http://www.trulia.com/voices/Home_Buying/Can_anyone_give_me_advice_about_the_NACA_COM_progr-54691The program is called Neighborhood Assistance Corporation of America, they help future home buyers purchase homes at a lower interest rate.en-ushttp://www.trulia.com/voices/profile/Other-Los_Angeles_CA-887690/http://www.trulia.com/voices/profile/Other-Los_Angeles_CA-887690/Bank of America remodified our loan. Our NACA advocate helped us put it together. It took approximately five months from start to finish. We had been struggling with a lawyer who charged us $2,000 and he dragged us along for about eight months. If it were not for the weight that this organization carries we feel that we would have lost our home. NACA is HUD-approved. Where can struggling homeowners get such help for $15 per year? We did not pay for NACA's services. Our loan is at a 2% fixed rate, down from a 4.99% and our payment dropped $1,200 per month with taxes included. We cannot thank them enough. Thank you NACA!Wed, 23 Dec 2009 20:34:41 -0800http://www.trulia.com/voices/profile/Home_Buyer-Miami_FL-973173/http://www.trulia.com/voices/profile/Home_Buyer-Miami_FL-973173/Whats 50 dollars a month when they gurantee no down payment, no closing costs, no fees, no requirement for perfect credit, and at a below-market interest rate. Naca also provides the home inspector at a lower rate, realators, and lawyersSun, 20 Dec 2009 22:25:56 -0800http://www.trulia.com/voices/profile/Home_Buyer-Miami_FL-973173/http://www.trulia.com/voices/profile/Home_Buyer-Miami_FL-973173/There is a process for getting anything in life people Naca is legitimate, and yes it does take time. The time that it takes is based on YOU!!! If you have all the information that they are requesting then of course you will be in your new home soon. With this program you do have to meet a couple of times with Naca which may require you to travel if your Naca office is not local. secondly it is required to pay a montlhy membership fee, and you must volunteer 5 times or either reffer 5 people per year as a member. Any company has to check a persons resources to make sure that they can attain what they are applying for. I also noticed alot of people mentioned the counselors or customer service its funny they would be rude or careless for this is someone that is a member and simply doing there volunteer requirements. Well good luck to you all on your experience. But Naca is a pretty awesome program.Sun, 20 Dec 2009 22:13:44 -0800http://www.trulia.com/voices/profile/Both_Buyer_And_Seller-Illinois-966564/http://www.trulia.com/voices/profile/Both_Buyer_And_Seller-Illinois-966564/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.Mon, 14 Dec 2009 16:31:42 -0800http://www.trulia.com/voices/profile/Real_Estate_Pro-07302-258983/http://www.trulia.com/voices/profile/Real_Estate_Pro-07302-258983/It is unfortunate that Martha is having bad experience with NACA. There has to be a legitimate reason. The processing time could, in fact, take months, and that's where a knowledgeable Buyer's Agent would have known to advise his/her buyer to hold off on making offers until NACA has given an actual mortgage commitment. It is also good to have an Agent who is familiar with the program so that he/she knows if the preapproval letter is merely that or if it is a mortgage commitment that can close within a reasonable time.Mon, 07 Dec 2009 08:10:00 -0800http://www.trulia.com/voices/profile/Home_Seller-20708-904486/http://www.trulia.com/voices/profile/Home_Seller-20708-904486/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.Mon, 07 Dec 2009 07:27:32 -0800http://www.trulia.com/voices/profile/Other-Wentzville_MO-956330/http://www.trulia.com/voices/profile/Other-Wentzville_MO-956330/I believe they are legitimate, but if you are not a minority homeowner losing his home, you will not get the immediate and urgent attention such a person will. And that will not be the fault of the minority or working-class homeowner, and maybe not how the majority of NACA workers think. But it has been my experience. I have been verbally abused by a NACA counselor, and ignored by 2 of them when I urgently needed help, when the counselor assigned to me left on a "Save the (other, more deserving person's) Dream Tour". What they do is free, and so I was