The Official NACA mortgage thread

[Anonymous]

No, they don't freeze your credit reports.  They just pull them and will let you know what you need to do to clean them up.

As for the volunteer activities, at my workshop I asked the question and the presenter said it's no big deal if you can't do it - they're not going to take your house away. 

I've been uploading my documents, but it doesn't look like they all have gone through.  I've got my 1st intake meeting later this afternoon and plan to bring everything with me.  I've got everything in a 3-ring binder, separated by item - bank statements, pay checks, taxes, etc.  I've paid the participation fee and the credit report fees on line, so that's all set.

I'll update tonight with what happens.

[Anonymous]

Morning Successful1,

No! NACA is not into the Big Brother thing!  They want you to be responsible that's all.  There are no credit freezes or they don't call creditors.  They are looking at your history in order to tell your future.  Only upload what is necessary 3 months of Bank Statements, Check stubs for you and your wife, all credit card bills and rent receipts i.e., money order recepts, cancelled checks.   NACA does not accept handwritten reciepts from a receipt booklet.  Please don't hand NACA your zip drive.  They have a great system that uploads everything you email and fax into your personal account.  A tip when fax stuff, please group eveything and fax for instance pay stubs and then fax bank receipts, then rental check stubs or money order receipts eetc.  That way it very easy for the counselor to find eveything as they page thru your folder.  As far as voulunteering this can be a great thing.  If you are in the offices helping to prepare for their workshops or answering phones for a few hours you can  talk to counselors and they get to know you as a person.  They will take time to look at your file and give you suggestions or be an advocate for you whether it is to push you thru underwriting or help get the closing date to accomidate you.  If you read thru this site it is not mandatory.  But, it's just way of giving back.  Go into your first appointment with an open mind.  Don't get fixated on a date, make sure you make your next apptointmnet before you leave and make sure you continue to upload all new bank statements check stubs and rent receipts. Oh Yeah! eveything that you paid off please type out a 2-3 line explaination for each trade line even though you paid them off.  List the creditor, how you got into trouble with them, how and when you paid them off and make sure you add you have learned fron=m this experience.  Good luck & Please Keep the thread posted!

[Anonymous]

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@Anonymous wrote:

No, they don't freeze your credit reports.  They just pull them and will let you know what you need to do to clean them up.

As for the volunteer activities, at my workshop I asked the question and the presenter said it's no big deal if you can't do it - they're not going to take your house away. 

I've been uploading my documents, but it doesn't look like they all have gone through.  I've got my 1st intake meeting later this afternoon and plan to bring everything with me.  I've got everything in a 3-ring binder, separated by item - bank statements, pay checks, taxes, etc.  I've paid the participation fee and the credit report fees on line, so that's all set.

I'll update tonight with what happens.

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It is not the best of websites in terms of keeping you informed of what you have done, what you need to do, or of what you have sent. I uploaded another 3-6 documents yesterday in preparation of my meeting tomorrow, none of them show. This is the same problem I had last time but after the counselor told me that, in fact, the items were actually there at my first meeting, I stopped worrying about it. I have about 20 suggestions I have sent to the webmasters but we will see what, if any, changes will come from those.

I am eagerly awaiting my meeting tomorrow hoping that an early morning meeting will net much better results than the first meeting. W2's, paystubs, bank statements, investment statements (these are depressing), 1040 have all been uploaded so I am hoping for positive news, waiting another three months would be getting close to our deadline on making a decision on re-signing our lease. I got a 6% raise retroactive to October that was not in effect when we had our first meeting so that should help our debt-to-income ratio some collections and charge-offs have been taken care of, so we will see. I will give an update in the thread later this week.

[Anonymous]

So I lied...I just got home from my follow-up...well the 30-50 pages of documents I uploaded did NOT make it to their system. So forget my last comment about ignoring the website if it doesn't show that it received documents. I was frustrated to say the least after having spent a decent amount of time uploading everything. From now on I will spam the uploads until they actually go through. No wireless in the office and they wouldn't let me use any computer to grab the files (understandable) since they are readily available from my .mac site. I had half the documents on me, W2's, most recent paystubs (even though I submitted those as well) the other half I never had any intentions of printing out and wasting that much paper. Since it looked like our counselor printed out everything we did anyway, I think going forward I will just have a copy for them to have. But what I really want is for the stupid website to act properly. If it isn't a php error it is a false positive like "we received your documents" just to find out that, "no, no you didn't".

