Please do not bypass posting on this Forum…

Hello Members and Forum Visitors,

As many of you are aware, we created a new version of the NACA Forum roughly two months ago after experiencing significant problems with the old version during a system upgrade. Since that time, a phenomenon has occurred that I have to ask our Forum members and visitors to please stop doing.

The previous version of the Forum included the ability to send personal messages and e-mails to other members, a feature which the new version does not have. As a result, I have included my e-mail address in my Forum signature so members will be able to reach me directly when I have advised them to do so. However, several people, especially new visitors to the Forum, have bypassed the Forum completely and e-mailed me directly instead of posting their questions or concerns here on the Forum.

Please understand that this practice defeats one of the key purposes of the Forum, to help NACA members share their experiences and learn from each other. As unusual as your concerns may seem, it is very probable that other NACA members are experiencing something very similar to you. Many of your questions are in fact far more generic than you may think. By sharing the information through the Forum, we are able to help educate everyone who comes to the Forum either as a member or visitor, making it possible to maximize the effectiveness of the advice and direction we give our members.

While most of the e-mails I have received have started out with very kind comments like, “I saw your e-mail address in the forum, and you seem so helpful…”, YOU can be of great help by not bypassing this Forum and allowing us to help as many members as possible through this medium.

Please remember to NEVER post any personal information in the Forum, including your NACA ID number. Should your question require a review of your file for specific information, you will be asked to e-mail your name and ID number at that point in time. We also keep a database of our Forum members, so once we have that information, we will have it available for future reference if needed.

Once a direct e-mail correspondence has started, we will continue to communicate that way to protect your personal information and details of your file.

I’m sure everyone is aware just how massive the demand is for NACA’s services in both our Purchase and Home Save programs. By making use of this Forum to share questions and experiences we can help the most people possible whether they are attempting to save their home or become new homeowners.

Thanks!

Tim Trumble
Online Operations, NACA
ttrumble@naca.com

This entry was posted in Uncategorized. Bookmark the permalink. Follow any comments here with the RSS feed for this post. Post a comment or leave a trackback: Trackback URL.

34 Comments

  1. PattyValue
    Posted July 19, 2012 at 5:04 pm | Permalink

    Where and when can my appraisers take the class to become NACA certified appraisers? We are in southern CA.

    • Posted July 19, 2012 at 6:35 pm | Permalink

      Please contact our Los Angeles Office at 310-412-2600 for information on how to become a NACA certified appriaser.

      Tim Trumble
      Online Operations, NACA
      ttrumble@naca.com

  2. jacknthebox
    Posted August 13, 2012 at 4:07 pm | Permalink

    I am a first time homebuyer. I applied for NACA back in April 2012 and its now August 2012 (in pre qualification). I learned about Naca after I was pre-approved with a 203k Mortgage Lender. I didn’t continue the process with the lender because the fees and closing cost was over $21k. I rather put that money back into repairing the house.

    My main question is about the HANDS program that is offered at NACA. Is there any requirements? Does it operate as HUD 203k rehab loans? Can I demolish the home and keep the foundation with NACA Hands program?

    I heard other people is doing this and I want to know how can I go abou it? Is this soemthing Naca know how to do?

    • Posted August 13, 2012 at 7:10 pm | Permalink

      Hello jacknthebox,

      The HAND (Home And Neighborhood Development) department is in no way related to the FHA 203k loan program. Funds for repairs or upgrades to the home are included in the mortgage itself. The program only allows for repairs and certain types of upgrades to the existing home. You may not use the funds to demolish the home arnd rebuild on the same foundation.

      Every home sold through the NACA Purchase Program will be inspected and repairs/upgrades made as a part of the pruchase of the home. Therefore, every home is cleared through the HAND department before the mortgage is closed. Your Mortgage consultant can give you more specifics at your next meeting.

      Tim Trumble
      Online Operations, NACA
      ttrumble@naca.com

  3. rufuspaigel
    Posted September 1, 2012 at 7:10 pm | Permalink

    I heard that some banks are waiting three years instead of two years after bankruptcy before financing a home. How many years do you have to wait using NACA after bankruptcy? How many years after a foreclosure?