reluctant to complain. Also, I admit I am afraid if I make the counselor, who is demeaning in every interaction and almost unreachable at others, angry he/she will punish me by letting the negotiations with my lender collapse and cost me my home. As she/he has let me know she/he thinks I am stupid and greedy and used a tone that would get me fired from my job if I addressed a customer like that, I get the impression she/he would be only too glad to do that. In fact, if my e-mail shows here I'm probably screwed. Am I kidding? I wish I was. Do I think the ORGANIZATION and most of the people in it are great, and will give you an honest loan. Yes. They will. And since you won't need help, you'll never have to deal with her.Sun, 06 Dec 2009 20:05:08 -0800http://www.trulia.com/voices/profile/Other-Los_Angeles_CA-887690/http://www.trulia.com/voices/profile/Other-Los_Angeles_CA-887690/A BIG THUMBS UP! OUR LOAN WAS REMODIFIED TO 2% FOR THE LIFE OF THE LOAN. THANKS NACA! WITHOUT THEIR HELP, WE WERE EIGHT MONTHS GOING BACK AND FORTH, BACK AND FORTH WITH THE BANK. INVESTORS ARE NOT HELPED BY NACA. THIS PROGRAM IS STRICTLY FOR HOMEOWNERS. THIS IS A HUD APPROVED NON-PROFIT ORGANIZATION. WE HIGHLY RECOMEND NACA!Thu, 12 Nov 2009 10:00:45 -0800http://www.trulia.com/voices/profile/Home_Buyer-Illinois-926350/http://www.trulia.com/voices/profile/Home_Buyer-Illinois-926350/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!!!!Thu, 12 Nov 2009 09:38:49 -0800http://www.trulia.com/voices/profile/Real_Estate_Pro-07302-258983/http://www.trulia.com/voices/profile/Real_Estate_Pro-07302-258983/NACA is completely legitimate. They are a nonprofit organization that advocates home ownership and helps buyers purchase with no down payment and closing costs and people who are behind with their mortgage negotiate lower payments with their banks.. The frustration that some people have with NACA is the long wait that you have to endure when working with them. They are totally volunteer run and with the volume of people who need help today, they do take months. They make people go through orientation and counseling process to ensure you can afford to buy and KEEP your home. The catch? You have to commit to suppor the organization for 5 years after successfully getting help from them. I recommend that you go to one of their orientations and get informed. It's worth it. Maria "Carme" de Sagun Sales Associate/Coldwell Banker 15 Nardone Place Jersey City, NJ 07306 Office: 201.963.1400 ext 156 Fax: 862.345.3480 Cell: 678.770.1400 www.mariadesagun.com www.jerseycityexpert.comThu, 22 Oct 2009 04:04:20 -0700http://www.trulia.com/voices/profile/Home_Seller-Chicago_Lawn_Marquette_Park_Chicago_IL-901075/http://www.trulia.com/voices/profile/Home_Seller-Chicago_Lawn_Marquette_Park_Chicago_IL-901075/Naca is garbage... they did nothing for me 8 months of wasted time. I did what they wanted and Lender still rejected me... NACA's councelors are inept. Many of them have terrible customer service skills.Sun, 18 Oct 2009 19:10:43 -0700http://www.trulia.com/voices/profile/Home_Buyer-California-892616/http://www.trulia.com/voices/profile/Home_Buyer-California-892616/Is arrora bank one of the ones you work with?Wed, 07 Oct 2009 09:50:37 -0700http://www.trulia.com/voices/profile/Home_Buyer-Ontario_CA-888266/http://www.trulia.com/voices/profile/Home_Buyer-Ontario_CA-888266/How can i join or take part in aquiring my first home.Thu, 01 Oct 2009 12:56:25 -0700http://www.trulia.com/voices/profile/Other-Los_Angeles_CA-887690/http://www.trulia.com/voices/profile/Other-Los_Angeles_CA-887690/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."Wed, 30 Sep 2009 18:01:20 -0700http://www.trulia.com/voices/profile/Other-Charlotte_NC-868686/http://www.trulia.com/voices/profile/Other-Charlotte_NC-868686/Hi Sandra, I am not only a member of NACA's Home Save mortgage restructuring program, I am also an employee. I have been with NACA for a couple of months in the Charlotte, NC Call center. NACA is growing by leaps and bounds, our current first mortgage rates are 4.625%, with no closing costs or fees. It takes some work, as it should for any homebuyer to qualify, but it's well worth it. I work for the Home Save program, helping people in dire straits restructure loan so they don't lose their homes. On our