We are in a holding pattern until we have the $6000 saved and the remainder of the documents get uploaded. We are slightly over half way there on the savings at $3141, part of me wishes our $1400 we send in extra payments towards paying down and paying off debt counted towards that $6000 but she said that since it wasn't on our task list that it wasn't being taken into account. Oh well...let me get to sending in the same documents again and again and again...

[Anonymous]

Trucie,

Rule #1 with NACA any thing you up load bring the hard copy with you!  I have a folder with pockets, labels and I keep a copy of every fax confirmation cover letter. My folder is seperated by bank statements, check stubs, credit card statements etc. I believe that your documents are there. Sometimes I think that system gets a little overwhelmed and like before on the next visit they will have them in your file.  Don't forget if you get a Income tax return throw some of that in your savings.  Did you make your next appointment?  Rule #2 make your next appointment before you get out of your seat.  Be patient and go thru.  Remember a dream of owning a house is nice but, the reality of owning one is better.

[Anonymous]

Our tax return will be one-hundred dollars so I will stick with our $650/month savings plan OR bump the savings rate to $1000 and cut the debt payments to $1000 over minimums. While it may be of no consequence to anyone else I am certainly not about to go against my belief that maybe their website should, I don't know, work. It is not overwhelmed, were that the case I should get some form of 500 error, instead their system tells me everything has uploaded ok, a site where a .PDF is invalid but a .pdf is ok...they need some serious back-end help (I am more than willing if someone from naca is out there, it could be my participation for the year :-) ) My wife and I make a conscious effort to choose electronic statements from all of our creditors, we call and asked to be removed from any direct mailing lists to reduce waste, it is certainly not too much to ask that I not need duplicative documents especially if there is no intention of sending the account to be qualified for months down the road. 

These are not intentional road blocks to see if you are patient and willing this is poor design and bad business processes, suggesting otherwise seems fallacious. 

[Anonymous]

Has anyone worked with the Dallas offices? Im wondering if their communication is better...I can't stand people not calling me back! I'm just wondering how frustrated I'm about to become going through this process. I think it is a great program but Im impatient, so I need to prepare myself upfront.

[Anonymous]

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@Anonymous wrote:
Has anyone worked with the Dallas offices? Im wondering if their communication is better...I can't stand people not calling me back! I'm just wondering how frustrated I'm about to become going through this process. I think it is a great program but Im impatient, so I need to prepare myself upfront.

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I have not worked with that office at all but I would imagine the workload for all of the offices is insane. My counselor told me upfront that e-mail was about the only method of getting a hold of her. Someone called her today on her direct line and she politely told them that she was currently with a client (me) and that she would "look it up" whenever she had time in the day. I would imagine that happens often and "time in the day" is probably around lunch time (if then) or early the next day.

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 We finally got our 72 pages of taxes and bank statements faxed. Unlike the upload document method this worked each time and gives an accurate count of pages that we sent. I think this might be my method of delivery from now on, albeit begrudgingly. I will probably sign-up for something akin to efax to keep my end paperless, but I will need to research that.

 

[Anonymous]

I am working with the Columbia SC NACA office. I am about to submit my 90 days of bank statements and 1 month of paystubs. (I previously submitted everything last year and it took me some time to pay off some things). My main concern now is that I was reading that NACA puts a lien on your home in order to make sure owners are occupying their homes. I emailed my NACA office and was told that NACA only places a lien on your property if you are abusing the program.  Does anyone who has actually closed with NACA have any input? Thanks

[Anonymous]

Thanks for the info and advice Gigi5. I was just trying to be creatively thourough so there would no issues causing delays. I do see how too much might cause a delay as well. Well at least I'll have more than they'll need even if they don't ask. I'll bring my laptop and use efax in case they ask to fax something.

I was reading the below linked blog from an actual agent who worked with NACA. She claims people who have their stuff together get through really fast. Youcan make an appointment right at the workshop and in some cases get same day approval.

http://activerain.com/blogsview/239780/NACA-Neighborhood-Assistance-Corporation-of-America-Part-Two-What-I-have-learned-from-MY-EXPERIENCE

We go this Saturday so we'll post some good news hopefully.

Thanks again!