    • Posted September 4, 2012 at 8:14 am | Permalink

      Hello rufuspaigel,

      It will be two years until you can close on another home, but you can begin the NACA program as early as one year after the bankruptcy discharge so you will be ready as soon as the two year mark passes.

      Tim Trumble
      Online Operations, NACA
      ttrumble@naca.com

  4. rafiqa
    Posted September 9, 2012 at 12:41 pm | Permalink

    i owned a complex and lost it back in 2008. when it was hard to sale at market value. complex went back to the lender. i would really like to appeal to bruce marks and assoc. to consider a person in my situation. to help me re-purchase commercial multi-famaily units (50+) program that would really help commerical investors who have lost a complex. i know i am not buy myself. we need help too. thank you.

  5. libertykelly
    Posted September 18, 2012 at 4:29 pm | Permalink

    Can you help me. I was two years in the loan modification process and witness with full documentation the fraud by Wells Fargo Mortgage. Went to my Congressman Office who contacted the President of Wells Fargo Office and forwarded my file (after 7 months of working together) to the LA County Real Estate Fraud Division. After their review of my documentation urged that I file a claim with the Office of Comptroller of Currency and find a good attorney. While in this process with the LA County Real Estate Fraud Division and active claim with the OCC the lender foreclosed. Gave me 1 hour notice. This was my home. I am now 66 years old and had lived in this home since the age of 9. I have been living out of a suitcase since last november. Wells Fargo wanted my house because it had a small mortgage and sold for a large profit to them. I received nothing from their profit. They just strung me along never intending to modify my loan. Looking for a Contingency Law firm to represent me in my loss. 850 pages of detailed documentation, would love to go in front of Congress to show them just how the shell game is play. I have them nailed to the cross with documentation.

    • Posted September 18, 2012 at 5:12 pm | Permalink

      Hello libertykelly,

      Thenk you for your message. We are truly sorry to hear that you lost your lifelong home. However, NACA is not qualified to give legal advice nor can we recommend an attorney for you to work with. You may want to contact your County Legal Aid Society for help. Also your State Bar Association will have a lawyer referral service to potentially help you find someone who will take your case on contingency.

      You should also continue to work with the LA County Real Estate Fraud Division and also contact the California Attorney General’s Office to pursue a possible fraud complaint as well.

      If by some chance the foreclsoure process was started BEFORE the end of 2010, you may also qualify for the Independent Foreclosure Review process. You can call the NACA IFR Hotline at 801-401-6222 for more information.

      And of course you should contact your Congressional representative to inform them of your situation as well and request an investigation.

      The most improtant point is to be absoutely relentless and not give up in seeking justice for what has happened to you. I wish you the best!

      Tim Trumble
      Online Operations, NACA
      ttrumble@naca.com

  6. libertykelly
    Posted September 18, 2012 at 6:34 pm | Permalink

    Tim,
    Thank you for your quick reply. In response to your suggestions: My claim has been open with the OCC since June of last year, before the foreclosure. I call every two weeks and they just give you the run around. As for the Independent Foreclosure review, well they have had my 850 pages of documentation since February 2012 and they are like a Chevy Chase comedy. I call them every two weeks and get the paid for phone services that gives you their script of “the work load is tremendouse but you will have an answer soon.” First they said April, then it was July, then it was September and now it is December. My Congressman sent my file to Washington DC last May 2011 at the same time they sent it to the LACounty Real Estate Fraud Division. Where in Washington DC? They just said to their main office. LA County Real Estate Fraud Division now consider the case closed, yet they gave me referrels to Legal Aid the whole time during the modification because they saw what was going on, as did I. The Legal Aid is yet another joke for the books, no help. I have called every Bar Association in Southern California, yet again no help. Please note: I went to the NACA Convention in Los Angeles during this process and spent 37 hours sleeping on floors, had a diabetic convulsion in which your people came to my aide and were very pleasant as well as efficient. After 37 hours was told that my documentation was great however my file was blocked because it had been sent to the President of Wells Fargos desk. Special note: This is were the fraud is well documented and were the fraud is the deepest, almost like a dark movie it is so plain and visible. Please send this to Bruce Mark, he will may be have some other ideas. I have talked to attorneys in California and Nevada am getting tired but do not plan on giving up. The story includes having a heart attack plus many medical issues not to mention the loss of my in home office and business of 18 years with loss of my all income. Please advise.

