Reminder: BeginningTuesday, April 16th, all NACA files submitted for Qualification or Credit Access require a copy of your FILED 2018 IRS form 1040. Form 4868 (Extension) will not be sufficient. NACA files without the filed 1040 form cannot progress any further.
The following rules have always been posted near the top of the Forums page on the forum website at http://forums.naca.com, just above the links to the five forum categories:
Welcome to the NACA Forums! Please keep in mind that this is a public forum. Any derogatory, inflammatory or questionable content will be removed by administrators. Also, please DO NOT post any personal information, such as passwords, NACA ID numbers, or Social Security numbers; NACA Staff will never require this information on the Forums.
Disregard for the rules of the Forum and abuses of the Forum and other social media in general is not tolerated. Such activity hinders the effectiveness of the NACA social media efforts as tools for asking questions, sharing information and for those who are seeking help with problems in either the Home Save or Purchase programs. To prevent such abuses, the following rules apply for this Forum and all NACA social media:
F(orum) comes before E(mail):
Maybe not in the alphabet, but here in the forum, F comes before E. In other words, please post your question in the Forum rather than circumvent the system and send an Email to an address you happen to find in the forum. The forum exists for several purposes, not the least of which is the sharing of information that may be beneficial to many of our members.
Most of the questions we receive are more generic in nature than most people think. By posting a question in the Forum first, it can be most likely answered here in the Forum unless it involves specific information in your file. By handling the question or problem here whenever possible, other members experiencing a similar problem could get the answer and help they need more quickly and without making a single additional keystroke.
If responding to your post does require specific information, you will be advised on the best means of contact with us so any personal information can be communicated securely and confidentially.
The Forum Does Not Replace NACA Services:
The NACA Forum or other NACA social media are in no way a substitute for NACA Counseling and Advocacy services whether in the Home Save or Purchase Programs, and information found here should not be considered a replacement for communicating with a NACA counselor, Member Services rep or any other NACA representative. While much of the information here is general in nature and applicable to most situations, specific questions regarding your file cannot be addressed in this or any other public forum for privacy reasons. Additionally, every file has unique factors and issues of its own. Therefore, you should always attempt to communicate your questions and concerns with your Mortgage Consultant in the Purchase Program and with a Counselor, Member Services or other Member Assistance Program (MAP) representative. Our Member Services Department can be reached at 425-602-6222 from 8:30am to 5:30 pm Eastern Time Monday through Friday.
Keep it Civil:
Another serious issue is the tone used in some messages. We eagerly invite anyone who is having what they perceive to be any sort of problem with the NACA process or on line system to use the NACA Forum and social media channels as a means of reaching out to us with those concerns so we can help solve them in whatever way we can. However, please remember to compose your message in the same manner in which you would like to receive the response. As noted above, “derogatory, inflammatory or questionable content” has always been grounds for posts to simply be deleted without response, and will continue to be so. Deletion of any and all messages from any individual or group of people is at the sole discretion of the Forum administrators. This includes sarcasm as well as insulting and accusatory statements. While we are in fact eager to help with any problems that may occur, if you can’t write without being cynical, you may want to hold off a bit until you can be more rational in expressing your concerns.
No Personal Information:
While this one should be common sense, it is surprising how many people will post their name, NACA ID number and even their telephone number in a forum post or even on Facebook. Please remember that what you write here can be read by anyone on the internet. This is not a membership-restricted site, so please do not post any information about yourself here that you would not announce over a microphone to a crowd of twenty thousand people. Again, that personal information starts with and includes your NACA ID number. Never post it or any other personal information in a public forum, here or anywhere else on the web.
Oh, By the Way, Who Am I Talking To?
Under other circumstances, this would actually be funny. We far too commonly receive emails from members who go to substantial effort to make sure they have provided a wonderfully detailed explanation of their problem or question to insure we have all the information necessary to address their concerns… Then forget to include their NACA ID number, leaving us in the dark or doing detective work to find out which file we are dealing with.
It’s really a simple, common sense rule. NEVER post your ID in a public place, but ALWAYS include it, every time, in private communications such as an email or the Live Chat system available through the NACA website.
