First Intake Tomorrow but Worried

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  • #48291
    Survivor
    Member

    I have my intake tomorrow but a few things I thought of and are having issues with still. Now, I am not able to get to a phone as easily as some other humans, so I need to post these here because when I am home, all lines are closed. And funny how these days, no one will let you borrow theirs because they need them on their breaks for chatting with friends or people they having affairs with. I miss payphones.

    1 > The bloody, poorly designed website can not upload my documents. It is not me and I am sick of them NACA people saying it is. I tried different formats. Different computers. Different towns. Different browsers. Different IPs. VPN and non-VPN. Corp and non-corp networks. It is NOT ME! They said I have to come in early (meaning leave work early to use their system which is supposedly going to scan my documents directly into my account. Right, as if that will be 100% perfect.
    The website’s “suggestion/complaints” form still dos not work, and no one has responded from emails to NACA or the offline chat messages left.

    2 > Tax transcripts. The IRS is not giving them to me. Two ways to verify. Text (as if we all can afford them fancy mobile things) or wait in the mail for a code to enter online. Okay, I did the code. Two weeks later it comes in. I go online and it wanted to call my home phone to verify. Well, it failed three times and said I sued up my chances. Text is only option. Well, I do not have such affordable privileges. I access IRS chat which took 2h to find. Three reps disconnected from me because they refuse to assist.

    3 > Savings account. I do not have one. Is this a problem for tomorrow?

    4 > Tonight am going over finances with my personal financial advisor and converting my old 401k from my old job into an IRA, or something. Is this a problem for tomorrow?

    Thoughts? I got 24h and I can not afford to cancel and reschedule, because, then I lose more work pay.

    Thank you.

    #48315
    Survivor
    Member

    Hmmmm…
    I do not even have the rental papers they say, from the booklet, they want.
    Well, they better not give me problems when I go in today. Not my fault their customer support is inadequate. NACA’s website is poorly designed. The IRS refuses to assist me. NACA wants want some papers that just do not exist without causing me problems.
    They push me away today, I am not going to continue with NACA. I rather, in the future, spend more money than deal with stress.

    #48318
    TTrumble
    Member

    Hello Survivor,

    I’m not sure what the real issue for your extreme cynicism is, but you seem determined to thwart your own efforts.

    1 – The website is actually very well designed and in fact works just fine. We receive literally thousands of pages of documents on a daily basis. If you are struggling with the process, you can always ask a friend to help you with it

    2 – I’m afraid the statement “the IRS is not giving them to me” just doesn’t hold water. The IRS website notes that “If you’re unable to register or you prefer not to use Get Transcript Online, you may order a tax return transcript and/or a tax account transcript using Get Transcript by Mail or call 800-908-9946. Please allow 5 to 10 calendar days for delivery. You may also request any transcript type listed below by faxing/mailing Form 4506-T, Request for Transcript of Tax Return as instructed on the form.” Since all you have to do is call or mail in a form and they mail the transcript back to you, none of what you wrote is required to get the transcripts. It can be done completely low-tech.

    3 – All NACA ever requires is that you have a checking account, which is stated in your Qualification Workbook. A savings account is nice to have, but by no means a requirement. The simpler the better when it comes to bank accounts. One account is not a problem.

    4 – Rolling over an old 401k to an IRA (probably a Roth IRA) is a good idea period. The rollover won’t cause any issues. Just make sure the transfer is well documented, and make sure the IRA will allow you to withdraw the funds needed if you are going to use part of it for MRF.

    Regarding the “rental papers” you refer to, once again, something doesn’t make sense. As your workbook notes ” Your current landlord can verify payments by completing a NACA Rental Verification Form (obtained from NACA), or you can provide NACA with a copy of the lease agreement and twelve months of cancelled checks or other documentation such as copies of the money orders with a matching bank statement withdrawal.” Even if your current lease agreement was done on a handshake, the Verification of Rental (VOR) form that your counselor will help you with during the appointment will take care of what you need.

