The Official NACA mortgage thread

[Anonymous]

what happens if you do not attend the 5 required annual events?

[momfirst]

I will be attending the Naca workshop this Saturday. I am a bit nervous because I pulled my credit report and found that my student loans that I thought were in forbearance weren't so there are a ton of lates from last year. Since then I have paid the money and the loan is now current. I have also signed up for direct debit so they will always be paid ontime.  Because of this will NACA not work with me?  Do I have to show 12 months of ontime payments?

[RachelRachel]

Momfirst,

NACA will still work with you, but they will need to see 12 months of on time payments before you get approved.  But, don't despair, NACA is a long process so go to your workshop, learn more and then be prepared at your meeting with your mortgage counselor.  I would also suggest that you write the lender for your student loans to see if there is anyway they could remove the negatives or put a note on your credit report about the miscommunication regarding forebearance or something like that.  I'm not sure how that all works so maybe a more experienced poster can chime in, but it seems like it's worth a try.

Best wishes to you!

~Rachel

[Anonymous]

Hello All,

I am new to this forum and to NACA.  My fiance and I attended the first workshop today in Atlanta.  It was very informative and I am looking forward to our first meeting with our counselor on 06/05/12.  I was hoping for an earlier date, because our wedding date is set for 06/16/12, but I wasn't expecting to be in a home by the wedding anyway.  What I am confused about, though, is the budget and credit issues that need to be addressed.  Will we need to have these things sorted out before we attend the 1-on-1?  If we do begin to work on specific items, will we still have to wait 2-3 months before our file is sent to underwriting?  I don't want this process to extend beyond 9 months.  I would love to start off as newlyweds in our new home rather than our 2 bedroom apartment (yuck!).  What should I expect at our first 1-on-1?

[Anonymous]

Hello momfirst,

NACA will still be able to work with you, espcially since you can eplain wha thappened (as you did here) and have caught up the student loan payments.  As long as there are no other issues, you should not have to create a new twelve month history.

[Anonymous]

Hello msrarebeauty,

You do not have to have the budget and credit issues cleared up before the one-on-one appointment, but the longer it takes to do that, the longer it will take to get you qualified.

Listen to your counselor and follow his/her instructions completely.  Stay on top of your file and be diligent.  Those are the things that will get you through the process as quickly as possible.

[Anonymous]

Ok guys, we have received our Member ID, but no password!  I'm having trouble logging in without a password.  Even when I request to have one sent to me, I get a blank space where the password should be.  I read in another member's post that there is a 24-hour waiting period before I will be able to access my file after I have received my Member ID?  Is this true and did anyone else experience initial password trouble?

[Anonymous]

msrarebeauty they will email you your password shortly so I wouldn't worry about it. A word of advice as well....take notes from your first meeting with the counselor which helps and saves time if you have questions later on because as all of us closers know NACA counselors are sloooow to return calls...LOL.

[Tanya007]

So happy to see recent posts on here! I have my first intake appt set for Feb 22nd. Is anyone currently going through the process through the Miami office? Would like to know how their office runs. Seems like some offices are more organized than others. Good luck and much patience to everyone! Looking forward to reading success stories and hopefully sharing mine soon. God bless <3

[NeedsHelp23]

Has anyone on this forum purchased and closed on new construction, using NACA.  I see that purchasing new construction is
a bit different than purchasing a resale house.   My husband and I will be signing a contract for a new home today.  Can you give me some

insight on how your purchase went?  From signing of contract to what happens after contract is signed.  How long after the contract was signed
did you meet with your MC to fill out the bank application? How long did it take to fill out the bank application? Did you have any issues once your
new home was inspected?   When should be have mortgage insurance in place?  I know that every situation is different, but I would love to have a general
idea of what to expect.  I have a feeling there is not much we have to do until the home is built, but I want to make sure I don't miss any steps.

Thank you for your help and I look forward to your responses.