Question Details

Bruce Lynn, Real Estate Pro in Coppell, TX

Has anyone ever heard of NACA?

Asked by Bruce Lynn, Coppell, TX Wed May 14, 2008

Is it legit or a scam?

Their website

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I was actually an approved vendor for NACA as a Realtor and Prudential, our broker as the responsible party. I can refer you to several people in our neck of the woods too who got no where with them - as I. It was supposed to be an organization that offered first time home buyers assistance through reduced mortage interest plans with criteria established for the buyers including volunteer committments in the community- maybe even NACA's community. ( I try not to think about them anymore!) . NACA holds "mandatory" buyer registration seminars in churches mostly and they perform an educational seminar geared mostly toward telling the public how wonderful NACA is and what wonderful things they can do for your buyer client that really needs help. After months and months of trying to assist people who never went anywhere in the process we determined it was nothing more than a fishing trip. I never did have one client receive help through NACA. We had to go other routes. That is my experience with NACA, first hand in CA. Good Luck. Cindy Vedder
1 vote Thank Flag Link Wed May 14, 2008
The whole team work together and they know how to tell you their own version to make you believe their are on your side especially when they know that English is not your first language they think one is stupid and ignorant like them. But I will not let Them play me because i work very hard to saved up my money and besides what they took from me as a single parent with a little child they put me in a house that need it a lot repair and with lead paint they took over 20,000 on top of my mortgage to fix my home which it has been 8 years I'm still waiting for a statement to show how much money they used on the repair also I'm still trying to login to their fake website to check my account because every time i actually get them to answer the phone they gave me some no good password i have tried everything. NO HELP NO ANSWER. I have millions complains about this NACA that i need i whole year to tell everyone my experience from start to where I'm at the moment .
Flag Sat Jul 18, 2015
Hello Cindy Vedder be glad that your clients didn't get any help from NACA because I purchased my home with them 8 years ago let me tell you the process only took me 3 months this is my first home and everything they claim to do on their website is a bunch of lies, I would get me my lawyer to represent me but they lied that their lawyer was defending my interest and I only had 3 appointments{ 1 to sit down with the counselor to go over the budget , another time to drop off the paper work, and the other to attend one of the meetings and when the 3 months came to sign the final papers and get the key i meet up with the lawyer for 5 minutes have me sign a whole bunch of paper that what he explain to me was not what the paper says i trust NACA because I though their were standing behind their word, but now I'm paying the price and they are not there to help, They are a bunch of lairs they even took about 15,000.00 for me which I find out that the program was suppose to be ZERO MONEY DOWN
Flag Sat Jul 18, 2015
I'd stay away from them never heard a single client approved, just pissed off clients. If you use the right lender you can get a home loan with a 580 credit score, I would recommend The Lenders Network, if any company can get you a loan they can. I have had clients with under a 600 score get approved and we closed within 30 days... Brilliant real estate minds with a ton of lending contacts, if you need credit repair the owner used to own the best credit repair company but now is partnered with a company they can refer you to and you can be at or above a 580 in just a few months.

Good Luck!
3 votes Thank Flag Link Mon Aug 5, 2013
DON'T WASTE YOUR TIME!!! I went to NACA "Save the dream" convention in October 2009. I was promised "Same Day Soultions"for homeowners who would get their loan modifications approved on the spot by many of the largest lenders and servicers in the country. Bank representatives, dressed in their golf shirts with embroidered bank logos, would be on hand and would get things done for homeowners on a while you wait basis. NACA, a nonprofit based in Boston would be there with hundreds of housing counselors.

Wow. When I first heard about this whole “Save the Dream” thing, I thought it sounded absolutely fabulous.

I was there for 15 hours and a NACA housing counselor had reviewed my financial documents, then met with a representative from Bank of America, who agreed to modify my loan, taking the interest rate down from 7.375 to 3.375 and cutting my payments by more than $700 a month.
The Bank of America representative couldn’t give me a written agreement, but it was a direct contact with my lender, and I watched as the representative wrote her name down along with her phone number and the promised interest rate… right on my NACA workbook.
Fast Forward to March 23rd, 5 months later when I received a letter from B of A that specified a denial. Not only am I getting foreclosure papers I am getting a statement of $9000.00 for late fees and left over money from loan modification trial payments. Not only was I current on my house now since I made trial payments I now have bad credit for not paying the full amount monthly! NACA never told me any of this nonsense.

NACA’s CEO is Bruce Marks, and he’s known for his outrageous acts in defiance of banks. I read about the guy and frankly, had to like him. For a while, he was delivering old, crummy furniture to the front lawns of bank executives on weekends. Pretty cool, right? Now I’m not so sure.

When Bruce was asked for numbers on how many St. Louis homeowners have received loan modifications and how many are in some sort of pending status, all he would say is that “it’s a rolling number”. It’s apparently a number that rolls. Bruce went on to say that that the focus would be on completing pending cases before the tour would resume in Los Angeles in late September. The “vast majority” will be completed by the end of this week, he told the St. Louis Beacon.

Were they? I don’t know. I can’t find any published numbers anywhere. I sure hope “the vast majority” of the 40,000 people that attended the NACA “Save the Dream” event… had their dream saved.

But I’m skeptical. Because when you consider that, according to the administration’s report cards that were published on August 9th, Bank of America only modified 4% of its eligible loans. Bank of America is the country’s largest mortgage holder, so it seems hard to imagine that the “vast majority” of 40,000 homeowners could save a dream out of that 4%. Maybe I’m not getting the math right.

At least NACA provides their housing counselor services FREE! That’s right, they don’t charge any of those distasteful up front fees everyone is so concerned about. Nope, NACA gets their money the old fashioned way… from the taxpayers… well, from the government who gets their money from the taxpayers. In fact, NACA recently got $16 million in government funding to provide housing counselors to distressed homeowners. But that’s not considered an up front fee, I suppose. So, you see… that’s free right there.
Oh, and one more thing… just for fun I looked up NACA on the Better Business Bureau Website and guess what? You guessed it… an ‘F’. Uh oh. So, maybe they are doing some loan modifications after all. Go figure.

