Financing in Middletown>Question Details

Clarissa Han…, Home Buyer in East Stroudsburg, PA

Has anyone went through the NACA program in New York??

Asked by Clarissa Hansen, East Stroudsburg, PA Sun Jan 31, 2010

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27
I purchase a home using NACA in December 2010.Send me an email if you live in NYC and need help with NACA. I purchased a home with NACA and although I know the process can be a pain, the reward at the end is really good. For anyone in New York area, send me an email and I'll help you. I became a real estate agent recently because I wanted to help others through the NACA process.I'm really sorry so many people are getting stuck in the NACA system. I was able to purchase a three family at less than a 3% interest rate. The program is real but inefficient. Patience and determination are definitely needed atributes. mzsherwood@hotmail.com
1 vote Thank Flag Link Tue May 3, 2011
Hello Natalie

I live in Brooklyn New York and I would love to talk to you more about working with NACA and absorbing any knowledge you would be able to give with your experience purchasing your first home. My email is Jeffrey.d88@gmail.com
Flag Mon Dec 21, 2015
Hello Natalie, I live in New York and I am very interested. my email is marieg127@hotmail.com. Please send me any information you have that can help.
thank you Marie Gill
Flag Tue Dec 15, 2015
Hello Natalie,
My husband and I went to the first step which is homebuyer orientation workshop.
But we are looking for some help on the process from someone who already knows NACA.
My email: franciellislopez@gmail.com
Flag Sat Sep 12, 2015
Hello Natalie, I'm interesting in purchasing possibly a 3 family home. Here's my email address; jsimo22@gmail.com. Hope to hear from you soon.
Flag Mon Apr 13, 2015
A friend of mine just old me about the NACA program. My husband and I earn decent wages. However our credit isn't great. We currently live in Harlem and were hoping to purchase a home over the next 2-3 yrs, with a realitic savings plan. The NACA programs seems to be able to help us acquire a mortgage with no down payment or closing cost, which could expedite our dream of home ownership. If you could advice us on how to move forward, etc. any help would be much appreciated. Thanking ou in advance.

Joanna Padmore- Sow
Flag Mon Sep 15, 2014
Hi Natalie,

Does NACA help with improving your credit score during their process...and/or is this part of the program?
Flag Tue Feb 25, 2014
wood like to buy a one family home in Ga by july of next year
Flag Wed Nov 20, 2013
hi again just sent my email i think i forgot to put sweettobago4
Flag Wed Nov 20, 2013
my email sweettobago4@gmail.com i wood like some insight on the program thank you in advance
Flag Wed Nov 20, 2013
Hi,in Diane
I'm interested in buying a condo.....do this program offer condos?
Flag Mon Nov 18, 2013
Anyone Need help please contact me at Lendawg32@gmail.com
0 votes Thank Flag Link Wed Dec 9, 2015
No but I will to go to the New York
,one to learn about it more
0 votes Thank Flag Link Wed Jan 14, 2015
I am in my final steps with NACA but need a real estate agent that is familiar with the NACA procedures in Orange County, NY
0 votes Thank Flag Link Wed Aug 6, 2014
Do you have a Mortgage person you can recommend, I did hear that the process is tedious, also which Real Estate Company you work at?
0 votes Thank Flag Link Tue Dec 17, 2013
Which company you ended up going with? With good credit score?
0 votes Thank Flag Link Tue Nov 5, 2013
Yes. Taxes are high no matter which County I choose in New York that is close enough with a commute to Manhattan (where I work). I'm looking for a starter home under $400K in areas where taxes are under $10K.

I wish NACA would raise their purchase limits to $400K for single family homes. It would make it so much easier. I'm glad you found a home though.....and 3.5% is a great rate. Which county did you buy in?
0 votes Thank Flag Link Tue Nov 8, 2011
You will definitely need lots of luck for Long Island!!! The taxes there are extremely high!!! Don't forget to factor that in as well!! Maybe New Jersey??
0 votes Thank Flag Link Tue Nov 8, 2011
Thanks for giving an update Clarissa. I'm going on 1 year with the process, and my only problem is finding a house within the NACA price limit. The only reason I like the program.........is the buydown. I have looked at over 60 houses............and have yet to find the ONE!

