[ggof3]

@NewYorkSpirit, the 2nd appraisal took about 2 weeks.

[ggof3]

@NewYorkSpirit, definitely praying for you. When I was purchasing my home, the appraisal came back $26,000 less than the asking price, so I understand how you feel. I’d say, start with your realtor, they can pretty much guide you on what you might wanna do next. I decided to ask for a 2nd appraisal to let the sellers know I was doing everything in my power to purchase their property at a fair price. I also gave up any seller concessions offered. Once the 2nd appraisal came back with the same numbers, the sellers, thankfully agreed to the appraisal price. Praying things work out for you.

[ggof3]

@TERABYTE2 it took 2 weeks for my appraisal dispute to come back. Good luck with yours.

[ggof3]

@Newlywed Homebuyers,
Thank you for responding. Yeah, using Work Number is one thing, providing full credit/debit info well…. quite another. I advised them to contact member services regarding the credit card part.

[ggof3]

Hi,
I’m hoping someone can answer this for me. I purchased my home through the NACA process last year in July and did not have to use the work number for VOE. A family member is now in the process of becoming qualified and received an email from her counselor stating that it is now mandatory for NACA to use “the worknumber” and that she must provide the counselor with her credit/debit card number along with expiration date and 3 digit code on the back of the card used with the work number site. Text from the email states: “There is a fee between $40-$50 for the verification, we would have to extend that fee to you because this fee is considered a “closing cost” and NACA does not have “closing cost” therefore I would need your debit or credit number, expiration date and 3 digit code on the back of the card.” Thanks in advance for any insight on this issue.

[ggof3]

Hey @nathalie09, I’m not sure why it happens but, yes, I got loan estimates that did not quite reflect my true situation. I remember contacting my closing coordinator on any and every thing that did not look right because any little thing that you don’t catch early on can delay the process because I learned when you’re at this stage of the game dealing with the bank, they have a turn around time of 48-72 hours & trust me that is when the “closing crazies” begin because you are so close to getting your house. Just an FYI, whenever I emailed my closing coordinator, I also cc’d my Mortgage Counselor and make sure you also cc your nacalynx email address. Good luck!!!

[ggof3]

