TTrumble

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Viewing 15 posts - 1 through 15 (of 6,936 total)
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  • in reply to: New Web Profile Layout #75339
    TTrumble
    Member

    Hello NonPriorityInvolved,

    Unfortunately, your post doesn’t have enough information to provide you with a reliable answer here. You will need to contact our National Queue at 425-602-6222 and select option 0. We can review and verify the information needed to help you get the PSL.

    Tim Trumble
    Online Operations, NACA

    in reply to: Member Services #75335
    TTrumble
    Member

    Hello Mbweaver,

    The fact that the email bounced could possibly mean your counselor is no longer with the company. Please contact our National Queue at 425-602-6222 option 2 to be reassigned.

    As for the web-file we do host a Webinar every Monday from 6-7pm EST. Please visit our website http://www.naca.com Live Webinars / Click on Schedule / Web-file Overview and Register.

    Tim Trumble
    Online Operations, NACA

    in reply to: Bank of America Home Grant Program #75332
    TTrumble
    Member

    Hello jkp2020,

    Unfortunately, the BOA Home Grant Program cannot be combined with NACA. We have our own program through BOA in which most members can reduce their interest rate even lower. Therefore, other Bank of America program cannot be combined with NACA. the newly revised terms of our program with BOA were emailed to our members recently and just went into effect this past Monday, May 3rd. The details have been posted in at least one other thread here on the Forum and are available on the the NACA website as well.

    There are many other programs out there though that are compatible with NACA and your counselor can help you find ones in your area.

    Tim Trumble
    Online Operations, NACA

    TTrumble
    Member

    Hello MDPeach22,

    Yours is a pretty rare situation, changing jobs while waiting to close.

    Because you have already submitted a bank app and the source of income is changing, a new bank app including at least 30 days of paystubs will be required.

    The reasoning is actually pretty simple. The bank needs to verify your ability to repay the loan before they can approve it, so any time there is that kind of change, the new information has to be processed from scratch.

    Once you have the 30 days of paystubs in the file, you counselor should be able to resubmit the bank app for you.

    Tim Trumble
    Online Operations, NACA

    in reply to: Possible job change during the NACA process #75330
    TTrumble
    Member

    Hello ericleap,

    If you are offered the job, it’s definitely okay to accept. The only two points to remember regarding your NACA Qualification is that the gap between one job and the other must be less than 30 days, and the new job must be in the same industry.

    Other than that, as Nelsont wrote, take it and congratulations!

    Tim Trumble
    Online Operations, NACA

    TTrumble
    Member

    Hello Horns4life79,

    The bathroom renovation may be a possibility though I have doubts for the pool.

    First, NACA does not do any “after the fact” lending for repairs or renovations. Only building funds into the original loan is allowed.

    We do often allow you to obtain an equity loan for repair or renovation. You will have to obtain permission from our MAP department. However, you will find the rules of the HAND department will still largely apply here, requiring that the work done maintain or improve the value of the property. Pools, sports courts and so on are generally not allowed.

    You will simply have to contact the MAP department to find out exactly what can be done.

    Tim Trumble
    Online Operations, NACA

    in reply to: NACA Employment #75135
    TTrumble
    Member

    Hello robertsk50,

    How about the voice of experience? I’ve been here for nearly twelve years now.

    I could pretty easily write a book about what it’s like to work here. The first thing I will say, and Bruce Marks would readily agree, is working for NACA isn’t for everyone. It takes dedication to NACA’s mission of economic justice and helping to improve the lives of others.

    NACA’s mission is expanding right now, just like the demand for our services. We are aggressively expanding our community advocacy efforts and are hiring community organizers across the country. This is in addition to Housing Counselors, Mortgage Consultants, Admins and more nationwide as well.

    In just about any position in NACA, you’ll put in average ten-hour days five, six and sometimes even seven days a week. It’s a mission, it’s demanding, but you would be surprised how many of us have been here ten to twelve years and even more. You really do make a difference in people’s lives here.

    Benefits? You get ten paid holidays per year. Medical, dental and vision. Short and long term disability. AD&D insurance, with options for additional coverage. Excellent 401k with match. Vacation, sick days and personal days are lumped together as PTO (Personal Time Off), and unused days roll over to the following year and continue to accumulate. (I know somebody who has nearly six months of PTO accrued!)

    It’s a heavy workload, no matter what you do at NACA. When is it ever NOT a heavy workload in the non-profit sector? When an organization is mission driven such as we are, it’s always a big job to do. But it’s those times when all your work pays off and somebody’s future is more secure because of you that keep you going.

    The best thing you can do right now is to go to the jobs page on our website at http://www.naca.com/jobs and look through the positions available. You can also fill out an application online there as well.

