Few Questions before Intake

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  • #42799

    Hi All,
    Its a pleasure and very helpful to read through these threads to prepare me for what is ahead.

    Questions:
    1. Do I only need to upload all active credit cards with a balance or need to upload all credit cards balance or no balance?
    2. If my desired payment shock amount is being used towards paying down debt, will that count towards it?
    3. Is graduated extended acceptable for student loan standing payment? It is not a zero dollar amount, it is similar to income based.
    4. If I see a grant program for my state but NACA is not listed, is there a way to have NACA inquire about being a lender?

    Thank you in advance

    #42827
    TTrumble
    Member

    Hello Anxioushomebuyer,

    1 – We have a saying around here, “Better 20 pages too many than 1 too few”. In other words, if there’s ever a question as to whether or not you should submit a document, the answer is always yes, submit it. Go ahead and send the ones with no balance as will as they will help to make sure the information we receive on your credit report is accurate.

    2 – You will need to discuss that with your counselor and be able to show exactly where the funds are going. That being the case, you should be able to count it toward Payment Shock.

    3 – The Graduated Extended plan should be acceptable as long as you have the figures in writing from the servicer and not just a printout from an online calculator, etc.

    4 – Consult with your local office manager on this. Programs, their requirements and eligibility can vary dramatically from place to place. He or she may already be familiar with the program and can give you specific information. You may even find out that the program already does work with NACA even though we’re not listed on their website, etc.

    Tim Trumble
    Online Operations, NACA
    @naca.com">ttrumble@naca.com

    • This reply was modified 2 years, 1 month ago by TTrumble.
    #42945

    Thank you Tim!

    Tomorrow is my intake meeting, 6 weeks early! Yay! I am ready to get this process going!

    #42977
    TTrumble
    Member

    Hello Anxioushomebuyer,

    Feel free to update us on how it went!

    Tim Trumble
    Online Operations, NACA
    @naca.com">ttrumble@naca.com

    #43121

    Hi Tim,

    Been busy with work, but my meeting went well. I have to complete 3 month payment shock and provide some paperwork (LOE, voters card and wait for my verification of rental and employment). We dicussed the payment shock as being counted for of the extra payment I made to debt. I have time this week to get the paper work I need to complete and follow-up on the verification. I am ready to get qualified. 🙂

    #43201
    TTrumble
    Member

    Hello Anxioushomebuyer,

    It definitely sounds like the appointment went well! You no doubt went in well prepared. Make sure you stay focused on completing the items on your Action Plan and don’t forget you can always come to the Forum if you need additional advice and help.

    Tim Trumble
    Online Operations, NACA
    @naca.com">ttrumble@naca.com

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