  7. libertykelly
    Posted September 18, 2012 at 7:31 pm | Permalink

    Tim,
    In addition, I deglected to state that when beginning my modification process it started by being prequalifed by HUD for the HAMP modification. They, stand behind me 100% and have offered to stand in front of Congress or any court of law on my hehalf. They were in constant contact with me thru the whole process. Also, one individual in the process with Wells Fargo confided with me that they would not give me the HAMP modification because they could not make enough money on me and it was to their advantage to foreclose. His name was Ken Hess, all documented.
    Liberty Kelly

  8. kris
    Posted September 20, 2012 at 5:26 pm | Permalink

    I am here because I am in loan mod hell. I’ve been trying for two years to get a HAMP loan modification with Indy Mac/ One West. I’ve been scammed by a thrid party loan mod attorney after becoming discouraged with the process. Now I’m working with the Fannoe Mae help center and I’m feeling like there is no end in sight. I accepted a Fannie Mae Alternative Trial Payment Program because I could not get an answer on HAMP and the Fannie Mae program was presented in such a way that if I did not take it, it would not be offered again. The difference between what (I think) HAMP will be and the Fannie Mae alternative payment is about $500. Then I was denied HAMP becuase I was in the trial payment plan with the other “work out plan”. Now they say they are trying to determine if I can even apply for HAMP or be reviewed if I’m in the other program. There is no way to tell if I can really get HAMP, I’ve looked everywhere and tried to figure out what I could… based on my income, my home value, etc. Its a crap shoot and I feel so stuck. I thought I was a good candidate for HAMP, but there is so much I don’t know, its not as easy as just figuring out your 31% payment. My scam loan mod people advised me to stop paying the mortgage, and go into foreclosure, “the bank will negotiate with us that way”…. but they never worked on a loan mod, it went down to the eleventh hour with a trusteee sale and they said the only way to stop the sale of my house was to file BK, of course they happily offered to do that for me for more thousands of dollars. I have no idea who really has my best interest at heart. Certainly not the bank, the crazy stuff they’ve done would be too much to tell. Who is my advocate? Who can tell me if I really can get HAMP or not? Then I could make an informed decision about the other offer. What do other people do to keep their house and find an affordable mortgage when they’ve exhausted these options? I don’t think I can handle much more disappointment. I’ve gone from a size 12 to 4, I can’t eat, my hair is falling out, I can’t sleep and no one has my back. Ii just have to keep sending more an dmore documents and I’ve never any closer to a decision. I’ve never gotten an official denial with real answers. Any help would be appreciated.

    • Posted September 20, 2012 at 6:55 pm | Permalink

      Hello kris,

      Thanks for the message. Even with the story you have told here, there isn’t much I can provide in the way of specific answers. However, there are two things I can address here:

      1) You seem to be far too focused on a HAMP modification when that is not necessarily the best modification option for you. Just because HAMP is what people have heard about in the news, many homeowners mistakenly think it is the only type or automatically the best type of modification. NACA generally seeks a “traditional” modification where the interest rate is reduced to the lowest amount possible permanently rather than the step rate plan that kicks in after the first five years of a HAMP modification.

      2) Trying to determine in advance what sort of modification you will get is a guaranteed exercise in futility. There is no way of telling in advance what sort of modification you may qualify for, or if you qualify at all, until you submit a proposal to your lender.

      To answer nearly all of your other questions, we would need to create a NACA file and work on a budget and proposal for you, which we could then compare to the offer you have now using the information we would gather in the process.

      The one thing that you would not have to worry about is any sort of fee. The NACA Home Save program is absolutely free of charge. In fact no one should ever pay for a mortgage modification, period. A fee for that service is the surest sign of a scam.

      We will be happy to work with you if you so desire. To begin, please go to our website at http://www.naca.com and click on the blue “Home Save” button. You can register and begin the process there.

      Please feel free to contact me at the email address below with any additional questions you may have.

      Tim Trumble
      Online Operations, NACA
      ttrumble@naca.com

  9. libertykelly
    Posted September 21, 2012 at 4:54 pm | Permalink

    Hello Kris
    This is Liberty Kelly and I ssssssssssssssssooo know what you are going thru, my heart goes out to you. Please read my story that was posted. NACA is a great organization however your lender will not work with you directly if they know you are with NACA. Wells Fargo refused to work directly with me when I told them I was with NACA and put me direclty into foreclosure. Note this was their 7th attempt at Foreclosure out of 12 attempts. You will be forced to choose one or the other not both. Tim Trumble’s reply was well meaning with his reply as he was with my reply.