Please note the only thing NACA is missing is the most important people (the underwriters).
I’m angry at both the bank and the organization — B of A and NACA. Is the idea of ’scam’ in my mind? Yes. And that’s a quick turnaround for me. But, it was a very difficult 60-minute call I had with the bank — to see what I thought was a gift, of sorts, a break, just kind of disintegrate.”

I recommend you do your research before going to one of these conventions. If you have a PMI do through them since they don't want you to foreclose on your home. The banks do since PMI will pay them the amount remaining.
3 votes Thank Flag Link Sat Apr 17, 2010
I am an active duty military offcer in foreclosure status with Countrywide. (lost 4 contracts on our home after being transferred last summer on orders) I just attended the Save the Dream event in DC this week. I also attended a seminar a month ago.
After being promised a solution within 2 hours, then 48 hours...I got no answer after 7 days as of tomorrow. It was an amazingly well facilitated and impressive processing and info collecting effort but I didn't meet anyone who had received an answer fm their lendor.
It would be hard to believe it is a scam, but our family needs results at this point...I guess we'll see.

Dennis Branson
3 votes Thank Flag Link Fri Jul 25, 2008
For all readers, I would like to post my experience with NACA: It’s truly the best home ownership program in America! Hands down- no questions.
I live in Summerlin, a very nice suburb, just outside Las Vegas Nevada, after relocating for job related reasons to the area. Somebody at work mentioned the NACA program, and I though like many, it sounded too good to be true and probably was a scam, etc, etc..How wrong I was!! Before being qualified, NACA asks for all your documentation supporting two years of Income, rent payments and other expenses and then you sit through several hours long counseling sessions where you prepare a complete budget and come up with a payment figure for a mortgage. Then, and only then, they give you a “NACA Qualified” status and assign you a realtor and a qualification letter that explains in detail, how much mortgage you can afford and a maximum price for the house. Old fashion, character based lending, the way it used to be, instead of those “no docs” loans that caused so much damage to the economy. But my story does not end here; The Bank of America “First Look” REO program is for REAL. We found a very nice REO in a great community in Summerlin (No dilapidated homes, etc) and placed an offer under the exact conditions of the program: Full price, no down payment, 10 points paid by the lender, and we got it!, and for those who are not familiar with the Las Vegas market, REO properties are bought in minutes and multiple offers are common. B of A honors their pledge to assign these properties to NACA owner occupied members and they sold it to us: no tricks, no buts, just as advertised. And the bank even did some of the repairs requested by the inspection. The home was pretty much in move in condition. Before anybody goes out screaming socialism or some other nonsense, let me explain why this program exists at all: B of A and many other large lenders went bankrupt due to poor lending practices during the last decade. You and I, the taxpayers, bailed them out. The federal government among some of the demands requested banks to change lending practices like investment properties and no docs, and give priority to owner occupied full doc buyers like NACA. It makes all the sense in the world: Investors and liars are the first to abandon a property when any, even the slightest problem arise. Homeowners on the other hand will keep their homes for as long as they can unless a major event like long time unemployment or sickness strikes, and even then, will do all they can to save it. Again, good old fashion lending practices that yield the low default figures for the NACA program. I closed on my new home about 6 months ago, and as I started this post, I went from “too good to be true” to NACA believer. I will be praising their program and their lending philosophy anytime they ask me to for their monthly seminars here in Las Vegas. To all the staff in the Las Vegas office my sincere gratitude for their efforts in bringing back common sense and the true meaning of home ownership.
2 votes Thank Flag Link Sun Apr 19, 2015
I think NACA is robbing the poor and pretending to be Robin Hood. They make $5000 per LOAN or mod from the banks. They make around 50,000,000.00-85,000,000.00 Million per EVENT. Do the math - they make $5000 x 17,000 = 85 MILLION!!! And they get FEES from people every month and make people volunteer...
They made 20 year deal with BOA for 6Billion and a
10 year deal with Citibank for 3 Billion
They get 1$ from every taxpayer also....
so for all of the cult members who thinks NACA is an amazing thing, take a look at those numbers and you tell me....who is the LOAN SHARK now?
They wear tshirts at events that say beware of loan sharks....
funny font you think?
I am calling the BBB monday to let them know---making fees off of new loans and satisfying the old "and probably fraudulent) loan, they can generate more fees from the banks on the funds they already have earmarked for them.
How can they call any one predators????
They are really making people look like fools....when is the greed going to stop???
Do a legitimate forensic audit on any loan before you modify....Dont you deserve to know who owns your note atleast?