I originally began my search in Orange.....then Rockland. But now I'm looking in Long Island. Wish me luck!
0 votes Thank Flag Link Tue Nov 8, 2011
I ended up opting out of the program...it took too long, and were in a hurry to get out of our current living situation. I was upset that we could not go through the process due to its extreme amount of time...sellers that are in foreclosure are NOT willing to wait for NACA to come through with paper work. Same with short sales...and many of the houses we looked at were short sales and foreclosures...Many of the houses on the market right now are in foreclosure, so I don't think NACA is the right program for this housing market, but I have heard that they are great for saving owners that are in distress. We bought our house at a 3.5% interest rate, and we are happy with that!!
0 votes Thank Flag Link Tue Nov 8, 2011
If NACA doesn't help you out you should check out stopthebanksaveyourhome.com They can help you stop Foreclosure! You stay in your Home for 2-3 Years and maje no mortgage payment. You can get your mortgage at a huge discount & Sometimes you might get your home Free & Clear! 100% Legal in all 50 States! Over 3000 families have been helped...
0 votes Thank Flag Link Tue Nov 8, 2011
Hi James I am in Grand Junction and having a problem with my mortgage, they want to foreclosure I am in Arm loan Countrywide and Bank of america transferred loan to other services company and a trust . Trying hard to work with them not results yet . Sb
Flag Sat Apr 23, 2016
Clarissa,

How is your progress going? Have you closed yet? I'm currently in the program also.
0 votes Thank Flag Link Mon Nov 15, 2010
You must use a NACA certified inspector. They do not accept reports from anyone else.
0 votes Thank Flag Link Mon May 3, 2010
no it was a problem waited inline for ten hours no results. than did a follow up call and when i clicked over to take an incoming call i got disconnected and when i got reconnected they said i would have to call back.
i used http://www.ezloanmodifiers.com. Went the traditional route. did a normal modification. I'm not done yet but am in review for a hamp trial mod. painless experience
0 votes Thank Flag Link Thu Apr 1, 2010
I am a NACA approved agent in Minnesota and I had the first NACA closing last month after 7 months from PA accepted. Great rate, great payment, slow, slow, and slow.

Another PA O had, seller canceled after 100 days without a closing.

One I am working right now, it is been 30 days and Appraisal has not been order yet.

I had been told that one of the funding banks (Citi) is very baclklogged and it takes about 30 days to see a file/client. According to them too, others are not as full as Citi. I do not know the truth.

One word for you: Patience. A LOT.

Once you find the property, make sure you request at least 60 days for closing (If seller is willing to wait that long). Order inspection ASAP, do not wait one more minute. Then, met with the Contractor regarding any item to fix required by NACA HAND program. Make sure to sign and accept the bid or the process will stop for weeks, weeks, not days, weeks. I

Best for you, it is a great mortgage if you get it.
0 votes Thank Flag Link Fri Mar 5, 2010
Well thank you inspector, I will keep you in mind when it comes to closing and when I need that RE referral
0 votes Thank Flag Link Fri Feb 19, 2010
Toyawill,

I am not a NACA Home Inspector but they do have a list of their own registered people. I'm also not familiar with their HAND process. I have worked with only one party going through them because I performed a Septic inspection which does not require being registered to be on their list.

It depends where you are looking in NY, but I do know many RE Agents and could possibly refer some to you. There are also many here at Trulia that are very helpful and may be close to an area of your choice.

NY has many great deals the further up you go into the Hudson Valley region while still having commuter train accessibility to the city. I have many clients that are fleeing NJ due to the high cost of living there. They are moving to neighboring NY (pros - commuter trains) and PA (cons - longer commute)

Good luck!
0 votes Thank Flag Link Fri Feb 19, 2010
Well uh duh to me, you are an inspector. Well as an inspector, do you know any realtors in NY? And also, I have read some horror story about the whole inspection process and HAND unit?? Are you familiar, I know I am ahead of myself but I just want to know what I am working with here.
0 votes Thank Flag Link Thu Feb 18, 2010
Well I live in New York (Queens) and my purchase limit is not too spectacular but workable. Are you a NACA approved realtor? I have a friend who is a realtor and he does my taxes but he immediately lost my business when he lied to me about being familiar with NACA and saying that it is an FHA grant and tried to discourage me, I didn't know much then and but know now that this is not correct! NACA is not FHA funded. Anyway, if you are a realtor and are in NY, I would keep you in mind once I am through with this step. I would also be open to the Burlington area in NJ.
0 votes Thank Flag Link Thu Feb 18, 2010
Clarissa,

Hi, we spoke recently regarding this program. It's good to hear that you got a heads up on the NACA program from my previous clients and know what to expect.

