NACA is an awesome program. I have 4 clients who are currently going through the process of purchasing a home through NACA who are very pleased thus so far. If you have any questions please feel free to give me a call directly.
Best of Luck
ALAIN PINEL REALTORS
Hang in there - it's not easy being a homebuyer in 2010 in the Bay Area, but your hard work will be rewarded with fabulous pricing.
REThink Real Estate
Buying a house is stressful enough! And now your lender is out of business. I don't know anything about NACA but perhaps your Realtor could set you up with a mortgage broker who is qualified to do FHA loans- this may be another option for you. If you go this route, my suggestion is to find a local mortgage broker who knows and works with appraisers that know our market. I have had two separate clients who have had terrible experiences working with out-of-area mortgage brokers on FHA loans. I know a couple of great ones if your Realtor does not.