check this out:
Of course they think we are predators...against the very leaders that our homeowners or putting their fith into...and their money.
Be careful, FREE things are usually too good to be true.....especially when they are making 85 MILLION per event...okay, maybe 50 MILLION......who's watching that hen house???
Stand up people!!! Share the knowledge and God Bless you and your family...
Boynton Beach, FL
Web Reference:
2 votes Thank Flag Link Sat Aug 28, 2010
I attended a seminar in West Palm Beach, Florida at the end of February. After 11 months of back and forth with Litton Loan I was very frustrated. NACA was able to get us an interest rate reduction AND a very large principal reduction off of our mortgage. Our savings total $750.00 per month and we were thrilled with the results. We are in the 2nd month of our trial payment - after June we are hoping the modification will become permanent. NACA also did a forensic audit for us which showed that our loan has numerous violations- we have seen an attorney and plan to go to court with our audit IF our modification doesn't become permanent. Thank you NACA, you are the best. WE LOVE YOU!!!
2 votes Thank Flag Link Mon May 24, 2010
My husband and I are currently working with NACA, and have had our shares of ups and downs. We knew it was going to take a while because our credit was not good, and we had to fix it. They do not give you a loan UNTIL your credit is improved! Be prepared to do work that will take time if you have poor credit. Secondly, no down payment, no closing costs is very misleading. When you go to purchase your home you have to have 3 months mortgage, one year of home insurance, and one year of taxes up front. Plus, we have had some difficulties figuring out what we have now dubbed "NACA math." Throughout the process you have to save the difference between your rent and what you would be paying for a mortgage they feel you could manage once you get approved. So, my husband and I opened a savings account which we have been depositing the rent to mortgage difference in for over 6 months now (this acount has not been touched except to deposit our money in to, BTW). A couple of weeks ago our NACA mortgage specialist called and told us when he "ran figures" on our two checking accounts and the savings account, we did not show a consistent rent to mortgage difference savings. My husband called and asked for an explanation, and the answer was cryptic and unclear. Now we were in danger of NOT getting approved again, even though we were doing exactly what they told us we needed to do, showing a consistent savings of $322 per month, and paying all of our bills on time. We have requested another meeting with our mortgage counselor to try and get some explanations. If this answer is confusing I apologize, this is what it is like to work with NACA.
2 votes Thank Flag Link Sun Mar 21, 2010
Sending you a hello from Maryland. My Dad bought his home through NACA back in 2008 and though the process took him some time, he was happy with the results. My Dad, at the time of purchase, was active military and worked for the Federal government and this program was still very useful to him. Someone from his work actually referred him to the program.
1 vote Thank Flag Link Thu Oct 15, 2015
NACCA is legitimate..It is a federally funded program to help you to qualify to purchase your own home
1 vote Thank Flag Link Mon Apr 27, 2015
I actually purchased a home through naca in july 2014. Im sorry for the negative reviews but my experience was mostly positive. Its not a quick homebuying program and they make sure you are ready and have your finances in order before you are approved. My credit score was 663, I had some credit issues from years ago but they were still on my report. Naca wants to see that you are paying your bills and that you are responsible even if you have had issues in the past. There is a lot of paperwork involved but in the end which was about 8 months, I have a home with a 2.5% interest rate and am paying $200 less for my mortgage than I was paying for rent. I am a real person and naca worked for me. Its not a quick homeownership program usually 4-8 months but it does work. I have a beautiful home to prove it!
1 vote Thank Flag Link Sat Apr 18, 2015
I don't even need to scroll thru most answers...I can sum up NACA for you quickly...OY VEY...a long, long, over drawn out, but backwards from the normal buyer purchase program...that, if you have patience, time..and patience, patience...did I mention patience? a good program because you cannot beat the rate or opportunity it provides...if you qualify and go through all their circus is a great way to buy a home for 1st time homebuyers that I can guarantee you will never go through again in your life...good luck!
1 vote Thank Flag Link Sun Oct 19, 2014
NACA in theory is great. However, in practice, they are quite flawed. The customer service seen at this company is terrible. Employees are instructed to lie and feed pipe-dreams to desperate homeowners. Bruce Marks cares very little (if at all) about the homeowners. He only sees them as dollar signs. Bruce is no better than the banks he “despises.” On any given conference call, Bruce can be heard screaming at employees to produce NUMBERS at the events. He could truly care less if the members are helped, as long as he gets paid. As a former employee, as I say with confidence that nearly 80% of all members that attempt to use NACA get lost in the shuffle.

