Is the DC offfice of NACA difficult to deal with?

Asked by Clw1624, Washington, DC Wed Oct 28, 2009

I'm just starting the process with NACA and hear both pros and cons for the program. Do I have to use a NACA real estate agent or can I use one I found on my own? Are banks more or less likely to accept an offer from a NACA client?

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Gmorgan, Home Buyer, Washington, DC
Fri Jul 29, 2016
yes u can use ur own realtor..banks hate naca
0 votes
Teodora Fern…, Home Buyer, New York, NY
Wed Aug 5, 2015
I hope you didn't go through with this NACA. Please don't do any busyness with these people they are not what they are saying. I'm a costumer of them for 8 years, I never know about this program the agent that i worked with introduce me to them let me tell you i believed in all of their lies, and now I'm paying with my health, all i do is work for them. website is a lie NACA is the opposite of what they are claim to be. MY advice is to find your self a good realtor work with them to see if the time is good for you, if not they will advice you on what is best for you and go from there.PLEASE CAREFULLY DON'T SIGN ANYTHING THAT YOU DON'T READ COMPLETELY AND UNDERSTAND. Good Luck
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so true.
Flag Fri Jul 29, 2016
Please explain how they lie to you and why they make you work for them?
we are planning to go through with their mortgage program.
Flag Fri Oct 23, 2015
Akil Walker, Agent, Upper Marlboro, MD
Mon Nov 19, 2012
NACA takes time. They help you develop a buget over a few months to see if you can save. To the seller it will not matter if NACA or not. document your agent before you begin the process.
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Carolyn Thom…, Agent, Rockville, MD
Sun Oct 28, 2012
I've done several transactions with the DC NACA office.

If you need a prompt response a personal visit to the office seems to work best.

Feel free to contact me should you need guidance. The program is wonderful for buyers with credit concerns, as well as people with great credit. Many people with great credit have not realized that this program is a great option for 100% financing.
0 votes
how long have you been working with NACA
Flag Wed Dec 23, 2015
Leveled, Home Buyer, Washburn, WI
Wed Aug 31, 2011
im just starting....and Customer Service is OMG
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Jazz, Home Buyer, Washington, DC
Fri Apr 22, 2011
I'm 3/4ths of the way done, and my BIGGEST advice is:

1. Know what you want in a home BEFORE you look.
2. Know what you are willing to compromise.
3. Know your MAXIMUM budget.
4. ABSOLUTELY keep all your paperwork up to date.
5. BE PATIENT with the process. It took me 6.5mths to get through the initial process, and took me 11mths months before I found the right home.
6. Know the market you are looking at. I'm in DC, and although the market nationwide is suffering, DC is HIGHLY competitice........I've lost many contract offers from low-balling. The home I finally won a contract on...I was in a bidding war with 8 opther people and ended up 35K ABOVE the full asking price!!!
7. YES YES YES, the program is worth the headaches!!! The process is NOT for the weak or inpatient.
8. Keep in contact with your mortgage counselor and realtor about ANY changes in your finances, jobs, etc.
9. YES, you MUST use a NACA qualified realtor.
10. I think BANKS are more susceptible to accept a traditional loan offer because its quicker to close. However, do NOT let a bank deter you from the benefits of saving potentially over 100K over a 30 year span you will save through this program.
11. FIND a mentor who has gone through the process.
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M. King, , Greenville, SC
Thu Nov 26, 2009
First, my story has to do with an experience with NACA. The particular office I dealt with is NOT the DC office.

I have dealt with NACA one time, as a broker and in the sale of my private home. The buyers (husband and wife) came to me and viewed the home. We spoke at length, I advised them that I was a licensed broker, the homeowner and that there was a clear conflict of interest in my objectives and their objectives. I advised them to retain an independent broker to represent their interest. They declined, signing a dual agent waiver and another form that I wrote up that clearly identified the conflict. They signed a buyer’s agency agreement. They made an offer at full price (a few years back when the market was good) on a standard Realtors Offer to purchase, with standard contingencies on home inspections, termite inspections, ability to obtain financing, etc. I told them of several local loan officers and mortgage brokers they might consider contacting.