    The “Right, as if that will be 100% perfect” comment regarding the in-office kiosks we have available for our members to upload documents on-site was made completely without any actual knowledge of the system, but on an unfounded presumption of failure that in fact runs throughout your posts.

    The fact is that there are a lot of people who actually want you to succeed at this and are more than willing to help you in whatever way you need. Tens of thousands of people have purchased homes through NACA, and they all had the same requirements that you have. Not having a smart phone, struggling with uploads and trying to shift blame to the website, Member Services or whatever have nothing to do with it. The attitude you have when you walk in that door is what will make the difference for you more than all the other possible issues combined.

    You are the biggest single factor in whether or not you succeed, and how quickly you succeed in the NACA process. There WILL be bumps in the road along the way, and how you deal with them will make all the difference. This process requires patience, persistence, determination and your full cooperation with your counselor and the other NACA staff people you will work with during the process. You will put in hours of work, but when you close on your home, you will have been through the best paying part-time job you will ever have because of the money you will save compared to any other mortgage product.

    The bottom line is that it’s up to you. Don’t shoot yourself in the foot. If you have a problem, there’s plenty of help available, starting with this Forum. Take advantage of it.

    Tim Trumble
    Online Operations, NACA
    ttrumble@naca.com

    #48319
    southflorida
    Member

    @Survivor NACA is a great program, I am talking from experience and I will always be thankful that I was able to buy my house that I would not have been able to afford otherwise. But, I understand that it’s not for everybody since you need a lot of patience, dedication, patience, determination, patience, not feeling entitled, patience, flexibility, etc. Did I say patience? Anyway, it depends on the priorities of the member, if you want to buy a house and you are willing to go through some bumps on the road and some stress, go for it. If you are not willing to go through the process, then maybe this program is not for you. All I can tell you is that at the end, all the issues are so worth it, at least for me, maybe for some people it’s not worth it, I guess it depends on personal preference and priorities.

    #48320
    Survivor
    Member

    Then I guess I have to walk out.

    1 > The website does not work for everyone. I had coworkers try with same issues. Again, it is not me if i tried with multiple computers, browses, IPs/locations. That complaints/suggestion page not worked in a month of me trying. So no, it does not work well.

    2 > I tried calling the IRS, ineffective. Again, they can not verify me now without texting abilities. They will no longer try doing it with me over the phone since their own methods failed. I prefer all things low tech as more efficient, but will not work unless people going to work with me. They will not send me anymore forms, claiming I can not be verified. I been through this for 2 weeks with them, and I had to deal with it and give up years ago with this same thing on verifying myself with them. I do not have that “online precense” or much about me in databases to be very well verified. Not matter if anyone believes me or not, but this is not stuff that can be easily made up. You think having a SSN and bank account and address and job be enough.

    3 > I can not remember everything I read. My ability to retain information is limited. Short term memory issues. But good to know, as I only got the one.

    4 > Good to know. I do not think I be using it for anything anyway in this process, if I got to go through it.

    If I get updated papers from the apartment complex, I will be stuck in a longer lease (not going to explain why, just trust me). I do not have any paperwork with me to support I rent in a complex.

    As far as knowing nothing is 100% technology perfect, is many decades of tech experience to know better. I do not need to see something personally to know it has a few dozen bugs in its code, aging circuitry, and in other cases, corrupted databases. I can go to a Home Depot and smell problems on their cash registers. Yes, nothing will be 100% perfect the moment you try using it. You take a chance, and believe me, my tech experiences combined with many, many fights with the TSA is such great examples (if I told you stories) on how tech does not work when you need it to, before you even get a chance to try it. They tell me “this will work” and I know, they are not Jesus and God is NOT in the tech business to make things perfect.

    South, I am particular about time and I got none to deal with “bumps.” If things do not work the way they should, I will not put in effort into issues I do not have time for. Like communications with NACA via email, no a single reply back. Live chat, a laugh. Phone calls? I have to be home for that, but that causes lose of work hours. No no, I am very well known to walk out of one place and get better results from another. I got no problem putting in work, but if the other side is not willing to do the same, I do not give them any more of my time. Both the doctors, and under strict laws by the government to me, I am not to be under any stress.

