ggof3

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Viewing 13 posts - 16 through 28 (of 28 total)
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  • in reply to: Property Specific Letter Request Form #43187
    ggof3
    Member

    Hi @lmarieb73,
    I’m not certain if the property specific letter is available in the webfile. I had to send the following information (MLS listing, copy of property tax info from county website, and homeowner’s insurance quote) to my MC and she generated the property specific letter for me to use in my offer. Good Luck!

    in reply to: Payment shock #43141
    ggof3
    Member

    @yassieyas, you can upload your inspection invoice receipt to your file and/or email it to your closing coordinator. I’m not sure what escrow amount you paid, but as long as there’s a receipt to match the amount you should be fine. When you upload your bank statements they will see that you’re still doing payment shock even if the amount went towards inspection and escrow.

    in reply to: Payment shock #43138
    ggof3
    Member

    @yassieyas, 1st congrats for being in the mortgage process stage! 2nd – emphatically yes, keep doing payment shock and everything else you were required to do to get to this point. I just received my clear to close – final, I am scheduled to close on Monday. Trust me, you do not want any bumps that could’ve been avoided at this stage. Good Luck!!

    • This reply was modified 4 years, 2 months ago by ggof3.
    in reply to: NACA Journey_Be Encouraged #43122
    ggof3
    Member

    ****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 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.

    in reply to: Low Appraisal #42804
    ggof3
    Member

    UPDATE #2
    GREAT NEWS!!! The sellers agreed to the lower appraisal price. In addition to the concessions I previously offered (no seller contribution towards rate buy-down & out of pocket repairs), they also asked if I’d remove the offered home warranty — ab-so-lutely!!! My birthday is tomorrow so I don’t know of a better present! YAY!!
    The next update will be in my original timeline post!
    I don’t know what I’d do without all the people that post in this forum, so thank you, and good luck to everyone on this journey to home ownership.

    in reply to: Low Appraisal #42764
    ggof3
    Member

    UPDATE on low appraisal
    The results came back the same. The decision is now with the sellers. I advised my realtor to let them know I’m willing to let go of the agreed upon 2% for the interest rate buy-down and I’d put my own funds into escrow for the few minor repairs. I am now in “wait” mode/ and just to clarify…wait mode is not the same as stop mode – no one is stopping me from getting a house; maybe not THAT house but I never stopped looking at houses just in case there were issues. I should have an answer by tomorrow and I’ll update you guys then.

    Once again, thank you @dangela21 for invaluable information.

    in reply to: Low Appraisal #42568
    ggof3
    Member

    THANK YOU SO MUCH @deangela21 and @ttrumble. I don’t know what I’d do without this forum, especially at this stage of the home purchase process. @deangela21 provided such a wealth of information for the situation I encountered, I cannot begin to thank her enough. I will update my post once I have a resolve.

    in reply to: Low Appraisal #42515
    ggof3
    Member

    Thank you for responding @dangela21 and yes I’d appreciate any docs you may have that can help me attempt to get back on track. Do I just send you my email in a regular message on here?

    in reply to: NACA Journey_Be Encouraged #42194
    ggof3
    Member

    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

    **I see on some members timeline they include Radon inspection, but I don’t think I’ve seen that in the workbook as being mandatory. Can someone help me out with this so I know to add this to the inspection. Thanks in advance.

    in reply to: NACA Journey_Be Encouraged #39549
    ggof3
    Member

    Hey Swtneka3!!! Good to know another DCer is here!!! I forgot to mention in my DC post that my NACA counselor used to be a DCer!!!

    in reply to: Opening a new bank account? #39347
    ggof3
    Member

    Thank you @homesweetboston!! I can’t tell you how much your response eases my mind.

    in reply to: Opening a new bank account? #39342
    ggof3
    Member

    Hi Tim Trumble,
    I was listening to a web conference call recently from a NACA qualified realtor who said something about opening a new checking/savings account being ok as long as those are the only accounts provided to NACA. I was actually thinking of doing this prior to my intake appointment at the end of the month, meaning I would not be able to provide 3 months of statements until sometime in March (all other documents have been uploaded to my webfile). My reason for this is my current accounts show that I spend way too much money on “stuff.” I am committed to going through the NACA journey and know that I am capable of saving money (NACA daily spending and budget was an eye opener for me). My real concern is that the realtor stated if NACA looks at your bank statements and your spending habits are out of control, they more than likely will qualify you for less of a monthly payment even if you’re able to save payment shock and MRF, for instance if I know I can afford $1000 a month and my current rent is $800 and I’m able to save $200 payment shock plus funds towards MRF, I may only get NACA qualified for my current rent amount. Just looking for some input. Thank you.

    in reply to: Eligibility Questionnaire #39286
    ggof3
    Member

    Thank you Tim Trumble. I am so thankful I found this forum, lots of helpful info.

Viewing 13 posts - 16 through 28 (of 28 total)