TTrumble

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Viewing 15 posts - 46 through 60 (of 6,777 total)
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  • in reply to: Sooner date for Intake process? #71140
    TTrumble
    Member

    Hello PrayingInCali,

    I need to be just a little straightforward with you. Thinking “I’m worried that I will find myself in a holding pattern for months and months” is exactly what you have to avoid. It will become a self fulfilling prophecy and will turn you into your own worst enemy.

    That kind of mindset will magnify every little bump in the road (and there WILL be bumps in the road) into a mountain and will turn every week into what seems like a month. I have seen so many people scuttle their own dreams by buying into the wrong perspective.

    Worry is a total waste of energy. Instead, recognize that there will be things to deal with, the timeline will not go as you imagine it should, and you’ll be asked to do things that seem at least redundant or even wasteful. Resolve yourself to doing whatever is needed to get past the bumps, be overprepared, and NEVER let it distract you from the final objective of getting those keys in your hand.

    The people who do best in the NACA program often approach it as taking on a part time job and applying yourself accordingly. Under those circumstances, it will be by far the best paying part time job you will ever have.

    Be proactive. Be a “polite pest” when it comes contacting your counselor. Remember that patience and persistence are the two most powerful tools you have in the NACA program. And remember you have an incredible community of people here on the Forum to provide you with help and information, or just some encouragement when needed.

    All that having been said, your presenter was right. You CAN move through quickly, but YOU will determine that FAR more than anyone or anything else. Your determination, preparedness and how proactive you are will make worlds of difference.

    We have already had several people who started the process with the virtual ATD events complete the process and close on their home. So yes, it is possible to to the whole thing in three months. It’s you who will determine whether you do the same.

    Please keep us updated on your progress.

    Tim Trumble
    Online Operations, NACA
    ttrumble@naca.com

    in reply to: Underwriting response timeline #71138
    TTrumble
    Member

    Hello girlsmom,

    At this point in time, give it a week. You should hear something in the next day or two.

    I have been absolutely flabbergasted by the huge, unbelievable volume of files we are handling at the moment. The last thing any of us expected when we ended the live Achieve the Dream events in March was that things would actually get busier, but that is exactly what has happened!

    I can only guess that the virtual ATD events have resulted in a higher “quality” of files coming through the system somehow, but we submitted more bank apps to Bank of America in July than any other month in our history!

    Don’t ask me why, but everything is busier right now, including here on the Forum! It hasn’t been this busy since the foreclosure crisis. Member Services’ phones are ringing off the hook. Our online Qualification Workshops are filled to capacity weeks in advance and our Saturday Facebook Live workshops are now averaging more than 700 people each. Plus our other online workshops each week are all busy.

    As such, underwriting is up to its collective ears in work as well. But they still seem to be doing an amazing job, again because it seems each file is less of a challenge, has need for fewer conditions, and so on.

    Long story short, hang in there for a couple more days, and keep us updated here on the Forum.

    Tim Trumble
    Online Operations, NACA
    ttrumble@naca.com

    in reply to: What is going on? #71101
    TTrumble
    Member

    Hello TPeguese and jkp2020,

    Unfortunately, ATD event appointments are not transferable. Each appointment is linked to the file of the person registered. A generous offer, but not one that can be accommodated.

    Atlanta is the single busiest NACA office in the country. Even with hiring hundreds of new counselors, creating the Remote Counseling department and the ATD events to help alleviate the extreme burden, five months honestly doesn’t surprise me. Several offices are at four months. The ATD events are booked full through October.

    I’m continually referring to how massive the demand for our services has become, but it seems to be difficult for people to understand the real-life consequences of that demand. That December appointment was literally the first one available.

    Add to that the fact that many of our counselors are still working from home, which has cut them off from their office phones, making communications much more limited. (We may have a solution for that up and running soon though.) Because of that, their email boxes are being flooded daily.

    The only real solution is patience. Don’t give up on trying to get an earlier appointment, but also be prepared for the long haul.

    Tim Trumble
    Online Operations, NACA
    ttrumble@naca.com

    in reply to: BOA & Future renovations #71099
    TTrumble
    Member

    Hello tdm27603,

    Not to state the obvious here, but for setting up your mortgage for automated or online payments, you should really contact BOA directly. However, it’s so simple these days that if you download the BOA app to your phone you can probably set it all up in about five minutes, even if your checking account is with a different bank.

