Credit Card Center Advertiser Disclosure†
08-17-2007 01:33 PM
Profit wrote:My Fico scores at the time of app. was TU 605, EX 607, and EQ 639. They are really not concerned with credit more that your savings and spending habits. They approved another applicant w/ a 525 Credit score, but she had saved $7K. Got $215k mortgage including rehab!I just attended the 4 hr orientation, and met w/ a counselor a few days later. Because I came to my appointment w/ all the necessary paperwork, I was able to get a decision in a few days. They are really great! They will even pay your mortgage for 6 months if you loose your job, or have any other situation that will prevent you from making your payments.They are an activist organization, so they are really fighting to end predatory lending practices and promote neighborhood stabalization. I still can't believe that I got this great deal. I encourage anyone who does not already own property, or who wants to refinance to look into them.
08-18-2007 02:25 PM
08-19-2007 06:19 PM
NSF/Membership: $50 per month for 5-10 years.
(Neighborhood Stabilization Fund)
That's $3000-$6000 in fees. Also there are occupancy restrictions, possible difficulty in getting a 2nd mortgage ever on the program, property ownership restrictions and their Participation Pledge requires you to participate in at least five activities a year.
Just like a lot of people in trouble from 2003-2005 ARM, IO ARM, etc. mortgages who didn't read the loan details completely or ask enough questions, I would make sure with NACA or any program to read everything & ask every question possible to 100% know what you are getting yourself into for the short-term and the long-term.
08-19-2007 08:57 PM
08-20-2007 08:06 AM - edited 08-20-2007 08:07 AM
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.