cancel
Showing results for 
Search instead for 
Did you mean: 

NACA Mortgage

tag
Tryin2rebuild08
Regular Contributor

Re: NACA Mortgage

Okay all. I went to the NACA workshop last Saturday. It was very informative, interesting and Legit. I believe this is the best way to go for those of us who don't have perfect credit. I am excited about their program and will be giving it a shot. I did ask about the lien. And yes they do put a lien on your home but that is just to enforce and ensure that you are living in the property. The good thing I learned about this is after a year you can refinance through any company to get out of the NACA loan, that's if you want to. You also have to have a solid work history of about two years. Fico scores are not factored into the loans since everyone will be given the same rate. They ask that some collections be paid (not all). It is  a lot of paper work to submit, but as they stated, that depends on the individual.
6/20/08 TU=553 EQ=577 EX=458
07/16/08 TU=599 EQ=621 EX= 556
8/05/08 TU=632 EQ=652 EX=598, 9/30/08 TU=632 EQ=655 EX=616
Message 21 of 27
phumanr
Frequent Contributor

Re: NACA Mortgage

This question may have been answered....I have a BK of 4 years and a foreclosure of 2.5  years...how long do you have to be out of BK and foreclosure to qualify for NACA?
 
Thanks,
Phumanr
Message 22 of 27
Anonymous
Not applicable

Re: NACA Mortgage

rates are going up so fast, don't be surprised if u get a rate over 6%, even from them.
Message 23 of 27
Anonymous
Not applicable

Re: NACA Mortgage

Where are you coming up with that? Rates have been stable for a while, varying a 1/4 point up or down from 5.5%.
Message 24 of 27
Anonymous
Not applicable

Re: NACA Mortgage

From my LO. Rates on the naca program are now 5.8%, the highest I have seen it go.
Message 25 of 27
Anonymous
Not applicable

Re: NACA Mortgage

My wife and I just attended the NACA workshop this afternoon (7/25), with our first appointment with our counselor next week. I will be putting all our stuff together and will keep you up to date with our progress. There was one previous client at the workshop with nothing but praise for the program. My wife and I are looking forward to using them as a means to get our home. Everything seems on the up and up with the company and what they say seems to be real. They appear to expect a lot from us, but, I guess we are expecting a lot from them. Thank you for bringing them to our attention, I would not have found them without this forum.
Message 26 of 27
Anonymous
Not applicable

Re: NACA Mortgage



shoopy69 wrote:
My wife and I just attended the NACA workshop this afternoon (7/25), with our first appointment with our counselor next week. I will be putting all our stuff together and will keep you up to date with our progress. There was one previous client at the workshop with nothing but praise for the program. My wife and I are looking forward to using them as a means to get our home. Everything seems on the up and up with the company and what they say seems to be real. They appear to expect a lot from us, but, I guess we are expecting a lot from them. Thank you for bringing them to our attention, I would not have found them without this forum.


I actually had an appointment (presentation) today and along with a few other prospective homeowners who eventually walked out.  I think it has a wonderful purpose and all.  But just as the facilitator stated" if you are looking to close within 30-60 days then this isn't the program for you".  Many people may have felt as I did, that if I have all of my documents turned in then there should not be a reason that I shouldn't be placed before someone who is dragging their feet.  Good luck to you as I am sure you will turn in all of the information that is requested of you within a timely manner.
Message 27 of 27
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.