home. I am warning everyone who is reading this: this company will take advantage of you and your situation and give you promises that are not even possible. They will not let you talk to Bank of America and will hide behind them as the reason why the issues are not resolved. My husband met Bruce Marks the other day and he assured us it would be handled, so far nothing.
PLEASE DO NOT USE THIS COMPANY!!! UNLESS YOU WANT TO BE SO STRESSED OUT THAT YOU CAN NOT WORK, SLEEP OR EAT!!!

Oh yeah, NACA is only going to help you at best by going over to where they are presenting themselves with the various banks to help determine assistance for a home modification program. In my opinion, they are a waste of time, 'cause i tried and tried myself plus submitted the documents they wanted and made phone calls which they do not return and i realize that the best way to get the bank's attention is to "sue them" and go pro per, yes at this point is where you get best attention, provided you can keep up this drama...

Yes, we went with Naca after paying a loan rep. some upfront money and never saw this person again. We have been with Naca for 1 year and are finally closing after 3 months of a trial loan. We are content and you just gotta be patient but they do represent at least for free, no mortgage fraud here.

NACA is shady in the way they do business. They claim to be a non-profit but they really aren't. Stay away from NACA!!!

I heard of Naca about a year ago from an Aunt who was helped by Naca. They dropped her mortgage payment lower and she is happy with them. I am currently looking to naca for assistance to lower my payments and hope they can help.
But I fear my income may be too high for assistance if they look at gross. Does anyone know what is too much income?

Wizard I am happy to hear you are trying to take preventative measures but NACA helps those in dire situations. You may be able to get a refinance on your home if what I read from your statement was correct from a regular bank.

I have clients who's homes are under water AND who's credit score has been tanked AND they have a very small income or worst yet looking at their unemployment being stopped just shortly or their home is already on the sheriff sale lists.

These people are the ones who have a few dings on their credit through unforseen circumstances like becoming suddenly ill, losing their jobs, or the mortgage they though was a great mortgage turned out to be a predatory loan and suddenly they were over their heads.

NACA was set up to help those people; people who couldn't or didn't know how to fight for themselves. NACA is not in the business of refinancing mortgages. I have seen cases where the mortgage holders (these banks) will not work with the mortgagee because they are current on their mortgage and have a significant amount of income even though they have way too much debt. It is not NACA's fault if those banks don't want to work something out with you.

Though your situation is not perfect it seems as if you have a few more options than some others who are in dire situations. Not saying your situation isn't worst than others yourself, just that it could be way worse. Some options I would look at would be to talk with a Financial Counselor and have them help you to reduce your debt in a timely fashion and create a budget for your household that specifies where every single dime goes of your income and where changes can be made.

NACA educates their clients on Finances and understanding how to stay financially fit for a lifetime not just today and you receive your mortgage and the following month after moving into your home you can't pay the mortgage. (It happens!)

Most folks don't understand the reason NACA came to be and their mission; NACA will not just give loans to give them...they do try to help all those persons who come to them for a home loan modification, though some just can't be helped.

Wizard I hope everything with your family goes well and you never have the need for NACA as that would mean something tragic has happened in your family...but to that I am confident to know that NACA would be there for oyu as well as situations can change on a daily basis. So don't hesitate to come back to NACA should your situation change.

You may contact me at anytime with questions.

Your Trusted Advocate,

Kelli Glover
Keller Williams
Direct: 216-272-3877
Fax: 440-808-9344
Email: kelliglover@kw.com

Real Estate Professional
Your Trusted Advocate; Expert Customer Service, Proven Results!

I submitted everything to NACA and had my phone interview and was declined. I have a job, have a 30yr fixed mortgage, have a 750+ credit score, and havenever been late on a payment ever. I wanted to get a better rate and save a couple of hundred or so per month. I also have a spoecial needs child at home who is permantley disabled and costs. I was told I had too much liability that my monhly epxenses exceeded my income and I would have to reduce my expenses and raise my income. They offered a forebearabce which I declined. I dont understand, I wanted to practice preventative measures. How do all the low income, unemployed etc.. get loan restructure? WHat about middle america? I am just totally confused and pissed off. Who isnt upside doen? Who doesnt have high monhly expneses. I was told to lower my families food bill, get rido fcabe and interenet 3 necessitites in todays world.

