NACA Brings Extraordinary Homebuyer Event to Baltimore August 8 – 12

By TTrumble | Published August 2, 2019

*****PRESS RELEASE*****
FOR IMMEDIATE RELEASE
August 2, 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: Homebuyer Event for same-day pre-approval for NACA’s Best in America Mortgage
WHERE: Radisson Hotel Baltimore Inner Harbor, 101 W. Fayette St, Baltimore, MD 21201
WHEN: Thursday, August 8th through Monday, August 12th, 8:00 am to 8:00 pm each day
WHO: Thousands of Homebuyers from Across the Area

NACA TO HOLD HOMEOWNERSHIP EVENT FOR THOUSANDS IN BALTIMORE

LOW-TO-MODERATE INCOME PEOPLE WILL ACCESS NACA’S BEST IN AMERICA MORTGAGE WITH NO DOWNPAYMENT, NO CLOSING COSTS AT BELOW MARKET FIXED RATE

(BALTIMORE – August 2, 2019) – NACA (Neighborhood Assistance Corporation of America), the nation’s largest HUD certified, non-profit housing counseling and community advocacy organization, is bringing a massive homeownership event to Baltimore for five days from Thursday, August 8th through Monday, August 12th.   This “Achieve the Dream” event will bring extraordinary homeownership opportunities with NACA’s Best in America Mortgage. Thousands of people will attend from the Baltimore area and across the country to take advantage of NACA’s program (event flyer).

During this one-stop mortgage operation, the NACA program provides unprecedented homeownership opportunities for low to moderate income homebuyers with the Best in America mortgage that requires no down payment, no closing costs, no PMI, at a below-market fixed rate and without consideration of a homebuyer’s credit score.  The interest rate is 3.375% APR for 30-year fixed and 2.875% APR 15-year fixed (as of 7/30/19).  AsForbes magazine noted, every lender with a low down payment mortgage charges a different interest rate depending on the borrowers circumstances. Then they pointed out, “There is one exception, NACA, that charges the same rate regardless of the credit score”.  NACA has $15 Billion committed to the NACA Mortgage with $10 Billion from Bank of America.  NACA counselors and underwriters will be on-site at the event to approve many homebuyers in one day for the NACA Mortgage.

“It may sound too good to be true”, states Bruce Marks, NACA’s CEO and founder, “but NACA has a tremendous track record of unprecedented success over 20 years with this one outstanding mortgage.  With more than 60,000 NACA homeowners and one of the lowest foreclosure rates, we have demonstrated that working people with limited savings make their mortgage payments.  As good as it sounds, it is even better, which is why thousands of homebuyers attend each of our Achieve the Dream events.”

Tens of thousands of people have attended the 20 previous Achieve the Dream events across the country, with the drum beat in the communities that NACA is where to go for affordable homeownership to low-to-moderate income and minority individuals. The Achieve the Dream event is open to all prospective homebuyers and all current homeowners who have an unaffordable mortgage. NACA services are free of charge and walk-ins are welcome. (click for CNBC story)

 

 

 

 

 

 

 

 

 

 

A fixed 3.0% rate and paying $300 per month less than rent! Ms. Hawkins is a new Baltimore area homeowner through the NACA Purchase Program. “I really appreciate all of the hard-working people at NACA. My daughter and I will be forever grateful.”

 

 

 

 

 

 

 

 

Mr. Daniels and Mr. Boothe are all smiles after closing on their Baltimore home! Their NACA Purchase had no down payment, no closing costs and no PMI. Plus a fantastic 2.125% interest rate and a payment about the same as rent!

 

 

 

 

 

 

 

 

Mr. and Mrs. Hayes have a beautiful home in Columbia, MD in which to raise their daughter. Their 2.75% interest rate ensures that their mortgage payment will be genuinely affordable and stay that way!

 

 

 

 

 

 

 

 

Ms. Barnette took advantage of NACA’s incredible 15-year Freedom Loan and bought down her interest rate to an amazing 0.125%! She now owns a Baltimore home for the same as she paid in rent and will own it free and clear in just 15 Years!

 

 

 

 

 

 

 

Congratulations Ms. Strickland! Opening the door of her new home! Fantastic 2.625% APR fixed rate. Paying less than rent too!

 

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 affordable home ownership and community action. Founded by Bruce Marks over thirty years ago, NACA is the largest HUD certified counseling agency with more than two million members nationwide. NACA’s proven process has established the national standard for low to modest income people realize the American dream of homeownership. NACA also has an impressive track record assisting homeowners. During the mortgage crisis, through NACA’s Save the Dream events, more than 250,000 homeowners were able to modify their unaffordable mortgages. Now, NACA’s Achieve the Dream events provide the same extraordinary outcomes for many thousands of homebuyerswww.naca.com. Event flyer. #AchieveTheDreamNACA.