    The whold game is rigged against the homeowner, a real shell game. NACA is great but limited as to the dark side of these lenders. They will lead you on so as to create more fees for them while making you go crazy. I too lost a great deal of hair, convulsions and heart attack from the stress of it all………………………..and no one will/would/could help me. Good Luck.

  10. Miss A.
    Posted October 16, 2012 at 6:08 pm | Permalink

    Hello:

    This morning, I had a phone conference with NACA to review the paperwork I need to work on getting my loan modification. All was settled as to what I need to fax in. Then later today, I received a phone call from a representative from IndyMac/OneWest asking for the same paperwork. I let him know that I already spoke to NACA and discussed sending the information to your organization.

    He told me that NACA was a non-profit that can’t approve to get me a moficiation (which I already know). He also that that I should send the paperwork directly to IndyMac since NACA may not get the paperwork in time. So far, NACA has been great in receiving my paperwork and responding to me in a timely matter. When I tried to work directly with IndyMac in the past, they were anything but responsive and intitally denied my modificaiton.

    I have thoroughly been reviewing many blogs with NACA to become more knowledgeable and one thing I understood is that if it is not from the NACA receiver from the NACA website, then it’s not relevant. I am truly concerned about the bully tactics IndyMac is using to discourage me from using your services. When I came to the Los Angeles Convetion Center, I was hopeful that a plan was in order and that I would not be receiving calls from IndyMac trying to bully me into sending them paperwork directly.

    If I am incorrect with dealing with IndyMac, please advise, it just seems like double work to send paperwork through two sources. I am hoping the modification can be resolved in a timely matter. I am going to e-mail the required paperwork in the morning to move forward with the process.

    I appreciate all that NACA is doing so far, and hoping that I stand correct that I should ONLY be dealing with your organization and not directly with IndyMac.

    • Posted October 17, 2012 at 8:28 am | Permalink

      Hello Miss A.

      You are absolutely correct. Any contact you receive directly from your servicer has nothing to do with your NACA file. Our contract with them requires that all communication regarding your NACA proposal must be made through your NACA file.

      If they have asked you directly for documents, the request is coming from a different department that has nothing to do with your NACA file. By sending them documents directly, you will create a separate file that is not associated with your NACA proposal and that NACA cannot help you with.

      This is a classic example of how big and unwieldy the banks have become, and how the left hand doesn’t know what the right hand is doing, The easy way to remember how to handle this sort of thing is , “If it’s not IN your NACA file, it’s not ABOUT your NACA file”.

      Tim Trumble
      Online Operations, NACA
      Ttrumble@naca.com

  11. Tammy
    Posted October 17, 2012 at 1:34 pm | Permalink

    Really hoping NACA can help me with Wells Fargo. I received a permanent mod from Wells Fargo in 2010 down to 2 percent for 5 years – 9 years left on the loan. The reason I’m seeking another modification (to hopefully a longer term to lower the payments) is because I have a second mortgage with HSBC at 14 percent and the temporary modifications over the last 2 years are not being renewed. I can’t afford both mortgages now and HSBC won’t modify or accept anything less than a full payment. Has NACA every or will they ever work with second mortgage companies? Any ideas on any program that HSBC works with? So far, they are not participating in any government programs. Also, what’s your experience with underwater (or mostly underwater) second mortgage forclosures? Wells Fargo has told me they would step in before they let HSBC foreclosure on a second where Wells Fargo holds the first. Is this true?

    • Posted October 17, 2012 at 4:55 pm | Permalink

      Hello Tammy,

      Forgive me for stating the obvious, but you are in an unusual and difficult situation. Unless you are already past due, your first option right now would be to look at refinancing. That way you could likely combine both the first and second into a reasonable fixed rate (around 3.5% – 3.75%) and extend the term back out to a full 30 years. It is much more difficult to get a modification if you are not past due, so talking to Wells Fargo or any other major lender about a re-fi under the HARP (Home Affordable Refinance Program) would be your first option.

