Reply
Regular Contributor
RichRaven
Posts: 239
Registered: ‎08-30-2007

Re: The Official NACA mortgage thread

Any more information about NACA?

Starting Score: 721
Current Score: 799
Goal Score: 800


Take the FICO Fitness Challenge
Frequent Contributor
phumanr
Posts: 341
Registered: ‎05-29-2007

Re: The Official NACA mortgage thread

All,
 
My story is similar to Secondchance 23. I went to a workshop on July 29. I had an appointment within 3 days.  I went overboard with documents that I would anticipate that they needed. My counselor was very surprised that I had everything in order including good scores (although they say that their approval is character based), over enough savings, no lates, all documents, etc. He said that he was going to try and get me qualified fairly quickly.
 
Now, after close to 2 months..nothing! I have exchanged email, after email, and my counselor continues to give me the run around and requesting documents that I have sent repeatedly. I had faith in this program, that they are really committed to having the best mortgage out there, but I am not convinced that they do what they say they are going to do. I am very disappointed with Naca and will  have to go FHA.
 
With approvals, it should not take 2 months...it is either yes or no.
 
Phumanr
Regular Contributor
teton
Posts: 242
Registered: ‎07-23-2008

Re: The Official NACA mortgage thread

Is anyone working with the Chicago office? I'm wondering if some offices are swamped with applicants?
Regular Contributor
RichRaven
Posts: 239
Registered: ‎08-30-2007

Re: The Official NACA mortgage thread

Please this is very important...Does anyone have any success stories with NACA?

Starting Score: 721
Current Score: 799
Goal Score: 800


Take the FICO Fitness Challenge
Regular Contributor
RichRaven
Posts: 239
Registered: ‎08-30-2007

Re: The Official NACA mortgage thread

bump

Starting Score: 721
Current Score: 799
Goal Score: 800


Take the FICO Fitness Challenge
New Contributor
SecondChance23
Posts: 54
Registered: ‎06-03-2008

Re: The Official NACA mortgage thread

Check out this link http://activerain.com/blogsview/238151/NACA-Neighborhood-Assistance-Corporation. Its very informative; there are people who've actually closed a loan with them AND an ex-employee posts regularly as well.
07/28/2008: EQ: 588, TU: 586, EX: 583
08/21/2008: EQ: 654, TU: 664, EX: 652
02/10/2009: EQ: 687, TU: ?, EX: 780
Established Member
receivingthepromise
Posts: 18
Registered: ‎07-23-2008

Re: The Official NACA mortgage thread

I am trying NACA also. I went to the workshop in Oakland, CA on 9/6/2008. My intake appointment was on 9/19/2008. When I went to the meeting I took all the information that they asked for on page 30 of the workbook. When my credit report was pulled it only brung up baddies from last 24 mths (all paid). After my counsoler in put all my information he was ready to submit me for approval that day. Only needed employment and rental verification back. The stopper here was me I forgot to bring my paperwork from 401k which show I have MRF. (For my $100,000 loan Mrf is $3500 becuase I have no payment shock I dont have to show 3 mths savings.) I emailed the 401k information to counsoler Friday evening and recieved a comformation email from him Sunday afternoon(:smileyhappy: Good Job) I did not hear from him today (9/22) so I will give him a call tomorrow.
At my intake meeting I let my counsoler know that Iike to recieve timely feedback and that I am not above calling like a crazed staulker if I feel he is ignoring me.
Here is a link that may be helpful to those trying to find out how the NACA program works and what to expect.
 
Blessed and Highly Favored
Valued Member
bunny44
Posts: 47
Registered: ‎10-02-2007

Re: The Official NACA mortgage thread

Receiving,
 
I am too working with the Oakland Office.  I went to my workshop on 9/13, and I still haven't received my ID number.  I am glad to hear that they seem to be working pretty fast at that office!  Did they tell you already how much you can get approved for?
 
Bunny
Regular Contributor
Tryin2rebuild08
Posts: 146
Registered: ‎06-18-2008

Re: The Official NACA mortgage thread

I went to the workshop in early July. I think it's a great program but I haven't met with a counselor as yet because I got discouraged. I really think it's too much paper work and slow workers. I had to send at least 5 emails before I got a response.
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
Established Member
receivingthepromise
Posts: 18
Registered: ‎07-23-2008

Re: The Official NACA mortgage thread

[ Edited ]
(Bunny) I already knew how much I wanted to be approved $100000 so I told him. If you received the email that said for Home Save to sign up you can use that link to get your ID. That's what I did. Once you schedule an appointment online call the office to confirm website has different time from what the office actually uses.
 
(Trying) The paperwork they ask for is the same that all mortgage lenders ask for.


Message Edited by receivingthepromise on 09-23-2008 08:14 PM

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+