 

Posted in NACA Purchase Program, NACA Technology, Save the Dream, Uncategorized | Leave a comment

NACA SOCIAL MEDIA GUIDELINES – MUST READ BEFORE POSTING

By TTrumble | Published July 11, 2017

The following are the guidelines for this Forum and all NACA social media, including Facebook, Twitter, Google Plus, Pinterest, LinkedIn, YouTube and Live Chat:

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!

Posted in NACA Purchase Program, NACA Technology, Save the Dream, Uncategorized | 35 Comments

NACA Brings Massive Homebuyer Event to NYC June 27 – July 1

By TTrumble | Published June 26, 2019

*****PRESS RELEASE*****

FOR IMMEDIATE RELEASE
June 25, 2019

 

CONTACT:

Tim Trumble – Media Coordinator; Cell: 617-947-2632; ttrumble@naca.com

Katina Fields – Public Relations; Cell: 714-865-5690; Katina.fields@gmail.com

 

WHAT: Homebuyer Event for same-day pre-approval for NACA’s Best in America Mortgage
WHERE: Resorts World Casino New York City, 110-00 Rockaway Blvd. Jamaica, Queens, NY 11420
WHEN: Thursday, June 27h through Monday July 1st, 8:00 am to 8:00 pm each day
WHO: Thousands of Homebuyers from Across the Area

 

NACA HOLDS HOMEOWNERSHIP EVENT FOR THOUSANDS IN QUEENS

 LOW-TO-MODERATE INCOME PEOPLE TO ACCEESS NACA’S BEST IN AMERICA MORTGAGE WITH NO DOWNPAYMENT, NO CLOSING COST AT BELOW MARKET FIXED RATE

(Queens, NY – June 25, 2019) – NACA (Neighborhood Assistance Corporation of America), the nation’s largest HUD certified, non-profit housing counseling and community advocacy organization, is bringing a massive homeownership event to Jamaica, Queens for four days from Thursday, June 27th through Monday, July 1st.   This “Achieve the Dream” event will bring extraordinary homeownership opportunities with NACA’s Best in America Mortgage program. Thousands of people will attend from Queens, Brooklyn, Newark and across the country to take advantage of NACA’s program (event flyer).

During this one-stop mortgage operation, the NACA program provides unprecedented homeownership opportunities for low to moderate income homebuyers with the Best in America mortgage that requires no down payment, no closing costs, no PMI, at a below-market fixed rate and without consideration of a homebuyer’s credit score.  The interest rate is 3.5% APR for 30-year fixed and 2.75% APR 15-year fixed (as of 6/25/19).  As Forbes magazine noted, every lender with a low down payment mortgage charges a different interest rate depending on the borrowers circumstances. Then they pointed out, “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.  NACA counselors and underwriters will be on-site at the event to approve many homebuyers in one day for the NACA Mortgage.

“It may sound too good to be true”, states Bruce Marks, NACA’s CEO and founder, but NACA has a tremendous track record of unprecedented success over 20 years with this one outstanding mortgage.  With more than 60,000 NACA homeowners and one of the lowest foreclosure rates, we have demonstrated that working people with limited savings make their mortgage payments.  As good as it sounds, it is even better, which is why thousands of homebuyers attend each of our Achieve the Dream events.”

The New York City Achieve the Dream event runs Thursday, June 27th through Monday, July 1st from 8:00 AM to 8:00 PM each day. Tens of thousands of people have attended the 17 previous Achieve the Dream events across the country, which have destroyed the myth that it is not possible to lend on affordable terms to low-to-moderate income and minority individuals. The Achieve the Dream event is open to all prospective homebuyers and all current homeowners who have an unaffordable mortgage. NACA services are free of charge and walk-ins are welcome. (click for CNBC story)

Below are several NACA homeowners from around the area:

The Brito family got a 1% rate on their Union, NJ home. “We have been looking for a house for about two years. A friend told me about NACA a while back. Thank you NACA for helping us through our journey.”

 

Ms. Milord got a fantastic present, becoming a Freeport, NY homeowner on her birthday! “I learned so much more about owning a home just by going through the NACA program.” Her 1% fixed interest rate was the icing on the cake!

 

The Rojas family bought their Parlin, NJ home with a fixed 1.25% interest rate! “NACA really does offer the opportunity to obtain the best mortgage around. Our counselor kept our spirits high and reassured us we would become homeowners.”

 

The Clarkes bought a two-family home in Bloomfield, NJ with a very comfortable 2.875% interest rate. “NACA has been very helpful. It has been a learning experience and I am fortunate to be a homeowner!”

 

The Funaris got an incredible 1.625% fixed rate on their Monroe, NY home. “NACA has made it possible for us to buy our dream home. We wouldn’t be able to have this dream come true without NACA.”