Summer Save the Dream Tour, we saw over 30,00 in Cleveland, 40,000 in Chicago, 35,000 in St. Louis,a and over 60,000 in Atlanta. We're leaving for the West coast later this month--Phoenix, LA, Vegas and San Francisco. Many people get same-day (or next day) results, so they feel it's worth standing in long lines to attend the workshops and go through our counseling process. I feel great that I can help people stay in their homes. NACA also has HAND, a Habitat-style program for remodeling homes in low to moderate income neighborhoods to further stabilize cities. If you have any doubts, read our website, www.naca.com. Jan NACA Member Serivces repWed, 09 Sep 2009 12:10:44 -0700http://www.trulia.com/voices/profile/Home_Seller-37207-864340/http://www.trulia.com/voices/profile/Home_Seller-37207-864340/i am a homeowner but im really interested in your programFri, 04 Sep 2009 05:54:03 -0700http://www.trulia.com/voices/profile/Home_Buyer-St_Louis_County_MO-835627/http://www.trulia.com/voices/profile/Home_Buyer-St_Louis_County_MO-835627/This is a legit organization. I went to their workshop and counseling my mortgage company was not there, but naca will fight for approval of my proposal which will save me $535 per month. But those who mortgage companies were there, came in with interest rates at 10%-12% and left with mortgage rates at 2%. Many people on their way to losing their homes. I would suggest if you have a high interest, and struggling or you're interested in purchasing a home, they will help. I'm waiting to find out if my mortgage company will accept my proposal. I recommend this organization.Mon, 03 Aug 2009 08:37:58 -0700http://www.trulia.com/voices/profile/Home_Buyer-Rockland_MA-813875/http://www.trulia.com/voices/profile/Home_Buyer-Rockland_MA-813875/NACA is totally 100% legitimate. There is a $50 a month fee, yes, but this is a small amount compared to the fact that they pay your closing costs, there is no down payment requirement, and you do not have to pay PMI. They "require" you to participate in five volunteer "activities" a year, although from our understanding this is voluntary, your rate will not go up if you don't volunteer, but if you find yourself in trouble making payments and you haven't volunteered, you will be low on their list of members to help. Here is the main catch as we've seen it here in Massachusetts-it is incredibly slow and they have "growing pains" ie seem to be understaffed in relation to applicants. Right now we have been approved, but finding that their office real estate agent is simply spread too thin. We are going to try to find agents in the area who have worked with them, but of course that takes even more time. However, if you lack a 20% downpayment, but make too much money to qualify for other low interest programs, NACA could potentially save you tens of thousands or even a hundred thousand dollars by the end of your mortgage. That's a lot of money!Thu, 16 Jul 2009 07:03:58 -0700http://www.trulia.com/voices/profile/Real_Estate_Pro-Chicago_IL-253322/http://www.trulia.com/voices/profile/Real_Estate_Pro-Chicago_IL-253322/Yes, it is legitimate. Unfortunately, sometimes it is questionable whetther it is well run.... I is a program that works for ready and patient buyers. You must be engaged in process so that your buyer is not directed to another agent.Tue, 14 Jul 2009 15:11:59 -0700http://www.trulia.com/voices/profile/Real_Estate_Pro-Nashville_TN-154129/http://www.trulia.com/voices/profile/Real_Estate_Pro-Nashville_TN-154129/Hi Sandra - I was recently invited to become a NACA real estate agent and I can tell you that it IS a legitimate program for purchasing a home. As with any other purchase where an extra party is involved (FHA, VA, etc.), this can make the process a lot slower and demand a lot of patience on both your part and the part of the seller. However, if you are willing to jump through these extra hoops, it can be well worth your time and effort! I would love to help represent you in your purchase!Tue, 14 Jul 2009 15:09:15 -0700http://www.trulia.com/voices/profile/Other-Pembroke_MA-804399/http://www.trulia.com/voices/profile/Other-Pembroke_MA-804399/Yes, NACA is Legit and I thank everyone involved at NACA. Please stay with them and follow the guidlines, they do stand beside you and