Perhaps the only thing worse that their customer service is the way their employees are treated. They routinely hire ex-cons with little to no loss mitigation experience. Sadly, these are the employees that tend to stick around. Talented and competent employees often jump ship because of how they are treated. Bruce screams incessantly at employees. However, those that do not work directly for Bruce are not immune to the ingrained “treat all employees like dirt” culture that is standard at NACA. Frances Epps and Erick Exum see to it that employees are ‘kept in line.’ In addition to the horrible way employees are treated, they are not even paid adequately (or sometimes at all). NACA is notorious for systematically underpaying employees often turning their employees into the members in need of their services.

It seems to me that rather than “Saving the Dream” NACA’s practices are doing no more than perpetuating a nightmare.

If you have had problems with NACA, I suggest you call Bruce Marks personally. Since he is so 'concerned' about his members he shouldn't mind a few phone call right?

Bruce Marx's Personal Cell Number: 617) 835-4477
1 vote Thank Flag Link Fri Aug 27, 2010
NACA need this information not to steal it or anything this is for STAT purpose and to process your info I will bet you anything you want NACA is NOT a scam. I have been to their meeting to lower my home mortgage both in Atlanta and Tenn. My bank is a part of NACA and what they ask for they need it my process as been long but keep in mind my husband lost his job and I fell behind in payments. Am here to tell you today i have gotten exactly what I been waiting for they put the pressure on my bank to fix it and we have come to a positive agreement and I am truly happy about now am in a fix rate 3.8% what else could I ask for. You must keep in touch with NACA and all time I think NACA was never ready for the amount of people that needed their help and as been working to fix alot of the problems to serve us. Remember NACA as been around I think 28 years or more it was the best kept secret they do not place ads just word of mouth. Everyone please hand in there with them they are the real deal. they save my dream!!
1 vote Thank Flag Link Sun Aug 22, 2010
I represent sellers of a home in Silver Spring, MD, which is being purchased by approved NACA buyers. They have been pre-qualified by NACA since last December and are the perfect NACA clients. And yet, this seemingly simple transaction has been thwarted and delayed due to NACA's intolerable red tape. The entire process has been marred by what we have come to perceive as incompetence: layers and layers of requests and requirements, submission and resubmission of documents, inspections and re-inspections, unanswered calls and emails. My clients,the sellers, together with their two year old daughter, are now sleeping on the floor of their home waiting for this NACA nightmare to end. The buyers have long ago given notice to their landlord and are living in a family member's basement. Both the buyers and the sellers in this case did everything right and yet they are being held hostage by the endless bureaucracy that they have encountered. We were scheduled to close on 6/23/10, a conservative 60 days after the ratification of our contract. We have had two delays and are now being told that settlement may take place on or before 7/15/10. Everything has been submitted, a bank commitment letter has been received and yet we wait. Will there be a third unexplained delay? In the meantime, my client's next settlement is obviously also held up and in jeopardy.
I doubt that this is the kind of service you want your organization to be identified with. Please help.
1 vote Thank Flag Link Fri Jul 9, 2010
I am working with NACA and was supposed to close today and I'm getting ready to be homeless as of Monday. I have done everything they told me, I got an offer accepted on a home I was to close on July5th. The appraisal from NACA lender took almost a week in a half, it came back low so we submitted back to the seller which is Fannie Mae, they agreed to adjust the price to the apprised value. On Monday I signed the seller amendment for the lower price and they put July 13th for the closing, which gave 5 days for NACA underwriters to clear me to close. Everyone at NACA knew my lease expired June 1 I've been in this process since 2010. They tell me the delay was the redisclosed GFE but no one has told the seller this so they may back out the deal and I lose my escrow.
Flag Fri Jul 13, 2012
First of all a lot of people have very bad things to say about NACA when they only know a partial story. Get your information correct before bashing a company that has helped thousands of people save their homes. Like any other company, NOTHING IS GUARANTEED. NACA never once guaranteed any of the FREE SERVICES. The banks are not listening to homeowners. Desperate homeowners are paying money to lawyers to get them out of situations and are losing money because the lawyers cannot assist. Ultimately the banks make the decisions regardless. One thing about NACA is that because of Mr. Bruce Marks' tactics they have contracts with all of the major lenders. What these crazy blogs do not say is that when NACA holds these SAVE THE DREAM EVENTS many homeowners come and they fabricate their income or other information. When the banks do their research and find out that the information is a lie then the file is denied. So no it is not NACA's fault that a lot of these homeowner's have not gotten any help. It is their own fault because they won't tell the truth. They try to get over on the system and it comes to bite them later on. Then the blame is on NACA. People need to take responsibility for their own actions. They also need to be proactive and stop thinking that a non profit organization is going to hold their hand, do all the work and they do nothing but reap the reward. It does not work that way. The process is not a long process if people would listen and do exactly as told. The bank does not care about anyone's sob stories. The homeowners were the ones that signed a contract stating they could pay the bank "X" amount of money for their home when they purchased it. Now that they can no longer afford it, it's NACA's fault that the bank won't help. PEOPLE PLEASE WAKE UP AND TAKE A LOOK IN THE MIRROR AND ASK YOURSELF, " HOW MUCH FAULT DO I HAVE IN THIS" AND STOP BLAMING NACA FOR YOUR SHORT COMINGS.!!!!!!!!!!!!
1 vote Thank Flag Link Tue May 18, 2010
I don't have a sob story. I have a success story after a horrible time in my life. However, it was NACA who promised a "dream" come true - not endless delays. NACA has three YEARS worth of tax returns, pay stubs, and bank statements. Yes I have "listened" and done "exactly" as I was told. Yet I get stall after stall after stall from someone who says they don't have the time after promising to do something at a particular time on a particular day. Bruce Marks is a flim flam control freak. If you can prove otherwise contact me at
Flag Wed Nov 7, 2012
Today is March 30, 2010. I live in Minnesota and they are new to this area. I entered a purchase agreement on July 21, 2009. I attended a seminar in June and was informed of all the documents that I would need. My credit was not the best, so I had to take a little time to fix it, but it was nothing major.

I have been dealing with NACA for 9 months and there is still no closing in site. Every month I was promised by my NACA mortgate specialist that we would close, just to end up signing a new addendum every month and them asking for more bank statements and pay stubs. I was very naive and believed in a program that could not deliver. The NACA mortgage specialist in St. Paul, were very unprofessional and did not communicate with me as they should. I also got them the documents that they requested the same day or day after... so it was NACA that was so slow. I have solid work experience and solid income. It should have been easy.

Just a week ago, the seller and myself cancelled the NACA contract. It took me about 1 hour to get re-qualified with a REAL mortgage broker. We are expected to close in less than a month.

Maybe NACA is legit, I do not know... I had very bad experience with them and was promised things that did not happen.

The problem comes in when the seller of the property that you are trying to purchase is getting upset because they are still paying the mortgage on the home and they are also being promised fantasy closing dates.

It's a joke, unless you have over a year to wait to close. Good Luck.