 

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 affordable home ownership and community action. Founded by Bruce Marks over thirty years ago, NACA is the largest HUD certified counseling agency with more than two million members nationwide. NACA’s proven process has established the national standard for low to modest income people realize the American dream of homeownership. NACA also has an impressive track record assisting homeowners. During the mortgage crisis, through NACA’s Save the Dream events, more than 250,000 homeowners were able to modify their unaffordable mortgages. Now, NACA’s Achieve the Dream events provide the same extraordinary outcomes for many thousands of homebuyers.  www.naca.com. Event flyer. #AchieveTheDreamNACA.

 

 

 

 

 

 

Posted in Uncategorized | Leave a comment

NEW BOA GRANT PROGRAM

By TTrumble | Published June 4, 2019

We have an awesome new grant program from Bank of America. This grant reduces the already below market NACA interest rate by one percent for borrowers whose income is less than or equal to 80% of the median income for the Metropolitan Statistical Area (MSA) in which they are purchasing.  This incredible new grant is available for Members purchasing in the MSA’s listed below.

For example, let’s say today’s interest rate posted on NACA.com is 3.625%. If the Member is buying in one of the MSA’s listed below and their income shown on the 1003 form (bank application) is less than or equal to 80% of the median for that MSA, they start with a 2.625% interest rate at no cost to them.

The Member is limited to a buy down of additional five discount points using their money, other grant funds and/or from the seller (in this scenario the resulting interest rate is 1.375%).

This NACA/BOA grant applies to both fifteen and thirty-year loan terms. Household members do not have to be included in the application income. The grant is based on the application income even if that differs from their NACA Qualification income.  The MSA income used for the markets below is identified on the FFIEC website by property at

https://geomap.ffiec.gov/FFIECGeocMap/GeocodeMap1.aspx and by area at https://www.ffiec.gov/pdf/msa18inc.pdf . When the median income figures are updated for 2019 later this year, those figures will then be used to determine eligibility.

This grant is available now and will be automatic for members who qualify.

Here is the list of qualifying MSA’s:

PHOENIX-MESA-SCOTTSDALE AZ

ANAHEIM-SANTA ANA-IRVINE CA

FRESNO CA

LOS ANGELES-LONG BEACH-GLENDALE CA

OXNARD-THOUSAND OAKS-VENTURE CA

RIVERSIDE-SAN BERNARDINO-ONTARIO CA

SACRAMENTO-ROSEVILLE-ARDEN-ARCADE CA

SALINAS CA

SAN DIEGO-CARLSBAD CA

SANTA CRUZ-WATSONVILLE CA

SANTA MARIA-SANTA BARBARA CA

DENVER-AURORA-LAKEWOOD CO

BRIDGEPORT-STAMFORD-NORWALK CT

NEW HAVEN-MILFORD CT

WASHINGTON-ARLINGTON-ALEXANDRIA DC/VA/MD/WV

WILMINGTON DE/MD/NJ

FORT LAUDERDALE-POMPANO BEACH-DEERFIELD BEACH FL

JACKSONVILLE FL

MIAMI-MIAMI BEACH-KENDALL FL

ORLANDO-KISSIMMEE-SANFORD FL

WEST PALM BEACH-BOCA RATON-DELRAY BEACH FL

SAVANNAH GA

CHICAGO-NAPERVILLE-ARLINGTON HEIGHTS IL

LAKE COUNTY-KENOSHA COUNTY IL/WI

BOSTON MA

CAMBRIDGE-NEWTON-FRAMINGHAM MA

BALTIMORE-COLUMBIA-TOWSON MD

SILVER SPRING-FREDERICK-ROCKVILLE MD

DETROIT-DEARBORN-LIVONIA MI

CAMDEN NJ

NEWARK NJ/PA

ALBUQUERQUE NM

LAS CRUCES NM

SANTA FE NM

LAS VEGAS-HENDERSON-PARADISE NV

BUFFALO-CHEEKTOWAGA-NIAGARA FALLS NY

NASSAU COUNTY-SUFFOLK COUNTY NY

NEW YORK-JERSEY CITY-WHITE PLAINS NY/NJ

MONTGOMERY COUNTY-BUCKS COUNTY-CHESTER COUNTY PA

PHILADELPHIA PA

AUSTIN-ROUND ROCK TX

DALLAS-PLANO-IRVING TX

SAN ANTONIO-NEW BRAUNFELS TX

RICHMOND VA

VIRGINIA BEACH-NORFOLK-NEWPORT NEWS VA/NC

SEATTLE-BELLEVUE-EVERETT WA

TACOMA-LAKEWOOD WA

 

 

 

 

 

 

Posted in NACA Purchase Program, NACA Technology, Save the Dream, Uncategorized | 35 Comments

NEW ACHIEVE THE DREAM EVENTS SCHEDULED

By TTrumble | Published May 14, 2019

NEW ACHIEVE THE DREAM EVENT DATES! Here’s the full lineup:

