NACA Complaints and Reviews

By
Mortgage and Lending with Loan Modification

                                                  NACA Complaints and Reviews

 

Before  I decided to write this blog, I really deliberated over it. I am not one to bash companies, especially ones that have been featured on CNN and are perceived to be helping people in need. But after watching the CNN special on NACA (Neighborhood Assistance Corporation of America) I decided to do some of my own research and find out about this free assistance they offer homeowners in distress. (I work hand in hand with Attorneys who help homeowners avoid foreclosure, but some folks don't have money for an Attorney so I wanted to find a place I could send people for free help, although the results probably wouldn't be as rewarding.) Well, needless to say I was more than astonished and appalled at what I found and I promised a lot of people that I would post a blog dedicated to them. My blogs tend to show up in Google frequently because of the valuable information I provide. 

First off, I would like to say I have not had any personal experience with NACA or their counselors. But I have found many many websites where people are complaining about their experiences with NACA. I have also seen a few comments about how NACA did help them. I am glad I did this research before deciding to send people here. I have read NACA's webpage that explains the Home Save Program and what they portray on this particular page seems to conflict with what many homeowners are saying. 

 

Here are just a few of the NACA Complaints and Reviews I have found, although I am sure NACA has helped some people .But this blog is focused on complaints and reviews from homeowner's themselves. I encourage anyone who has had an experience with NACA to post a comment. You will be seen and heard and will also help others as they are doing research to find a solution. You do not have to register to comment and feel free to stay anonymous.

 

"Written by (will not state name), on 04-08-2010 22:12 

Naca is a sorry company . I almost lost my home behind them. THANKS TO GOD SAVE MY HOME!!! All they do is get you deep behind. THey do not update the file on lines as there is where you willget your update. If you look at my udate no reponse from the Bank. The Bank response three months ago. I had 20 of worry almost lost my home and I was sick made about 50 calls over and over. No one knows what the *** the process consists of. I did not even know my case worker name I was back and forth with many. Please be advise with this company they do not know one file form the other. Like everyone there on the dam job training whilw you about to lose your home!!!!!!"

 

"Written by (will not state name), on 25-06-2010 11:51 

I too have wasted a considerable amount of time and energy believeing in and trusting NACA. They come to you as a savior but in the end do very little if anything to help you. We went to the "Save the Dream" tour, wasted almost 2 days waiting around, listened to testamonials with people crying about thier new lower mortgage, I wonder what kind of tears they are crying now. We pay our mortgage and can now afford it but we want out of the predatoryinterest only loan and that is one of the promises that NACA made. Well we have been denied a modification and NACA will not return my calls or emails. WOW.. Of course the worst part is that now that we are working with NACA our lender won't deal directly with us. What a colassal waste of time!!! Be warned... DON'T DO IT!  Oh, and in my "Save the Dream" excitment I referred 2 others to NACA and they too have gotten nothing but frustration."

 

"Written by Dianey, on 22-06-2010 06:57 

I had two years of my time wasted with NACA, including a 12 hour day I spent at one of their Save The Dream events. Went through the entire process twice because the first time nothing happpened for an entire year and my paperwork was lost. A year later I went to Save the Dream and applied again and and nothing ever came of it either. I got a lot of run around, no follow up, no returned phone calls, great difficulty getting through to anyone. My lender said they never got the paperwork from NACA because they don't accept it electroncially. NACA says they only do it electronically and do it all the time, so the bank must be lying. NACA said they would get a negotiator on the case and get back to me and they never did. I never heard from anyone. I got nowhere. So much for saving my dream. Instead of taking so many on and then letting so many fall through the cracks, why don't they take fewer and follow through on the ones they do take instead of the shot gun approach. I don't understand this organization."

 

"Written by NACA phone counseling not help, on 04-06-2010 13:57 

I have been trying to do phone counseling with NACA for help in forclosure prevention since February. I went to a workshop in December 2009. Submitted my paperwork electronically and when I got a phone session, the agent said to send in the same paper work that I had already filled in on the website and that I had already faxed. There were several phone appointments that I never got a call at the appointment time. I tried calling back and got lost in queue purgatory. Tried emailing and never got a reply. So much time when by that when I finally got another NACA phone person on the phone, she said I had to RE-SUBMIT ALL PAPERWORK because it has to be kept up to date"

 

*There are hundreds, maybe even thousands more complaints. I will not post them all, but please feel free to vent and explain your experience to others.*

 

Also, I would like to mention that I do have a Nationally based Law Firm that is affordable compared to most, who have a refund policy, and have been established for 20 years that I can refer you to. If you have tried this route with NACA and it hasn't worked for you, and you still have a little fight left in you, I would strongly recommend you to get legal council. I also offer free advice and will give you as much guidance as possible. 

