September 14, 2018 at 1:01 pm #44942
So I was supposed to close on my condo on 9/5/18 and that didn’t happen because I never got passed credit access. I didn’t pass credit access because of the child support that I receive off and on . If my MC knew about these payments that weren’t consistent why did he even add it to my income? He also doesn’t rspond to emails or text messages as I’ve been in the program for 2 years now & I know to be a polite pest. At this time I’m still stuck in credit access with my file still stating “PENDING” with no close date. I’m also still currently staying in a hotel spending over $300 a week and I’ve let my counselor know more then 5 times that I think this will affect my QUALIFICATION and he acts as if he doesn’t care at all. I know don’t have the money for my buy down. I’ve reached out to the regional manager as well on several occasions to try and get this corrected and he also does not respond . At this point I’d like to go a step further and speak with the regional managers boss because I’m getting no where and still have no knew date as to when I’m supposed to close on my condo and I literally call member services Every business day
September 14, 2018 at 1:35 pm #44947
- This topic was modified 1 month, 4 weeks ago by determined1227.
Were you able to extend the contract? you really need to find a solution soon because you still have the Bank Application after the credit access and that may also take weeks if lucky. Do you have a remote counselor? If not, try to go to the local NACA office to get a solutionSeptember 14, 2018 at 1:37 pm #44948
@determined1227 — wow, I’m sorry. You can reach out to member services to get the name of your regional manager’s boss — but I’m fairly certain that would be the Director of Underwriting. He, too, is extremely busy, so I’m not sure how fast he’d get back with you. It might be worth going to your local NACA office to speak with the office manager or your MC. Just drop by and try to be seen by someone.
A couple of things to consider: you will probably need to be re-qualified with just your income, not counting the child support payments at all. If you go into your NACA office, try to make sure they resubmit your for qualification. Would you still be qualified for your condo without the child support payments? What I’m asking is if you’re able to pay for your mortgage without the child support. You can be qualified for up to 31% of your gross income. Since you’re spending so much on hotel costs do you still have your MRF? It not, you will not get past credit access. This means you will have to wait additional time until you have saved up enough to satisfy the MRF requirement. That will mean living in the hotel longer, which will in turn affect your savings pattern. It’s a bad catch-22.
Since you no longer have the funds for buy down, will that also affect whether you’re able to afford your condo because now you’ll be paying a higher interest rate, which will mean a higher mortgage. You can calculate the numbers to see, or if you don’t mind sharing your numbers (condo cost, savings, etc.) I’d be happy to calculate that for you. All in all you have to ask yourself if it’s still worth it to continue with NACA because you’re now losing money that you won’t get back. One of the biggest selling points of NACA is the ability to buy down your interest rate, which saves you a ton of money over a 15 or 30 year mortgage lifetime. If you can no longer buy down your interest then any bank will work for purposes of closing on your condo. I’d recommend trying FHA. There are also several banks and credits unions that offer to cover closing costs. Google that for your area. You can be qualified within a day or two and probably close on your condo in less than 30 days. I’m afraid it will take longer with NACA now and I don’t see any real benefit to staying with the program if you can’t buy down the interest, because as I mentioned there are other banks/lenders that will cover closing costs. Sorry you’re going through this…September 14, 2018 at 2:13 pm #44956
@southflorida no I don’t have a remote counselor and I’d like to switch counselors @jharris981 I have the money for my MRF just not the money for buy down since without the child support my payments have decreased so I need 6k more for buy down which I’ll be taking from my 401k which sucks but the longer I keep staying in this hotel the more it’s cutting into my savings which will disqualify me @ttrumble I really need your help like ASAPSeptember 14, 2018 at 2:31 pm #44959
@determined1227 Tim is at the Achieve the Dream event so he’s usually not able to get on here as much during those times. Are you still able to save your payment shock each month? Are you able to go to your local office or is it too far? Your counselor may be able to ignore emails and phone calls but it’s very hard to ignore someone sitting right there in the office and maybe the office manager or another counselor can assist you while you wait. You won’t get a realistic close date because you haven’t even made it to the bank application stage yet. Because of the change in your income you are going to be bounced back to the qualification stage where they will have to re-qualify you based on just your income otherwise your credit access will be “pending” indefinitely. Re-qualification could take some time, hopefully not longer than a week or two, but an MC needs to resubmit you ASAP, that’s why I’m hoping you can go in to be seen.September 14, 2018 at 2:39 pm #44960
@jharris981 I didn’t get requalified at all they took my child support off as income and just told me I needed more money for buy down and sent me back to credit access that was it . I’m really pissed because I’ve turned in everything that they have asked for and I’m still stuck in the same place. I only received an Ext until the 18th of month and I already know I’m not going to close in 4 days because again I’m still stuck in credit accessSeptember 14, 2018 at 4:41 pm #44968
you need to extend the contract for at least 2 or 3 more weeks, unfortunately, I’m almost certain you would not get through credit access and bank application before that, if you already have the plan B of using your 401K funds for the interest buy down, just keep trying to reach somebody so you can get credit access approved so you can move to Bank App as soon as possibleSeptember 14, 2018 at 6:34 pm #44974
I’m sorry you’re going through all of this. Hopefully @ttrumble can take a look at your file and help.September 14, 2018 at 6:47 pm #44977
@southflorida I’ve been trying this entire week as well as last week to get more information from my MC and he hasn’t been much help at all. At this point I don’t even know what my monthly mortgage is or will be and I still think that my numbers for buy down that my counselor has for me are wrong but 🤷🏾♀️ I’ve asked to switch counselors about 4 times already but again no one is hearing me . Everyone is at save the dream and that’s also keeping me backed up as my MC hasn’t been able to check my file. I’ve literally cried just about everyday because this is so stressfulSeptember 14, 2018 at 6:50 pm #44978September 14, 2018 at 6:51 pm #44979
I would also start making posts to their live events held on Facebook and go on Twitter to get someone’s attention.
At this point you have NOTHING to lose. I would send a follow up email to your MC, office manager, Regional director, Tim, Erik and Bruce detailing out the issue and the time you spent reaching out to people with no response.
September 14, 2018 at 7:49 pm #44982
- This reply was modified 1 month, 4 weeks ago by Searching4Homes.
@searching4homes I’ve actually reached out to Bruce on Facebook I’ve literally been trying to get clear answers from anyone I can regarding my file and have gotten no whereSeptember 15, 2018 at 3:10 pm #44991
With NACA you can’t be laid back and wait for a miracle. Take all of those individuals I listed above and put them all on ONE email and keep following up on that ONE email until someone responds.
Facebook – They have a live event going on RIGHT NOW. @ttrumle is presenting on in. Start blowing it up and leaving messages. Here’s the link! https://www.facebook.com/NACAOfficialPage/videos/703751259985417/
Twitter – Create an account and start tagging them.
Go to their office and let them know you will wait until someone speaks to you.
Again, at this point you have NOTHING to loose. These forums can only help but so much. If you want it bad enough, hold them accountable and make someone respond.September 15, 2018 at 3:23 pm #44992
@searching4homes I’m on the live Naca feed right now posting under the feed 🤷🏾♀️September 15, 2018 at 4:19 pm #44993
@determined1227 many of us have recommended that you go to the actual office to speak to someone face to face. As I mentioned before it’s pretty hard to ignore someone when they are standing right in front of you. Are you unable to do that for some reason? I just wondered because you haven’t mentioned actually going to try to talk to someone in person.
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