ROCHESTER NY: June 13-16 – Joseph Floreano Convention Center
NEW YORK CITY: June 27-July 1 – Resorts World Casino, Jamaica Queens
HAMPTON VA: July 11-14 – Hampton Roads Convention Center
WORCESTER MA: July 25-28 – DCU Center
BALTIMORE MD: August 8-12 – Radisson Hotel Baltimore Inner Harbor
MEMPHIS TN: August 22-25 – Crowne Plaza Memphis East Hotel
ST LOUIS MO: September 19-22 – Hotel Lumiere

Details and registration for all of the above events can be found at www.naca.com

Posted in Uncategorized | 8 Comments

NEW SERVICER ON YOUR NACA/CITI MORTGAGE?

By TTrumble | Published April 25, 2019

We have had numerous inquiries from our members regarding the transfer of their Citimortgage NACA loans to another servicer.

The transfer is in keeping with Citi’s announcement two years ago that they would be leaving the mortgage servicing industry completely.  (https://www.citigroup.com/citi/news/2017/170130a.htm)This transfer in no way affects the terms of the loan and all the benefits of obtaining the loan through the NACA program remain in place.

Here are some tips for members whose NACA mortgages are now being serviced by a different entity:

  • The terms of the loan do not change with the servicing (principal and interest payment, interest rate, term length, etc.)
  • If the Member gets a letter from the new servicer, they should contact the old servicer to verify the servicing transfer to that entity to avoid sending payments to a scam. (The information about the servicing transfer should include: a) the date on which the old servicer will stop accepting payments b) the date on which the new servicer will begin accepting payments c) the new servicer contact information d) the specific date the right to service the loan transferred to the new servicer.)
  • The Member needs to make sure they send the payment to the new servicer on time or there will be a late fee assessed.  Loan service change is not a legitimate reason to withhold payments.
  • If they had automatic draft set up with the old servicer, make sure they stop it once payments are switched to the new one.
  • They need to carefully review the new servicer monthly statement to ensure the payments are credited accurately and the insurance company information is accurate.  This is a good practice indefinitely but should be done intensely for a minimum of three months after sending payments to the new servicer.
  • If the new or old servicer inaccurately reports late mortgage payments, dispute the reporting with the credit reporting agencies www.ai.equifax.com/CreditInvestigation  www.experian.com/disputes/main.html  and https://dispute.transunion.com  send a letter to the CFPB.
Posted in Uncategorized | 6 Comments

1040 TAX RETURNS MUST NOW BE FILED AND IN YOUR NACA FILE

By TTrumble | Published April 15, 2019

 

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.

Posted in NACA Purchase Program, NACA Technology, Save the Dream, Uncategorized | Leave a comment

Hundreds demand access to credit and to attend hearing with Mega Bank CEOs

By TTrumble | Published April 9, 2019

*****PRESS RELEASE *****

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.

 

Posted in NACA Purchase Program, NACA Technology, Save the Dream, Uncategorized | 2 Comments

HOUSTON ACHIEVE THE DREAM EVENT & HOMEOWNER STORIES

By TTrumble | Published March 6, 2019

*****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.com

HOUSTONIANS’ 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.

 

 

Posted in NACA Purchase Program, NACA Technology, Save the Dream, Uncategorized | 2 Comments

MEDIA ADVISORY – CONGRESSMAN DARREN SOTO TO VISIT NACA ACHIEVE THE DREAM EVENT 11:00 SATURDAY MORNING

By TTrumble | Published February 16, 2019

*****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

CONGRESSMAN DARREN SOTO TO VISIT NACA’S HOMEOWNERSHIP EVENT WITH HUNDREDS OF HOMEBUYERS SATURDAY MORNING

NACA PROVIDES EXTRAORDINARY HOMEOWNERSHIP OPPORTUNITY WITH AMERICA’S BEST MORTGAGE: NO DOWNPAYMENT, NO CLOSING COSTS & BELOW MARKET FIXED RATE – 3.875% APR (2/15/19)

(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

Posted in NACA Purchase Program, NACA Technology, Save the Dream, Uncategorized | Leave a comment

ACHIEVE THE DREAM EVENT OPENS IN ORLANDO FEBRUARY 14TH

By TTrumble | Published February 8, 2019

 

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

 

 

NACA BRINGS BIGGEST HOMEOWNERSHIP EVENT IN AMERICA TO ORLANDO

 

THOUSANDS EXPECTED TO ATTEND EVENT TO ACCESS NACA’S BEST IN AMERICA MORTGAGE

 

(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:

  • 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 – evaluation of payment history the borrower controls.
  • 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 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

 

Posted in NACA Purchase Program, NACA Technology, Save the Dream, Uncategorized | 2 Comments
Follow us on Facebook RSS Feed Follow us on Twitter