I recollect them saying something about lost paperwork. I often hear from many of my clients having this as their #1 complaint. I make it a practice for many years now to tell clients to send any paperwork at least twice and at different times of the day or a day apart if they have previously experienced communication problems at other times during the process.

Toyawill,

I'm not sure where you will be looking for a house, but you may feel free to visit my website to find useful information about home inspections and more importantly, how to find a truly experienced professional vs one who tries to market themselves as one while having lackluster credentials/experience.

Good luck to both of you!
0 votes Thank Flag Link Thu Feb 18, 2010
I sent you a message...but anyway, I am glad to hear of others in NY who are going through it and gone through it. Patience is one thing I am not good at but am willing to to do, if it means I will be a home owner in the end. I recently spoke to a co-worker who is going through the homesave and she mentioned others who she know have bought through them. This is all a relief to me and makes me even more anxious to finish up my task list and get back into the office because I'm still only half way there.
0 votes Thank Flag Link Thu Feb 18, 2010
We just attended the workshop in Feb. of this year and have our first appointment set up next week. We submitted all the online paperwork, and we believe we have all of our paperwork together for our first appointment. I just spoke with some one who bought their house in Sept of 09 and they said it was a tedious process, but would still recommend it to others. They had to resubmitt papers several times due to misplacement etc. (which drove the wife crazy) The couple also went through 3 counselors for various reasons. I was told at the workshop that we need lots of patience...that can be difficult considering many people would like to take advantage of the Home Buyers credit...Before we knew about Naca, we already had an agent and started looking at houses.
I will email you soon..
Clarissa
0 votes Thank Flag Link Thu Feb 18, 2010
I attended a workshop in October '09 for home purchase in Queens. I had a face to face in December '09 and was told three months to qualify. It's a little nerve wrecking, as I have never gone through this and home purchase is a BIG step...Anyway how far have you gotten? I am so nervous because my counselor told me that everyone is qualified, it's all about time and I am happy she was realistic and didn't tell me I can buy a house in a week or so. I am nervous because I don't know what to expect or I'll do something wrong and end up screwing myself.

I am done with most of my task list and am planning to set up my second appointment in March. I am sure there will be some kind of delay or additional information needed because it wouldn't be my life otherwise!

Please, if you have or are planning to start with NACA, please I could use a friend! williams.lat@neu.edu
0 votes Thank Flag Link Thu Feb 18, 2010
Clarissa,

I'm a Home Inspector here in the Hudson Valley and performed an inspection for a couple working through the NACA program. They seemed very positive about the program and their experience at that time. I could probably get in touch with them and ask if they would be willing to speak with you to answer questions that you might have about their experience.

If you're interested, you may contact me through my profile or by going to my website for contact information:

http://www.licensednyhomeinspector.com
0 votes Thank Flag Link Mon Feb 1, 2010
Hi Clarissa,Check with Bank of America.They are working with the NACA programs.Hope this will help you.If all works out let's go and steal a house!There are many good bargins out there.Read below.

Good Luck,
Vince 914-837-8665
Realtor




New York City
NACA. Bank of America works with Neighborhood Assistance Corporation of America (NACA) to provide affordable mortgages to the people of New York. NACA offers homeownership counseling and Bank of America provides special mortgages. Call NACA's New York City office at 1.212.704.9974 for more information. Or call NACA's national office toll free at 1.888.302.6222 (NACA) or visit the website at http://www.naca.com.
NeighborWorks® America. Bank of America works through the NeighborWorks® America affiliates to provide affordable mortgages to people throughout New York. For more information call Neighborhood Housing Services Homeownership Center of NY office at 1.716.885.2344.
0 votes Thank Flag Link Mon Feb 1, 2010
Since opinions are always subjective, why not attend one of their free workshops an make a determination based on your situation.
0 votes Thank Flag Link Sun Jan 31, 2010
From what I read about it, it's an amazing program, people who have been having trouble dealing with their banks have had pretty good experiences with them. The there are some who said that NACA didn't offer any help but in some cases were offered HAMP(which you don't need NACA for), all you need is just some organization and a little perserverance.
Web Reference: http://www.shoookie.com
0 votes Thank Flag Link Sun Jan 31, 2010
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