    If you are referring to a home equity loan of some kind for the patio renovations, you will need to get clearance for the owner occupancy lien to be subordinated. Please contact the MAP department at 281-968-6222 for help in getting that clearance.

    Tim Trumble
    Online Operations, NACA
    ttrumble@naca.com

    in reply to: Qual amount discrepancy #71096
    TTrumble
    Member

    Hello SBul_81,

    To put it simply, you are either misreading things, you have a serious affordability problem, or your total debt including your desired mortgage payment is really that small.

    Then only way your DTI shows up under 40% is if your total debt, including the desired mortgage, is actually under 40%.

    The only two ways the housing ratio is under 31% is if your other (non-housing) debts are greater than the 9% difference between the maximum DTI and HTI (40%-31%=9%) or your desired mortgage payment is less than 31%. Since you say your total DTI is only 28%, the excessive debt option isn’t possible.

    So either you have very little debt and desire a very small mortgage payment, or you are misreading something. Debt and housing ratios rarely are very rarely that small, but the fact you have no Payment Shock would limit you to a housing ratio no larger than that of your current rent, so it does add some credibility to the possibility of the desired payment being that small.

    “Clerical error” isn’t an option either since the computer determines those figures.

    I’m afraid you have a genuine mystery on your hands until your counselor responds. Keep emailing until you hear something back, and let us know what you find out.

    Tim Trumble
    Online Operations, NACA
    ttrumble@naca.com

    • This reply was modified 1 month, 3 weeks ago by TTrumble.
    TTrumble
    Member

    Hello coquipr79,

    The Remote Counseling team have their own appointments and are equally booked up as your local office.

    You are actually extremely fortunate to have an appointment scheduled so soon. Our Atlanta office is booked five months in advance and several others are at four months. The demand for our program is literally that huge, and there’s just no hurrying the process.

    The two things you can do are to email your counselor and remind him or her that everything is in the file and ask them to review the file at their first opportunity, and contact the local office and ask to be notified if there is a cancelled appointment that you can take to get your file reviewed and submitted to underwriting.

    There are literally that many people coming to NACA, and we are not allowed to turn away anyone who wants to start the program. We apologize for the wait times between appointments that some people are facing, but the NACA staff has been going nearly non-stop since the beginning of the year. We didn’t even slow down when the pandemic struck. We’ve streamlined the process, hired hundreds of new counselors, created the Remote Counseling program and even found a way to keep ATD events going virtually after the pandemic hit. We actually sent more bank applications to Bank of America in July than any other month in our history. In spite of all that, the demand continues to increase at every turn.

    All that means that patience is the only real answer here. There’s no “second channel”, no leapfrogging ahead, no end run around the system. When a member has an appointment scheduled, it’s the very first one available, period. It’s simply the only way to handle the incredible demand for what we do.

    Tim Trumble
    Online Operations, NACA
    ttrumble@naca.com

    in reply to: NACA Timeline during Pandemic #71091
    TTrumble
    Member

    Hello kjenkins79,

    CONGRATULATIONS!!!!!

    You prove to everyone that if you stick with it and simply never give up, you will become a homeowner through the NACA program. Extremely well done.

    Enjoy your home!

    Tim Trumble
    Online Operations, NACA
    ttrumble@naca.com

    in reply to: Sooner date for Intake process? #71058
    TTrumble
    Member

    Hello Ozioma06,

    Unless you specifically request otherwise, our members are always given the first open appointment available.

    I think a lot of times, people don’t quite grasp how massive the demand for the NACA program really is. There are at least six offices I can think of where an appointment four months out is probably normal right about now.

    This is why we created the Remote Counseling program and the Achieve the Dream events, to alleviate some of that burden and work with as many people as possible in the shortest amount of time without compromising our principles.

    It’s also why I keep preaching that patience and persistence are the two most powerful tools you have in the NACA program.

    You can register for an appointment at an upcoming Achieve the Dream event. right now, there are a few slots open for the last weekend in October, but that’s about the same time as your baby is due. You can also call the local office and ask to be put on a waiting list if there should be an appointment cancellation.