One Way or Another:
While we realize you intend to be thorough by doing so, posting the same message to the Forum, our Facebook page, and emailing it to a Forum administrator is actually counter-productive. Most likely, all three messages will go to the same person, which means answering the same question for the same person three separate times. This redundancy only slows down our response time to you and everyone else we are trying to help. So please limit yourself to one method when communicating with us.
Once is Enough:
Likewise, posting the same message in multiple threads in the Forum will have the same effect as posting through several different media.
Each still has to be addressed and responded to separately, which only slows down our response time and can confuse members who may then falsely think that they have read the entire thread previously and possibly miss out on some important information that could have a bearing on their own file.
Similarly, multiple messages each day with minor or random questions bog things down too. We want to answer those questions for you, but in such a circumstance, please send them all in one daily message if possible.
By posting in this Forum, you certify that you have read and agree to abide by these rules. Failure to comply with these rules will result in the deletion of offending posts and the writer potentially being banned from this Forum and other NACA social media.
As you can see, these are really just common sense rules, largely based on common courtesy. Abiding by these guidelines will help the NACA staff help you in whatever means possible and encourage a positive, free flow of information through this Forum, which is its most fundamental purpose.
Thanks!
FOR IMMEDIATE RELEASE
April 8, 2019
CONTACT:
Tim Trumble – Media Coordinator; Cell: 617-947-2632; ttrumble@naca.com
Bruce Marks – NACA CEO; Cell: 617-835-4477; bmarks@naca.com
| WHAT: | NACA Press conference to address bank lending and preferential access to Public Congressional Hearing |
| WHERE: | House Financial Services Hearing Room Rayburn HOB 2128 |
| WHEN: | 8:30 a.m. prior to start of public hearing at House Financial Services Committee. |
| WHO: | Hundreds of NACA homebuyers & homeowners |
Hundreds of Homeowners and Homebuyers Impacted by Financial Crisis to Attend Congressional Hearing with Mega Bank CEOs
Low- and moderate-income people impacted by the lack of access to credit need to be participants at this important hearing
(WASHINGTON, DC – April 8, 2019) – On Wednesday April 10th at 8:30 a.m. in front of the House Financial Services Committee Hearing room at 2128 Rayburn, NACA will hold a press conference in anticipation of testimony by the mega bank CEOs. NACA is bringing hundreds of homeowners and homebuyers to address the lack of lending to low- and moderate-income borrowers since the financial crisis. This hearing must hold the mega banks accountable and force them to detail their lending programs. This is particularly important given that lending to minority borrowers is at an all-time low after the mega banks stole a disproportionate amount of their equity without incurring any personal accountability.
Those impacted by the financial crisis need to have a say at this important hearing and to differentiate between the actions taken by these mega banks. For example, the NACA partnership with Bank of
America has demonstrated a successful model that can be done on a large scale. Bank of America has committed $10 Billion to NACA’s Best in America Mortgage. This mortgage requires no down-payment, no closing costs, no fees at a below market fixed rate. Additionally, it is underwritten using character-based criteria not the traditional credit score, debt ratios and down-payment. Bank of America is the only major financial institution that puts a significant amount of its own funds at-risk in portfolio mortgages when lending to low- and moderate-income borrowers. This stands in stark contrast to Wells Fargo who only lends to low- and moderate-income borrowers using government programs while reserving portfolio lending to high wealth borrowers. Bank of America’s partnership with NACA has paid dividends with 85% of the homeowners being minority, 70% with incomes less than 80% of the median for the area they purchase, and over 50% with a credit score less than 650. The results are extraordinary with one of the lowest foreclosure rates in the country at 0.0021%. This full documentation mortgage, where everyone receives the same fixed rate, shows that lending to working people with a fixed affordable payment creates long-term financial stability and wealth.
NACA has sent letters to every member of the House Financial Services Committee to allow fair access and not paid access to this important public hearing (click here for letter to Congress members). We hope that the anti-democratic scheme which involves paid line-sitters holding places for financial executives will end at this important public hearing taking place on April 10. Bruce Marks, NACA’s CEO and founder states “The NACA-Bank of America lending partnership should provide the foundation for lending by other financial intuitions. The no down-payment mortgage is a foundation of lending through VA mortgages which was instrumental in building white suburbs after WWII (i.e. minority borrowers could not access it). The proof is the excellent performance of no down-payment mortgages even during the mortgage crisis. This hearing needs to have all voices participate and provide solutions that can be done on a large scale with the lending institutions taking financial responsibility to lend on affordable terms.”
