Home Buying in 37207>Question Details

Sandra, Home Buyer in Nashville, TN

Can anyone give me advice about the NACA.COM program? Is this a legit program for buying a home?

Asked by Sandra, Nashville, TN Mon Aug 25, 2008

The program is called Neighborhood Assistance Corporation of America, they help future home buyers purchase homes at a lower interest rate.

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86
NACA seemed great. My wife and I are both young professionals. We made decent money, but we're not in danger of filling our bank accounts either. We both have excellent credit, but due to high rent costs, we could never quite put away enough money for a large down payment on a home.

Along comes NACA. We do the workshop, schedule our first counselling session and show up half an hour early. Four hours go by and the lady we were scheduled to see still hadn't called us back. We were pushed off onto another counselor who had time. No big deal.

We go through all of our information (we spent a great deal of time gathering the many documents required), the counselor scanned our documents into the system, and then we spoke about what he/we thought our max monthly payment should be. We left feeling good about things.

A week goes by. Then two, then six, then eight. We called several times and were not able to get in touch with our counselor. Which was because he had been let go by NACA due to being arrested for beating his wife. (public record searches can turn up interesting results) Anyway, the lady we were supposed to have seen at first has no idea who we are, probably because she never saw us. We FINALLY get in touch with her and make an appointment.

We come for our appointment and wait an hour, two, four on then some before the lady at the front desk called our counselor on her cell. The counselor said we were not on her calendar. She was EXTREMELY rude with me. Not curt, not short, but EXTREMELY cuss-at-me rude. Eventually, after being equally rude to her, she remembered who we were. We scheduled ANOTHER day to come in. When we did, we were told that the first counselor never scanned our documents into the system (funny, I watched him do it).

We had to do this all over again. Finally, we got that done by faxing everything we had when we got home that evening. Weeks go by before emails are returned and luckily we had been following the budget set forth by the first counselor, which was more strict than what the current counselor wanted, so we only needed to be on our budget for another month and a half.

After we spent our three months on the budget as planned, we scheduled our "second" which was really our fourth meeting to go over the budget. Everything checked out and we were OK'ed to go the buyer's seminar (which was postponed week after week after week until nearly two months later, we finally got to go).

After this buyer's seminar, we were given our "shopping papers" which were something like a pre-approval. We could now shop for a home. Whew, and only six weeks AFTER our lease had run out on our apartment forcing us to live in my sister-in-law's basement.

We find a house, put in a bid, get the contract drawn up...annnndddd......had to submit our paper work again. Now the bank that worked with NACA (we're not even going to get into the inspection rules) has our paper work drags their feet. Our counselor, who is supposedly our advocate, does not relay the needs of the bank for days at a time. Bank says "Hey your fax is too dark, please have them re-submit this form" Two days go by and our counselor sends us an email around 8pm that says we need to re-submit this form which goes through her, then into the system and then on to the bank.

Anyway, safe to say we easily went further than the 45 days the contract had been drawn up for. We ended up getting the house anyway. Through a conventional PNC FHA loan.

So I did some snooping. The interesting part is that NACA counselors get paid per deal they close. BUT. They get paid on a scale that increases as their clients credit score decreases. They get full commission if they help someone with a credit score of 500, but only half if their clients are responsible borrowers.

In my eyes, this does two things.

1) It pushes people into homes that probably have spending habits that a three month enforced budget wont help. IE- people who should not own a home.

2) It gives the counselor incentive to leave certain clients hanging, because they only get paid half commission for helping them out.

I get that NACA as a whole does a lot of good and I agree with their message totally. But a payment system like this fundamentally flaws an otherwise great mission. Not to mention just a tad of customer service would be great.

Ashiida Kahlil can kiss my good-credit-score-having ass.
5 votes Thank Flag Link Fri Jul 9, 2010
So did you get a NACA Loan or did you have to look elsewhere?
Flag Fri Dec 19, 2014
i so sorry to said is true NACA was not in these way but now their customer service is terrible, inaccessible and out the way, NACA help save our home and their attorney still help me but the new personal is complete uneducated
Flag Fri May 3, 2013
I was going to say, go to your Bank and get an FHA loan. I have heard many stories like yours.

