NACA is the Neighborhood Assistance Corporation of America. They are an advocacy group against predatory lending with some billions of dollars available from BOA and CitiMortgage.
They aren't scoredriven but require a lot of documentation. They want to be sure homeowners can repay their loans and keep their homes.
In summary they lend 100% (no money down), 30 yr. fixed, no closing costs, and a $50.00 monthly payment in lieu of PMI. You can use your down payment to buy the rate down to under 1% depending on how much DP you have...
BK7 Filed 8/11/2009 Discharged 11/23/2009. Purchased new home 4/11/2012
Starting Score:11/16/2009 EQ 566 11/16/2009 TU 538
Interim Score: 12/27/2012 EQ 683 09/17/2012 EX (lender) 670 1/01/2013 TU 701
Current Score: 11/06/2013 EQ 708 11/06/2013 EX 702 11/16/2013 702 11/06/2013 TU 729
Goal Score: EQ 740 EX 740 TU 740
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