 

 

NO SPAMMING OR ADVERTISING ON MY BLOGS! MY BLOGS ARE FOR INFORMATIONAL PURPOSES ONLY!

 

More useful Blogs:

 

How to Avoid Loan Modification / Loss Mitigation Scams

Loan Modification Scams Update

Loss Mitigation Services FAQ's

Investors Facing Foreclosure

Why won't my lender won't work with me?

How to Prevent Foreclosure on Your Investment Property

www.KeepYourProperty.info

 

 

 

 


close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the pants to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Topic:
ActiveRain Community
Location:
Florida
Groups:
All About Mortgages/Mortgage Networking
All Things Florida
Christianity and Real Estate
Foreclosure Talk
Mortgages
Tags:
neighborhood assistance corporation of america
naca free help
what is naca
can naca help me
naca scam
naca complaints
naca reviews

Comments 43 New Comment

Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the folder to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Show All Comments
Anonymous #26
Anonymous
Julie Winters

I just attended a NACA event in Detroit on April 14, 2012 and fond it to be a waste of my time.  They are simply the "Middlemen" and the  program is really designed for people who are truly ignorant about the mortgage financing and modification process.  Much of the stuff they went over was very basic, very elementary--they even explained it in that way--I felt like I was in grade school.  Yet, for all the time it took me to go through orientation, talk to a phone counselor, THEN my lender (a total of 5.5 hours), I was told that I was (pre)approved for a temporary modification, but I would need to submit additional information, if asked.  Well, I already submitted my 2009, 2010 AND 2011 tax returns, three of my most recent paystubs, a financial hardship letter AND two modification applications-one that NACA had me fill out and one that my lender had me fill out as well.  What more do you f*****g need???  Blood??  Then I was told that the process will still take several weeks.  All of this just to save $164 a month. 

 

I could have done everything directly with my lender and used that 5.5 hours for something more beneficial.  Don't get me wrong--modifying a loan is a good thing, but NACA is for people who simply need a lot of handholding and education about the process.  I don't.  And that's 5.5 hours of my life I won't get back.  

Also, their web-site sucks.  I tried applying online before even attending the event and parts of my application were not even saved and even if you answer "no" to questions about filing bankruptcy or having the house listed for sale, the system doesn't recognize your answer and it requires that you provide a BK case number, the listing price, etc.  Truly frustrating. So, really, that was another 2 to 3 hours I wasted with NACA.  Thanks, you have been less than helpful!

April 15, 2012 09:24 AM
Anonymous #27
Anonymous
Julie Winters

I just attended a NACA event in Detroit on April 14, 2012 and fond it to be a waste of my time.  They are simply the "Middlemen" and the  program is really designed for people who are truly ignorant about the mortgage financing and modification process.  Much of the stuff they went over was very basic, very elementary--they even explained it in that way--I felt like I was in grade school.  Yet, for all the time it took me to go through orientation, talk to a phone counselor, THEN my lender (a total of 5.5 hours), I was told that I was (pre)approved for a temporary modification, but I would need to submit additional information, if asked.  Well, I already submitted my 2009, 2010 AND 2011 tax returns, three of my most recent paystubs, a financial hardship letter AND two modification applications-one that NACA had me fill out and one that my lender had me fill out as well.  What more do you f*****g need???  Blood??  Then I was told that the process will still take several weeks.  All of this just to save $164 a month. 

 

I could have done everything directly with my lender and used that 5.5 hours for something more beneficial.  Don't get me wrong--modifying a loan is a good thing, but NACA is for people who simply need a lot of handholding and education about the process.  I don't.  And that's 5.5 hours of my life I won't get back.  

Also, their web-site sucks.  I tried applying online before even attending the event and parts of my application were not even saved and even if you answer "no" to questions about filing bankruptcy or having the house listed for sale, the system doesn't recognize your answer and it requires that you provide a BK case number, the listing price, etc.  Truly frustrating. So, really, that was another 2 to 3 hours I wasted with NACA.  Thanks, you have been less than helpful!