I'm glad you got the house,

Soila Thompson
Flag Tue Sep 25, 2012
I have nothing to say about NACA but good things. I had a loan that was adjustable. The interest rate kept going up. The lender said they would work with me, but they did not. I went to NACA. They submitted a proposal in December 2008. The lender did nothing. I called everyone. I hired another law firm. No results. NACA was having big events at convention centers over the country. Several people urged me to try NACA again, including my brother.

Finally, NACA took up my cause once again and saved our home. We had three different auction dates which they were able to postpone throughout the negotiation process. My hired attorney stated there was no paper you could file to stop the auction. Well NACA did it. Thank God for NACA. And Praise God..
2 votes Thank Flag Link Fri Apr 2, 2010
is true NACA help you BUT for buy a home and the new customer service is now LA office is terrible and rude
NACA save my home too BUT the people who did MR Wheeler and Hr.Harris are not longer working with NACA
Flag Wed May 8, 2013
AMEN!!!!! I have my first phone couseling sesson with them tomorrow, and I'm really feeling good about it!!!!
Flag Thu Aug 23, 2012
In response to the $50 per month;

THERE IS NO PMI...

Private Mortgage Insurance is given to every loan on the regular market who does not have atleast 20% equity in the home and that is every FHA mortgage around.

So even when you buy a home you know has over 20% equity the appraiser will only appraise for atleast $1 over purchase price never at the true value (speaking specifically about bank owned properties and short sales).

So you end up paying PMI even though the home has 20% equity.

Now that to me if a farse...

So back to the $50 you only pay it for 5 years some 10 years if over a certain $ amount and you have no PMI it goes into a fund that you can apply for later on in the life of the loan if you fall on hard times. (HOME SAVE)

So I would rather pay NO CLOSING COSTS, NO PMI NO DOWN PAYMENT and $50 dollars a month for 5 - 10 years, and pay less interest even 0% interest for the life of my loan than to do the latter.

Yes not everyone will like NACA but for those who stay the course it is a life changing program. FINANCIAL LITERACY!

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

Your Trusted Advocate: Expert Customer Service, Proven Results!
2 votes Thank Flag Link Tue Feb 23, 2010
NACA just got me out of a 10% ARM with Countrywide that was scheduled to increase from $1700 to $1900 in August '09. My new rate of 4.5% is $1200 and is a 30 year fixed note. It was a two month process from August to October. Every document they requested was gladly submitted. They corresponded mainly through eMail and were very professional in every step of the process. Note: To all you detractors...when you've got somebody that's saying "We're on your side, we want to help you..." just do your part. Don't complain. Do whatever's asked of you, and if you don't understand why...ask. NACA rocks!!!!
2 votes Thank Flag Link Thu Nov 12, 2009
Yes this is a legit program. You will see negative and positive comments. For myself, I was able to close on my home and am very happy because I did not have to put any money down, no closing cost, and my interest rate is only 0.64%. It took some time I started in May and I closed in October. I had to extend the closing two times and I had to make sure that I had a legitimate contractor to do teh repairs who was willing to submitt their information to NACA. My advice, is to make sure that you do exactly what your counselor tells you to do no matter if you have to do it several times. I have had to send certain documents more than once and it does get agravating. But the, toughest part was trying to get a contractor to do my repairs because they are not familiear with the program, since NACA is basically word of mouth. But once I got my contractor in place and all my paperwork in place, I was able to close. And let me tell you, if you have patience, then it is soooooo worth it. My payments are less tahn 1100.00 a month on a 250,000 dollar home. You can't beat that!!!!
1 vote Thank Flag Link Mon Nov 1, 2010
I'm not necessarily sure what Naca considers "Bad Credit" I know that they have worked with some one with a credit score of 400 (not me). I too had a bankruptcy and foreclosed on my home about 10 years ago. Be ready to have your discharge papers, as well as proof that the house you foreclosed on was sold etc. and that you have no further interest in the property. That's what I had to do... IT is a LOONG and tedious process, make sure you dont have to move out any time soon, because you may be in your current home for a year or more with this process.
1 vote Thank Flag Link Fri Aug 6, 2010
Unfortunately, my story is different. I dont know about buying a home through NACA, but I started working with NACA in August of 2009 on the restructing of my current home loan and it all started out very slow. I missed the show in my hometown then I had to do everything online. I finally got all my documents submitted and it still to a few months to contact who I thought was my lender (BOA) which after NACA reached them they only represented what I didn't know was a private investor and BOA was just the middle man. I just ended my process with NACA due to the fact they wasnt able to get anything resolved. This being they don't have a contract with the PRIVATE INVESTOR, its with BOA and they cant negoiate with the investor. Im at a point now of not knowing what is next.
1 vote Thank Flag Link Wed Jun 30, 2010
NACA helped me to modify my loan with Bank of America. I followed NACA's guidelines by submitting all of the documentation requested as well as attend the workshop. NACA kept their promises with me. When I signed up for the telephone counseling session, they called exactly when they said they would. I attended the workshop March 20, 2010 in Ontario, CA and I had my loan modification papers from BOA on April 17, 2010. My original loan was an adjustable that adjusted every 6 months and up to 9.75% so far. My loan was modified to a fixed rate of 4% interest, which included property tax and insurance. I am completely satisfied with my experience and I am spreading the word to my friends and family.

