Mortgage Loans

[teton]

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In terms of volunteering (as part of the membership), what did you do (if I may ask)? How much of your time did it take? I'm really concerned about making an agreement I might not be able to adhere to, time-wise -- especially if it meant traveling to Jacksonville!!

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I'm curious about this, too. I don't live four hours from their office, but I'm wondering how time consuming this commitment might be and how flexible they are with when you can put in this time. I read through their web site and got the impression that initiating an email campaign to contact legislators about a housing related issue might be a type of activity they are looking for. It also says you can assist others in the NACA process, so that is something you could possibly do in your own local area instead of traveling to their office. I wonder if referring someone to the program would count as an activity? I also read that when you attend the workshop, you will hear testimonials from people who have bought homes with NACA. Maybe giving one of these testimonials would be considered an activity?

I guess this is an example of the type of questions that would be asked at the workshop that we have to attend as the first step in their process.

[Miss1975]

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teton wrote:

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In terms of volunteering (as part of the membership), what did you do (if I may ask)? How much of your time did it take? I'm really concerned about making an agreement I might not be able to adhere to, time-wise -- especially if it meant traveling to Jacksonville!!

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I'm curious about this, too. I don't live four hours from their office, but I'm wondering how time consuming this commitment might be and how flexible they are with when you can put in this time. I read through their web site and got the impression that initiating an email campaign to contact legislators about a housing related issue might be a type of activity they are looking for. It also says you can assist others in the NACA process, so that is something you could possibly do in your own local area instead of traveling to their office. I wonder if referring someone to the program would count as an activity? I also read that when you attend the workshop, you will hear testimonials from people who have bought homes with NACA. Maybe giving one of these testimonials would be considered an activity?

I guess this is an example of the type of questions that would be asked at the workshop that we have to attend as the first step in their process.

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LOL in addition to hearing some of the testimonies ( I am in Jacksonville), there was a lady that stood up and said I have been working with different couselors since 2005.  Well needless to say, the facilitator quickly changed the subject and made her sit down......LOL  And as indicated before, 3/4 of the crowd left when we were given a 15 minute break.

[poet]

What kind of time commitment were they asking for? I know they want you to volunteer (to help others in similar situations, I suppose) and that NACA grew out of a union.

[Miss1975]

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poet wrote:
What kind of time commitment were they asking for? I know they want you to volunteer (to help others in similar situations, I suppose) and that NACA grew out of a union.

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Poet to be honest with you, I didn't stay that long through the process to find out the particulars.

[Tryin2rebuild08]

Miss1965, you should have stayed and not be discouraged. I went the to workshop and enjoyed it. It was very informative. I do believe the length of time it takes for each one varies from situation to situation. Everyone has a different situation. It also depends on you, and how soon you want something and how hard you are willing to fight to get it. I asked about the length of time also, and was told that, it can take a month or years. I was given and example that one woman closed in 17 days last month. I was told it depends on how organize you are and submit all the paperwork to them. I also believe that they are truly busy and can slack at times because since I left the workshop 3 weeks ago I haven't received any calls from anyone as planned, and when I called I was told to call back, and I'm letting it slide because i'm not really serious about putting in the time and getting them all the documents they need otherwise I would have been calling every second.

[Miss1975]

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Tryin2rebuild08 wrote:

Miss1965, you should have stayed and not be discouraged. I went the to workshop and enjoyed it. It was very informative. I do believe the length of time it takes for each one varies from situation to situation. Everyone has a different situation. It also depends on you, and how soon you want something and how hard you are willing to fight to get it. I asked about the length of time also, and was told that, it can take a month or years. I was given and example that one woman closed in 17 days last month. I was told it depends on how organize you are and submit all the paperwork to them. I also believe that they are truly busy and can slack at times because since I left the workshop 3 weeks ago I haven't received any calls from anyone as planned, and when I called I was told to call back, and I'm letting it slide because i'm not really serious about putting in the time and getting them all the documents they need otherwise I would have been calling every second.

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LOL, you insist on making me 10 years older than what I am huh?  LOL

J/K

It just seemed like too much of a hassle for me so I decided to leave. 

[poet]

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Miss1975 wrote:

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poet wrote:
What kind of time commitment were they asking for? I know they want you to volunteer (to help others in similar situations, I suppose) and that NACA grew out of a union.

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Poet to be honest with you, I didn't stay that long through the process to find out the particulars.

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I'm talking about the time commitment they want for volunteering, not the time it takes to close a loan, BTW...

[SecondChance23]

I went to the workshop last week, and I have my appointment with the counselor this week. It seems like a REALLY good program. I was planning on using another first time home buyer program so I have ALL my paperwork together. I'm hoping to go in and get approved immediately...if that's possible. As far as the time commitment for the volunteer work, it can range from going on a trip to DC for 5-days to posting a listing about NACA on Craigslist...its all on you. I'll keep you posted on my appointment. After reading everyone's comments I can't think of one reason why I wouldn't be approved out the gate. I only have one negative item on my credit report, and it's a SL that's been in rehab for the last 8 months (I heard that you only have to be 6 months into a repayment plan). I have 8k in my 401k account that can be withdrawn without penalty, and I have $700 in another savings account...which will be $1,500 on the 15th of August.

If anyone has any other questions let me know and I'll ask when I go in this week.

[AvionicsEngineer]

SecondChance23, I don't believe you will be approved immediately. You have to show that you can save the mortgage payment for three months (payment shock) and your reserves for three months. Provide your bank statements and payroll statements for three months after your first appointment. Here is my history so far with NACA June 7 workshop, first appointment June 19, next appointment Aug 7. I will post a update after Thursday. 

[SecondChance23]

=( What if I already have my payment shock saved? My rent is $900, and I don't want a payment over $1,100 so that's only $600. Honestly, I'll be highly upset if they make me wait 3 months to show that I can save $600 bucks. I can save that amount from my check that drops on the 15th without any problem. I haven't been saving like I should, because I've been doing ALOT of "debt reduction" which the book said was taken into account...and can be verified by looking at my bank statements.

Is this the only reason they made you wait 3 months?