April 15, 2012 09:24 AM
Anonymous #28
Anonymous
Julie Winters

I just attended a NACA event in Detroit on April 14, 2012 and fond it to be a waste of my time.  They are simply the "Middlemen" and the  program is really designed for people who are truly ignorant about the mortgage financing and modification process.  Much of the stuff they went over was very basic, very elementary--they even explained it in that way--I felt like I was in grade school.  Yet, for all the time it took me to go through orientation, talk to a phone counselor, THEN my lender (a total of 5.5 hours), I was told that I was (pre)approved for a temporary modification, but I would need to submit additional information, if asked.  Well, I already submitted my 2009, 2010 AND 2011 tax returns, three of my most recent paystubs, a financial hardship letter AND two modification applications-one that NACA had me fill out and one that my lender had me fill out as well.  What more do you f*****g need???  Blood??  Then I was told that the process will still take several weeks.  All of this just to save $164 a month. 

 

I could have done everything directly with my lender and used that 5.5 hours for something more beneficial.  Don't get me wrong--modifying a loan is a good thing, but NACA is for people who simply need a lot of handholding and education about the process.  I don't.  And that's 5.5 hours of my life I won't get back.  

Also, their web-site sucks.  I tried applying online before even attending the event and parts of my application were not even saved and even if you answer "no" to questions about filing bankruptcy or having the house listed for sale, the system doesn't recognize your answer and it requires that you provide a BK case number, the listing price, etc.  Truly frustrating. So, really, that was another 2 to 3 hours I wasted with NACA.  Thanks, you have been less than helpful!

April 15, 2012 09:39 AM
Anonymous #29
Anonymous
Julie Winters

I just attended a NACA event in Detroit on April 14, 2012 and fond it to be a waste of my time.  They are simply the "Middlemen" and the  program is really designed for people who are truly ignorant about the mortgage financing and modification process.  Much of the stuff they went over was very basic, very elementary--they even explained it in that way--I felt like I was in grade school.  Yet, for all the time it took me to go through orientation, talk to a phone counselor, THEN my lender (a total of 5.5 hours), I was told that I was (pre)approved for a temporary modification, but I would need to submit additional information, if asked.  Well, I already submitted my 2009, 2010 AND 2011 tax returns, three of my most recent paystubs, a financial hardship letter AND two modification applications-one that NACA had me fill out and one that my lender had me fill out as well.  What more do you f*****g need???  Blood??  Then I was told that the process will still take several weeks.  All of this just to save $164 a month. 

 

I could have done everything directly with my lender and used that 5.5 hours for something more beneficial.  Don't get me wrong--modifying a loan is a good thing, but NACA is for people who simply need a lot of handholding and education about the process.  I don't.  And that's 5.5 hours of my life I won't get back.  

Also, their web-site sucks.  I tried applying online before even attending the event and parts of my application were not even saved and even if you answer "no" to questions about filing bankruptcy or having the house listed for sale, the system doesn't recognize your answer and it requires that you provide a BK case number, the listing price, etc.  Truly frustrating. So, really, that was another 2 to 3 hours I wasted with NACA.  Thanks, you have been less than helpful!

April 15, 2012 09:39 AM
Anonymous #30
Anonymous
Julie Winters

I just attended a NACA event in Detroit on April 14, 2012 and fond it to be a waste of my time.  They are simply the "Middlemen" and the  program is really designed for people who are truly ignorant about the mortgage financing and modification process.  Much of the stuff they went over was very basic, very elementary--they even explained it in that way--I felt like I was in grade school.  Yet, for all the time it took me to go through orientation, talk to a phone counselor, THEN my lender (a total of 5.5 hours), I was told that I was (pre)approved for a temporary modification, but I would need to submit additional information, if asked.  Well, I already submitted my 2009, 2010 AND 2011 tax returns, three of my most recent paystubs, a financial hardship letter AND two modification applications-one that NACA had me fill out and one that my lender had me fill out as well.  What more do you f*****g need???  Blood??  Then I was told that the process will still take several weeks.  All of this just to save $164 a month. 

 

I could have done everything directly with my lender and used that 5.5 hours for something more beneficial.  Don't get me wrong--modifying a loan is a good thing, but NACA is for people who simply need a lot of handholding and education about the process.  I don't.  And that's 5.5 hours of my life I won't get back.  