There on thousands of people seeking NACA services and it is understandable that the process takes time or that there is a wait if you call them. I was patient and my patience paid off. You must be diligent and not give up. Check their website regularly for the status of your case and help them to help you. You cannot expect to get something for nothing.
1 vote Thank Flag Link Tue May 18, 2010
TO: Litchfield Sandt

Some banks are more willing than others to give modifications to its mortgage holders. NACA can't guarantee anyone will be accepted for a modification of their current loan. They do try which is more than I can say for other organizations...NACA is not a miracle worker and now that word has gotten out about their service there are literally hundreds of thousands of people who want to get their help.

There are other organziations out there in your city to help just like NACA does if a person doesn't like NACA then they can find another organization to help them. It will involve looking on the internet and searching for them. BE PROACTIVE about your own situation and seek help through another organization or give it one more try with NACA by calling the local office and asking the Home Counselor about your file. If you go elsewhere you will make room for the other thousands of persons who would stand in line for days to try and see if NACA can help them.

It is beautiful when they can help and tragic when they can't but we have to understand that they ARE trying to help. Everyone's situation is different and each situation is considered.

These mortgage lenders who NACA is trying to get to modify these loans are entities in themselves and have their own set of rules and challenges to overcome...and not all want to modify the loans though there are some banks that have been more accomodating than others.

Maybe looking at some other organizations in your area would help you attain the modification you so desire...though not guaranteed or promised but atleast they would try.

You can call me at 216-272-3877 if you would like some help trying to see whether we can talk with a Home Counselor in your city to see what they are doing to try and help you get the modification you need.
1 vote Thank Flag Link Sat Apr 24, 2010
We are looking for one legit in the area. Long Island, NY..but don't know where to look. Any suggestions?
Flag Sun Oct 26, 2014
I am a NACA member (meaning, I bought my home through NACA) and am guaranteed that I will not lose my home...at least that's what they tell you. I lost my job Feb 2008 and called them numerous times only to get no return phone calls. I attended some seminars and was promised that someone will call me back, but no one ever did. I sent emails which were ignored. I filed for Homesave and was told I was not coming up as a member, but yet they are taking my $50 monthly membership dues. I was given names and numbers, only for them to blame the bank and say it's the bank's fault because they did not notify NACA of my being late on my mortgage. The agent from the MAPPS Dept tells me that the bank can't foreclosure on me or send a letter of foreclosure without contacting her. She told me to ignore the phone calls and not to worry that I will not lose my home..knowing I haven't been able to afford my mortgage. I was guaranteed not to lose my home and the $50 membership fee goes towards financial help from NACA in case of job loss. I have had no help. My rep is ignoring my emails. NACA blames the bank and the bank says they don't deal with NACA. I"m about to lose my home because there are idiots working on both sides, NACA and the bank. I just received a Notice of Default and Election to Sell Under Deed of Trust. Looks to me like NACA is in breeach of contract. They have the nerve to to picket the bank's CEO's homes but yet they are just as bad if not worse. Take membership money and hang us out to dry. I've been put through hell with NACA from the purchase and now until the day I lose my home. I'm a single mom..worked my ass off and paid off a $19,000.00 divorce and saved money to buy a house...with only receiving $950 child support in two years...onlly to have have all my hard work flushed down the toilet because NACA employes a bunch of incompetent idiots. If you're up for high blod pressure and anxiety attacks, go with NACA, otherwise, save your sanity and try to find other first time home buyers assistance programs. Yes, they help people, but at the same time they screw many others. They're just as bad as the banks.
1 vote Thank Flag Link Wed Apr 21, 2010
Hello Everyone!