    Oh well. Hearts beating way too fast. Time to get offline and find another way.

    #48367
    Survivor
    Member

    Well, I did go that day because I did have the appointment and I am not that rude of a person, but it was just as worse as I thought.

    First, yes, the computers were down for me to scan in the stuff the website failed to do properly in the first place. I never, ever expect tech to work right. If it does, great. If not, I am not surprised. So, the counselor was kind to do it at her desk.

    She also agreed with me the website needs serious updating. Apparently, several documents I uploaded went missing. So, and thankfully I had 99% of my hard copies I knew to take, they all had to be rescanned. The one hard copy I did not have was an upload document explaining things and my situation in hopes when the counselor saw it before intake, would know some things. But, that did not happen.

    The next issue is my credit report. There are some charge offs of school loans from years ago that were in fact purchased/transferred to Fedloan. The counselor wants me to try and rectify that in (now less) 30 days. Really? I have tried for 5-6 years to already get the companies to fix that, and I am supposed to do that in 3 weeks when I have already failed for years on it? I still can not get Fedloan to cooperate with me now on giving me the information NACA wants for them to acknowledge. Already lost a week of trying to get just one thing from them out of a dozen.

    Save $400+ a month? Really? My rent is the highest thing I got. Most of the money spent is on kids (one with autism, one is crafty, and the other just hungry) and helping my exspouse. My money goes to them. Sure, I can save 400 if I stopped helping the ex with some of her bills so she is not evicted. Not like companies pay people much these days as everything else goes up in cost (and smaller in size). What else can I cut out? Nothing. I got a prepaid phone (~10 a month), electric (I do not even use hear as it is not cold enough here), water, two store charge cards that be paid off by summer. School loan (~90/month). ISP for 2M at 25/month. Gas for car. And food and supplies when needed. Really, 400? All I want is a small place that is quiet, away from humans/traffic/noise, and each kid has a room. I do not need a big, new construction place. I pay almost 900 in rent as it is. Why not let me have a home that is 900 in monthly mortgage, not 1300??

    More stuff on the action plan too than just what is above. Answers I do not have because some pretains to my ex, and she not have the answers either.

    Oh, this is a problem… due to a situation with my apartment complex, I am on an unofficial month to month at my current rent rate since my renewal was in August. I am fine with that. I was hoping to make it to this August in hopes to leave before then, else have to sign until Aug 2020. 🙁 However, NACA is going to send a request to the complex about my agreement. Once the complex realizes nothing was signed yet, they will force me to for, say, May 2019-May 2010. Sure, that is sooner than Aug 2020, but that means there is no chance, without spending thousands to break the contract, of me leaving by the end of this summer. Thanks, NACA!

    My legal name? I have to pick one? To us my full middle name or its initial? Oh my gosh, really? Depends on how I sign and was is needed. I am me regardless.

    Other charge offs I can answer for. Layoff. Layoff. Hunger. Layoff. I did not finally start “making” a few bucks to eat/shop at places other than Dollar Tree (but I still do 90% of shopping there) since 2011 until mid-2018. Hey, before my layoff my credit was 800+. Being laid off on the same day of getting my B.S. degree and unable to pay afterwards, crashed down to the 300s in a year. Am finally near 700 now. Sure, NACA not look at scores, but not taking account why old loans still lingering regardless of me trying to get companies to help me my way.

    So my biggest issue is old stuff on credit report I tried for years to get corrected that NACA wants down by May. The second being having to save money monthly when I can not do that due to rent (and no, I will not be able to live anywhere else to save month). Third, NACA may just have forced me not being able to leave sooner than later.