Also, their web-site sucks.  I tried applying online before even attending the event and parts of my application were not even saved and even if you answer "no" to questions about filing bankruptcy or having the house listed for sale, the system doesn't recognize your answer and it requires that you provide a BK case number, the listing price, etc.  Truly frustrating. So, really, that was another 2 to 3 hours I wasted with NACA.  Thanks, you have been less than helpful!

April 15, 2012 09:39 AM
Anonymous #31
Anonymous
Julie Winters

I just attended a NACA event in Detroit on April 14, 2012 and fond it to be a waste of my time.  They are simply the "Middlemen" and the  program is really designed for people who are truly ignorant about the mortgage financing and modification process.  Much of the stuff they went over was very basic, very elementary--they even explained it in that way--I felt like I was in grade school.  Yet, for all the time it took me to go through orientation, talk to a phone counselor, THEN my lender (a total of 5.5 hours), I was told that I was (pre)approved for a temporary modification, but I would need to submit additional information, if asked.  Well, I already submitted my 2009, 2010 AND 2011 tax returns, three of my most recent paystubs, a financial hardship letter AND two modification applications-one that NACA had me fill out and one that my lender had me fill out as well.  What more do you f*****g need???  Blood??  Then I was told that the process will still take several weeks.  All of this just to save $164 a month. 

 

I could have done everything directly with my lender and used that 5.5 hours for something more beneficial.  Don't get me wrong--modifying a loan is a good thing, but NACA is for people who simply need a lot of handholding and education about the process.  I don't.  And that's 5.5 hours of my life I won't get back.  

Also, their web-site sucks.  I tried applying online before even attending the event and parts of my application were not even saved and even if you answer "no" to questions about filing bankruptcy or having the house listed for sale, the system doesn't recognize your answer and it requires that you provide a BK case number, the listing price, etc.  Truly frustrating. So, really, that was another 2 to 3 hours I wasted with NACA.  Thanks, you have been less than helpful!

April 15, 2012 09:43 AM
Anonymous #32
Anonymous
user

Can anyone tell me how NACA verifies if you still live in your home?  Also, if they find out you do not live in your home, how do they enforce the rules? Is the lein payback immediate or are you given time to rectify the issue?

 

Thanks.

April 17, 2012 10:46 AM
Anonymous #33
Anonymous
user

Can anyone tell me how NACA verifies if you still live in your home?  Also, if they find out you do not live in your home, how do they enforce the rules? Is the lein payback immediate or are you given time to rectify the issue?

 

Thanks.

April 17, 2012 10:46 AM
Anonymous #34
Anonymous
tina

i attended a NACA workshop in washington DC last week. I went to attend the first time homebuyer workshop... after being push by many people that i know that have purchased a home through NACA and my mother ( she is a realestate agent as her part-time job) . The people that I know experience AFTER purchasing their homes have went well.  Im not going to sit here a write a whole essay so i will give brief pros and cons....

 

Pros: I was given the option to consult with a counselor face to face or via telephone..... i choose face to face. The counselor was nice and straight to the point with me on the things i needed to do about my credit/debts to become a successful home owner.

- the first time homebuyer seminar was very informative.... especially for people that do not know much about the home buying process.

 

Cons: The first day i went i didnt know ( because it wasnt advertised) that the workshop had set class schedules... the hours were 9am 1pm and 5pm. The 5pm class was unable to see counselors the same day... so we had to come back before the workshop was over.

- From talking with others it seems that NACA counselors have a LARGE case-load. this is where i heard the most complaints. about counselors not responding back or taking a long time to respond back to clients.  I feel these things could be solved by hiring more well trained counselors.

 

this is all i really have to say. i was scheduled to meet with my counselor 6 months from now...Due to the fact this will give me adequate time to pay of certain bills.

April 26, 2012 09:47 PM
Anonymous #35
Anonymous
tina

i attended a NACA workshop in washington DC last week. I went to attend the first time homebuyer workshop... after being push by many people that i know that have purchased a home through NACA and my mother ( she is a realestate agent as her part-time job) . The people that I know experience AFTER purchasing their homes have went well.  Im not going to sit here a write a whole essay so i will give brief pros and cons....

 

Pros: I was given the option to consult with a counselor face to face or via telephone..... i choose face to face. The counselor was nice and straight to the point with me on the things i needed to do about my credit/debts to become a successful home owner.