About a week later a lawyer associated with a NACA office began calling to discuss the contract - he was supposed to be one of their "preferred closing attorneys". Another realtor contacted me claiming to represent the buyers, be entitled to the commission, and trying to renegotiate the generous commission rate that I had posted on the MLS. Through the better part of the week, the lawyer called daily and lodged his repeated objections to the language of a standard realtor’s association agreement to purchase. I advised the other realtor that she was not entitled to any commission and that I had an agreement in place that predated her agreement, she was not party to the transaction. The buyers called me and tried to convince me to let the other Realtor represent them stating that it was a condition of the NACA program to use a “NACA approved realtor”. I reminded them that we had discussed this at length BEFORE they signed anything and suggested that if it were a condition of their financing that they probably wanted to find other financing because I was not letting the late coming outside realtor in. The lawyer sent over a modified contract, which I immediately rejected as a post acceptance alteration of a binding contract and voided all contracts.

The buyers came to me concerned and said that the lawyer said that I could not do what I had done (void the contract). I responded that my actions were well within the law and their lawyer was wrong. The actions of the closing attorney were IN MY OPINION well outside his fiduciary responsibilities/obligations, that he was clearly representing one party over the other when his obligations are to execute a real estate transaction in accordance with the law. That a first year law student, not to mention a “new Realtor” with only 40 hours training knows that once a contract is signed, you do not start negotiating changes.

We got on the phone with the attorney and I told him the same thing I told them, adding that I will be glad to sell the home, under identical terms agreed to + a mutually agreed upon closing attorney (and you will not be it). Once signed, terms are NOT subject to renegotiation.

The home sold to another individual, three weeks later, at full price, under more favorable terms and without incident. My opinion of NACA…I do not think I need to summarize
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Teach1reach1, Home Buyer, Alexandria, VA
Mon Nov 23, 2009
I am a dc homebuyer. It took me a little over year to get NACA qualified. I ended up working with 3 DIFFERENT mortgage counselors (2 quit, and each time, my file was transferred, without me knowing and sometimes without the new mortgage counselor knowing). Despite that, I think the pros definitely outweigh the cons, especially no $ down, no closing costs and in this market you have a lot of buying power, on top of having assistance to buy down your interest rate. It may be a headache at times. My advice would be to constantly call and show up to the office to make sure your counselor stays on top of your file. The squeaky wheel gets the oil.
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Gerald Seega…, , Washington, DC
Fri Nov 6, 2009
My cousin and her daughter are both purchasing homes through NACA. Her daughter closed this past Wed. and my cousin is scheduled to close at the end of the month.

You should have noted your agent when you signed up for the program. It may be too late now to get your own agent now if you have already met with a counselor. I would call them immediately to clarify and if you do not have an agent in mind, feel free to contact me.

Finally, I do not think banks are going to give a NACA contract any extra attention one way or the other. You just have to make sure that the bank property you write an offer on fits NACA requirements as the bank properties are normally sold strictly as is.
Web Reference:
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Crystal, Home Buyer, 20001
Tue Nov 3, 2009
I'm a homebuyer and tried to purchase with NACA and it's not worth the effort. I started the program by attending their seminar in February. I quit after I was unable to get PREQUALIFIED for a loan in September despite having excellent credit and a good job in the financial services industry. I ended up getting prequalified with my employer in three days and now have a house under contract.
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Ramesh Chand…, Agent, Arlington, TX
Thu Oct 29, 2009
NACA process takes time.
In this fast moving market that may be a luxury u can't afford.
Ramesh Chandra
703 635 8209
0 votes
Arthur Hardy, Agent, Beltsville, MD
Wed Oct 28, 2009
Their process is pretty straight forward. You are required to attend a workshop unless they do not have one in your area. Fortunately for you they have a number of these workshops monthly. After the workshop you have to apply on the web to get your one on one interview. After that you will know where you stand and if this is the right program for you. Good luck. If you have any more questions, dont hesitate to get in touch.

Arthur Hardy, Realtor
W.C. & A.N. Miller Realtors
4910 Massachusetts Ave NW
Suite 119
Washington DC 20016
(202) 362-1300 office
(202) 362-3164 fax
(202) 895-2860 direct

Know of anyone thinking of buying or selling a home? Referrals are greatly appreciated.

Licensed in the District of Columbia, Maryland and Virginia
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