The Official NACA mortgage thread

[Raiderguy8]

I am in Dayton and was able to attend a workshop that was in Cincinnati this past July.  They rarely have them in this part of the state.  I have found a place that should be willing to host a workshop in the Dayton area but they have workshops booked in Cleveland through next spring so there wont be one in this area anytime soon.  I had my first appointment in the Cleveland office about a month ago and I have had a follow up appointment which was over the telephone two weeks ago on the 1st.  I have a second phone appointment Wednesday of this week.  At that time I have been told that I should be submitted for NACA qualification.  I will have to travel to the Cleveland office a minimum of two more times.  I consider three trips to Cleveland as a small price to pay for the long term benefits associated with NACA.

[Challenger708]

Hi NACA,
What's the policy on Federal Tax debt that is in repayment?

[Anonymous]

Hello Challenger708,

If the Federal Tax debt has been in repayment successfully for at least 12 months and can be documented, you can still be considered for qualification in most cases. However, some states will not close a loan when liens or judgments are not paid in full, so you will have to consult with your counselor to determine exactly what effect the tax debt will have on your situation.

Tim Trumble

Online Operations, NACA

ttrumble@naca.com

[Anonymous]

Tim,

I'm in Indiana. Based on your response to kprepair, I'd have to attend a workshop in Chicago or Cleveland (they're the closest cities as there is not an office in Indiana). Everything can done remotely up until qualifications.

How would closing occur though? I saw on your site NACA prefers a statement be added to the offer that closing would occur at a NACA office. I don't think I can find detailed a seller that would make a 2-4 hour trip for closing or that Indiana would allow closing to happen in a different state.

[Anonymous]

Does anyone know how accurate is the anticipation approval date that is posted in the NACA membership area?  When I log into NACA it shows anticipation approval date 10.10.2016.  

I've already submitted all docs requested/requirements from my counselor already.  Also saw credit pulled from Equifax Mtg on Aug.22nd. (Assuming this is NACA).

Many thanks!

[Raiderguy8]

HarperRose,

I believe Tim is on vacation but I can provide my un-official anecdotal feedback.  When I went to my workshop in Ohio there was a gentleman from Kentucky.  He asked about whether he could work with the Cleveland office and he was told yes, he could, but that he would have to buy a house in Ohio.  I would think that Indiana would fall under the same conditions.

[Anonymous]

Thanks Raiderguy. It's nice to hear first hand experience as it seems they want people to attend the seminars to get into the details of the program. I personally don't want to spend 11-12 hrs on the road or in meetings to find out something is impossible from the beginning.

If what they told him is correct, they way they market their website is silly and seriously misleading. I can put Indianapolis in their zip code finder and it will say that area is eligible and provide the max rates for it and the surrounding 9 counties worth of cities. They even have home inspectors in the metro area registered with NACA. Neither set of info should exist for the area if you would have to buy out of state.

[Anonymous]

Hello HarperRose,

In cases where the purchase is a significant distance from a local office, it may be possible to arrange for the closing to be conducted at a location other than the NACA office. Please be aware though that this is done on a case by case basis, and it's not too early to bring the topic up with your counselor.

Tim Trumble

Online Operations, NACA

ttrumble@naca.com

[Anonymous]

Hello seitza,

Please remember that the anticipated date is not a guaranteed date and can be affected by several factors. That being said, the dates are typically pretty accurate unless the underwriters get backlogged for some reason.

Give it an extra couple of days after the target date. If you haven't heard back by then, contact NACA Member Services at 425-602-6222 for an update.

Tim Trumble

Online Operations, NACA

ttrumble@naca.com

[Anonymous]

Hello HarperRose,

Raiderguy8's statement is made based on an inaccurate assumption. If our website stated that you can buy in Indiana through our program, then you are definitely able to do so. You will likely have to work through the Chicago office after qualification since your counselor will have to be licensed for Indiana.

It is not a matter of whether or not we have an office in that state, it is whether a) NACA is licensed in that state and b) whether we have a counselor on staff who is licensed in that state.

Tim Trumble

Online Operations, NACA

ttrumble@naca.com