*********************CLOSED ON MY HOME TODAY*********************
Hello Everyone,
Here it is – start to finish:
– OCT. 28th – attended workshop
– NOV. 30th – intake meeting
– DEC 28TH – QUIT SMOKING (the Budget made me do it lol)
– APRIL 26th – NACA Qualified (YAY ME!) – since this was a Thursday, I was able to attend the Purchase Workshop the same evening (I was the only person in attendance)
– APRIL 29th – met a realtor at an open house; told her about NACA program; she was interested enough to attend the realtor webinar and become my realtor.
-APRIL 30 – MAY 10TH – researched homes online; made a list of properties I was interested in; continued to go to open houses; Realtor completed webinar May 9th. Started looking at homes with realtor.
– MAY 20th – scheduled to view a few properties with realtor; asked if I could add a property that just became available today – after inquiring, realtor said sellers do not want any Sunday showings; 1st available showing Tuesday, May 22nd.
-MAY 22ND – met with realtor to view home from Sunday; first I want to say, how gracious the sellers were to allow me to view their home as the wife had fallen and was on bed rest. From the moment I walked in, I felt at home. I knew I wanted to make an offer on this home because it would not remain on the market long.
– Met with my realtor to complete offer paperwork; since we drove in separate cars, my realtor contacted the seller’s realtor to tell him about me making an offer and my financing program. Now here’s where everything could have fallen apart — the Seller’s Agent DID NOT want to recommend his clients to work with a NACA buyer due to 5 previous “bad” experiences. My realtor asked how long ago did these “bad” experiences occur, response was 2 years ago; she encouraged him to give NACA (me) an opportunity to show that NACA has evolved since then. He agreed.
– MAY 23RD – notified Seller’s wife rushed to the hospital; paperwork on hold.
– MAY 25TH – notified Seller’s accepted offer; paperwork coming soon
– MAY 28TH – signed paperwork
– MAY 29TH – due to the age/health of sellers, waiting for response on best time of day to schedule inspection
****LATEST UDATE BEGINS HERE*****
– MAY 30TH – inspection/pest inspection completed – report uploaded to NACA same day (a few minor repairs)
-JUNE 1ST – received NACA HAND required repairs- sellers offer to deposit funds in escrow for repairs after closing
-JUNE 5TH – completed paperwork for Credit Access at NACA office
-JUNE 6TH – received text alert from NACA “CONGRATULATIONS CREDIT ACCESS – REQUEST”
-JUNE 7TH – completed Bank Application at NACA office
-JUNE 7TH – received text alert from NACA “CONGRATULATIONS! CREDIT ACCESS – APPROVED” & “CONGRATULATIONS! Your new status: MORTGAGE PROCESS
-JUNE 8TH – Capital One credit report alert – CORELOGIC pulled credit report
-JUNE 13TH – Appraisal completed
-JUNE 14TH – Appraisal came in 26K less than asking price
-JUNE 14TH – Came to the Forum to ask for assistance — @dangela21 was extremely helpful – NACA has a formal appraisal dispute process – my realtor completed paperwork; I gave up 2% buydown funds, home warranty & escrow funds for repairs
-JUNE 18TH – Sellers agree to wait for 2nd appraisal information
-June 28TH – 2nd appraisal – no change /sellers ask for the weekend to decide
– JUNE 29TH – Original P&S closing date
-JULY 2ND – Sellers agree to lower appraisal price
-JULY 3RD (my birthday) – Mr. Hernandez from HAND gave me the best birthday present — I can waive repairs!!! Signed & emailed paperwork back to HAND
/spoke with Closing Counselor – given a tentative closing date of July 13th – asked if we could change it to July 16th (the whole Friday the 13th thing lol) ok’d by Closing Counselor
-JULY 5TH – purchased homeowner’s insurance /emailed documentation to my MC
-JULY 6TH – received/signed/emailed Change of Circumstance (COC)
-JULY 7TH – cleared by HAND
-JULY 9TH – NACA status changed to Processing
-JULY 13TH – Have not received any conditions; called Closing Counselor to get an update; not closing on the 16th – says I have a condition that I need to address; even while on the phone with counselor, I am unable to see any conditions. The condition revolves around my wanting to close in July although my current lease does not expire until August 31st -Lender wants to make sure I’m not breaking my lease. Submitted LOE that I’d like to close in July and utilize the month of August to have updates completed without having to move furniture around pulling up carpet & painting. ***SIDE NOTE*** No one can explain to me why I am unable to see Lender Conditions in my web-file — extremely frustrating.
-JULY 16TH – Contacted Closing Counselor for update on any new conditions; no new conditions, but while viewing my file, he saw an update for UW -CTC. 20 minutes later I login to my file and it now says CTC-Final…..
I’ll update again when I receive my closing date.
*****CLOSING DATE —MONDAY, JULY 23RD*****
– July 20th – Received CD (closing disclosure) – the numbers for property tax represent the sellers homestead exemption; notified settlement agent; closing for the 23rd cancelled until bank corrects tax info
– July 24th settlement agent called to ask if 10am tomorrow (July 25th) was good for me to come to NACA office to sign paperwork – I am absolutely ready to close on the 25th!!!
*****Ok be ready to be amazed, because I certainly was…. I DID NOT NEED TO BRING ANY FUNDS TO CLOSING******** it’s ok, read it again, I’ll wait….. I’m getting back about $64 from closing….
-July 25th – At closing, be prepared to sign, sign and sign some more. Settlement agent was very thorough at going over what each document meant and answered any and all questions I had. ***FYI me notifying settlement agent of property tax being calculated on seller’s homestead exemption would have been caught sooner or later and adjusted but me notifying them just made the adjustment sooner — settlement agent “no harm, no foul”

To everyone at various stages of the process…hang in there, your house is out there!! You may experience every range of emotions known to man, but just know, YOU CAN DO THIS!!!

[ggof3]

@JHarris981, thanks, I’m so excited about tomorrow. I knew that the sellers were receiving the homestead exemption; the CD property tax was calculated based on the sellers exemption amount. I notified the settlement agent because I knew my property tax would be higher. While notifying the settlement agent caused a delay in closing, I just didn’t want any surprises on closing day or several months down the road. I’ll have a better understanding tomorrow about the property taxes & the whole settlement process in general.

[ggof3]

@JHarris981, I’m not certain how it works, but I’ll know for certain tomorrow because it’s finally closing day!!

[ggof3]

@ttrumble – closing craziness is a real thing. Ask me how I know, go on ask me…. I’m experiencing it in the worse way!! Was supposed to close today but since I notified settlement company of property tax error on the CD (closing disclosure) my emotions are on tilt waiting for an update. Maybe it’s just me but it seems as if once you’re in the closing stage, the harder it is to get answers from anyone. I understand everyone is busy and sometimes leaving a voicemail is necessary, but where is the return phone call?? I’m just looking for the possibility of a closing date sometime this week. UGH!!!

• This reply was modified 3 years, 6 months ago by ggof3.

[ggof3]

***UPDATE*** NOT closing on Monday.
I received the closing disclosure (CD) yesterday. I saw that the numbers were incorrect for property tax & notified the settlement agent. The sellers receive a homestead credit for which I am not eligible but those were the numbers used for the CD. Now I’m in a holding pattern for a Lender Change of Circumstance and not certain of when closing will happen.

[ggof3]

Hi @whitknee,
Thank you!! To be perfectly transparent here, I could’ve been qualified sooner however I procrastinated on completing the NACA budget. Completing the budget was such an eye-opener for me, I couldn’t believe how much money I wasted every month. I can now say thanks to the NACA budget, I’m a FORMER cigarette smoker!!