      If you are already past due, NACA can create and submit a proposal to Wells Fargo for a new modification. However, you are automatically excluded from another HAMP modification since only one HAMP restructure can be done per loan. You would be looking at a “traditional” modification, and the potential for another modification would be totally dependent on the investor’s guidelines. The only way to find out what, if anything, can be done is to submit a new proposal.

      Unfortunately, NACA cannot work on a second mortgage or HELOC when it is with a different servicer from the first loan. That and the fact that HSBC is notoriously difficult to work with also suggests that a re-fi is your best option.

      The up side is that if you are underwater as you state, HSBC will almost certainly write off the loan rather than foreclose. The reason for that is the fact that the Wells Fargo loan takes precedence over the HSBC loan in receiving any proceeds from a foreclosure sale. In other words, if HSBC were to foreclose, they would have to pay off the Wells Fargo loan before they could recover any funds on their loan. HSBC would most likely lose tens of thousands of dollars in a foreclosure. It would probably be less costly for them to write off the loan as uncollectible since it is irrevocably subordinate to the Wells Fargo loan.

      I’m sorry I cannot be more positive in my response, but if you do wish to attempt a second modification on the Wells Fargo loan, we will be happy to work with you. Regardless of how you decide to proceed, I wish you the best!

      Tim Trumble
      Online Operations, NACA
      ttrumble@naca.com

      • Tammy
        Posted October 18, 2012 at 12:32 pm | Permalink

        Thanks for your reply Tim. My first modification with WF was an inhouse modification. We did not qualify for HAMP. HAMP won’t refinance the second mortgage, only the first. A traditional refinance is not possible because the loan value would be almost 100% with both mortgages combined. I would love to refinance both into one low rate for 30 years, but no one is doing that for 100% or underwater loans – only 80%.

        Do you know if I jeapordize my modification with Wells if I fall behind a little waiting on this or does permanent mean permanent. I was thinking they might be more willing to work with me if I was behind – and that would allow me to catch up a little with HSBC.

        I’m almost at 180 days with HSBC – and not sure what to do. Home prices are so varied in my area, similar homes are going for anywhere from 95k to 200k. Realtors seem to put me around 135-155k and we owe wells fargo 113k, hsbc 39k – which totals our mortgages to 152k. While most people tell me they probably won’t foreclose – my state favors mortgage companies. – Georgia allows for a non-judicial foreclosure and recourse loans.

        IF HSBC does decide to foreclose after they write off would we have an opportunity to work something out? What are the chances WF would pay off HSBC or settle with them? What are the chances I could settle with HSBC collections after the write-off? If HSBC files for foreclosure, would we be able to stop it by paying the past due amount or would we have to pay the entire loan at that point to stop it?

        I’m really hoping WF sees the advantage for them to either extend the term – they’d make more money that way too. I’m not looking to make money on this, and I’d really just like to be able to pay my mortgage at an affordable interest rate.

        Thansk for your help!

        Tammy

  12. nitanek
    Posted October 18, 2012 at 11:28 am | Permalink

    Hi Mr. Trumble
    I post my question on your forum instead of emailing you since you advices to do on the forum. I don’t see my question anywhere in the forum and I m new to the forum. Please advice. Thanks

  13. Tammy
    Posted October 18, 2012 at 12:36 pm | Permalink

    One more thing Tim:
    We don’t qualify for Harp because the HSBC loan is not guaranteed by Freddie or Fannie.
    Tammy