- the first time homebuyer seminar was very informative.... especially for people that do not know much about the home buying process.

 

Cons: The first day i went i didnt know ( because it wasnt advertised) that the workshop had set class schedules... the hours were 9am 1pm and 5pm. The 5pm class was unable to see counselors the same day... so we had to come back before the workshop was over.

- From talking with others it seems that NACA counselors have a LARGE case-load. this is where i heard the most complaints. about counselors not responding back or taking a long time to respond back to clients.  I feel these things could be solved by hiring more well trained counselors.

 

this is all i really have to say. i was scheduled to meet with my counselor 6 months from now...Due to the fact this will give me adequate time to pay of certain bills.

April 26, 2012 09:47 PM
Anonymous #36
Anonymous
tina

i attended a NACA workshop in washington DC last week. I went to attend the first time homebuyer workshop... after being push by many people that i know that have purchased a home through NACA and my mother ( she is a realestate agent as her part-time job) . The people that I know experience AFTER purchasing their homes have went well.  Im not going to sit here a write a whole essay so i will give brief pros and cons....

 

Pros: I was given the option to consult with a counselor face to face or via telephone..... i choose face to face. The counselor was nice and straight to the point with me on the things i needed to do about my credit/debts to become a successful home owner.

- the first time homebuyer seminar was very informative.... especially for people that do not know much about the home buying process.

 

Cons: The first day i went i didnt know ( because it wasnt advertised) that the workshop had set class schedules... the hours were 9am 1pm and 5pm. The 5pm class was unable to see counselors the same day... so we had to come back before the workshop was over.

- From talking with others it seems that NACA counselors have a LARGE case-load. this is where i heard the most complaints. about counselors not responding back or taking a long time to respond back to clients.  I feel these things could be solved by hiring more well trained counselors.

 

this is all i really have to say. i was scheduled to meet with my counselor 6 months from now...Due to the fact this will give me adequate time to pay of certain bills.

April 26, 2012 09:48 PM
Anonymous #37
Anonymous
tina

i attended a NACA workshop in washington DC last week. I went to attend the first time homebuyer workshop... after being push by many people that i know that have purchased a home through NACA and my mother ( she is a realestate agent as her part-time job) . The people that I know experience AFTER purchasing their homes have went well.  Im not going to sit here a write a whole essay so i will give brief pros and cons....

 

Pros: I was given the option to consult with a counselor face to face or via telephone..... i choose face to face. The counselor was nice and straight to the point with me on the things i needed to do about my credit/debts to become a successful home owner.

- the first time homebuyer seminar was very informative.... especially for people that do not know much about the home buying process.

 

Cons: The first day i went i didnt know ( because it wasnt advertised) that the workshop had set class schedules... the hours were 9am 1pm and 5pm. The 5pm class was unable to see counselors the same day... so we had to come back before the workshop was over.

- From talking with others it seems that NACA counselors have a LARGE case-load. this is where i heard the most complaints. about counselors not responding back or taking a long time to respond back to clients.  I feel these things could be solved by hiring more well trained counselors.

 

this is all i really have to say. i was scheduled to meet with my counselor 6 months from now...Due to the fact this will give me adequate time to pay of certain bills.

April 26, 2012 09:48 PM
Anonymous #38
Anonymous
tina

i attended a NACA workshop in washington DC last week. I went to attend the first time homebuyer workshop... after being push by many people that i know that have purchased a home through NACA and my mother ( she is a realestate agent as her part-time job) . The people that I know experience AFTER purchasing their homes have went well.  Im not going to sit here a write a whole essay so i will give brief pros and cons....

 

Pros: I was given the option to consult with a counselor face to face or via telephone..... i choose face to face. The counselor was nice and straight to the point with me on the things i needed to do about my credit/debts to become a successful home owner.

- the first time homebuyer seminar was very informative.... especially for people that do not know much about the home buying process.

 

Cons: The first day i went i didnt know ( because it wasnt advertised) that the workshop had set class schedules... the hours were 9am 1pm and 5pm. The 5pm class was unable to see counselors the same day... so we had to come back before the workshop was over.

- From talking with others it seems that NACA counselors have a LARGE case-load. this is where i heard the most complaints. about counselors not responding back or taking a long time to respond back to clients.  I feel these things could be solved by hiring more well trained counselors.