I’m Mr. Lacayo and I had the opportunity to assist in Florida twice to NACA event one in Miami Beach, last April as the latest in West Palm Beach. When you attend an event that brings together hundreds of thousands of people troubled by the imminent danger of losing your family home is difficult for any organization to make everything perfect and satisfy all attendees as it is obvious that each of the cases based entirely different type of loan, property, income, bank, ect.

In the event of Miami Beach for several reasons we could not obtain a loan modification but despite this we got the opportunity to feel supported by NACA Through his advisers to pursue a plan of action, alternatives and insist. the loan restructuring which got in the current events in West Palm Beach last Sunday, August 29, 2010. Our monthly payment was reduced by $ 1,061.00 thanks to qualify for a program available according to our situation.

It is important to the peace that can give to have on your side someone with knowledge of programs and consumer rights as we have and especially if that assistance does not cost you more than the effort to invest time to attend these events and That has a name: NACA. A through me experience in this process of modification I was able to telephone or personal interview with directors and staff of NACA and one of the things that most impressed me was the availability of listening to my concerns in this process whenever I need it, it certainly took me to wait many hours in the event or many days to wait for my appointment with any phone or shift counselor.

I don’t know Mr. Bruce Marks, but I hope to have the opportunity to thank you personally for myself and my family the wonderful idea of being the founder of NACA and bring help and hope to many distressed homeowners and education for new buyers. I know God will give him and the directors of NACA wisdom to learn from the experiences and mistakes as well as negative comments from some unhappy former ex-employee or any of those former mortgage broker who no longer make a fortune by exploiting the pocket less affluent.

NACA Forward, forward Bruce. Thanks for the help. May God bless you.

Lacayo Family
Miami, Florida.

Bruce -

Contact your State's Attorney General's office. I suspect they will know exactly how to advise you.

Best of luck,
Thom Colby
Broker / Owner & Certified HAFA Specialist
Thom Colby Properties
Newport Beach, CA
Moving Lives Forward (TM)
We NEVER DOUBLE-END a Transaction in our Brokerage. There is NO benefit to the Seller or Buyer but only benefits the Agent.
888-391-5245 Direct Cell
THOM@THOMCOLBY.COM

My name is Ms. Jimenez and I attended the NACA event in West Palm Beach , FL. I have personally met Mr. Marks and have seen his staff work hard at the event. I was treated with respect and NACA helped me thru the process. I don't see where you get off saying that Mr., Marks doesn't care about the homeowners!!! He is here and brought the banks to help us, the homeowners KEEP OUR HOMES. The words from his mouth were "We are here for you”, and has proved it by coming back to West Palm for a second time. I would like to know what company you know that has never gone thru customer service issues. I got a great solution with my lender and walked out with my modifications documents......THANK YOU NACA! I think that you are just a disgruntle employee and are trying your hardest to discredit an organization that employed you at one time. You should really move on and STOP discouraging homeowners that are trying to save their homes. LETS GO NACA KEEP DOING A GREAT JOB !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

NACA WE Love you Like I just posted I was in an adjustable mortgage our first home and was taken for ride yes you MUST have patience NACA will work but keep in touch with them as they have the link to your Bank I was able to email my bank all the time when before they would never talk to me because I was behind I have save almost 700.00 on my new mod. now it will be PITI will all be included they way it should have been in the first place. And LITTON is my mortgage company I wish you all the very best but just have faith.

NACA need this information not to steal it or anything this is for STAT purpose and to process your info I will bet you anything you want NACA is NOT a scam. I have been to their meeting to lower my home mortgage both in Atlanta and Tenn. My bank is a part of NACA and what they ask for they need it my process as been long but keep in mind my husband lost his job and I fell behind in payments. Am here to tell you today i have gotten exactly what I been waiting for they put the pressure on my bank to fix it and we have come to a positive agreement and I am truly happy about now am in a fix rate 3.8% what else could I ask for. You must keep in touch with NACA and all time I think NACA was never ready for the amount of people that needed their help and as been working to fix alot of the problems to serve us. Remember NACA as been around I think 28 years or more it was the best kept secret they do not place ads just word of mouth. Everyone please hand in there with them they are the real deal. they save my dream!!