I wanted to put this infromation out about NACA.

The truth!

NACA is slow and yes some of their employees are hard to deal with but as a Real Estate Professional who had the very first buyer to close a deal through NACA in Ohio I have to say that is was worth all the trouble.

I keep in regular contact with my buyer who purchased through NACA and she is still very happy with her purchase.

Your Realtor needs to know the process...I went to so many of the Homebuyer workshops that I could give their workshop without hesitation and sometimes better than those who worked for them. Anytime I had a client going to a workshop I attended.

NACA is very committed to helping people no matter the nationality whether you are an A+ buyer or a C- buyer. They treat everyone the same. I have seen it first hand.

It took almost two years to get the first person to close a deal with NACA here in Ohio...we went through about 4 Home Counselors before stabilizing but anything worth having is worth fighting for and if you have a committed Real Estate Professional then you are in the right place with NACA.

I do not like that NACA expects the Realtors to do so much but asks us to give our bonuses to the buyers so in that respect I know NACA wants to see the very best outcome for their buyers and your realtor if they choose to work with the NACA buyers should do like any good professional and help to remove all obstacles by communicating regularly with the seller and his/her agent.

Our home closed in 45 days which is not bad at all.

I paved the way for others and made their road easier, I personally found the Title/Escrow Company, the Home Inspectors, and the Contractors which NACA approved. It was not easy because NACA's requirements were outrageous but I was committed to service for my buyer.

Again it is all in who you have lobbying for you. Find the right Realtor who is an advocate first in their own lives then they will know how to advocate for you!

I wish you success in your search and all others wishing to use NACA.

Should you have any questions specifically about their processes you can contact me at any time at 216-272-3877.

Sincerely,

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

Your Trusted Advocate: Expert Customer Service, Proven Results!
1 vote Thank Flag Link Tue Feb 23, 2010
No. They are not helpful. They will have you going on and on for months. I tried to fix my morgage they told me that they did have an answer from my lender with in a day. I have been on the process for 11 months and they just told me that the case was close. NACA told me that the bank send me the documents with a modification for my loan for me to sign and that I never send them the documents back. I told NACA that I never received the documentation.NACA said it was nothing they could do so they close the case. I did everything they ask for I even voluntered on their programs. They said that because I was giving my time to them now I was a VIP (very important person) and that my case will receive priority. I was on the phone many times waiting for more than 3 hours trying to get answers for my case every single time a different person answered not knowing what was going on. Some of them were very nasty. NACA told me 11 months ago that the bank have accepted solution for my case that they will give me a loan with a 2% interest. 11 months after they told me that the bank close my case and there was nothing for them to do because they were a non for profit organization and bla, bla NACA is a scam they won't help you.
1 vote Thank Flag Link Mon Dec 14, 2009
If you are a homeOWNER wishing to sell your home, RUN from any deal with NACA! Take my advice--DO NOT DO BUSINESS WITH NACA. Once, they get your house "under contract," they will take MONTHS and MONTHS to close on your house. They are unresponsive to the seller, the seller's agent, the buyer, and the buyer's agent. My house has been "under contract" with NACA since April and we still don't have a closing date! They are bad news if you are a seller. I will never consider selling a house which involves them again.
1 vote Thank Flag Link Mon Dec 7, 2009
Wow, sorry to hear that .
Flag Sun Jul 6, 2014
A BIG thumbs UP!! My husband and I were losing our home...NACA restructed to 2% for the life of the loan!! We attended the recent Los Angeles "Save The Dream Tour."
1 vote Thank Flag Link Wed Sep 30, 2009
It is a great program but you need to have the patience of a saint!!

If you do complete " the program " you may purchase a home with as little as half a percent for thirty years!