 

this is all i really have to say. i was scheduled to meet with my counselor 6 months from now...Due to the fact this will give me adequate time to pay of certain bills.

April 26, 2012 09:49 PM
Anonymous #39
Anonymous
tina

Cons: The first day i went i didnt know ( because it wasnt advertised) that the workshop had set class schedules... the hours were 9am 1pm and 5pm. The 5pm class was unable to see counselors the same day... so we had to come back before the workshop was over.

- From talking with others it seems that NACA counselors have a LARGE case-load. this is where i heard the most complaints. about counselors not responding back or taking a long time to respond back to clients.  I feel these things could be solved by hiring more well trained counselors.

 

this is all i really have to say. i was scheduled to meet with my counselor 6 months from now...Due to the fact this will give me adequate time to pay of certain bills.

April 26, 2012 10:10 PM
Anonymous #40
Anonymous
tina

Cons: The first day i went i didnt know ( because it wasnt advertised) that the workshop had set class schedules... the hours were 9am 1pm and 5pm. The 5pm class was unable to see counselors the same day... so we had to come back before the workshop was over.

- From talking with others it seems that NACA counselors have a LARGE case-load. this is where i heard the most complaints. about counselors not responding back or taking a long time to respond back to clients.  I feel these things could be solved by hiring more well trained counselors.

 

this is all i really have to say. i was scheduled to meet with my counselor 6 months from now...Due to the fact this will give me adequate time to pay of certain bills.

April 26, 2012 10:21 PM
Anonymous #47
Anonymous
Melissa Bremberger
I bought a house through NACA in 2010 and not only did I buy a house, I bought a house that we would not have been able to get without NACA, paid no down payment, no closing cost, no private mortgage insurance and we bought our interest rate down to 0.062%. I had good credit and was offered several loans before I came across NACA. (all about $40,000 less than the $160,000 NACA got me) I would like to start by saying that this program offers benefits that are truly unheard of!!!! On the other hand it does come at a cost, a cost of great patience and perserverance. If you can jump through the paperwork hoops and provide all of the information that they continuously need and put up with less than perfect customer service (please realize that these counselors are over-worked and underpaid - you will come to realize that during the process), and have the patience to wait through the sometimes long tedious process, the end result is phenomenal and well worth the wait! Most people do not make it to the end for obvious reasons, but not because it is a scam or not possible. My biggest complaint now is that I do not get to itemize deductions because I only pay $75/year in interest. Thats a pretty nice complaint to have if you ask me. NACA made my dreams come true - I am a fan! I cannot speak personally on the home save program, but I do have a friend that has had success going through that program as well. This is a non-profit organization - people expect to get something for nothing along with great customer service is why there are complaints. If you do your part, NACA will help you. If great customer service is more important to you than saving a lot of money, you are better off paying more and going through a bank for a traditional loan.
February 04, 2014 11:45 AM
Anonymous #48
Anonymous
Alecia Smith
I am totally surprised about all the negative comments about NACA. I have been a Realtor for over 14 years and I have worked the NACA program the last 4 years. I am not a NACA Realtor but I sell many homes through the NACA program in the Dallas/Ft Worth Metroplex. Every client I have sent to NACA closed and closed on time. It's the Realtor's responsibility to assist their client through the process and if I have a buyer that is not willing to take the necessary steps to become a homeowner I simply do not waste my time and cut my losses. The buyer has a responsibility to keep their files current and follow the task list they are given by their loan consultant. My most recent client went to the workshop on January 22nd, received their NACA ID via email the following week, paid their membership fee and credit report fee, uploaded all their documents, completed the online questionaire and scheduled their appointment for February 4th with the loan consultant and was approved the following week and we went to the approval workshop that Thursday to receive his apporval letter. It doesn't get any better than that. So my recommendation is rather than complaining about the process, do what it takes to get approved and use an experienced Realtor that understands the NACA process and you will close in 30 days from the date your contract is executed. NACA is the only program that has 100% financing, pays your closing costs and does not have mortgage insurance premiums and the lender now pays the $50 NSF fee that by the way benefits the buyer if you have a hardship and no credit score requirements. Try to go FHA and it's not going to happen!!! Unless you have a 620 credit score, no late payments, no collections and by the way FHA requires collections to be paid now and the MIP is extremely high and it now stays with your mortgage payment for the life of the loan. So while you all are making such negative comments there are just as many buyers that are closing with NACA and moving in to their new home that you could have had if you just followed the guidelines. Nothing doesn't come without work involved. So I highly recommend you think about what really went wrong with the NACA process and why you didn't stick with it. Could be you or an inexperienced Realtor trying to work the NACA program? So if you live in the DFW Metroplex and you don't have a Realtor contact me if you are serious about purchasing a home thorugh NACA and I will be happy to meet with you for a oonsultation. Happy Homebuying, Alecia Smith, William Davis Realty 214-274-6056 aleciasmith@northtexashometeam.net
February 24, 2014 08:24 AM
Rainmaker
126,834
Melissa Polce
Lake to Land, I've Got It Covered!
Allen Tate

