Qualification expired – So frustrated and thinking about quitting

Home Forums Purchase Program Qualification expired – So frustrated and thinking about quitting

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  • #65565
    bigste
    Participant

    I apologize if this post is long, but I feel the need to vent before I explode!

    One of my friends told me about NACA many years ago, but I decided to buckle down and get all my paperwork and finances in order about 2 years ago. I was qualified in June 2019 at an Achieve the Dream event. I was assigned an in house realtor in July. I would reach to him, but didn’t hear back from him until October. I’m not sure if he had a large caseload, but he was just too unresponsive for my needs. The final straw came in December when he scheduled a video conference with me to view some properties. I made arrangements to leave work early, only to have him not respond to my phone calls.

    I found a more responsive realtor who is more responsive and NACA approved. We met, immediately discussed my needs and started researching properties. During one of the showings, I fell in love with a property and we decided to put in an offer as it had no offers yet and a public open house was scheduled 2 weeks later.

    My realtor submitted the documents to request a property specific letter. We’re supposed to get a response in 24 hours. 3 days go by, and nothing. Turns out I have a new MC. We submit the documents to the new MC. Still nothing. I reach out to the Office Manager who replies within one hour stating my qualification has expired. No problem, I thought. There have been no significant changes to my expenses, spending or income, so I figured I would just have to submit a couple of documents and re-qualify. OM specifically requested paystubs for past 30 days, 2019 W2, credit report and membership fee, bank statements for past 3 months, and updated rental verification and employment verification. I supplied everything immediately.

    I email the OM and MC and MC responds saying PSL can be issued until file re-qualifies and to “sit tight”. MC promises to call later in the day. I email again the next day after not receiving the phone call. The following day I receive a checklist of requested documents, including bank statements, I’ve already submitted, credit card statements for MARCH, which I haven’t received because it’s in the future, a letter for each bank statement explaining purchases for money order rent payments, when the USPS receipts AND money order receipts are already uploaded, a letter explaining why my MIDDLE NAME is on my credit report.

    Lastly, it said I must volunteer before my file can be submitted. The closest workshop isn’t until 2 weeks from now. I am so frustrated as it looks like I’m going to lose out on an opportunity on this wonderful home. Overall, the lack of communication from NACA during the whole process is tough to deal with. I understand the benefits of NACA, but I find myself questioning if it’s worth it with all the hoops one has to jump through.

    #65567
    Nelsont
    Member

    Lack of communication is a big deal. But what you are going through is indeed the process. You can’t get qualified and then sit on that qualification for a while without any activity. The only time you will not need to volunteer in order to re-qualify is if you are not so far into the program as you are…once the calendar flips to January everything resets…now you will be on the clock for 5x per year every year you own the house (for at least 5 years with a naca lien on the mortgage). You will always need to pay your dues every year prior to having any counselling. Your credit pull is only good for 90 days so you will likely have it pulled and pay for the pull twice at least in the process under normal circumstances. You will always be asked for duplicate and updated documents between qualification, credit access, bank app and any other stage. If you submit for approval in the middle of a billing cycle your statements will never be good enough. Your middle name is not causing confusion BUT you have instances where your middle name is not used. The underwriters will never connect dots and never draw conclusions.

    I understand your frustration. This is how the mortgage lending industry works. I have purchased 3 houses; 2 of which were prior to naca. I have always had these types of issues (minus the dues, volunteering and lien). If it’s any consolation you are definitely on the right track and seem to have everything together.

    #65573
    GazelleFocus
    Member

    Sorry you’re frustrated. I went through NACA 3 years ago. I don’t know about your office but I was able to volunteer in the office. I didn’t have to wait for a workshop. I answered phones, made copies, and helped the office manager with other tasks. Give them call. You got it. Don’t give up.

    #65576
    Alikay
    Member

    It is very frustrating and as someone who lost out on a house because of my realtor and lack of communication from HAND, I get it but don’t give up. Think about what your ultimate goal is.

    They will come back to you for the same documents over and over sometimes. My husband and I have a folder on the computer organized for all the paperwork by month so it’s just a matter of click and send as annoying as it is. Best to understand up front that this will happen and be at peace with it and think about the end goal and how you’ll be happy once it’s over. Just push through.

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