About NACA (www.naca.com):
The Neighborhood Assistance Corporation of America (NACA) is a non-profit organization dedicated to economic justice through home ownership and community action. Founded by economic advocate Bruce Marks over thirty years ago, NACA is the largest HUD certified counseling agency with more than two million members nationwide. Through its Best in America Mortgage and Home-Save programs, NACA has helped many thousands of homeowners modify their unaffordable mortgage and low-to-moderate income homebuyers obtain a mortgage with no down-payment, no closing costs at a below-market fixed rate. www.naca.com. Event flyer. #AchieveTheDreamNACA.
*****MEDIA ADVISORY *****
March 6, 2019
For More Information:
Tim Trumble, Media Coordinator, 617-947-2632, ttrumble@naca.com
Bruce Marks, NACA CEO, 617-835-4477, bmarks@naca.comHOUSTONIANS’ LIVES CHANGED BY NACA’S BEST IN AMERICA MORTGAGE PROGRAM
Houstonians have had more than their share of housing troubles over the past decade. The Great Recession and the mortgage crisis, Hurricane Harvey and an influx of new residents have combined to create a tight housing market. Most severely affected are low to moderate income homebuyers. Tight lending requirements and large down payments have made this a housing crisis.
NACA is the one organization that has broken through these barriers to make home ownership possible for working people. NACA, with its fifty offices nationwide including Houston, Dallas and San Antonio, has made affordable homeownership a reality for thousands of primarily low-to-moderate income people with its Best in America Mortgage: no down payment, no closing costs, no PMI and without the consideration of one’s credit score. Everyone receives the same below-market interest rate as noted by Forbes Magazine in their comparison of the best low down payment mortgages: “There is one exception, NACA, that charges the same rate regardless of the credit score”.
NACA, which is the largest non-profit HUD certified organization, will be conducting a massive homeownership event from Thursday March 21st through Sunday March 24th at the Greenspoint Mall for thousands of homebuyers (click here for event flyer). All participants will receive comprehensive counseling and access to NACA’s Best in America mortgage, with Bank of America committing $10 Billion to this one extraordinary mortgage product (click here for CNBC story).
The program is the creation of NACA Founder and CEO Bruce Marks, who has been at the forefront of the fight for economic justice through affordable homeownership since starting NACA more than thirty years ago. “NACA has made the dream of affordable homeownership a reality for more than 60,000 families on the best mortgage terms possible, “states Bruce Marks. Marks continues, “As good as the program sounds, it is even better. Homebuyers can reduce their fixed interest rate to almost zero percent, purchase and renovate property, buy a multi-family, new construction or existing home. NACA is one of the few bright lights in the housing market. By seeing the examples below of people who thought owning a home was the impossible dream before NACA, one can understand why I have the best job in America.”
NACA HOMEOWNERS:
Jose Amezcua is the sole breadwinner for his family of five and has often worked two jobs to make ends meet. Having never been able to save enough money for a down payment, he believed like everyone in his family before him that he could never own a home. That outlook changed when he heard about NACA’s program featuring no down payment and no closing costs.
Amezcua now owns a 1,750 square-foot three-bedroom, two bathroom Pasadena brick home with a fireplace, fenced-in back yard, 2 car garage and other features. The incredible 0.125% fixed interest rate gives him a very affordable monthly payment of just under $1,000 that includes taxes and insurance and makes him the first person in his family to own his own home.
Maria Anaya’s income is less than half the median amount for the Houston area. She was another who, like many working people, believed they would never be able to buy a home, especially after a divorce left her and her daughter on their own. She declared, “I’m a single parent, self-employed and never thought I would be a homeowner.”
After saving for three years to take advantage of NACA’s interest rate buy down program, she purchased her northeast Houston home, also with an amazing 0.125% fixed interest rate. She also now is a homeowner with a payment $350 per month less than she was paying in rent.
Chemmis Porter had grown tired of moving. They had relocated to Houston from Chicago, where they had moved to from New Orleans as refugees in the aftermath of Hurricane Katrina. “I knew nothing about how to own my own home. I was tired of renting and having issues with my upstairs neighbors and the noise over my head. I heard about the NACA program and came to a workshop. NACA educated me on how to eliminate debt in order to become a homeowner. I followed the instructions and I am proud to say that I was able to get a home for my family.”
