NACA

[NewbieReed]

Thanks for the info!!

Exciting!

[swtneka]

Gl with your process with naca. I have an appt towards the end of the year... please keep us informed how things go

[work_n_progress]

So have you made any progress so far?

what do you think about the program?

I just signed up for a workshop that they are having in july, and i gave myself a yeat to handle everything (based off of the reviews). I see it as a plus for me because I am re educating myself on managing my finances, so if it helps me learn to budget for the expensese of owning a home and I dont have to pay the closing costs and everything else associated with buying a house that's a win win for me.... you can also pm if you like

[justrock]

I too am going to a workshop on 7/20  in NYC.  I am also enrolled in a first time home buyers club in my county of residence.  I need all the help I can get.

[R2P2home]

Update on NACA-my first appt was in May with counselor-he is great!!! We went through my credit issues which I had a few ,to say the least,he gave me a task list which took me about 2 months to get everything situated as far as paying off collections and writing letters of explaination for old bad debt and I still fax a weekly pay stub and bank statements and cancelled rent checks as I receive them and as of yesterday it looks like my file will be submitted Monday to underwriting!!!Its a great process and I believe with the right counselor and the will to want to clean up credit it's absolutely the way to go-I will only need 2,200 at closing and that's for insurance a year up front and I am being told as of now I am approved for 155,000 so I am looking at a property for 139,000 I am thinking I would offer 140,000 with 12,000 back at close because property has been sitting since Jan take the loan out for 155,000 use 12,000 to buy down interest rate to keep payment in low 800 a month and use the 15,000 to put a pool in !!!Hopefully it goes my way and nobody snatches the property in the mean time!!!

[justrock]

Good luck to you.  Please keep us updated.   I am going to the workshop in NJ on 8/15.  Was supposed to go to NYC on 7/20 but there was a train derailment on Metro North and it would have taken me three hours each way  I have 3 baddies on my report totalling $600.  Hoping to have them taken care of before my meeting with a counsleor...  How long did you wait for your first appointment?

[R2P2home]

I had to wait almost 2 months for my first appt but I didn't mind its worth it. You want to make sure you take absolutely every piece of documentation possible with you to that first appt because that is what will make it go a lot faster!!!!If you want a list let me know I would be happy to provide you with one and I am sure your counselor would too!!!Good luck!!!

[R2P2home]

Update on NACA process-underwriters asked for a 3rd alternative line of credit because I have 3 cc but only 2 are over a year old and the 3rd is 10 months old so I just needed a phone or electric,or cable saying I have paid on time for a year -heard from my counselor today he hasn't heard anything yet but says to keep faxing pay stubs and bank statements as they come in. I hope to hear something soon !

[toppers555]

My intake is on next tue.