We went to the seminar in NYC in Feb., 2010, have seen 3 different counselors, turned in paperwork almost 3 times. This is an extremely frustrating process. I have even had to write a letter stating that I would not be interested in purchasing a home I owned and sold ten years ago!! WHY???? We have paid all open balances off about 4 months ago and it seems like were getting the run around. We keep getting asked to turn in papers that were scanned into their system twice already. What are they doing with out paper work?? We even had to resend a bank statement b/c they couldn't see the URL..WTH?? For 6 months of frustration I'm starting to think it's not worth it...

We were looking at NACA's website today and started to fill out the information, which included social security number, race and religion. Why in the world would they need this information? It is an HTTPS website so I guess it was okay to enter the social security number, but why would they need to know our race and religion. Isn't it illegal to base the outcome on race and religion? Then I started to do some research and looked up "NACA Scam" and came across several blogs. I'm glad we did not submit the information they were looking for, because based on everything I read it sounds like a financial nightmare.

A REMINDER FOR OUR MEMBERS WHO STILL HAVE QUESTIONS AND CONCERNS:
The Neighborhood Assistance Corporation of America (NACA) is a non-profit advocacy HUD certified community and home ownership counseling agency. NACA’s confrontational community organizing and revolutionary mortgage product have set the national standard for effective neighborhood stabilization programs. Our services are FREE. NACA has agreements with most all of the major Servicers in the country and relationships with the smaller Servicers. These agreements also extend to the major investors such as Fannie Mae and Freddie Mac.

Our Counseling Center will walk the homeowner through their budget and determine what the affordable mortgage payment is. Once the homeowners file is complete with documents, proposed payment, the package will be sent to their Lender/Servicer. Once the servicer reviews the proposal and sent an offer back to NACA, we will than go over the offer with the homeowner if it is requested. If the offer is not acceptable to the homeowner, NACA will advocate for them for a better offer within the guidelines of our agreements. NACA's success rate is the best in the country and worth a try! Please go to http://www.naca.com to start the process or call 888-404-6222 to speak to a NACA Representative.

Also our goal is to have a method for our members to interact, share stories while providing NACA the ability to improve our Customer Service via your feedback.

We have launched The Official NACA’s Public Forum http://forums.naca.com/forum

Our forum is being monitored by NACA Staff and you will receive assistance and direction per your request.

Keep in mind that the forum is NOT a replacement for NACA Counseling. If you need to schedule an appointment to speak with a counselor, please do so through the main site: https://www.naca.com/ and logging into your Web File or call 888-404-6222 to speak to a NACA Representative.

Please also keep in mind as these forums are public in nature, DO NOT POST your NACA ID, password, email address, Social Security Number or Tax ID in these forum. Please also keep our forums free and clear of any profanity, racism, rude language, and inflammatory comments.

Thank you, and enjoy our NACA Public Forum http://forums.naca.com/forum

NACA has almost made me have a nervous breakdown and assisted in my family almost becoming homeless. I got involved with NACA in Aug. 2009, it is now June 26, 2010 and my family has already invested about $1400.00 into the process and still no closing yet. Not to mention I gave my current Landlord our notice to leave and my family has nowhere to go in 4 days (6/30/10)... AND still no CLOSING!!! And the seller of the home we are trying to buy informed us that because NACA is taking so long they have to put the house back on the market!!! My experience with NACA thus far has been full of incompetence!!!! NACA Nonsense!!!

This is an amazing story of how one organization that calls itself a non profit has managed to break every labor law in the country by employing minority workers, make them work long overtime hours with no breaks and not pay them. All this to be able to collect millions in taxpayer money, grants from the federal government, millions from Bank of America and other banks to enrich themselves. Worst of all: ....This organization does not do anyhing for the homeowner. How many hundreds of folks have wasted their time and money trying to get a modification or a home loan because of something that they heard on the internet or in their community only to later realize that this is all a huge scam because it is impossible to get a call returned and it is impossible to be able to even make an appointment!!!!!
All this while compromising people's financial documents, credit reports and sensitive information by just throwing our documents in the thrash!!!

The Neighborhood Assistance Corporation of America (NACA) is a non-profit advocacy HUD certified community and home ownership counseling agency. NACA’s confrontational community organizing and revolutionary mortgage product have set the national standard for effective neighborhood stabilization programs. Our services are FREE. NACA has agreements with most all of the major Servicers in the country and relationships with the smaller Servicers. These agreements also extend to the major investors such as Fannie Mae and Freddie Mac.