[ggof3]

***SEE BELOW FOR LATEST UPDATE****
Hello Everyone,
I haven’t posted for awhile so here’s my current status:
– APRIL 26th – NACA Qualified (YAY ME!) – since this was a Thursday, I was able to attend the Purchase Workshop the same evening (I was the only person in attendance)
– APRIL 29th – met a realtor at an open house; told her about NACA program; she was interested enough to attend the realtor webinar and become my realtor.
-APRIL 30 – MAY 10TH – researched homes online; made a list of properties I was interested in; continued to go to open houses; Realtor completed webinar May 9th. Started looking at homes with realtor.
– MAY 20th – scheduled to view a few properties with realtor; asked if I could add a property that just became available today – after inquiring, realtor said sellers do not want any Sunday showings; 1st available showing Tuesday, May 22nd.
-MAY 22ND – met with realtor to view home from Sunday; first I want to say, how gracious the sellers were to allow me to view their home as the wife had fallen and was on bed rest. From the moment I walked in, I felt at home. I knew I wanted to make an offer on this home because it would not remain on the market long.
– Met with my realtor to complete offer paperwork; since we drove in separate cars, my realtor contacted the seller’s realtor to tell him about me making an offer and my financing program. Now here’s where everything could have fallen apart — the Seller’s Agent DID NOT want to recommend his clients to work with a NACA buyer due to 5 previous “bad” experiences. My realtor asked how long ago did these “bad” experiences occur, response was 2 years ago; she encouraged him to give NACA (me) an opportunity to show that NACA has evolved since then. He agreed.
– MAY 23RD – notified Seller’s wife rushed to the hospital; paperwork on hold.
– MAY 25TH – notified Seller’s accepted offer; paperwork coming soon
– MAY 28TH – signed paperwork
– MAY 29TH – due to the age/health of sellers, waiting for response on best time of day to schedule inspection
****LATEST UDATE BEGINS HERE*****
– MAY 30TH – inspection/pest inspection completed – report uploaded to NACA same day (a few minor repairs)
-JUNE 1ST – received NACA HAND required repairs- sellers offer to deposit funds in escrow for repairs after closing
-JUNE 5TH – completed paperwork for Credit Access at NACA office
-JUNE 6TH – received text alert from NACA “CONGRATULATIONS CREDIT ACCESS – REQUEST”
-JUNE 7TH – completed Bank Application at NACA office
-JUNE 7TH – received text alert from NACA “CONGRATULATIONS! CREDIT ACCESS – APPROVED” & “CONGRATULATIONS! Your new status: MORTGAGE PROCESS
-JUNE 8TH – Capital One credit report alert – CORELOGIC pulled credit report
-JUNE 13TH – Appraisal completed
-JUNE 14TH – Appraisal came in 26K less than asking price
-JUNE 14TH – Came to the Forum to ask for assistance — @dangela21 was extremely helpful – NACA has a formal appraisal dispute process – my realtor completed paperwork; I gave up 2% buydown funds, home warranty & escrow funds for repairs
-JUNE 18TH – Sellers agree to wait for 2nd appraisal information
-June 28TH – 2nd appraisal – no change /sellers ask for the weekend to decide
– JUNE 29TH – Original P&S closing date
-JULY 2ND – Sellers agree to lower appraisal price
-JULY 3RD (my birthday) – Mr. Hernandez from HAND gave me the best birthday present — I can waive repairs!!! Signed & emailed paperwork back to HAND
/spoke with Closing Counselor – given a tentative closing date of July 13th – asked if we could change it to July 16th (the whole Friday the 13th thing lol) ok’d by Closing Counselor
-JULY 5TH – purchased homeowner’s insurance /emailed documentation to my MC
-JULY 6TH – received/signed/emailed Change of Circumstance (COC)
-JULY 7TH – cleared by HAND
-JULY 9TH – NACA status changed to Processing
-JULY 13TH – Have not received any conditions; called Closing Counselor to get an update; not closing on the 16th – says I have a condition that I need to address; even while on the phone with counselor, I am unable to see any conditions. The condition revolves around my wanting to close in July although my current lease does not expire until August 31st -Lender wants to make sure I’m not breaking my lease. Submitted LOE that I’d like to close in July and utilize the month of August to have updates completed without having to move furniture around pulling up carpet & painting. ***SIDE NOTE*** No one can explain to me why I am unable to see Lender Conditions in my web-file — extremely frustrating.
-JULY 16TH – Contacted Closing Counselor for update on any new conditions; no new conditions, but while viewing my file, he saw an update for UW -CTC. 20 minutes later I login to my file and it now says CTC-Final…..
I’ll update again when I receive my closing date.

*****CLOSING DATE —MONDAY, JULY 23RD*****

• This reply was modified 3 years, 6 months ago by ggof3.

[ggof3]

@lmarieb73, Yes!! Thanks for commenting, I forgot to update with closing date.

[ggof3]

I also used an external realtor but because I knew a property specific letter was required upon making an offer, I contacted my MC with the required info to get the letter. I did anything I could to keep the process flowing so that I was not waiting days for responses.

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