Would not recommend this program.
1 vote Thank Flag Link Tue Mar 30, 2010
My wife and I started looking for a home several years ago during the "boom." We found out about NACA at a local church. We had no credit issues, etc. and were very organized with submitting papers. Our problem was that we were priced out and refused to purchase more home than we knew we could afford.
Fast forward several years and homes have reentered our price range. Naca in the meantime had changed. The lofty goal of "saving the dreams" of many homeowners has COMPLETELY OVERBURDENED THE ORGANIZATION. Same offices, same staff and promises to literally hundreds of thousands of individuals desperate to save their homes equals disaster! NACA cannot keep up with its inventory. That is what we have been living!
We have handed in all required documents in October of 2009, as always IMMEDIATELY, we had sacrificed and saved over 60.000 dollars, we have excellent credit and we haven't been able to receive a commitment letter. It is now almost April 2010. YOU CANNOT REACH ANYONE AT NACA (answering machine loops) AND YOU RECEIVE NO RESPONSES TO NUMEROUS EMAILS!!!! In short, their is no advocacy and a program that does not deliver is not a program, it's a farce! Many states have their own first time home buyer assistance programs (in New York, for example, there is Sonyma). Look into that.
I would not pay attention to any post before 2010 because it was in 2009 that NACA overburdened itself and rendered itself unreliable and thusly irrelevant.
1 vote Thank Flag Link Thu Mar 18, 2010
1 vote Thank Flag Link Wed Feb 3, 2010
I am a seller in Chicago who entered into a contract with a buyer working through NACA. It has been 4 months (late August '09) since entering into a contract and still no closing in sight. I have witnessed nothing but incompetence and unprofessional behavior from the NACA staff and their partners and would never voluntarily deal with this organization again in any capacity. Grader schoolers could run a more effective organization.
1 vote Thank Flag Link Mon Dec 21, 2009
NACA is legit but the no closing cost and no downpayment is a little misleading. Ive personally seen some people actually get money back when they went to closing but in my case i had to shell out 4K. NACA is a very long and drawn out process from start to finish and if you're expecting to close in 30 days you're going to be in for a rude awakening. It took us 90 days to close, we were supposed to close in sept and here it is november and we were just given the clearance. FYI my credit was dam near perfect. The Bank they go through CitiBank are being extra stingy and take forever to process any paperwork given to them. NACA also takes forever to process things and their customer service is horrible. You never get any questions answered and the only person you're allowed to talk to is your mortgage counselor, Ive called the regional supervisor several times and each time she directs me to the same person who wasnt answering my questions before.
Ill take you through a step by step of the process
1. Pre Qualify
- you cant have any outstanding debts on your credit report
- you cant have any overdrafts within the last 3 months on your bank account
- your total debt has to be less than 40% of your income for 1 year
2 find a house
- this is self explanatory
3 Contract
- Contract must be sent to NACA for processing which takes at least 3 days
- Home inspection must be done by a naca qualified inspector
- Whatever repairs the inspector recomends must be included into the loan without going over your limit
you can find your own contractor but they have to be approved by naca in order to make the repairs
4. Loan application
- once sent in you'll get a response within 3 days but it could take weeks to recieve the conditions
- loan wont be approved until conditions are met. Some conditions could be to show your paying bills on time, to show your not increasing debt or to show you have steady income even though you did all this to start the naca process
- once proof that these conditions are met they will take 4 business days to process and send back maybe longer. In some cases they may reject them and ask you to send them more proof
- once conditions are met you will be cleared to close but willl still have to wait another 3 days for the bank to send over the closing documents
5 Closing
- They force you to close at the NACA office which may be a problem if the seller is located out of state
- you close and get the keys and everything is you think
- you must wait at least a week after closing to get cleared for the repairs
- you have to pay NACA 50$ a month for the next 5 years

As of right now the bank they use is severly backed up and according to the mortgage consultant no one has closed on time since august
1 vote Thank Flag Link Sat Nov 21, 2009
As a real estate broker, I can tell you that I have had nothing but problems with NACA. Luckily, I haven't had to deal with NACA in at least five years. I won't get into specifics, but their business practices were (as of five years ago) a bit shady.
Web Reference:
1 vote Thank Flag Link Tue May 20, 2008
It is legit, they do good work and help a lot of people in trouble.
1 vote Thank Flag Link Tue May 20, 2008
They are legitimate. I am going through them, but am running into a separate issue where they cannot help me until I get my personal matter cleared up.
They were the organization that marched on the lobby of Bear Stearns when JP Morgan & the Government helped bail them out:
1 vote Thank Flag Link Wed May 14, 2008
I worked for 2 years sacrifice my little girl put my school on hold, save up 52, 000,00 My credit was only 601 at the time, I ask someone about a real estate he sent me to an Agent, than this agent send me to his Friend which he was a NACA counselor that was the first time I heard about this lairs. It took me 3 months and 3 appointments to get the counseling, meting, and give them all the required documents and then i got approved and they actually help find my house, them i got a called to come and get the key sign all the paper work about 5 minutes.. The story goes on on. MY ADVICE TO EVERYBODY IS TOO TRY TO STAY AWAY FROM THIS PEOPLE, THEY ARE A BUNCH OF LIES ALL THEY DO IS TAKE YOUR MONEY THEY DON'T HELP YOU AT ALL, ALL THOSE PUBLICITY OUT THERE IS THEIR OWN PEOPLE.
no money down -------------they took about 15000 + 23000 on top of my mortgage
live on your home for 10 years--------------lied as long as you have their mortgage you have to live in their home or you will get 25 000 fine and they will foreclosed on your home
every month you pay 50 membership--------------to help you in case you have problems but you be lucky if they answer the phone. My BIG ADVICE TO ALL THOSE THAT PURCHASED A HOME FROM THEM DON'T NEED TO TAKE MY WORLD FOR IT, HERE'S WHAT YOU DO GO TO YOUR HOME DEED DEPARTMENT ON YOUR TOWN AND GET A COPY OF WHAT EVER THE PAPER WORK YOU CAN FIND IN YOUR HOME, AND PLEASE i would like to know what you think about the NACA after you get your surprise. and i will keep all in my prayers that you don't find the same surprises i found out when others in my home town give me this advice I want everybody to help spread the word, Please have your document checked before something happens to you. Please protect what is yours you work had to get where you are to let NACA take what belongs to you. PLEASE FIND REPUTABLE AGENTS PLEASE DO GET YOUR LAWYER ASK QUESTIONS DON'T LET WHAT HAPPEN TO ME TO HAPPEN TO YOU TOO BECAUSE IT WILL COST YOU A LOT'S HEADACHE AND MONEY. NACA IS A VERY VERY VERY BAD ORGANIZATION THAT MAKES FALSES PREMISSES AND THEY DON'T FOLLOW THROUGH.
0 votes Thank Flag Link Sat Jul 18, 2015
Here comes a legit and genuine Xmas loan that can change your life for ever and ever i am Mrs. Lily Brown a legit and professional lender am here to help the less financial privilege to get back on track i want you to understand the fact that I Mrs. Lily Brown is here to help and not to cheat if you are in need of loan for any reasons i want you to know that i Mrs. Lily Brown is willing to provide you a loan with just 2% interest rate our loan terms and repayment schedule is very simple what are you waiting for my dear why don't you try Mrs. Lily Brown and be free from debts. You will never be disappointed by me in this transaction because you were not born to be a loser, Any interest clients should please get back to me via email Asap ( for further proceeds.