will guide you along. Do as they ask in contacting your Senators and Congressman, reach out to as many people you can. You will get ansewers back, I recieved correspondence from Senator Kerry as well as phone calls (yes personal phone calls) from his office staff. I even have recieved calls from Congressman Delahunts office, they called me the next day each time I faxed over something to them. I was told yesterday that my mortgage company contacted Senator Kerrys office, in return Senator Kerrys office called me at work to let me know I should have an answer to my modification in 8-10 days, Praise God! I have been working with NACA since January 2009. I tried working with my mortgage company for over a year and they just brushed me off. UNTIL I faxed letters to the CEO of the mortgage company along with faxed & mailed letters to Congressman Delahunt, Senator Kerry, Senator Kennedy. That's when I recieved a phone call from the mortgage company talking about a letter they recieved from Senator Kerry, sure now they want to talk!! Which I am very grateful!!!!!!!!! So call NACA, follow their requests and contact everyone, they will even give you a list with names and numbers. Be pleasant when writing and/or speaking with anyone, remember you get more with honey than vinager. But you don't need to be sicky sweet and never be nasty, Have Patience with the whole process, it's worth it in the long run! Respectfully Maureen TherrienThu, 02 Jul 2009 10:05:00 -0700http://www.trulia.com/voices/profile/Home_Buyer-Atlanta_GA-791065/http://www.trulia.com/voices/profile/Home_Buyer-Atlanta_GA-791065/Hello, I used the NACA program back in July 1997 and purchased my first home. No money down, no closing cost. The Neighborhood Stablization Fund - was never needed (thank God), but I'm glad it was there. I had all of the aper work that "Lucy" told me I needed and I keep in contact with her via email, so ensure that she got whatever she asked for. If you are serious about getting a home, there are steps you must follow - mainly like having copies of your bills and savings. I paid earnest money of $500 dollars for the house, but in closing I got it right back. I purchased a home in the Jonesboro area of Atlanta - and not a lot of people were moving out that far from Atlanta at that time, it didn't take long, but I got a great mortgage payment of $535 + $50 NSF = $585 monthly for a 3 bedroom with office and a hugh back yard. do your research and find out where you want to live - start saving toward you home. They even help you in writing letters to creditors if needed. They were most helpful. I also volunteered to assist the team in helping others in the community with awareness of high/priced mortages. The main thing I remmebered was getting my keys to my house. Home ownership with NACA in Atlanta/Decatur team was great!! Go to their website, ask questions, but most of all attend a Home buyer's Workshop that they offer for free. You must schedule an appointment and slots fill up quickly- so don't procrastinate. So if you want to move in 120 days - You have better call for a workshop appointment (that's a must!!) And get going and have some faith. Everything is not meant to work for everybody, but it truly worked for us, because I worked for it. Whe you submit something, call and verify that they received it and it's what they need - (right away). Stay involved, make contact, and follow up - The house won't come to you, you must go to the house.Wed, 17 Jun 2009 19:24:00 -0700http://www.trulia.com/voices/profile/Real_Estate_Pro-Nashville_TN-521394/http://www.trulia.com/voices/profile/Real_Estate_Pro-Nashville_TN-521394/Sandra, Yes, NACA is legit. Definitely stick with the program even when you don't think you can. As Cathryn mentioned in her post below the process is INVASIVE. We didn't realize it at the time; but apparently closing a rehab loan like the one Cathryn and Dan received is not typical. We didn't know what level of a challenge it actually was until we were well in the process. Just goes to show you what you can accomplish with NACA if you are willing to do what it takes. The process will frustrate you. I haven't met a mortgage application process that was without challenge. NACA is a little more so but you get a little more as well. Just realize