Forum Replies Created
I’m happy to do whatever I can to help. There is still a lot of room for improvement. The high counselor, MC turnover rate (my experience) is probably a direct result of the high stress, long hours, pushy impatient “entitled” personalities and the other demand issues you describe. I know it works and I know what I went through and what I had to do to get it done. I just want to help communicate that to newbies and those stuck in one stage or another. I am forever grateful to NACA and the home it helped me get for me and my boys when no one, I mean, NO ONE (FHA, Credit Unions) would give me a break or tell me what needed to be done. Looking forward to telling my story and volunteering at the next event!
I signed up for the semi-monthly plan. The first mortgage pay will come out on the first like normal. Then I get hit for half on 15 and half on the last day o the month. So gotta save up a little. I’ll let you know how it goes. Luxury problems. ; )
Thanks. I’m really not getting the “down” side of this. It’s just another option available through Citi. I can stop it and go back to regular monthly payment plan at any time as I am managing my loan online. Why go through all that extra trouble? They pull out half my normal mortgage payment twice a month plus about $38 (1/24th of my monthly)which adds up to another mortgage payment. Yes, I could do it myself, but why go through all that trouble? Am I missing something?
Thanks Pearl. I suppose for two reasons:
a) I like to set my payment up to auto draft. It works better for me to have it taken out before I even see it.
b) I don’t know about you but I would never send in an extra payment voluntarily. There’s just too many competing expenses in my life. This way that extra payment is divided out during the year and lessens the pain and improves the consistency. It would never be something I would do regularly enough for it to make a difference. I’m just not good about that.
But, you know, different strokes.
channon — Congratulations! You are in the homestretch for sure. You are doing the right thing by contacting EVERYONE you have ever dealt with and have an email address for. I closed on May 10, so I believe in the program and am filled with gratitude. However, the right hand often does not seem to know what the left is doing. It is your job to keep bringing everyone to the same page. It’s out of your hand at this point but be aware the underwriters can come back at any time with a list of contingencies that you will have to clear up. But keep your chin up you are almost there. It took me a little over 45 days from contract acceptance to close (with one extension). Good luck!
Just keep hammering them until you get a response. When you send an email, cc every address you’ve ever come in contact with especially higher ups and include HAND and bank people if you dealt with them. I found many times the right hand doesnt’ know what the left is doing and there is a lot of redundancy. Make sure you write a letter of explanation for everything they ask about and don’t just email or fax it; do both. Just keep your chin up and email someone every day until you close. I closed on May 10, 2012 and it was the hardest thing I’ve ever done. NACA works, but you have to work it.
@nchkel: I closed on my loan May 10 after 1.5 years in the process. You have to really stay vigilant with your MC and if they go MIA (as often happens) and drop off the face of the planet, you need to call you local office until someone answers and picks up your file. That happened with me and I wouldn’t be a homeowner today if it weren’t for Cahteryn Rosales at San Antonio NACA who just so happened to pick up the phone when I called and then and there started working my file. It’s easy to fall through the cracks, but yes, the program works. When they ask for something just stop everything and do it. You will be a homeowner. Never lose faith. NACA works. You will think it’s a miracle when it does, but it does I assure you.
Good luck relaxing Jack, I. I closed two weeks ago and still havent’ gotten around to that…haha. Maybe this weekend. It’s a lot of work but a luxury “problem” to have! Congrats and yes, schedule in a minute or two on Sunday to chill. Remember you have 30-years to get all this stuff done. LOL
Hang tough Nupe, Jack and Packed…but by all means, don’t hang “Quietly”. Begin each day with a “Good morning NACA” email — checking in on your status and to see if anything else is needed. Cc everyone you’ve dealt with along the dusty trail include your agent and any And all MC’s, HAND folks and underwriters or bank contacts. By the end I had at least 6 people tied into every email. I’m sure they loved me by the end but it keeps everyone on their toes and the conversation open upbeat and positive. You won’t always get an answer but it let’s the right hand know what the left hand is doing so to speak. That way you don’t feel so useless…you are taking charge of the solution and being proactive and vigilant. It’s the only way this will fly. Good luck. Have faith. Your higher power did not bring you this far to let you fall! Praying for you all.
Hang in there packedandready! You are in the homestretch! Many are called few are chosen! You are there so hang tough….
It took me at least another two weeks of file updates and various delays after my file was submitted to underwriting. don’t be surprised if they ask for the same stuff you know you’ve sent, just resend it, smile and say thank you! I closed on my NACA home May 10 and, aside from the birth of my children, it was the greatest day of my life. I was just so exhausted by the time I got there I am only now basking in the glow! You’ll get there though. The program works…the last word I wanted to hear at your stage was patience…but it’s true….
That sounds terrible channon — I feel your pain. But DEFININITETLY — If you can go another path, DO IT! I did purchase a home through NACA, but only because it was my only option. Like you my credit was fair, but I did have some outstanding broken lease issue relating to my ex-wife that followed me like the plague. The NACA qualification really means very little in terms of being close to purchase. Essentially you have to resubmit to the bank all over again once you find a property. I was NACA qualified Feb. 14 and closed on May 10. Four days before my 90-day window closed. And I wasted little time. I would a) make sure you don’t qualify for down payment assistance or at least b) find another NACA qualified agent in your area to work with. You are correct. Something doesn’t smell right — make sure you are not bidding on foreclosures or short sales. Those just go in the black hole and are for people with unlimited time on their hands. Hang in there, you made it this far, you have all your paperwork together, keep plugging away. There is an option for everyone. NACA may not be yours but you can’t be sure unless you’ve tried all the other avenues. I did and they were closed for various reasons. NACA is a great but poorly executed home buyer program. Unfortunately. Good luck!
Citi-Mortgage guy here — Closed on May 10! Been meaning to get back here because I know success stories are like dew drops in the NACA desert. So, As I recall, It took a while between getting my file all cleared up, stuff faxed and re-faxed, explanation letters written etc, until I got the clear to close. I think maybe a week or so. At the time it seemed like forever. It’s been a year and a half since my intake appointment. But the last thing was the HAND dept. and the bids I had from my contractor. We had to work on those a bit to get it to jive. Still not completely clear on how that process works, but it did. After that it was still maybe another week. But things really sped up on May 5, I got a call from someone on the east coast and they asked me a few questions and then rang a little cheezy bell. It was quite anti-climactic. Then on May 7, got CTC from MC, then title company set May 10 as the day. I had to drive back from Baton Rouge to Austin after my flight was cancelled to make the noon closing. Never worked so hard for something in my whole life. Hang tough brothers and sisters it is a test and you will pass if you are patient and ever-vigilant! Don’t let a minute pass between getting a request and fullfilling it. You kind of have to stop everything and get it done because there is a brief window of opportunity you have your MC’s or banks attention and if you wait, you will get passed over for the next file. I’m afraid that’s just how it is. NACA is overstaffed, overstressed and overwhelmed. The people there are threre for the right reasons though, so try to be nice and work with them. I want to help facilitate the communication process between buyers and the NACA/Bank bureacracy as part of my volunteer service. My two boys are so thrilled that we finally have a house and they each have their own bedroom, 6-year old keeps dancing around singing — “we finally have a house, we finally have a house” — it’s a great feeling. Thank you NACA!