Please fill the below application form and get back if interested and
you will be glad of knowing a loan lender like Mr. Lucas Morgan


1)Full Names:
6)Marital Status:
8)Phone Number:
10)Monthly income:
11)Next of Kin:
12)Loan Amount Needed:
13)Loan Duration:
14)Purpose of Loan:

As soon as you fill the form above, I will send you my loan Terms And
Conditions Asap in order for us to proceed.

I will be looking forward to hear from you so as to proceed.
With Regards,

I will be looking forward to hear from you so as to proceed.
With Regards,
0 votes Thank Flag Link Sat Oct 18, 2014
my sister is in financial straits, three payments behind and she could really us some help, well is naca a scam????
0 votes Thank Flag Link Wed Oct 23, 2013
Lots of "Hoopla" - no results just anxiety.
0 votes Thank Flag Link Mon Aug 5, 2013
I'm in Dallas and have had no issues with NACA. As a member currently going thru the NACA process where we are in the "HAND" stage having just put a contract on a home, people ask all the time; "What are yall doing to get thru the program so quickly?" You must take the time to get ALL YOUR PAPERWORK together yourself. As it was explained to us, THIS IS NOT NACA's JOB, IT"S YOURS!! Everybody who completed the program and others who didn't said this was the major hurdle for them. This step is what keeps follow-ups and progress from taking place. Most NACA offices don't take constant incoming necessary calls when you can log in online and get an updated status. Before we even had our initial meeting, we had all the paperwork they required ready to upload in their system. This step right here shows you are serious and not wasting their already time filled schedules. And yes, you will have to resend paperwork multiple times. It is what it is. If you want to take advantage of the benefits you will reap from the program, you will have to put in some work. They fight large banks constantly on the back end so America's "47%", who some feel don't matter, can get ahead a little on the front end... My wife and I researched all our options as 1st time home buyers and NACA's process is going to allow us to make MONEY on our first home purchase. NACA teaches financial literacy , not spending above your means, making sure the home you find isn't a "rat trap", and after you've been blessed, paying it forward by volunteering, giving your testimony and helping bring some other men and women up... We're so scared to put in work these days. A phone call and an email isn't hard work. We had to get in touch with some old employers, have them send paperwork directly with copies being sent to us of the same info, banks send old statements we couldn't print from online for whatever reason, etc... The real estate, mortgage/lending game is vicious. If you plan on playing to win, NACA is the best thing going out there in 2013. If you like your hand being held, don't want to pull tons of paper work they will need to get you approved and expect others to do the bulk of the work for you while you plan to sit back and reap the benefits, you will not have a positive experience with NACA.
0 votes Thank Flag Link Sat Jun 8, 2013
Hi Bruce. I am a real estate agent on the East Coast, and I assure you NACA is legitimate. I have not had a client use them personally, but I have had mulitiple associates buy homes through their process. I initially learned of them when I was ready to purchase, but they were not available in my area. (I attended the seminar in another state). They have since become available in my state, and I have had friends may wonderful purchases.
0 votes Thank Flag Link Fri May 25, 2012
Income is not a limit. "There is no limitation on accessing the NACA mortgage based on income, credit score or other criteria. There are three eligibility criteria which provide minimal limitations. Properties must be located in areas where we provide services which is a large area and includes many states. The purchase price must be less than the maximum purchase price which is sufficiently high for low and moderate income buyers and those looking to purchase affordable properties. Lastly, the homebuyer must not own another property when they close on the NACA mortgage. We also expect Members to volunteer in whatever way they feel comfortable and to adhere to NACA's policies and procedures."

You can see this in the naca web page.

Other questions contact me at
0 votes Thank Flag Link Wed Nov 23, 2011
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
0 votes Thank Flag Link Wed Nov 23, 2011
I purchased a home using NACA in December 2010 so I became a real estate agent helping others through the purchasing process. Is NACA an easy process? Absolutely Not! Can it be done? Absolutely Yes? If you live in New York and would like help get some help with purchasing with NACA, please email me at

I purchased a three family home and I have a 2.375 interest rate. NACA has been a blessing to me and I'm willing to work with people who are determined to get past all the red tape to become a NACA home owner.
0 votes Thank Flag Link Tue Sep 27, 2011
I have been dealing with NACA in Charleston,SC and have been told that they are not processing any loans at this time, actually since January of 2011. My husband and I are due to be out of our lease in our apartment in two months and it seems like we are going to be stuck unless we go through a different process. This is very frustrating when you have your end covered and they dont.
0 votes Thank Flag Link Sun Apr 10, 2011
I have worked for NACA for three years as a mortgage consultant. Bruce Marks is the CEO of NACA. I like to refer to him as Robin Hood. He does not steal from the rich and give to the poor. He beats up the rich to stop taking advantage of low to moderate income people.

Home Save Program - All services are completely free!!! If you know of any one who is feeling threatened of foreclosure in any way. From, they are current now, but are un-sure if they will be able to afford their payment when their interest rate adjusts. To, they lost their job a year ago and are 10 months behind on their payments. NACA will negotiate and advocate on their behalf with their current lender to have that lender reduce the borrowers payment to a payment they can afford. This program is not interest rate driven. It is affordable payment driven. The lenders/servicers are finally figuring out, they are much better off reducing someone's payment to an affordable payment and making a fair amount of interest, then they are foreclosing on them and losing 10's of thousands of dollars. We have contracts with over 90% of the major lenders/servicers out there.

You are going to read forward about some people complaining about NACA. Please remember, we are not their lenders/servicers. We can not force their lender/servicers to restructure or modify their borrower's mortgages. All we can do is continue to applying pressure and keep advocating on the borrower's behalf. We do tell everyone to continue to advocate on their own behalf by contacting their lender/servicer's CEO. We also recommend they contact their local Congressman and Senator.