that all of the hard work you are doing will result in the best possible mortgage financing available. Cathryn, I can not thank you enough for your kind words. I really enjoyed working with you and Dan. I appreciate you sticking with NACA but also with me. I hope the margarita offer still stands; I'd love to stay in touch (monica.wilson09@comcast.net). Terrance, I can not thank you enough for your diligent referrals. Please give Mr. Cooksey my regards. And I would love to keep in touch with you as well. Please email me when you get a free moment monica.wilson09@naca.com. I'll be re-joining my fellow Realtors before the end of the year as a licensed real estate agent. Although I will be specializing in buyers seeking 100% financing; I will be sure to keep refer those who can't endure the NACA process. While I tout it as the best...it isn't for everyone. Your follow up was consistent and you're a consummate professional. While I can say with some pride that I have the foremost knowledge on NACA's underwriting process in the city of Nashville. I will soon be joined in that claim by a dedicated mortgage professional by the name of Ms. Joslynn Williams. She is the most tenured NACA Mortgage Consultant in the Nashville office and she is very dedicated to helping homeowners. Ms. Williams joined the Nashville office in February. She is also a great person. Her office line is 615-783-1696 or 615-783-1694. Please call ahead before visiting the office. She is charged with the duty of meeting with 5 members each day as well as outreach that takes her out of the office. She will be happy to work with anyone who is dedicated to the NACA process....and make no mistake...it is a process. One well worth undertaking. I am confident that additional NACA Mortgage Consultants will be added to the Nashville office in the near future. This will improve things like being able to reach someone by phone and processing time. NACA Member Services is always available via email at memberservices@naca.com or by calling 1-888-302-6222 or 1-888-404-6222. Don't let anything keep you from 'America's Best Mortgage' Sincerely, Monica Wilson Former NACA Mortgage Consultant www.nacanashville.blogspot.comFri, 15 May 2009 18:16:56 -0700http://www.trulia.com/voices/profile/Home_Buyer-Washington_DC-752501/http://www.trulia.com/voices/profile/Home_Buyer-Washington_DC-752501/I am just starting to go through the program in washington, dc however I have not seen any red flags and do know people who have completed the program and have their first home. I agree that you should attend the workshop. There is where you can ask any question you want and get answers right away. For example, the $50 per month for 5-10 years. That is explained thoroughly and can actually be of benefit to you if you ever find yourself in a "home save" situation. Those funds could be available to save your home so it wasn't a red flag to me at all. So, try a workshop and see what you think. It can't hurt.Sun, 10 May 2009 15:34:43 -0700http://www.trulia.com/voices/profile/Home_Buyer-Nashville_TN-255405/http://www.trulia.com/voices/profile/Home_Buyer-Nashville_TN-255405/I went through the NACA program here in Nashville and closed on my house two weeks ago. I did not pay any closing costs, no down payment, and my rate is 4.25. I also rolled rehab costs into my mortgage and am currently doing a home renovation through the NACA program. It is a long and invasive process, but it is legitimate and was the best option for me personally to buy a first home. Terrence - Monica Wilson was my mortgage consultant and she was FANTASTIC. Unfortunately, she decided to leave NACA the day after we closed on our house. It's a shame that NACA doesn't value their employees more because she was most certainly an asset to that organization and a pleasure to work with.Tue, 05 May 2009 10:37:53 -0700http://www.trulia.com/voices/profile/Real_Estate_Pro-Nashville_TN-662274/http://www.trulia.com/voices/profile/Real_Estate_Pro-Nashville_TN-662274/Over all I believe the company has helped more people than it hurt. I heard about this company a few years ago when I lived in Atlanta. For no down payment, first time home buyers, I believe this program can help. When you call the Nashville office, ask for Monica Wilson. I have referred