They have all personally sucked the life out of me and my clients like vampires, I am currently keeping myself amused by trying to finad a good acronymn for NACA so I can write my next blog, every person in that Association should be replaced by computers...the only person needed outside a credit counselor is a mortgage officer/consultant and lending team...give the same benefit of this great mortgage and no PMI without all the paper pushers in between....then maybe a 30 days process could well stay 30 days and not 75 DAYS and counting, with no CLOSE DAY in sight...this transaction has made me drink more alcohol than normal transactions....God Bless America when this thing closes...IF YOU WANT TO KNOW WHAT A BACKWARDS REAL ESTATE TRANSACTION IN HOPES OF SAVING A FEW HUNDRED DOLLARS LOOKS LIKE? THEN LOOK NO FURTHER THAN NACA

April 24, 2014 01:50 PM
Anonymous #50
Anonymous
Tim Trumble
Melissa Polce, if you are having such huge issues with NACA, why have you not reached out to NACA management or tried to contact NACA through the NACA Real Estate Department, through our social media channels, or other methods? Certainly, that has a much greater chance of resolving any issues than posting vague accusations on this website. NACA has never been nor will it ever be a 30 day process. The "own a home in 30 days" brokers were the ones who created the predatory, structured to fail loans that caused the housing bubble and in turn the Great Recession. NACA's full document underwtiting takes no shortcuts whatsoever which is why we are able to save home buyers tens of thousands of dollars (not "hundreds") over virtually any other lending source. You may want to attend the Realtor workshop held on the first Thursday evening of every month at the local NACA office in Charlotte and in every NACA office nationwide. This will give you a greater understanding of how the NACA process works, why it is so different, and why that difference has made the NACA program so successful.
April 24, 2014 02:23 PM
Rainmaker
126,834
Melissa Polce
Lake to Land, I've Got It Covered!
Allen Tate

Tim, if you want to message me, and you work for NACA, feel free mjpolce1@gmail.com...I am not saying the first part of credit repair management and counseling is bad, the rest of it from contract to close...plainly sucks-yes there have been people on the file that have been somewhat helpful...but overall-backwards, when in this day and age you wait 30 days to do an appraisal, when your approved inspectors hold up a sign off from Hand(and come to find out-it was the inspector whom did not know how to inspect a certain type fireplace)...when its been 75 days and my folks cannot have direct access to a loan officers name, when there is no direct date in sight to close and yet we have 3 emails(and 10 days) saying there is no other stips...I am just one agent, my folks in the time they have had to extend their rental, paid extension fees, are being held hostage by NEVER knowing when it will close-they share my distain...there is a reason why so many people never make it thru...this is a longer commitment than most of my relationships thru the years. And yes, the NACA RE Dept-I did get help while asking questions and trying to upload all the documentation in the ages old system...they said "don't bother-we will make the contact at the Charlotte office do it b/c they knew it was an old system"...oh and 30 days close brokers-PLEASE, dont ever try and put me in that category...I am married to a lender-so above and beyond, I have always had an inside view of what it takes to close a loan-SO...30 days is a NORMAL close conventional, 45-60days- VA & FHA...75-90days-203k, rehab and construct to perm...WAIT-all these have an actual close date that they all work hard to complete time frames on...I attended the NACA Realtor workshop over 5 years ago...No short cuts I am a fan of, this specific transcation-Bottom Line TERRIBLE

April 25, 2014 06:33 AM
Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the clip to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Show All Comments
Rainmaker
93,920

C. Thompson

Loss Mitigation Cases
Ask me a question
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the balloons to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Additional Information