The Official NACA mortgage thread

[ji9]

I believe NACA is nationwide.  If the local office is far away you can get a remote counselor.  Not sure how attending the initial Homebuyer workshop would effect you as I think that is a requirement you can't get away from.   There is a form on the NACA web site, if you post your question there someone who knows for sure will respond.  Good luck.   

[Nola_Bee]

Thanks so much for your response! I appreciate it.

I spoke with a NACA representative today via the online chat on naca.com.

I was advised that I would be able to purchase in my area if I am approved. I will be attending the workshop this Saturday.

[ji9]

OK, an update. 

04/20/13 - Spouse and I attended the Hombuyer Workshop

04/23/13 - Received NACA ID # and password.

12/21/13 - Volunteered at a Homebuyer Workshop

12/26/13 - First meeting with Mortgage Counselor, did over the phone because of bad weather.

12/27/13 - Mortgage Counselor emailed first thing in AM, she had a cancelled 9am appt, put us in that slot to work on our file.

01/04/14 - Volunteered at a Homebuyer Workshop.

01/07/14 - Follow Up appointment, in person at the NACA office.  Almost had everything done. 

01/08/14 - Follow Up appointment made just for her to work on our file, we didn't need to be there.

01/09/14 - Told we were submitted to underwriting.  Web file still says in counseling.

01/09/14 - Sumbitted Real Estate Agent contact info to Mortgage Counselor so she can email agent the webinar and get her registered with NACA.  

01/09/14- MC emailed instruction for Real Estate agent to register so she could be invited to the webinar at the end of the month.

01/10/14 - MC emailed asked us to send in a LOX for a mismatched SS # on my credit report and a copy of my SS Card., done.

01/23/14- Finally able to make contact with our counselor after her return from the national convention.  She asked if we had taken care of the couple things they requested.  Told her I only knew of the SS # issue.  She told me they had also requested an additional trade line and it needed to be a Utility.  This is a problem as we had already sent every possible trade line we could to make the 6 total and we had needed 24 months or open lines because of a foreclosure and BK.  After lots of work last night I was able to get a print out from the cell phone company that shows our account history and may work.  I also send a couple other things I could come up with such as Y membership and storage unit payments, but they were very specific it needed to be a utility.  If the Verizon Wireless doesn't work not sure where we go from there.  

But the biggest bummer for me was logging into the NACA system and our file not longer even says we are in mortgage counseling it has gone back to saying we took the homebuyer class!!!   Our counselor has been great and I'm not giving up but we are certainly at a low point right now and not sure how it's going to work out.   

[Nola_Bee]

Hoping for the best for you ji9. Keep the thread posted.

I received a call from NACA advising that the workshop on tomorrow was cancelled due to weather reasons. I will be attending the workshop in February.

[ji9]

Update: 

OK, an update. 

04/20/13 - Attended Hombuyer Workshop

04/23/13 - Received NACA ID # and password.

12/21/13 - Volunteered at a Homebuyer Workshop

12/26/13 - First meeting with Mortgage Counselor, did over the phone because of bad weather.

12/27/13 - Mortgage Counselor emailed first thing in AM, she had a cancelled 9am appt, put us in that slot to work on our file.

01/04/14 - Volunteered at a Homebuyer Workshop.

01/07/14 - Follow Up appointment, in person at the NACA office.  Almost had everything done. 

01/08/14 - Follow Up appointment made just for her to work on our file, we didn't need to be there.

01/09/14 - Told we were submitted to underwriting.  Web file still says in counseling.

01/09/14 - Sumbitted Real Estate Agent contact info to Mortgage Counselor so she can email agent the webinar and get her registered with NACA.  

01/09/14- MC emailed instruction for Real Estate agent to register so she could be invited to the webinar at the end of the month.

01/10/14 - MC emailed asked us to send in a LOX for a mismatched SS # on my credit report and a copy of my SS Card., done.

01/23/14 - Asked to submit additional trade line.  Submitted the best I could come up as we didn't have 12 straights months of a utility because of moving. 

0131/14 - RECEIVED AN EMAIL FROM COUNSELOR SAYING WE ARE APPROVED.  Hoping so much that is actually the case, web file does not reflect anything yet. 

I'm very great ful we are approved (hopefully) but do think I'm dreading the homebuying process and everything that will come along with it, not even just the NACA stuff, everything.  Been through this before and it's certainly not fun.  Because of our age (me 44, DH 56) we really need to buy something as least expensive as possible to try and pay it off within 15 years and not be mortgage poor in the process.  That lesson we have learned.  All that means we will have very little to pick from.  Hopefully all will go well.   We went into our first NACA counseling appointment pretty much "NACA ready" having done a ton of research and having every possible document they could ask for and it took just over a month.  I think in total I've faxed or emailed over 300 pieces of paper to them.  I've been very proactive but also tried  hard to not be a pest.  When our counselor didn't get back to us right away or responded with a short answer I didn't get upset and just kept pushing forward.  I plan to continue volunteering and will do everything I can to help our counselor want to help us.  Will keep updating as things progress.  

[ji9]

OK, already need help!  We received an email from NACA saying we are approved!  Anyone on here who has been through the process can you please tell me exactly what you or your realtor did to get the realtor approved?  Ours seems to be having a hard time getting that accomplished and getting in invite to the webinar.    Thank you.   

[Babyarho2010]

CONGRATULATIONS! Nice to hear of someone actually being approved.

I started the NACA "process" in late August, and unfortunately this has not been as quick as I would've hoped. The repeated lost documents, non-responsive counselor, etc., just frustrating! I digress..

Did you have a payment shock requirement? My counselor seems to question if I'm actually "saving" or not, given the fact that my checking account balance doesn't magically increase month after month..

[ji9]

We did not have any payment shock requirement.  I'm sure that helped to move our file along.  From what I have heard and read they are very serious about the payment shock and if it's been a requirement they wouldn't send the file to qualification if it wasnt' completed.  

[ji9]

Could really use some help from someone who has purchased through NACA.  Was your real estate agent required to take a class or webinar through NACA or was it just a suggestion from NACA that they attend?  Thank you.   

[ji9]

When we attended the Purchase Workshop they gave us a fold of papers that should have had pretty much what the presentation covered.  I think our folder was not complete since it really only had things about purchasing a BOA owned home and doing a rehab (neither of which we are doing).  There was also a sheet in it that says "NACA Purchase to Close Timeline", it looks like there should have been more than one page with this.  Does anyone have that whole thing and would you be willing to share with me???