Their 3.625% fixed rate loan through the NACA program helped them obtain a home in an area they liked that was also convenient to the Katy Freeway. Three bedrooms and two-and-a-half baths will work well for their growing family, and the fenced-in yard will provide a safe place for their children to play.
These Houston homeowners and hundreds more have achieved the American Dream of homeownership thanks to the NACA program. For example:
- Madeline Goshay came to NACA as a “boomerang buyer”, someone who had lost their previous home to foreclosure. NACA helped her return to home ownership with a 3.625% fixed rate.
- Davian Smith had set for himself a goal to become a homeowner before the age of 30. In spite of a below-average income and significant student debt, he reached his goal at 29 with a 2.125% interest rate because of the NACA program.
- Alexandria McMillian is a single parent who combined a grant from the City of Houston with the NACA program to buy a home for herself and her son in southeast Houston with a rate of 3.375%
- Eliud Sierra is a food service worker for the Houston Independent School district, whose income is less than one third of the median household income for the Houston metropolitan area. His 0.0625% interest rate made homeownership possible for him with a payment of just $700 that includes principal, interest, taxes and insurance.
They are just a few of the hundreds the Houston area whose lives have been dramatically changed for the better by achieving the American Dream of homeownership through the NACA program. These homeowners and many others are available for interviews in advance of NACA’s Achieve the Dream Event, which takes place March 21-24 at the Greenspoint Mall. Please contact NACA Media Coordinator Tim Trumble at 671-947-2632 or CEO Bruce Marks at 617-835-4477 for more information and to arrange interviews.
*****MEDIA ADVISORY *****
FOR IMMEDIATE RELEASE
February 15, 2019
CONTACT:
Tim Trumble – Media Coordinator; Cell: 617-947-2632; ttrumble@naca.com
Bruce Marks – NACA CEO; Cell: 617-835-4477; bmarks@naca.com
WHAT: CONGRESSMAN DARREN SOTO TO VISIT NACA’S ACHIEVE THE DREAM EVENT
WHERE: Park Inn Radisson, 311 Maingate Lane, Kissimmee, FL 34747
WHEN: Media Opportunity – Saturday, February 16th, 11:00 a.m.
WHO: Hundreds of homebuyers, NACA homeowners and NACA CEO Bruce Marks
(Kissimmee, FL – February 15, 2019) Florida 9th District Congressman Darren Soto (D) will visit NACA’s Achieve the Dream homeownership event Saturday morning at 11:00 a.m. at the Park Inn Radisson, 3011 Maingate Lane, Kissimmee, FL 34747. While at the event, the congressman will meet with NACA homeowners, hundreds of homebuyers and NACA CEO Bruce Marks. (click for event flyer)
The Achieve the Dream event, which opened Thursday, is helping thousands of low and moderate income home buyers obtain NACA’s Best in America mortgage which features no down payment, no closing costs, no PMI and no need for perfect credit. Ten years after the beginning of the mortgage crisis, NACA is the one bright light in the disastrous lack of mortgage lending for low to moderate-income and minority borrowers. (click for CNBC story)
NACA CEO Bruce Marks commented, “As a member of the House Subcommittee on Consumer Protection and Commerce, Congressman Soto is acutely aware of the affordable housing crisis in Florida and the entire country. He will get to see how the NACA program and especially our Achieve the Dream events directly address the housing crisis by providing low and moderate income buyers with NACA’s Best in America mortgage that destroys the myth that it is not possible to lend on affordable terms to low-to-moderate income and minority individuals on scale.”
As Forbes magazine stated in their comparison of the best low down payment mortgages, “There is one exception, NACA, that charges the same rate regardless of the credit score”. Bank of America has committed $10 Billion to the NACA mortgage program.
The Orlando Achieve the Dream event runs through Sunday, February 17th from 8:00 AM to 8:00 PM each day. The event is open to all prospective homebuyers, and NACA services are free of charge. Previous NACA Achieve the Dream events have been spectacularly successful with more than 5,000 participants at each one across the country and thousands of pre-approvals.