Good luck making it threw the hoops you will be requested to jump through!
0 votes Thank Flag Link Thu Jan 8, 2015
NACA does work. I had my initial appointment on August 15th 2014. I was completely approved though their program by September 5th 2014, and went under contract on a house on September 18th, 2014. Even with my quick approval I still had to resubmit forms multiple times and there were two times I had to physically bring them to the office. I am currently on my second extension to close but all the tough stuff is done. I am waiting on the HAND department to approve my re-inspection report. It can be frustrating not having an exact closing date and being at the mercy of multiple departments having to approve items, however, I am extremely proactive with my counselor and realtor. I will end up closing with an interest rate of about 1.85%. I have decent credit but not great enough that would qualify me for a decent loan. I will say I went through the process quickly because I had actively been trying to fix my credit and do not make late payments on accounts.

Since this is not a traditional check your credit loan they will ask for A LOT of documentation. They will ask for that same information AGAIN. The good thing is they give you a folder to keep all those documents in and filed so if you stay organized it can be completed quickly. I am not a patient person by any means so I email my counselor constantly. I know that when it is done it will totally be work the extra 18 days of extensions. They take the time to make sure your house will not have any issues immediately. It is worth it.
0 votes Thank Flag Link Mon Nov 17, 2014
Contact your local direct lender mortgage broker for more information.
0 votes Thank Flag Link Thu Sep 4, 2014
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0 votes Thank Flag Link Wed Sep 3, 2014
I have a simple propsal. If you don't have great credit or can't get a good interest rate what are your alternatives? Very few. I've seen private lenders drag out loan applications for months as well. Each case is differnt and every clients needs are different, the bottom line is, does NACA offer you what you are looking for? Are they legitimate? Based on different client experiences, it eems that way. I run a solution based business and there are different solutions for different clients. Finally, some applications get delayed for many reasons such as missing data, incorrect data. Some really typical reasons that loans are delayed include buying a big ticket item (auto loans, major appliances...). New Credit card application,..while buying a home you can barely afford.
Web Reference: http://www.gotobecky.com
0 votes Thank Flag Link Wed Jul 9, 2014
yes it is , attended a work shop now getting documentation together.
0 votes Thank Flag Link Fri Jul 4, 2014
I can tell you this about them, thanks to NACA not only did my wife and I get a great house we also got a great interest rate on the loan. Our loan is set at %3.25 on a 30 year fixed. I know that NACA can be low and that the HAND department really needs some help but my overall experience with them was good. My wife and I only worked with them for 2 months before we were approved to look at homes and then it only took another 4 months before we closed on out house.
0 votes Thank Flag Link Fri May 23, 2014
You can try them but you probably will have to wait for years just to get approved. They ask you for a million things and when you think you are finished they still asking. I'm not sure if it's good no one has ever told me that they got a house through this program, I only heard from someone that his friend bought a house through them and he it took him more than a half a year just to submit paperwork and when he finally got the house it led him into two full years. If you need an appointment you better make it each time one month in advance and if you have to cancel they give you a ran around. the people are not very intelligent and they are very impolite. Its not what it looks like when you go to the workshop. the workshop sounds great and they make it sound so good. let alone for the rest of your life you will have to be committed to them by either giving them your church space to hold workshops, or volunteering in their offices for free and more. if you wish to do this fine. its a pain in the neck and they have very poor professional attitudes. their customer service is nasty, the girls at the front desk are sloppy, they have no manners they need to hire educated and organize professionals. some of the counselors cannot speak English well and yet they have many English clients. you will be so frustrated you would be sorry that you didn't take out an FHA loan an go about your business. I have a counselor and every time I meet with her she ask me for the same thing over and over again. a mess. welcome to the nasty customer services they are the nastiest bunch I've ever came across. !BOW! WOW !
0 votes Thank Flag Link Tue Apr 15, 2014
Yes, they can help you maybe. I just want to say that I would not send my worst enemy to them. No matter how much I hated them. NACCA SUCKS. They will not return emails or phone calls. If the counselor sets a appointment with you for say 11:00 they might decide to call you 2 hours later. They will ask you to send the very same paper work maybe 5 or 6 times. They are not professional at all. If you have a question they tell you that they have 400 clients and you need to schedule an appointment to talk to them, but don't forget whatever time the appointment is they may have you sit at home and maybe call 2 hours later. I could go on and on about them. THIS HAS BEEN THE WORST EXPERIENCE THAT I HAVE EVER GONE THROUGH EVER. I would say please NACCA will make you want to go to the office and hurt somebody. I would never recommend ANYONE to them ever never. They treat people like we need them so they will talk to you whenever they want to, NACCA is about to make me catch a CASE! I absolutely HATE MY COUNSELOR!
0 votes Thank Flag Link Fri Jan 24, 2014
I am in the process of purchasing my first home with NACA. I do not have any complaints on the program or the process. I realize that the timing of my process was based on my record keeping. My realtor had prior experience with NACA but was not referred by them. I found her on Angies's list. She has had 4 prior experiences representing NACA buyers and spoke highly of the program. I think there are bad apples or employees in each bunch but I would not allow that to cause me to avoid the program.
0 votes Thank Flag Link Wed Aug 28, 2013
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Flag Sat Jan 25, 2014
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Flag Sat Jan 25, 2014
I have only heard a little bit about this program, but if you are dedicated to making on-time payments and stringently respect the program's rules and epithets, I could only pass along recommendations!
0 votes Thank Flag Link Tue May 7, 2013
i need you fon # if you spikin espanshe
0 votes Thank Flag Link Fri May 3, 2013
I am involved with NACA in the attempt to purchase my first home. They are a legit program, but you must be patient in dealing with them. They are a grassroots non-profit that started over 25 years ago, with one of the goals to shed light on predatory lending practices. They have two programs...the Home Purchase Program and the Home Save Program. I know good stories regarding folks who have used one or the other.