    #48371
    southflorida
    Member

    @Survivor I hope you don’t get offended with my comment but it seems that you are trying to make yourself a victim in this process. The rules are the same for everybody and NACA (and any other lender) has certain rules and criteria that have to be met. If they are telling you that you need to save $400 is not because somebody at NACA just feels like making you save $400 for no reason, there must be a reason behind it. However, your counselor probably made a mistake running the numbers, then learn the NACA qualification criteria (I can help you with that) and then run the numbers yourself and see if in fact you don’t need to save $400 monthly in order to get qualified.

    If NACA needs you to fix your charge-off issues is not because they are being mean with you, it’s because the guidelines of NACA’s lender (only Bank of America for now) makes NACA require that kind of stuff in order for you to be qualified.

    If NACA needs your landlord to provide a letter is not because they want to harm you by making your landlord realize that you have not renewed your lease, it’s just a requirement for ALL NACA MEMBERS.

    NACA and we all here want you to succeed, just try to change your attitude towards the program a little bit and I know you can make it. Below is some information regarding qualification, run your numbers, if you need help, provide your monthly gross income and total monthly minimum debt payments and I can help you figure out the numbers and next steps.

    Qualification and Affordability

    You can be approved for a monthly payment (including taxes, insurance and HOA) of up to 31% of your gross monthly income. However, this 31% combined with your minimum monthly payment obligations can’t be more than 40% of your gross monthly income. For example, if your monthly debt payments including car note, credit cards, student loans, etc are more than 9% of your gross monthly income, then you won’t be approved for the full 31% of your monthly income. For example, if your monthly debt payments (they only consider the minimum amount you have to pay) are 15% of your gross monthly income, the maximum you will get approved is 25% of your gross monthly income because both the mortgage payment (including taxes, insurance and HOA) and the monthly debt payments can’t be more than 40% of your monthly gross income.

    If you would like to be approved for 31% of your gross monthly income and your monthly debt payments are not more than 9% of your gross monthly income and your monthly rent is less than 31% of your gross monthly income, you need to save the difference between your rent payment and 31% of your monthly income for about 6 months, that’s called payment shock and you need to save your payment shock every single month, if you don’t save that amount 1 month, the clock starts again. Saving your payment shock is not only to put that amount on your savings account every month, they will add the balances of all your bank accounts and the total balance has to increase by at least your payment shock.

    #48377
    Survivor
    Member

    I appreciate your comments, but it does not help my situation that there are things NACA wants that can not get done after years of trying, and regardless of NACA having to verify everyone’s place of residence, doing so will cause me early renewal at a higher rate than I am paying now.

    #48419
    TTrumble
    Member

    Hello Survivor,

    Sadly, I have to agree with @southflorida that you are trying way too hard to find reasons to not succeed. The reality is that the systems and processes do work, the problems can be solved and your goals can be reached if that’s what you really want.

    As Henry Ford wrote, “Whether you think you can, or you think you can’t–you’re right.”

    Regardless of how you decide to proceed, we wish you the best going forward.

    Tim Trumble
    Online Operations, NACA
    ttrumble@naca.com

    #48421
    Survivor
    Member

    I see. Well, i appreciate no one knows what my life has been like if I say something, it is factual. Whether you want to think I am looking to fail or not is all your problems, not mine. I come looking for answers. Facts. What I provide are facts. If I tried something for years but have failed doing so, say 2-3 times a year trying for five years, and NACA thinks it can be done in 4 weeks, look at the facts of what I have tried 9all documentations, etc is available for them if they wish to see all my phone calls and emails to such companies).

    If I say the complex may cause me early renewal at a higher rate, that is a possibility. I am not looking to fail and think this will not happen. It could if they see their mistake once they give NACA the info, or they may leave it alone. The FACT is, it is a possibility.

    I do not know what other people go through. I only know what I can do with the time and resources I have and what has been done and what can/may be done, is all what I can tell you as fact.

    Ford has it wrong. As I do not look to fail flying, but unless I am prepared with what I need and what I can supply within my means, I will fall.