Our Counseling Center will walk the homeowner through their budget and determine what the affordable mortgage payment is. Once the homeowners file is complete with documents, proposed payment, the package will be sent to their Lender/Servicer. Once the servicer reviews the proposal and sent an offer back to NACA, we will than go over the offer with the homeowner if it is requested. If the offer is not acceptable to the homeowner, NACA will advocate for them for a better offer within the guidelines of our agreements. NACA's success rate is the best in the country and worth a try! Please go to http://www.naca.com to start the process or call 888-404-6222 to speak to a NACA Representative.

Also our goal is to have a method for our members to interact, share stories while providing NACA the ability to improve our Customer Service via your feedback.

We have launched The Official NACA’s Public Forum http://forums.naca.com/forum

Our forum is being monitored by NACA Staff and you will receive assistance and direction per your request.

Keep in mind that the forum is NOT a replacement for NACA Counseling. If you need to schedule an appointment to speak with a counselor, please do so through the main site: https://www.naca.com/ and logging into your Web File or call 888-404-6222 to speak to a NACA Representative.

Please also keep in mind as these forums are public in nature, DO NOT POST your NACA ID, password, email address, Social Security Number or Tax ID in these forum. Please also keep our forums free and clear of any profanity, racism, rude language, and inflammatory comments.

Thank you, and enjoy our NACA Public Forum http://forums.naca.com/forum

NACA is a scam!!! Bruce Marks made over 3.1 million last year as his payroll. He hires people in the area, gives them a script and let's them get valuable information for homeowners. He is listed as non-profit only because he donates back to the community. I am a professional negotiator working for myself, and I have received 4 NACA files which were never worked. Two of them went into foreclosure and were sold. Two are up for auction. And they do charge the client!!! All four of my homeowners paid over $4000 per deal and the price of losing their homes. Watch out for NACA, even the banks are frustrated with them. Ask BofA, they are disgusted with NACA deals!!!

SCAM!!!!!! WE just spent money we did not have to go to the "Save the Dream Tour" in Atlantic City, NJ. What a joke! From the beginning of our experience with NACA in DC at the mandatory orientation, to the joke of a counseling session where all they did was scan our personal documents, we told them that our loan was sold to a private lender by BOA- Hudson Valley Savings and Loan. We told them that Hudson refused to modify twice. NACA ASSURED us that when we had a face to face with BOA they did have authority to approved the restructuring since they were still servicing the loan. Well, BAD advice! We got the same nonsense we have been getting from BOA for two years over the phone and through email. "We have to submit your package to Hudson Valley because they have to make the decision not us" Now we got that message face-to-face!
Who trains these so called loan counselors at NACA? We would have NEVER spend money to go to Atlantic City if we knew that BOA did not have the authority to make an "on the spot" decision.
Now we cannot access our NACA file online. This is very suspicious. I received at least 5 emails and 5 phone calls from the NACA office encouraging my husband and I to get to the Save the Dream Tour. Now I believe it is because they get paid from the government just to process paperwork! They have the best Brother fax, scanners and printers I have ever seen! Scanning Scanning Scanning for over 5 days unsuspecting dupes's bank account and personal info, just to make it seem that they are doing what is required by their non-profit status to continue to get funding.

DO NOT EVEN THINK ABOUT DOING ANYTHING WITH THIS "ACORN" look alike! I am contacting my senator and congressman and lawyer! Who knows what kind of nuts now have access to our info and would put us in a more serious situation financially!

it is legit, however, the issues stated below are certainly the norm if not understated. NACA is not professionally run and they generally create more problems than they solve. A friend and I both started the process in April of 2009, after a 120 day escrow he did close on a property, however, after demanding that I change the terms of my escrow 20 days into the process to meet some new demand that NACA be the Escrow Agent on all sales, I decided to go with an FHA lender. The terms are good, but you have a less than even chance of actually closing and they genuinely could care less about the people in the process. If you have no other choice, it may be a means of getting a loan, however, if you can get funding from ANY other source then save your time, trouble and frustration and leave NACA alone.

NACA is legit!

I helped them get started here in OHIO and there were a host of hurdles to cross...but we made it and I was able to get the very first Ohioan a NACA mortgage serviced by Citigroup.