It is a membership organization that is the intermediary between buyers and the two mortgage lenders who have committed to work with them...B of A and Citigroup. NACA works with buyers to make sure they are mortgage worthy and determine a reasonable monthly mortgage payment one can realistically afford. Once they approve you as mortgage worthy, their lending vendors (mentioned above) make the loans. They will only do 30 year mortgages and the rate is FIXED.

As far as I can tell they are the cheapest money around and give you the option of buying down your interest rate. They don't determine how much money they will loan you, rather they determine how much of a mortgage payment you can afford. I am qualifed by Citigroup to have an $850 monthly mortgage payment and in the price range I am looking, with the money I have to put down, I am getting a rate less than 1%.

They offer the same interest rate to everyone, regardless of credit score. Right now their starting rate is 3.5%. I have money to buy down my rate, which helps me to get the kind of home I want and get my payments to $850 a month. If you go to their website and click on Member, then click on "mortgage calculator" you can play around with it to see what kind of payments you might make. It may seem a little confusing at first.

You can either enter the amount of money you think you can afford per month (in the first field) or you can put in the price of a home/condo/etc. in the second field. For instance I know they lend me money if I can get the figures to work out so that I am paying $850 a month. I have been looking for duplexes up to fourplexes because they will calculate 70% of those rents as income. So in field three you click on the drop down menu to select condo, single family, etc. NACA will allow you to have up to a four-plex. Skip field 4 and field 5 "Principle Reduction" is where you enter the amount of money you might have to put down. If you have no down payment that is not an issue with NACA. (which is how they help folks who can afford a mortgage, but cannot get a loan because of bad credit or no money down).

Field 7 is "Buy-Down amount". If you have any money to put down you might consider buying down your interest rate rather than using it for a down payment. If you enter figures in there you will see that the interest rate goes down, as you click thru all the other fields and click on "OK" at the bottom. There is also an "Amoritization" button which will show you all payments for 30 years.

What I found out is that I can get a lower monthly payment by using my money to "buy down" the interest rate as opposed to a down payment. In my case, with the amount of money I have and the home price I am looking at, in about 10 years I wind up breaking even on the money that I used to lower the rate. (that money is not a down-payment and will not lower the loan amount). But for a 30 year loan, it pays me to use those funds to lower my interest rate...and I wind up with a lower monthly payment.

I was introduced to them by some friends who had very bad credit (not so much an issue with NACA....more of interest to them is can you afford the make the mortgage payment for the long haul). They did get into a house when there was no way they would have done so otherwise. Today, over 6 years later they have nothng "bite them in the butt", and have only gotten support from NACA when they ran into some financial difficulties.

