Light at the end of the tunnel

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This topic contains 5 replies, has 3 voices, and was last updated by  TTrumble 7 months ago.

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  • #41927

    reahlyn78
    Member

    I have been reading the forum’s threads over the last few months and finally decided it was time to share my story. I tried to condense it as much as possible, but it’s a lot! I am working with the Dallas office and have almost given up so many times but I now see the light at the end of the tunnel. Stay the course!

    NACA Timeline

    July 8, 2017- Initial Buyer’s Workshop

    It took a couple of weeks to get my member number and to reach someone in the office to make an appointment but I finally did. My initial intake was scheduled for

    October 2017 – Initial counseling Intake Appointment
    I had most documents ready, except for LoEs, and the Mortgage Counselor raved about how organized I was. I let him know I am a teacher and as soon as I saw the documents needed in the workbook, I began organizing them by color. Additionally, I took hard copies of everything and I also created a Google Docs folder to hold copies of everything. I had heard and read about document nightmares and didn’t want to fall victim. I walked away from that meeting with an action plan that was totally achievable and a follow-up appointment for

    Follow up appointment and my MC said it looks like everything was ready to submit to underwriting I just needed a couple of more LoEs.

    January 23- I came to follow-up appointment to find out that my MC was no longer in the office. Tears! I was so close according to him and would be ready for my file to be submitted to the underwriter at this appointment. Nope! I met my new MC, Mickie Thompson, who is also the Office Manager. When I sat in her office, she gave me a new plan of things that needed to be done. Many more than my previous MC! I left the meeting and immediately got to work on the action plan.

    February 9- Mickie worked me in on a Friday afternoon to get documents in with hopes of getting ready to submit to the underwriter. There were still a couple of things needed but I could email them to her and my Webfile. Follow-up appointment was scheduled for 3 months with hopes that I would be under contract and wouldn’t need it.

    February 28, 2018
    Received qualification email and a phone call to invite me to the Purchase Workshop March 2, 2018.

    March 2, 2018
    Attended Purchase Workshop and almost cried when I saw the affordability amount and max purchase price. Thankfully, my MC was at the workshop and told me a couple of things to do that day.

    March 2018
    I looked at houses and even made an offer on one before Spring Break. My MC let me know after the offer that it was outside of my affordability. She then helped me get qualified for my current rent amount. After looking at countless houses and being outbid and losing, I reached out to her once again about increasing my affordability amount. She submitted to underwriter a third time and finally an amount that would make me competitive in my offers came back.

    April 2018
    I continued viewing homes. In fact, I looked at a total of 29 homes and made an offer on 9. It was house 29 and offer 9 that was accepted. Finally! I reached out to my MC to begin next steps but she was out of the office after having had surgery. Again, I almost cried. However, within the week she replied back to me and was on top of everything. She never missed a beat even when I freaked out!

    May 2018
    To date, I have an executed contract that was accepted then amended to include seller covered repairs, which are in progress. I have received my loan estimate and application packet in the mail from Citi. Today I went into the office to sign my bank application and I only had one condition! Tomorrow I will begin to make phone calls for insurance quotes. My anticipated close date is May 29, 2018. I am not sure if I will make it but that is only because of repairs and having to have a re-inspection.

    I can testify that if you follow the steps and work closely with your MC then you will make it. I screamed, kicked and cried many times, but was still diligent in what was asked. Without Mickie, my MC at the Dallas office, I would have quit long ago. She is just as meticulous as this school teacher is, and having switched to her caseload was a blessing.

    It’s not over yet, but I can finally see the light at the end of the tunnel. My best advice is to stay the course and follow instructions. It will definitely payoff!

    #41929

    southflorida
    Member

    congratulations, I hope you can move to your new home very soon

    #41950

    reahlyn78
    Member

    Thank you southflorida. It has been a long process to get here. I received conditions this afternoon and now have to figure out what I need to address and what my mortgage counselor will address. Outside of the year’s payment for insurance I am lost.

    #41975

    TTrumble
    Member

    Hello reahlyn78,

    Thanks for sharing your story so far. You are even more proof that patience and persistence are key elements to success in the NACA program.

    “Outside of the year’s payment for insurance I am lost” probably means that the other conditions are for your closing Coordinator to handle and will not require your attention. Until you hear from your Closing Coordinator otherwise, just focus on the insurance.

    BTW, thanks for the nice comments about Mickie. She’s a real rock star in the Dallas office, and I can promise you that it’s well deserved praise.

    Tim Trumble
    Online Operations, NACA
    ttrumble@naca.com

    #41982

    reahlyn78
    Member

    @ttrumble
    Thank you Tim. She is pretty awesome!
    The only concern I had was whether the insurance needs to be prepaid for the year because it ask for a paid receipt for the year but nay estimates show 2 or 3 months prepaid. I keep telling everyone it is definitely a process, but the process is worth it.

    Thanks so much!

    #41992

    TTrumble
    Member

    Hello reahlyn78,

    If it’s saying a paid receipt for the year, then you do probably need to pay the first year in advance. It’s most likely a requirement in Texas, though I can’t say for sure. Most states do require just two or three months in advance while the escrow balance begins to build, which is why your estimates would say otherwise.

    Ask the insurance agent when you call. They’ll obviously know for sure.

    Tim Trumble
    Online Operations, NACA
    ttrumble@naca.com

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