  14. Denise
    Posted November 29, 2012 at 1:46 am | Permalink

    I have been trying to get a modification from my bank since march 2012.  At that time my mortgage was late but current. I used a “authonery I heard on the radio advertisement. I explained my financial situation and he said he could help for a fee of course.  Desperately when our taxes were done we paid 2500.00.  I had loss my part time job which was a great supplement to my household income. As the months go by I struggled to keep current. This attorney had submited my app for modification to my bank in May. The bank has denied the modification, with each denial he would submit the app again. We even complained to OCS. Which I didn’t see where they helped. Now we have been delinquent and has a pre- foreclouse letter to pay the past 2 months delinquent payments. This attorney I started having my doubts him and accepted the fact that we were scammed. I just noticed odd things about him, most communications was by email, I was calling him or emailing him asking for updates on the modification. Presently my bank has another submission he sent in ans I know for a fact because the bank called me asking for my taxes, which just verified that this attorney wasn’t legit. Because the bank sends me letters and he said to fax them to him. So I glance over them and fax them but this last letter asked for my taxes and he’ didn’t tell me to send them to him. So I faxed them to the bank myself because they said that was all they needed now.  Now this attorney wants to remove my salary from the modification app and say I am not working to try and get approved?i told him how can you do this they know I work I have been sending pay stubs to them? To put the icing on the cake they ask me to write a letter saying I am unemployed but I just sent them my pay stubs on the 15th on this month. Do I want to go to jail now when they call my job to verify my employment?  This is not a joke I have all my emails and considering filing something with the attorney general, this shouldn’t be allowed to take advantage of people.  So Shame on me for that mistake. Now since this pre forecloure letter I am looking to work with NACA or any other help available. I question is my parents who lived in the south had a house and they died. The house was given to me. It has been abandon for years but I pays the taxes. The house do not value 1000.00 and not livable. I think I keep it for sentimental reasons. If I could have sold it to help me I would have ans if we have to move we couldn’t move there to live in it.  I don’t consider this a property of any value and I see  NACA says you can have only 1 property. Would I be able to get help from NACA? If you or anyone have guidance please I welcome all. 

    • Posted November 29, 2012 at 11:25 am | Permalink

      Hello Denise,

      Your ordeal in dealing with the attorney is a story we hear far too often. The fact is that attorneys and other companies that charge a fee rarely do more than shuffle documents between you and the bank, then charge you a large fee for doing nothing more than you could have done yourself. It is why we are continually telling people to never pay anyone for a mortgage modification. If someone is charging you for their services, they are not HUD certified for housing counseling. Additionally, they will not have the nearly 25-year history of advocacy, fighting for homeowners as NACA has done.

      Your statement, “Now this attorney wants to remove my salary from the modification app and say I am not working to try and get approved” is quite shocking because that would indeed be mortgage fraud. We are truly sorry you fell victim to a scheme that cost you so much money but never gets any results.

      The good news is that NACA is able to work with you on a modification. The rules regarding second properties have relaxed a bit recently. As long as the property you are seeking the modification for is your primary place of residence, we are now able to work with you even though you own a second property. The second property restriction was preventing too many people from getting the help they needed, so the policies have been eased.

      If you have not done so already, you may create your NACA file by going to our website at http://www.naca.com and clicking on the blue “Home Save” button to start the process.

      If you are not close to any of our scheduled American Dream Events, we will do the entire process remotely by telephone, fax and internet. Plus, NACA has working agreements with banks representing roughly 90% of mortgages in the United States, which creates a standard, consistent modification process that results in a much higher success rate for our members.

      And our services are absolutely free of charge.

      When you go to the website to establish your file, you will find out what documents we will need, how to submit them to us and how to set up your counseling appointment so a proposal can be created and submitted to the bank.

      I wish you the best in your efforts to save your home!

      Tim Trumble
      Online Operations, NACA
      ttrumble@naca.com

  15. hotluvy
    Posted December 17, 2012 at 9:37 am | Permalink

    I have started the paperwork with national remedy. Have you heard of this company?Are they reliable? They do charge closing costs and offer payment plans. But I have nothing saying that after I make these payments I will have the modification. I am very behind in my payments and I have 2 loans from different banks. I don’t know who to trust and definitely don’t want to loose my money especially if I have to borrow it to pay it.

    • Posted December 17, 2012 at 10:11 am | Permalink

      Hello hotluvy,

      You should NEVER pay anyone to get you a mortgage modifiation!

      If they are charging you for their services, it automatically means that they are not a HUD certified housing counseling agency. Additionally, we have never seen ANY of these companies actually get a modification for a homeowner. Many of these operations are in fact outright scams. At best, they will probably do nothing more than take your documents and fax them to your servicer, which you could easly have done for yourself. They will not have the nearly 25-year history of advocacy that NACA has, nor will they have the legally binding agreements that NACA has with the major lenders.

      It is a virtual certainty that you will throw away your money working with any organization that charges for their services in helping you get a mortgage modification.