Once you purchase you remain a member and they are there to assist you if you have troubles making your payments. They have specific relationships with both Bof A and Citigroup, who all are invested in keeping folks in their homes.
0 votes Thank Flag Link Tue Jun 5, 2012
I wish I could say that NACA helped me with getting a loan modification from BOA. (Bank of America) But unfortunately, I can't. After submitting the paper work, which of course BOA said they never received, and after faxing the information again and after many telephone calls, I finally received from BOA an offer which increased my mortgage payments by $38.00 a month.

When I contacted my counselor at BOA, they couldn't explain to me what happened. I was transferred to a more seasoned counselor who suggested I contact my congressman.

I finally received a FedExed envelope from BOA stating they closed my request because they hadn't received the requested documents. Clearly, the left hands don't know what the right hands were doing.
0 votes Thank Flag Link Sun May 13, 2012
How can I get a principal reduction on my present HAMP mortgage? Wells will not help me anylonger.
I realize my 2% mortgage is good, but our balance is 455k. Our home values are down as you know, it would help us immensely if we could lower the principal. Wells Fargo are denying this request.

Help us please. They only try to harass us and they offer short sale or deed-in-lieu which is not acceptable. They are no help. We need someone to listen to our needs. We are paying on-time.
0 votes Thank Flag Link Thu May 10, 2012
my home is under water by 130 thousand ihave some problem so iam behind one month i have solid job
0 votes Thank Flag Link Thu Mar 22, 2012
What documents would a person bring to get assistance?
0 votes Thank Flag Link Mon Jan 9, 2012
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
0 votes Thank Flag Link Wed Nov 23, 2011
my credit is not good. and I am in position to purchase a friends home all inspections
have been done and all repairs completed. The property is in Shaker Heights great deal bad timing for my credit situation
Flag Fri May 2, 2014
My experience exactly!! Cheapest money there, a legit program, but you MUST BE PATIENT!! My credit was good, but I needed to get as low a monthly payment as possible. Because I can buy down my interest rate (I am qualified to get a loan with an interest rate less than 1% with a monthly mortgage of $850.
Flag Tue Jun 5, 2012
i make 9 dollars aan hour can naca help me buy a home
0 votes Thank Flag Link Thu Sep 15, 2011
This program is a scam like acorn. They corral you into rooms where they make you write your story bout how your in financial trouble. They encourage you to be dramatic. Then they submit them to state and federal goverments for funding. . They are more interested in funding and making a buck off your story, They used our lenders letterhead without their knowledge and claimed they would be there at the meetings. They weren't. They herded groups of us from room to room and wouldn't let us leave. This scared my wife. They called the ushers "crowd control" Be very wary of these people.
0 votes Thank Flag Link Wed Feb 9, 2011
I will to buy a home in orlando fl , Please I need some help
0 votes Thank Flag Link Sun Sep 12, 2010
Yes you do have to do some sort of service for the company themselves. That may mean working in their office, going to rallies etc. you sign up for what you want to do. Yes there is a monthy fee. I believe 50 a month...you also pay some initial fees to run your credit report etc...
0 votes Thank Flag Link Wed Aug 18, 2010
can someone tell me about NACA's requirements?

I believe I read that participants have to do community service, and that their is some sort of fee over the course of a few years to be part of the program????
0 votes Thank Flag Link Wed Aug 18, 2010
can someone tell me about NACA's requirements?

