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    Naca of Jacksonville played around with us for over 2 months, and leave us homeless ,Share your experiences with Naca


    Hello Coty,

    We are all very sorry for what has happened, but your attempt to point a finger an NACA is completely misdirected.

    The problem was the fact the home appraised for far less that the sales price, as you were advised on Monday. NACA rules are very clear that the home cannot sell for more than the appraised value. A mortgage that immediately puts you in a negative equity position (i.e. “underwater”) is unacceptable and has always been unacceptable to NACA. If anyone is to blame for the situation you are in, it is the seller for attempting to gouge you on the price of the home.

    NACA’s mission is to get you a fair and affordable mortgage. It is hardly fair for a greedy seller immediately to put you in the very same situation that was a major cause of so many foreclosures during the mortgage crisis. NACA will never let anyone get ripped off on the price of the home they want to buy.

    The simple solution to your situation is for the seller to do the right thing and sell you the home at the appraised value.

    Tim Trumble
    Online Operations, NACA


    There’s nothing to blame for that matters , but as you can see , I direct blame Naca of Jacksonville for the lack of communication, response to calls and emails , like now , you are the only one here responding and taking responsibility for everybody ! , the whole process was at nightmare, we had 45 days to closing ( closing date was March 24 ) , Naca ask us for an extension of 2 weeks , finally we have the seller to extend the contract, after one week into the extension Naca is asking for 21 Days more extension , and 3 days before they ask to lower the price of the property,at that point seller , buyer ( us ) , realtor , everybody was upset, I really understand the seller , if I was her I would do the same ,run from Naca !!


    Seems to me that your Agent should have been on top of that from early on. We used an agent who was not a NACA agent and who was at least a few years removed from the NACA training and while our agent did make a few mistakes, I am confident that they wouldn’t have let me enter into a contact that I couldn’t have fulfilled.


    I’ve been experiencing poor customer service issues as well. However, in your case I don’t know of any company that would approve that loan. Not even traditional when the appraisal comes back under value. A lot of sellers usually adjust the price.


    @Coty: Your thread title is misleading – @ttrumble: I recommend modifying it to something more appropriate rather than such a misguided title.


    You should know what you are getting into – you should be thankful to NACA for keeping you away from the fraudulent property which would have put you in negative equity should you have ended up buying it! And for that matter, no matter where you can try to get mortgage from, you would have the same issue as no bank would approve mortgage higher than appraised value.

    As for your concern of lack of communication on NACA end, know that things move slow as dozens of people get involved with closing process. Everyone has issues with closing and overall experience is not a smooth one for the majority, but if you understand why it is structured that way, you won’t have so much to blame on anyone.

    I would start afresh and look for a property that is appraised right. Just be thankful that this delay has saved you thousands of dollars in negative equity! (of course I do not know the exact details, but this is safe to say i hope)

    Best wishes to you and your hunt,


    It’s very important to have a NACA knowledgeable agent on yourself. It is probably even more important that you are knowledgeable as well. While this is a program to help you buy a home, it is in no way, shape, form, or fashion to make you homeless. Every step of the process is to ensure that you are in a safe home for a decent price. Sometimes taking responsibility will help you learn from your mistakes in the future.

    Best of luck to you and your family.


    Thanks for the comments guys ! , I want to tell you all ,that Naca it’s a great program ,we experienced ourselves!! ,we bought a house back in Atlanta in 2008 through Naca , very pleased with the process and interest rate ! , we sold the house in 2015 , moved down to Santa Rosa Beach Florida , and unfortunately the closest office was Jacksonville office (over 4 hours away driving time ), everything was made through phone and emails ,they never answer phone calls or return them , same with e.mails , and the deal breaker was 3 days before the 2 weeks closing extension , they told me about the house price !! , really !! almost 2 weeks passed from the original closing date to tell me that ! ,and there’s the blame to Jacksonville office ,no to Naca , I had the chance to call and text Mark Bruce a few times as well with not much luck !!
    We lost the property , lost $650 in inspection fees , and our rental has the sign for sale in the front yard !!

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