I had a co-worker here in GA who obtained her home with NACA. She had a BK due to foreclosure in 2004/2005. I believe her process with NACA was over 3-6 months and she was financed for a 190K home. She was able to use combo of 401K and builder incentives for downpayment, I think. She had a great relationship with her counselor who she said always seemed to be on the ball and timely with confirmation of receipt for documents she had to fax in.
However, she referred another co-worker and gave her the counselor's contact info. Well, the counselor said she didn't have the availability to take another applicant and passed the referral to a different counselor. This person was extremely slow to respond to emails and ultimately the referred person became discouraged.
Nonetheless, the NACA placed homeowner has nothing but great things to say about NACA and she highly recommends them to anyone even remotely interested in homeownership.
I have heard experiences with NACA through their GA office. I am not impressed at all. Took a day off to attend my first counselling session. Got there and told by secretary that appointment was cancelled coz counsellor was on a NACA conference call. They could have at least called me. strike 1. Another appointment set month later. Get there and wait hr and a half. My turn comes to see counsellor- she askes me to reschedule since her computer is not working. I insist that i cant reschedule since I already have been rescheduled before. She tinkers with her PC until she got it working. Sat and had discussion with counsellor. She tells me she will send me a task list. I wait for it. 1 week , 2 weeks then I call. then call again. Got the task list after 3rd email to counsellor. Is start working on task list. Then am informed that I will have a different counsellor since the one I had was not with NACA anymore. New counsellor emails me tells me i need to contact her. I call her and leave messages. No call backs. I email, - no replies. OK. I gave up . I am not sure if it was just my luck but think NACA is proffesionally challenged. I am now fixing my credit and will explore oher avenues.
ixo - your experience sound just like the second co-worker who tried NACA at the recommendation of the first co-worker. Although the first person was successful in closing on her home and really has nothing but good things to say, I am undecided which path I may choose when that time comes. Best wishes to you.
How long will it take to actually get a mortgage with N.A.C.A. if your credit is good and if you are approved how long will it last? I have a year left on my lease and I plan on starting the process in January and hope to finish by November but if I'm approved in June can I wait 5 months?
New to the world of credit and you are my guide...My success is yours....You are my teachers.
You might want to restate what your questions are or start a new thread. You've gotten quite a bit of discussion from your original post, and now it's dwindled off. It's entirely possible (pretty likely IMHO) that people have simply said all that they have to say, and daily "bumping" of the thread is pointless.
I know there are people here that have had experiences with NACA and I know this thread may help some people that may have thought they couldn't buy a home be more educated about the process and routes to go. I have faith in this forum and the people here.....soooooo BUMP.
Starting Score: 721 Current Score: 799 Goal Score: 800
Don't you think people would have responded by now if they had something to say? Are you hoping to guilt/annoy more people into posting? It just doesn't make sense to me. Oh well. To each his own, I guess.
I come here everyday to see if someone/anyone has added more on their NACA experience.
Just an update about on where I am. I my file was sent to UW on 9/24 so I can become NACA approved. My counselor went to Boston this week but advised me to call and check on my status. I will be calling on Wednesday. Hopefully I will be approved soon. I am ready to start looking.