NACA Mortgage underwriting does not use the restrictive and ineffective “Risk Based Lending” criteria. NACA underwriters evaluate each borrower based on their individual circumstances, eliminating late payments they do not control and considering compensating factors. All borrowers receive the same extraordinary terms:
• No down payment required
• No closing costs (lender paid)
• No fees
• Loan-to-value -100% for purchase and 110% for purchases with a rehab
• No consideration of credit score
• Below market fixed interest rate
• Term of 15 or 30 years fully amortizing
• Buy-down to permanently reduce the interest rate to virtually zero percent
• Purchase and renovation funds available
The Achieve the Dream event is open to all prospective homebuyers. NACA services are free of charge and walk-ins are welcome.
Media Links:
Local 10 Miami
NACA Video
Hawaii Public Radio
Spectrum News Charlotte
About NACA (www.naca.com):
The Neighborhood Assistance Corporation of America (NACA) is a non-profit organization dedicated to economic justice through home ownership and community action. Founded by economic advocate Bruce Marks over thirty years ago, NACA is the largest HUD certified counseling agency with more than two million members nationwide. Through programs such as the Best in America Mortgage and HomeSave, NACA has helped thousands of consumers modify an unaffordable existing home loan or secure a mortgage to purchase a new home. With 50 offices nationwide, and our HUD approved housing counseling agency providing about 50% of the total counseling in the country, NACA is setting the national standard. NACA’s proven process allows low to moderate income consumers to realize the American dream of homeownership. Bank of America has committed $10 billion to NACA pre-approved mortgage loans. www.naca.com. Event flyer. #AchieveTheDreamNACA. NMLS 4082
FOR IMMEDIATE RELEASE
Press Release – February 8, 2019
CONTACT:
Tim Trumble – Media Coordinator; Cell: 617-947-2632; ttrumble@naca.com
Bruce Marks – NACA CEO; Cell: 617-835-4477; bmarks@naca.com
(ORLANDO, FL – February 8, 2019) – The largest homeownership event in the United States will take place in the Orlando area over five days from Thursday, February 14th through Sunday, February 17th. Thousands of future homeowners from Florida and across the US will attend NACA’s “Achieve the Dream” event at The Park Inn and Conference Center, 3011 Maingate Ln, Kissimmee, FL 34747.
The NACA (Neighborhood Assistance Corporation of America) Achieve the Dream event will feature its one-stop mortgage operation, accessing NACA’s “Best in America” mortgage. Attendees can be pre-approved for NACA’s mortgage which features no down payment, no closing costs, no fees, a below market fixed rate and without consideration of a borrowers credit score (click here for flyer).
NACA provides the same extraordinary terms for all borrowers. As Forbes magazine stated in their comparison of the best low down payment mortgages, “There is one exception, NACA, that charges the same rate regardless of the credit score”. NACA has more $13 Billion committed by major banks for their mortgage program. Homebuyers at the event, many of whom had previously given up on homeownership, can be pre-approved the same day through NACA’s four-step process.
The Orlando Achieve the Dream event will be the first event such event in 2019, and the 15th event of the tour, which began in February 2018. Previous NACA Achieve the Dream events have been spectacularly successful with more than 100,000 participants attending the 14 Achieve the Dream events conducted during 2018.
With extremely low numbers of low-to-moderate income and minority buyers achieving homeownership recently, NACA’s Achieve the Dream events have been the one bright spot in a dismal picture. The upcoming Orlando event will significantly impact the affordable housing crisis in Central Florida and beyond.
“The roadblocks to homeownership for low- and moderate-income people have reached crisis proportions”, states Bruce Marks, NACA founder and CEO. “People are coming because their families, friends, co-workers and neighborhoods around the country have told them that NACA is the organization to help them achieve affordable homeownership”, Marks continued.
During the mortgage crisis, through NACA’s Save the Dream events, more than 250,000 homeowners were able to modify their unaffordable mortgages, often the same day. NACA’s Achieve the Dream events provide the same extraordinary outcomes for many thousands of homebuyers.
The NACA Mortgage does not use credit scores or “Risk Based Lending” but underwrites each borrower based on their individual circumstances, disregarding late payments they do not control and considering compensating factors. All borrowers receive these extraordinary terms:
The Achieve the Dream event is open to all prospective homebuyers and NACA services are free of charge. Advance registration can be done at www.naca.com and walk-ins are welcome.