    Beyond that, I’m afraid there isn’t much that can be done. You best bet is to focus on being over-prepared for your appointment to eliminate any unnecessary additional appointments after that.

    Tim Trumble
    Online Operations, NACA
    ttrumble@naca.com

    in reply to: Can you switch over to NACA from another lender? #71055
    TTrumble
    Member

    Hello nitromiles,

    Wow… “the man, the myth, the legend: @TTrumble!!”…

    Boy have I got YOU fooled! LOL πŸ˜€

    Actually starting with the builder’s lender and switching to NACA is very commonplace.

    Just FYI even though my crystal ball has been in the shop for a while, these amazingly low rates we are seeing right now should stick around for the rest of the year by all expectations. You should be in pretty good shape. Remember that in the NACA program your rate locks in at the point you submit your bank application and be mindful as your journey continues.

    Tim Trumble
    Online Operations, NACA
    ttrumble@naca.com

    in reply to: Differing Closing Dates on Bank Statements #71053
    TTrumble
    Member

    Hello pvrosales,

    I’m afraid that you are describing a common problem that doesn’t actually exist. Don’t take this the wrong way, but the real issue here is the inconsistency of when you pay bills and transfer funds.

    As you noted yourself, “sometimes I make these transfers before the 8th or after the 8th”. The real solution here is developing the habit of consistently doing this before the 8th or after the 8th each and every month. Then you get consistent results month to month regardless of the closing date on any given account.

    Doing so will also demonstrate a higher level of financial discipline, which is a key element in showing that you are ready for the responsibility of homeownership.

    The old saying goes, “the simplest solution is the best solution”. So instead of dealing with reworked account statements, spreadsheets and LOE’s, just develop the habit of taking care of the bills and transfers on a consistent date each month.

    Tim Trumble
    Online Operations, NACA
    ttrumble@naca.com

    in reply to: Builder doesnt want to use different title company #71052
    TTrumble
    Member

    Hello Prof1914,

    Most likely regarding those “recent NACA closings”, the builder managed to convince the buyer to use the banned title firm and probably didn’t disclose that the buyer has the right in Maryland to choose the closing agent.

    As such, they may have convinced a NACA buyer that they had no other alternative and the buyer forced us to use them to comply with the law. Just to make it clear, it wouldn’t have been a matter of our giving the permission, but simply NACA’s adherence to the law. They may have done a NACA closing recently, but it would have been with very begrudging permission just so we stay within legal boundaries. Sadly, somebody wound up paying what normally would have been already-covered closing costs for the closing agent.

    Of course they are playing games to try and wear you out. “Their” lender is a major profit center for them, even with the “incentives”, which are themselves a profit center if purchased outside the incentive package.

    The bottom line is that YOU have the final say. That being the case, keep fighting and negotiating with them. This should be a rare opportunity to have your cake and eat it too.

    Tim Trumble
    Online Operations, NACA
    ttrumble@naca.com

    in reply to: Paying debt @ closing #71050
    TTrumble
    Member

    Hello dayna,

    Your NACA loan may only be used for the purchase of and repairs/rehab for your home. No other expenses or obligations can be included.

    Tim Trumble
    Online Operations, NACA
    ttrumble@naca.com

    in reply to: Voter Registration Upload #71001
    TTrumble
    Member

    Hello dayna,

    Simply bring it to your counselor’s attention. He or she can correct things on this end.

    Tim Trumble
    Online Operations, NACA
    ttrumble@naca.com

    in reply to: Web File Status Problems #71000
    TTrumble
    Member

    Hello RAnthony,

    If you are still having those same problems, please email me some screenshots showing me what is happening and I’ll see what I can do for you.

    Tim Trumble
    Online Operations, NACA
    ttrumble@naca.com

    in reply to: Can you save progress on the Webfile? #70999
    TTrumble
    Member

    Hello TexasGirl,

    You should allow 24 hours for your document upload to fully process through the NACA Lynx system. There is no “save” action needed, just a little time, especially if you have uploaded a larger group of documents.

    Tim Trumble
    Online Operations, NACA
    ttrumble@naca.com

Viewing 15 posts - 46 through 60 (of 6,777 total)
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