I truly wish we could provide everyone a sucess story. Believe me there are plenty of good ones. But, once again, we can not make the borrower's lender/servicer restructure or modify everyone's mortgage to an affordable payment.
0 votes Thank Flag Link Sat Jan 29, 2011
I can't even tell you how disgusted I am with this company! My husband and I are patient, hard working professionals and we were duped by this organization. Our counselor's mortgage license expired before we had our clear to close on our loan and we needed to fill out a whole new mortgage application. ARE YOU KIDDING ME? The legal reprocussions of this should have been a reason enough for this "non-profit" to get their act together. But no, we are now working on our 2nd extension on our P&S agreement and we still have no clue when we will move into our home. I am warning everyone who is reading this: this company will take advantage of you and your situation and give you promises that are not even possible. They will not let you talk to Bank of America and will hide behind them as the reason why the issues are not resolved. My husband met Bruce Marks the other day and he assured us it would be handled, so far nothing.
0 votes Thank Flag Link Thu Jan 13, 2011
Oh yeah, NACA is only going to help you at best by going over to where they are presenting themselves with the various banks to help determine assistance for a home modification program. In my opinion, they are a waste of time, 'cause i tried and tried myself plus submitted the documents they wanted and made phone calls which they do not return and i realize that the best way to get the bank's attention is to "sue them" and go pro per, yes at this point is where you get best attention, provided you can keep up this drama...
0 votes Thank Flag Link Mon Nov 8, 2010
Yes, we went with Naca after paying a loan rep. some upfront money and never saw this person again. We have been with Naca for 1 year and are finally closing after 3 months of a trial loan. We are content and you just gotta be patient but they do represent at least for free, no mortgage fraud here.
0 votes Thank Flag Link Mon Nov 8, 2010
NACA is shady in the way they do business. They claim to be a non-profit but they really aren't. Stay away from NACA!!!
0 votes Thank Flag Link Tue Oct 12, 2010
I heard of Naca about a year ago from an Aunt who was helped by Naca. They dropped her mortgage payment lower and she is happy with them. I am currently looking to naca for assistance to lower my payments and hope they can help.
But I fear my income may be too high for assistance if they look at gross. Does anyone know what is too much income?
0 votes Thank Flag Link Tue Sep 21, 2010
Wizard I am happy to hear you are trying to take preventative measures but NACA helps those in dire situations. You may be able to get a refinance on your home if what I read from your statement was correct from a regular bank.

I have clients who's homes are under water AND who's credit score has been tanked AND they have a very small income or worst yet looking at their unemployment being stopped just shortly or their home is already on the sheriff sale lists.

These people are the ones who have a few dings on their credit through unforseen circumstances like becoming suddenly ill, losing their jobs, or the mortgage they though was a great mortgage turned out to be a predatory loan and suddenly they were over their heads.

NACA was set up to help those people; people who couldn't or didn't know how to fight for themselves. NACA is not in the business of refinancing mortgages. I have seen cases where the mortgage holders (these banks) will not work with the mortgagee because they are current on their mortgage and have a significant amount of income even though they have way too much debt. It is not NACA's fault if those banks don't want to work something out with you.

Though your situation is not perfect it seems as if you have a few more options than some others who are in dire situations. Not saying your situation isn't worst than others yourself, just that it could be way worse. Some options I would look at would be to talk with a Financial Counselor and have them help you to reduce your debt in a timely fashion and create a budget for your household that specifies where every single dime goes of your income and where changes can be made.

NACA educates their clients on Finances and understanding how to stay financially fit for a lifetime not just today and you receive your mortgage and the following month after moving into your home you can't pay the mortgage. (It happens!)

Most folks don't understand the reason NACA came to be and their mission; NACA will not just give loans to give them...they do try to help all those persons who come to them for a home loan modification, though some just can't be helped.

Wizard I hope everything with your family goes well and you never have the need for NACA as that would mean something tragic has happened in your family...but to that I am confident to know that NACA would be there for oyu as well as situations can change on a daily basis. So don't hesitate to come back to NACA should your situation change.

You may contact me at anytime with questions.

Your Trusted Advocate,

Kelli Glover
Keller Williams
Direct: 216-272-3877
Fax: 440-808-9344

Real Estate Professional
Your Trusted Advocate; Expert Customer Service, Proven Results!
0 votes Thank Flag Link Tue Sep 14, 2010
I submitted everything to NACA and had my phone interview and was declined. I have a job, have a 30yr fixed mortgage, have a 750+ credit score, and havenever been late on a payment ever. I wanted to get a better rate and save a couple of hundred or so per month. I also have a spoecial needs child at home who is permantley disabled and costs. I was told I had too much liability that my monhly epxenses exceeded my income and I would have to reduce my expenses and raise my income. They offered a forebearabce which I declined. I dont understand, I wanted to practice preventative measures. How do all the low income, unemployed etc.. get loan restructure? WHat about middle america? I am just totally confused and pissed off. Who isnt upside doen? Who doesnt have high monhly expneses. I was told to lower my families food bill, get rido fcabe and interenet 3 necessitites in todays world.
0 votes Thank Flag Link Tue Sep 14, 2010
I’m Mr. Lacayo and I had the opportunity to assist in Florida twice to NACA event one in Miami Beach, last April as the latest in West Palm Beach. When you attend an event that brings together hundreds of thousands of people troubled by the imminent danger of losing your family home is difficult for any organization to make everything perfect and satisfy all attendees as it is obvious that each of the cases based entirely different type of loan, property, income, bank, ect.

In the event of Miami Beach for several reasons we could not obtain a loan modification but despite this we got the opportunity to feel supported by NACA Through his advisers to pursue a plan of action, alternatives and insist. the loan restructuring which got in the current events in West Palm Beach last Sunday, August 29, 2010. Our monthly payment was reduced by $ 1,061.00 thanks to qualify for a program available according to our situation.

It is important to the peace that can give to have on your side someone with knowledge of programs and consumer rights as we have and especially if that assistance does not cost you more than the effort to invest time to attend these events and That has a name: NACA. A through me experience in this process of modification I was able to telephone or personal interview with directors and staff of NACA and one of the things that most impressed me was the availability of listening to my concerns in this process whenever I need it, it certainly took me to wait many hours in the event or many days to wait for my appointment with any phone or shift counselor.