Media Links:
NACA Video
Hawaii Public Radio
Local 10 Miami
Spectrum News Charlotte
About NACA (www.naca.com):
The Neighborhood Assistance Corporation of America (NACA) is a non-profit organization dedicated to economic justice through home ownership and community action. Founded by economic advocate Bruce Marks more than thirty years ago, NACA is the nation’s largest HUD certified counseling agency. Through programs such as the Best in America Mortgage and HomeSave, NACA has helped thousands of consumers modify an unaffordable existing home loan or secure a mortgage to purchase a new home. NACA has a proven track record of providing affordable homeownership to low and moderate-income consumers. www.naca.com. #AchieveTheDreamNACA
ALL MEMBERS PLEASE NOTE: As of today, you must be current on your membership dues for 2018 and 2019 in order to proceed past Stage 1 in the NACA process. A block presently is in place on all NACA Purchase Program files for which dues have not been paid through 2019.
Dues may be paid to your counselor at the local office or by phone. The system will recognize a pending payment and count it towards your dues paid and remove the block that is in place as of today. (Should the payment bounce after being collected, the block will be restored and dues must be re-collected.)
Membership dues must be collected every calendar year, so 2019 dues must be collected for all Members, regardless of when they paid their 2018 dues or joined NACA.
If you still have questions, please contact NACA Member Services at 425-602-6222.
IT’S HERE! NACA announces our first Achieve the Dream event of 2019! We will be in the #ORLANDO area February 14th through 17th at the Park Inn Resort & Conference Center, 3011 Maingate Ln, Kissimmee, FL 34747. Doors open 8:00 am to 8:00 pm each day. Register now at www.naca.com!
As a result of the ongoing Federal Government shutdown, NACA will delay the requirement of Tax Transcripts for new Members. Please note that the requirement for a tax transcript for the past two years’ returns is only being DELAYED, not SUSPENDED. All affected members will need to obtain tax transcripts from the IRS as soon as the shutdown ends or an appropriations bill is passed that allows the Treasury Department/IRS to re-open.
This delay does not apply to Members that have not been able to verify they filed at previous requests.
Members must still submit their completed and signed tax returns from the past two years. For the time being, we will accept a signed statement that reads “I attest the attached 1040s are what I filed, and I will obtain transcripts when they become available” in lieu of the accompanying transcripts.
Reminders:
All NACA Members currently in the NACA Purchase Program or Home Save Program who are W-2 wage earners or 1099 employees/independent contractors must have their 2018 W-2 and 1099 forms submitted to their NACA file no later than Thursday, February 1, 2018.
These forms are required by law to be delivered to the wage earner no later than January 31st, and must in turn be submitted to your NACA file immediately for your file to continue forward in the process.
Files that do no have these documents included by February 1 may not continue in the NACA process, and may result in the cancellation of counseling appointments until the documents are received.
Likewise, completed 2018 tax returns must be in the file no later than this year’s filing deadline, Monday, April 15th. Files without completed tax returns on April 16 are also subject to suspension until documents have been submitted. This includes members who have filed a Form 4868, Application for Automatic Extension of Time to File.
These documents are required in a timely manner so we may confirm your income and affordability. Your cooperation in submitting these documents is greatly appreciated and will prevent you from unnecessary delays in your journey to home ownership or an affordable modification.
Any questions may be directed to NACA Member Services at 425-602-6222 from 8:30 a.m. to 5:30 p.m. Monday through Friday.
Dear NACA Members,
I wanted to take a moment to wish everyone a very Happy Thanksgiving!
We have a great deal to be thankful for. We at NACA are especially thankful for the opportunity we are given every day to help families have a home of their own.
Knowing that we have been a part of improving the lives of families that now have the comfort of a home that they own, is truly affordable and in which they can raise families and share time together is not only very gratifying for us but is a huge part of the motivation that keeps us going, now for more than 30 years.
This has been a very active, productive and even adventurous year for NACA. As we start to wind down 2018 and prepare for 2019 we see that there is more for NACA to do than ever before. We will hold more Achieve the Dream events, continue to expand our network of offices and increase our community activism, all focused on our mission of economic justice. And we look forward to it with great enthusiasm.
I have the great privilege of leading an awesome staff at NACA, and we hope that you enjoy the long holiday weekend with family and friends as we will be doing. Have a safe and wonderful Thanksgiving holiday!
Sincerely,
Bruce Marks