She is very happy to this day!

Anyways with anything good you have to fight hard to get it and you have to jump through a lot of hoops for their staff and contact them often to be sure they haven't lost your file or have been too busy to work on it.

Should you have questions you can call me...I keep in touch with the main office regularly and have helped others (both Realtors and clients) all over the US to navigate NACA.

Kelli Glover
Keller Williams
Direct: 216-272-3877
Fax: 440-808-9344
Email: kelliglover@kw.com

Real Estate Professional
Your Trusted Advocate; Expert Customer Service, Proven Results!

First, NACA is legitimate. As a Realtor, I've worked with the program several times in the last five years. Whether or not you should use them depends on a lot of factors. This is why you're getting such a variety of answers from people. I've worked with NACA as a seller's and buyer's agent (mixed experiences) and as a homeowner trying to get a modification.

If you're a homeower who needs loan modification, I would recommend that you work directly with your lender (Loss mitigation or FHA department, don't talk to collections or customer service). I tried this initially, and got nowhere, which is why I got involved with NACA. NACA is overworked and understaffed, and many of the staff are volunteers who are not as knowledgeable as they should be. They also do not have any power. The banks and investors are doing what they want to do.

The trick is to find out what will happen in advance. Do your homework. Call back several times and talk to several people to ensure you have the right answer, whether it's your lender or anyone else. If you do enough research on the Internet, you'll find out what the experiences have been for people who have your same lender / type of loan / income situation etc. For example, if you have an FHA loan, Ginnie Mae (the investor) will deny you for a modification or forbearance unless you are 90 days behind. The banking industry and government are making up things as they go along, so there's a lot of bad /conflicting information out there. Try to get recent information.

If it's an option, I recommend short sales over loan modifications - easier on your credit. There's also a more defined process for short sales.

I also recommend to people that they contact their political representatives. This whole process could be handled much better. Making the modification and short sale processes easier would reduce the foreclosure inventory. There's more incentive to foreclose than negotiate. This needs to change.

I purchased my home with the help of NACA 6 years ago maybe 7. Keep in mind the economy was different then and the NACA seminars were not as large as they are now so bigger locations such as churches, etc. were not necessary. I have been very happy with NACA and I have no complaints. I too had my doubts before I started the process. The amount of time it takes to complete the process is up to you there is no time limit. The amount of time you take to have all of your paperwork in is the amount of time it will take to finish. If you procrastinate the process will be slow. If you wait until next year to have all your documents the process will take a year. I too needed NACA to assist me with my mortgage when I lost my job. I contacted NACA and they just wanted me to submit a budget of my expenses and explain my story. The point of this process was to help me budget and plan so I will be able to pay my mortgage after they assist me.

I bought my home for $135,000 in Georgia (the suburbs of Atlanta), (keep in mind the economy was better then). My mortgage is from Bank of America. Bank of America's interest rate for its customers were 5.25% and since I was working with NACA my interest rate was one percent less, which is 4.25% fixed 30 year mortgage. NACA wanted its memeber to show a savings in thier bank account of $2000. The $2000 is still my money but it also showed I was able to save money therefore able to pay my mortgage. This taught me and gave me an incentive to save money. Rememeber the purposeof this program is Neighborhood Stabilization and fighting against predatory lenders.

At closing my out of pocket was only $869.00 which I paid from the $2000.00 savings and since I had the savings I was able to have the deposit for my utilities to be turned on and buy blinds for my windows. The process may be long for some but it is worth it. Prior to NACA I didnt have any money in the bank and when I did lose my job NACA was going to assist me but I did not need their assistance because my mortgage was so low. I pay $858.08 per month and that includes my taxes and my home insurance. MY mortgage is less than what i was paying for a one bedroom, 1 1/2 bathroom, fireplace apartment with patio. Now I have a 4 bedroom , 2 1/2 bath, 2 car garage, dinning room, fireplaces, high ceilings and I purchased it new. Again i remind you the economy was different and houses cost less. I hear Naca does home modification loans. I'm going to have to check it out. If I have to stand on a long line for a seminar so what, its worth it! Thanks!

i'm trying to find out the same ... can someone put an answer together? It sounds too good to be true, but I want to believe in the American Dream.... has anyone recently received any $$$$'s ?? Let us know!! Thanks... linda in NY