I don’t know Mr. Bruce Marks, but I hope to have the opportunity to thank you personally for myself and my family the wonderful idea of being the founder of NACA and bring help and hope to many distressed homeowners and education for new buyers. I know God will give him and the directors of NACA wisdom to learn from the experiences and mistakes as well as negative comments from some unhappy former ex-employee or any of those former mortgage broker who no longer make a fortune by exploiting the pocket less affluent.

NACA Forward, forward Bruce. Thanks for the help. May God bless you.

Lacayo Family
Miami, Florida.
0 votes Thank Flag Link Tue Aug 31, 2010
Bruce -

Contact your State's Attorney General's office. I suspect they will know exactly how to advise you.

Best of luck,
Thom Colby
Broker / Owner & Certified HAFA Specialist
Thom Colby Properties
Newport Beach, CA
Moving Lives Forward (TM)
We NEVER DOUBLE-END a Transaction in our Brokerage. There is NO benefit to the Seller or Buyer but only benefits the Agent.
888-391-5245 Direct Cell
0 votes Thank Flag Link Sun Aug 29, 2010
My name is Ms. Jimenez and I attended the NACA event in West Palm Beach , FL. I have personally met Mr. Marks and have seen his staff work hard at the event. I was treated with respect and NACA helped me thru the process. I don't see where you get off saying that Mr., Marks doesn't care about the homeowners!!! He is here and brought the banks to help us, the homeowners KEEP OUR HOMES. The words from his mouth were "We are here for you”, and has proved it by coming back to West Palm for a second time. I would like to know what company you know that has never gone thru customer service issues. I got a great solution with my lender and walked out with my modifications documents......THANK YOU NACA! I think that you are just a disgruntle employee and are trying your hardest to discredit an organization that employed you at one time. You should really move on and STOP discouraging homeowners that are trying to save their homes. LETS GO NACA KEEP DOING A GREAT JOB !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
0 votes Thank Flag Link Sun Aug 29, 2010
NACA WE Love you Like I just posted I was in an adjustable mortgage our first home and was taken for ride yes you MUST have patience NACA will work but keep in touch with them as they have the link to your Bank I was able to email my bank all the time when before they would never talk to me because I was behind I have save almost 700.00 on my new mod. now it will be PITI will all be included they way it should have been in the first place. And LITTON is my mortgage company I wish you all the very best but just have faith.
0 votes Thank Flag Link Sun Aug 22, 2010
We went to the seminar in NYC in Feb., 2010, have seen 3 different counselors, turned in paperwork almost 3 times. This is an extremely frustrating process. I have even had to write a letter stating that I would not be interested in purchasing a home I owned and sold ten years ago!! WHY???? We have paid all open balances off about 4 months ago and it seems like were getting the run around. We keep getting asked to turn in papers that were scanned into their system twice already. What are they doing with out paper work?? We even had to resend a bank statement b/c they couldn't see the URL..WTH?? For 6 months of frustration I'm starting to think it's not worth it...
0 votes Thank Flag Link Fri Aug 6, 2010
We were looking at NACA's website today and started to fill out the information, which included social security number, race and religion. Why in the world would they need this information? It is an HTTPS website so I guess it was okay to enter the social security number, but why would they need to know our race and religion. Isn't it illegal to base the outcome on race and religion? Then I started to do some research and looked up "NACA Scam" and came across several blogs. I'm glad we did not submit the information they were looking for, because based on everything I read it sounds like a financial nightmare.
0 votes Thank Flag Link Fri Jul 23, 2010
The Neighborhood Assistance Corporation of America (NACA) is a non-profit advocacy HUD certified community and home ownership counseling agency. NACA’s confrontational community organizing and revolutionary mortgage product have set the national standard for effective neighborhood stabilization programs. Our services are FREE. NACA has agreements with most all of the major Servicers in the country and relationships with the smaller Servicers. These agreements also extend to the major investors such as Fannie Mae and Freddie Mac.

Our Counseling Center will walk the homeowner through their budget and determine what the affordable mortgage payment is. Once the homeowners file is complete with documents, proposed payment, the package will be sent to their Lender/Servicer. Once the servicer reviews the proposal and sent an offer back to NACA, we will than go over the offer with the homeowner if it is requested. If the offer is not acceptable to the homeowner, NACA will advocate for them for a better offer within the guidelines of our agreements. NACA's success rate is the best in the country and worth a try! Please go to to start the process or call 888-404-6222 to speak to a NACA Representative.

Also our goal is to have a method for our members to interact, share stories while providing NACA the ability to improve our Customer Service via your feedback.

We have launched The Official NACA’s Public Forum

Our forum is being monitored by NACA Staff and you will receive assistance and direction per your request.

Keep in mind that the forum is NOT a replacement for NACA Counseling. If you need to schedule an appointment to speak with a counselor, please do so through the main site: and logging into your Web File or call 888-404-6222 to speak to a NACA Representative.

Please also keep in mind as these forums are public in nature, DO NOT POST your NACA ID, password, email address, Social Security Number or Tax ID in these forum. Please also keep our forums free and clear of any profanity, racism, rude language, and inflammatory comments.

Thank you, and enjoy our NACA Public Forum
Web Reference:
0 votes Thank Flag Link Tue Jul 20, 2010
NACA has almost made me have a nervous breakdown and assisted in my family almost becoming homeless. I got involved with NACA in Aug. 2009, it is now June 26, 2010 and my family has already invested about $1400.00 into the process and still no closing yet. Not to mention I gave my current Landlord our notice to leave and my family has nowhere to go in 4 days (6/30/10)... AND still no CLOSING!!! And the seller of the home we are trying to buy informed us that because NACA is taking so long they have to put the house back on the market!!! My experience with NACA thus far has been full of incompetence!!!! NACA Nonsense!!!
0 votes Thank Flag Link Sat Jun 26, 2010
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