I believe I read that participants have to do community service, and that their is some sort of fee over the course of a few years to be part of the program????
0 votes Thank Flag Link Wed Aug 18, 2010
yes it is ligit we have closed several loans ourselves, however depending on a clients situation the time table for closing may be lengthy. If you need help navigating through the process e mail to sue@blackhawkproperty.com
0 votes Thank Flag Link Tue Aug 17, 2010
take patiente time with NACA not help if you leave papers aside and some of their customer services are so out the way, so you have to contact almost every day, they can work with you..but take time took 2 years with us and we still in the process with another company because our first lender sold our account after the modification plan was reach by NACA so now we start all over again
0 votes Thank Flag Link Fri Aug 6, 2010
Can anyone respond to this? I need clarification on what NACA qualifies as bad credit. Will previous bankruptcy/ foreclusure be factored in as bad credit? i have great income, same career for 15+ years and due to a BK discharged in 2008 which included my home, I cannot get a fannie mae/freddie mac loan.
0 votes Thank Flag Link Sun Jul 25, 2010
stick with NACA counselors never work with "SPECIALIST" out NACA because they don't do nothing in all or give you false information, never, sign papers if you are not sure about it, never give personal infomation later can bring you to more trouble...stay with NACA ask even for different people as HOMESAVE program open the NACA website
NACA.COM
"agents" our NACA are only for their own profit they don't help you please me and my husband be and still fight in a nice rollocoaster thans for "agents" like these one keep contact with NACA
0 votes Thank Flag Link Tue Jul 6, 2010
yes you can ask questions even if the first is negative ask again please
0 votes Thank Flag Link Tue Jul 6, 2010
I am in the process of purchasing a home and I am receiving assistance from NACA. I am very satisfied with the service I recieve. Yes it does take longer than the normal home buying process, however it is well worth it. I also think it is strickly up to you how slow or fast you go. If you follow the guidelines and tkae of your part it go relitivle quickly.
0 votes Thank Flag Link Tue Jul 6, 2010
our case was as yours we was with Homeq/Barcklay these banks send a woman to hit me inside my home and took around 2 years for NACA to contact with the correct person, we still working with NACA because Homeq sold our account to Quaton/waterfalls but not all is in NACA hand as owners we also have to contact with senators, Department of Corporation in your state or Department of Real state, move from different offices these banks/lenders hate that so open yourself to contact with people can help you and ask for help we did and we still are battle for our home don't leave all in NACA hands in the final is your home , so you as a homewoner have to fight for your rights NACA is solo as a referie's

please is just a humble opinion
0 votes Thank Flag Link Wed Jun 30, 2010
YES

It is safe and everyone help you takes very good patient time but even with HOMEQ/BARCLAY...Naca helps us 100% of course you need to follow NACA guidelines and you can have the opportunity to ask for a counselor and negotiator
0 votes Thank Flag Link Mon Jun 28, 2010
The Renter from Inglewood California please contact me. I can contact them to see what the problem is. Likely it is something that can be fixed relatively quickly and on the broader spectrum it could take a bit more time but worth it if we can get your file moving.

I have worked with others from California as well as other states to get them through the NACA process fairly quickly.

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!
0 votes Thank Flag Link Tue Jun 22, 2010
If I already have a loan modification can I still file with NACA?
0 votes Thank Flag Link Sun May 16, 2010
I signed up with naca in LA september 9, 2009. they got many people to get up on the stage and tell everyone they got a 2%loan. they told us we'd get the same(2%). 7 months later: NOTHING. they did nothing for us!. The Wells Fargo at the naca convention said he'd call me septmeber 12 to let me know how things were going. he never called even tho i asked him to promise me which he did. when we tried to call naca a message said they were too busy to answer and that we could get the same info on their website which only showed us the loan we already had with wells fargo.

Then we read on another website the truth: naca receives money (from the government i spz) for every loan (like ours) they accept into their 'remodification program'. So, from our experience, don't waste your time with NACA!
0 votes Thank Flag Link Sat Apr 24, 2010
NACA is touring the country again! Suggestions from a husband and wife NACA volunteer team when NACA was in Los Angeles. Volunteer at the NACA tour. You will be helping others and this worthy non-profit - you will also be helping yourself. My husband vounteered four days, I handed out and posted NACA flyers - spreading the word. NACA helps their volunteers by putting them right up front to meet with the lenders as the opportunities permit, that is how they "pay" their volunteers. My husband's NACA manager (at the L.A. NACA event), once they were finished with a group of activities, asked the volunteers if anyone needed to meet with their lenders (bring all your documents to the event) and hands went up, they were all brought to meet with their lenders! Another thing to note, NACA will be going 24 hours, no turning people away. Those of you in the remodification process, of all people, need to attend from the first day and plan to stay or return as many days as possible, why? The lenders are there in person, who knows you may leave with a new reduced, signed loan! There is talk of principle reduction in the air...dont miss the show!
0 votes Thank Flag Link Sat Apr 17, 2010
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