September 6, 2012 at 1:46 pm #2921
After almost two mind numbing years in the application process and 4 months in NACA underwriting our file has been tossed aside by Mortgage Counselor #5 as too burdensome to work. Yes, that’s right, we currently have no NACA mortgage counselor.
I have called the national customer service number to see what to do and who could help us and was told I would receive a call back within 24 – 48 hours. That was 2 weeks ago. We cannot even get a courtesy callback. After the first year of spinning our wheels in the Houston NACA office, our file has moved around the country and ended up with two different counselors in Atlanta. We have been told all along that NACA is able to get mortgages for self-employed people but so far, we cannot attest to that ability. It is almost as if our file has been tagged as “unworkable”. We get to underwriting, comply with all of their requests, then POOF! Everything grinds to a painful halt. This has happened 3 seperate times now. I am tired of hearing how overworked and understaffed everyone is. That is a cop out! Some people get through this process in under six months…why can’t we? If the problem is what the Underwritiers are asking for, then just tell me. I have our paperwork all the way back to the dark ages so anything they ask me for, I very likely will have it.
NACA will not wear me down and I am not going away. Find someone who can give our file the time it deserves and let’s get moving. Go ahead, NACA, I dare you. Work our file and get us a mortgage or tell us why you can’t !!
PackedAndReady…..and waiting, and waiting, and waiting….September 6, 2012 at 2:25 pm #2923readyTodayParticipant
By next month, it will be 4 long years since I attended my first NACA workshop. I had my first phone appointment with my 4th MC last week and he is sincere and nice but obviously overworked. Despite making an appointment more than 3 weeks earlier, he is not available for the first 30 minutes since he is busy with someone in his office. He is very apologetic about the whole situation and clarified to me that despite my phone appointment with him, he cannot set the time exclusively for me and NACA can continue to booked other people into the same time slot…. He tried to set another phone appointment with me for 2 straight days but again he was just so tied down (I waited for me than 45 minutes to talk to him) and was not able to spend adequate time with me.
Anyway, I have excellent FICO and savings and have long submitted everything that is required to get qualified. Please get me qualified!
readyTodaySeptember 6, 2012 at 2:33 pm #2924
Wow, readyToday, your file is yet another dusty antique sitting on the NACA shelf. Our NACA workshop was in June of 2009 but we did not apply until November of 2010. I think it would be much easier on all of us if we were told the truth about the length and intensity of the process right from the beginning. At least that way our friends and family would not think we are totally crackers for sticking with it this long. Hope you can get things going on your paperwork soon.September 6, 2012 at 6:02 pm #2928TexasTeaParticipant
@PackedAndReady, are you located in Houston and is the Houston office the one giving you so much trouble? Is this what I have to look forward to with my intake meeting next month?September 6, 2012 at 7:05 pm #2930jhattParticipant
i wouldn’t judge one person’s comments on a forum board as the “end all” of what your experience will be like. Everyone has different financials, different issues/concerns, different income and other criteria – all of which can affect your process. I would recommend going into your office prepared- and positive.
good luck!September 6, 2012 at 8:11 pm #2934
@TexasTea, Yes I am in Houston and worked through that office for a little over a year of this long adventure. jhatt is correct, everyone is different. Definitely have your information together before you go for your initial visit. God help you if you are self-employed. I can tell you for certain that many people who started well after we did have closed and moved into their new homes long ago. We were first submitted to underwriting in July of 2011, 8 months after our initial application and have been in and out of underwriting all of these months since. Our initial counselor in Houston told us that we would have to do all of the work on our file he needed us to do in order for him to be motivated to work our file. We did and he got us into and through Underwriting and we satisfied all of the underwriter’s criteria then did not hear from our Houston counselor for weeks. By then, the file had gone cold and we had to pick up and try to salvage the work he had done and move forward with another counselor. We sought relief from the constant stalling of our paperwork in this forum and managed to get some movement back and forth in underwriting and various counselors. I even went to the Home Save event in Houston at the beginning of this summer to get re-submitted to underwriting this last time. Again, we went through everything needed by underwriting. The counselor got busy with the flood of applicants for the summer buying season and passed us off to one of her counselor associates who held our file for a month and said he didn’t understand what the underwritiers were asking for and was not going to work it any more. If we are not qualified to be in this program, why are we being led to believe that we can get approval for a mortgage? We are constantly reminded that everyone is overworked and we must be content to be ignored and continually passed over for a home buying opportunity because we are self-employed and our file is labor- intensive. The counselors work the applications that can be easily approved and closed. We do not fall in that category. Has anyone else who is self employed been able to get a NACA mortgage? If so, please help me understand what more we must do or how long we must wait for our turn to sucessfully navigate the application process. We have complied with every request within 24 hours of getting that request. We are mature adults and have purchased many homes over the years.We are not first time buyers who do not know or understand the home buying and ownership process. NACA customer service won’t return our call and we no longer even have a mortgage counselor with which to attempt to communicate.
We deserve better.September 6, 2012 at 8:32 pm #2935readyTodayParticipant
I was self-employed until January this year. I intentionally switched to salary (W2) since I can’t seem to make any headway despite submitting all the relevant documents requested by NACA. I felt like I was like a leper (untouchable) and hopefully as a paid employee, my ride will be smoother this year.
Currently residing in LA County. Attended my first NACA workshop back on October 25, 2008. Since then I have outlasted my 3 Mortgage Counselors but still actively working to get qualify! I am super organize, excellent FICO (high 700s to 800+), always pay my rent on time, no debt whatsoever, and over $100,000 in savings for down payment or to buy down the interest rate to 0.063%. To date, I have submitted over 1000 pages of documents to NACA and will continue to work hard to reach my goal.
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