      Tim Trumble
      Online Operations, NACA
      ttrumble@naca.com

  16. hotluvy
    Posted December 17, 2012 at 11:07 am | Permalink

    Because I waited more then 5 days to cancel now they are charging me a penalty fee. That’s what happens when you don’t research companies:(

  17. LaVard Merrett
    Posted December 23, 2012 at 8:49 am | Permalink

    I received a chapter 7 discharge on July 2010. The home was not reaffirmed, however, the deed was still in my name. Waiting months on the foreclosure to occur, I decide to short sale the home which was final on December 2012. Can NACA help me purchase a home now that over two years have past since my discharge or will the short sale reset the clock? Thank You.

    • Posted December 26, 2012 at 9:01 am | Permalink

      Hello LaVard Merrett,

      I’m afraid the short sale does indeed reset the clock on how long you will have to wait to buy another home. Now that the short sale is complete, create a 12 month history of on time payment going forward, then you can begin to work with NACA on qualifying to buy again.

      Tim Trumble
      Online Operations, NACA
      ttrumble@naca.com

  18. Sonji Gardner
    Posted December 26, 2012 at 6:47 pm | Permalink

    Hi,
    I’ve recently received a proposal from my servicer through my file on the NACA website. I would like to say yes to the offer, for it does look really good. However, I am confused about some of the terms used on site. For example, at the top of the page the info says “NACA Restructure”, then in the comments section from the Servicer, the information says “HAMP Trial Modification”. Is this information one and the same, or am I being tricked? I surely don’t want to blow a great opportunity, but we all know also that you can only apply for the HAMP program once a year. I am on restricted time, because the servicer is requesting that I send in my first payment “Certified Funds” before the 31st.
    They sent me the proposal on the 21st not allowing me enough time to speak with a representative during these strange high volume Holiday hours. I was on hold for more than 4 hours today, then the call was dropped. I called again, but it was not enough time before the office closed.
    Please Help!
    Thank You

    • Posted December 29, 2012 at 11:25 am | Permalink

      Hello Sonji Gardner,

      Please refer to the email you have been sent, which will clarify the details of the excellent modification offer you received.

      Tim Trumble
      Online Operations, NACA
      ttrumble@naca.com

  19. Tiffany
    Posted January 19, 2016 at 11:24 am | Permalink

    Hello. I got my discharge from chapter 7 back in October 2014 so it has been a little over a year. I see where it has to be 2 years before I can close. Would it be okay to go ahead and attend a workshop now or should I wait a little longer? Also my husband has not filed a bankruptcy and has decent credit. Could he go ahead and get approved on his own? We have been throwing money down the drain renting for 2 years and lease is up in 2 months. Would like to sign month to month and buy asap. Any advice? Thank you

    • Posted January 19, 2016 at 3:54 pm | Permalink

      Hello Tiffany,

      All sources of income and all adult members of the household are taken into consideration during the NACA process. While you will not be able to close on a new home before October 2016, attending a workshop sometime in the near future is not a bad idea so you can get familiar with the process and have everything ready to go once you hit the two year mark.

      Tim Trumble
      Online Operations, NACA
      ttrumble@naca.com

  20. Zowi
    Posted April 22, 2016 at 4:35 pm | Permalink

    Hello,

    I am in the process of signing with NACA in MN.

    1) I have questions regarding Voters Registration. I have a PDF print out from my state website confirming I am registered to vote and I am wondering would that be sufficient?

    2) How soon should I start employee verification request? My second appointment is not until June 2016 and I am thinking of contacting them to have early schedule if they have cancellation.

    3) If I take on contract to hire position, would that automatically disqualify me? I have an MBA and finally found a job that is aligned with my educational background.

    Thank you

    • Posted April 25, 2016 at 11:51 am | Permalink

      Hello Zowi,

      Verification of voter registration as you describe should be adequate. Simply submit it to your file with your other documents.

      Verification of Employment should be done ASAP. Establishing the employment history cannot be done too soon. As long as there is not a gap in employment of 30 or more days, the transfer of contract to hire should not be an issue. You will have to write a Letter of Explanation and will also have to provide a copy of the offer of employment from the new employer.

      Tim Trumble
      Online Operations, NACA
      ttrumble@naca.com

Leave a Reply

Your email address will not be published. Required fields are marked *

Follow us on Facebook RSS Feed Follow us on Twitter