    #48680
    Survivor
    Member

    As an update, my apartment complex said that they had to review my account recently because of a request from NACA to confirm I live here. Due to that fact, as i called it, they are now giving me 30 days to decide if I want to pay over 1000 a month, or stay another 12 months until June 2020 at 60 higher than what I am paying now. I told you this would happen. I told my intake person. This is the consequence of sticking your faces into too much info. Now I am stuck. My next NACA appoint is in two weeks IF I can provide certain info they still want that I have been trying for years to already do, and 30 days from the first appoint was not going to be enough if YEARS has not already produced results I wanted. So much for trying to stick it out until August.

    Thanks, NACA!

    Now I got 30 days to decide to leave or stay 12 more months, and doing so will make NACA think I am not saving any money. Also add the fact it will cost over $2000 to break contract later on.

    Guess NACA screwed me. I got no place else to go, so…. yea.

    #48734
    Peapod0609
    Member

    Survivor, a few things:

    You mention,”I pay almost 900 in rent as it is. Why not let me have a home that is 900 in monthly mortgage, not 1300??”

    You CAN do that! If you are paying rent you are automatically approved for whatever your rent is, to my knowledge. You do NOT have to save up any payment shock if you just want to keep paying that amount for a mortgage. I do not understand where $1300 came from. Unless houses for $900 a month are not feasible in your area, maybe the counselor misquoted something or you misunderstood them. As long as you can actually get a house for whatever you are paying in rent you can do that! Are you sure the $400 a month isn’t for the MRF (Minimum Required Funds)? You still have to save up for things like property taxes, insurance, inspections, HOA fees (if any), etc. Even though there are no additional closing costs with NACA, there is still a few additional costs that you get like any other mortgage.

    Also about the rent thing, is $60 a month extra going to cripple you THAT badly? It is unfortunate that the rental verification caused that to happen, but it sounds like others have said, you really are trying to make this not work. Some of the things you are complaining about are very standard things you will get with any mortgage or any loan for that matter. When you enter into a legally binding agreement, especially one where you will be lent tens or even hundreds of thousands of dollars, YES they are going to look into your finances. That’s just how it is.

    Everyone else has to go through all of these same verification and requirements.

    #48735
    Survivor
    Member

    I try to make things work, if they work with me.

    I do not really care about society standards and policies, as most rules do not apply to me and should not. Nor do I care if people complain how I see things. I live a different way than most, and similar to some. My “budget” does not conform to what NACA wants. I see where my money is for a span of 12 months. I know the killer to save: rent and contracts.

    My credit that got destroyed from a layoff can not be fixed as fast as NACA wants with years of me already failing.

    No, I am not looking to fail it is very, very insulting people are saying that and I would appreciate you people to stop saying that. People see excuses but I see them as facts that people take with emotions.

    I have emailed my counselor person three times in three weeks. I get messages that the emails have been read. No reply back. Calling member services is useless. I get different answers to the same questions from different people each time.

    I give the facts. I do not look to fail. I fight with what I got, but I do not always win because of money, society, and politics. But I never go down for good.

    #48737

    If your lifestyle, budget, and expectation of the process don’t conform to NACA, that doens’t mean NACA has done something wrong. They provide the program they provide, and it works for the people it works for. You have the option to conform, and you have the option to walk away. Expecting the rules to change for you – which clearly you do based on your statement that rules shouldn’t apply to you – is the thing you don’t have the option of.

    A change in the amount you pay for rent does not, at all, impact Payment Shock since the biggest part of that is determining the difference between your future mortgage and your current housing payment. If you being paying more for rent, then you’re at the same time proving you can pay a higher mortgage.

    If you have charge-offs in the past two years, those have to be remedied. That’s a very modest request from a lender about to give you tens or hundreds of thousands of dollars, and who has agreed to completely ignore your credit score in favor of letting you prove in the real world that you can afford a home.

    The bottom line really is that if the program isn’t a good fit, it’s not the program’s fault. It may not be your fault either – sometimes things are no one’s fault. But conforming to the program’s requirements is the only way to go forward with it.

    #48738
    Survivor
    Member

    These charge offs are from five years ago. NACA wants those fixed.

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