her some clients that I couldn't help. She is a very kind and was very understanding about what my clients were going through. Let her know that I referred you.Tue, 05 May 2009 09:59:29 -0700http://www.trulia.com/voices/profile/Home_Buyer-Sumter_SC-746541/http://www.trulia.com/voices/profile/Home_Buyer-Sumter_SC-746541/I have submitted every document and letter and had a total of 4 phone interviews as of this date. Now I had my final interview and was told that I did not submit everything they asked for in the manner they needed. I had to submit 6 months of business checking account bank statements showing all deposits of income and expenses. They now want that information resubmitted with all deposits circled and all expenses circled... all 62 pages of documents. They are also now telling me that they do not help with interest rate reductions, and only will submit what I send them to my mortgage company and try to negotiate a better payment plan for me. I already have a good relationship with my mortgage company and told them I would just do it myself and to forget about pursuing my application with NACA any longer. They are nothing but a go-between that does not even know what they are doing. Who is paying these people is my question!Mon, 04 May 2009 19:12:54 -0700http://www.trulia.com/voices/profile/Home_Buyer-Nashville_TN-255405/http://www.trulia.com/voices/profile/Home_Buyer-Nashville_TN-255405/I am currently going through NACA to secure a first-time home mortgage. Though the organization is legitimate and has been around for a while, they are new to Nashville. It is a great program with a great philosophy and a great product. We are only a few weeks into the process, but so far everything has gone incredibly smooth. But, from the threads I have read on other discussion boards concerning NACA, many people are disgruntled with the time it takes to actually get a mortgage through them. NACA also offers a "Home Save" program for those who are about to lose their homes to foreclosure. In this economy, there are, unfortunately, a lot of those folks. Often they need immediate assistance and home purchase clients are put on the back burner. However, we have a couple of things going for us here in Nashville: 1. NACA is brand new to Nashville and not a lot of people know about it, and 2. our NACA mortgage counselor informed us that NACA headquarters has done some re-organizing that includes creating call-centers specifically to handle the large number of foreclosure clients. That is good news to us local home buyers. My suggestion would be to attend one of NACA's free workshops. They are offered usually on Saturdays and are about 4 hours long (ours was a little less). It will give you a good idea of what they offer and if they are the right route for you to take. Just FYI: NACA always offers 1% below the national rate and they offer opportunities to "buy down" the interest rate to next to nothing. The Neighborhood Stabilization Fund that Andy is referring to is a $50 per month fee that is rolled into your mortgage payment much like private mortgage insurance (PMI). With NACA, you do not need PMI. The Neighborhood Stabilization Fund ensures that your home is protected should you lose your job or become unable to work.Wed, 15 Oct 2008 13:04:17 -0700http://www.trulia.com/voices/profile/Other-Indianapolis_IN-401118/http://www.trulia.com/voices/profile/Other-Indianapolis_IN-401118/I used NACA to do a rework of a loan with Countrywide. It took some time, but they got it all worked out. They rock!!! I went from a 9.34 and 12.34 to a 6.5 and 5.5 interest rates. If you do everything they ask in in the order they ask you will get the loan... Just have to have all your docs in order!!!! Also if you become unemployed or unable to pay they do help you with assistance!!!Thu, 09 Oct 2008 18:23:44 -0700http://www.trulia.com/voices/profile/Real_Estate_Pro-Brentwood_TN-24312/http://www.trulia.com/voices/profile/Real_Estate_Pro-Brentwood_TN-24312/If you have a lender you trust, you might let them look over the NACA.com website and give you their opinion. I looked at information and there was one red flag I noticed called the "Neighorhood Stabilization Fund" for $50/ per month for five to ten years. There may be others.Mon, 25 Aug 2008 14:02:45 -0700