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?
I originally began my search in Orange.....then Rockland. But now I'm looking in Long Island. Wish me luck!
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
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.
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)
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.
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!
I will email you soon..
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! firstname.lastname@example.org
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:
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.
NeighborWorksÂ® America. Bank of America works through the NeighborWorksÂ® 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.