    I hope that answers a lot of your questions. Best of luck to you whether you join us here at NACA or your career path takes you elsewhere.

    Tim Trumble
    Online Operations, NACA

    TTrumble
    Member

    Hello all,

    I goofed. Mea culpa.

    I misread something in the message from Mr. Marks and have since gotten clarification. Non-priority members are still limited to buying in a Census Tract with a median income below 100% the MSA median income. The rate will be higher for Non-priority members who buy in a Census Tract with a median income between 80% and 100% of that for the MSA.

    My apologies for any confusion I may have caused.

    Tim Trumble
    Online Operations, NACA

    • This reply was modified 3 months, 2 weeks ago by TTrumble.
    TTrumble
    Member

    Hello Angeljordan,

    According to NACA’s Policies and Procedures:

    “For married Members, the spouse’s income must be recorded into the household income unless the Member is legally divorced or separated. State laws differ on what constitutes separation and not every state recognizes separation.

    If a spouse chooses not to be a part of the mortgage process, NACA cannot use any portion of his or her income to increase the NACA Qualification amount, though it must still be entered into NACA-Lynx. Similarly, if a spouse has no or limited income but has debt, then NACA will count that debt against the borrowing Member(s) who is NACA Qualified.

    Counselors must advise Members of the pros and cons of having only one person on the mortgage. Explain that the NACA Mortgage is not assumable, and therefore in the event something happened to the borrowing Member(s) the non-purchasing spouse would not be able to assume the loan. Additionally, NACA will not overlook the fact that debts, severe credit issues or available savings are coming from a non-participating Household Member.

    In short, leaving him off the loan won’t allow you to avoid his past issues, but if the collections are all more than 24 months old, it shouldn’t matter anyway. So all you would be really doing is decreasing your qualification amount and making the whole situation more complicated by leaving him off. Your counselor can tell you for sure, but it’s my guess that you would still be better off with him as a co-borrower.

    Tim Trumble
    Online Operations, NACA

    in reply to: Late payment through covid #75098
    TTrumble
    Member

    Hello argreene,

    As long as your can show the late payments were directly Covid-related and therefore beyond your control, you should be okay. your counselor and underwriter will have to make the final decision, but I suspect you don’t have anything to worry about.

    Tim Trumble
    Online Operations, NACA
    ttrumble@naca.com

    TTrumble
    Member

    Hello Lab1234,

    You just asked one of the most dangerous questions ever posed in this Forum: “If I don’t disclose this information during my NACA process, will this hurt us?”

    The answer is YES, but not because you had the short sales. Your file will be terminated and you will be banned from the program because you deliberately withheld the information.

    We might not come across the short sales during your qualification since they were so long ago, but Bank of America WILL find it once we have sent the loan application to them. Withholding that kind of information will raise red flags as to what else you may be hiding, and that will be the end of your file then and there even though the short sales would not have otherwise affected your file.

    Also, by that point, you will have found a house, put down a deposit with the sellers and signed a contract. Your deposit will be forfeited to the sellers and the contract terminated. All because you chose to hide information that would have had no effect on you otherwise.

    Short sales and foreclosures do not affect the NACA process as long as they are more than two years old. Deliberately withholding information that is potentially relevant to your situation however is completely unacceptable and can possibly even be interpreted as attempted mortgage fraud.

    If you read through the Forum, you will see I commonly use the phrase, “Better twenty pages too many than one too few”. Since the crash in 2007, you don’t hide anything when it comes to getting a mortgage.

    You need to be forthcoming about the past short sales. You will probably need to do nothing more than write a Letter of Explanation, and maybe provide documentation to support it just because it was more than one short sale. Start with your county’s Register of Deeds (at least that’s what they call it here) and track down the documents to show the short sales. It’s not going to be that difficult or take that long, so again, please stop trying to second-guess things. That’s what will make things more difficult for you. Just roll with the process and don’t be afraid to put in a little work.

    I apologize for the “lecture”, but it really is that serious. Don’t try to second-guess the process and definitely don’t hide anything. Keep it upfront and honest, put in the work that’s needed, and you’ll be fine.

    Tim Trumble
    Online Operations, NACA

    • This reply was modified 3 months, 2 weeks ago by TTrumble.
    in reply to: PROPERTY TAXES ADJUSTMENT #75062
    TTrumble
    Member

    Hello mrstaylor,

    Well done! Bravo!

    Tim Trumble
    Online Operations, NACA

    in reply to: Can’t locate my mortgage counselor “HELP” #75033
    TTrumble
    Member

    Hello keshiakdw,

    For updates on your file and assistance in contacting your counselor, please call NACA Member Services at 425-602-6222. they are open Monday through Friday from 9:00 am to 6:00 pm Eastern Time.

    Tim Trumble
    Online Operations,NACA

    in reply to: What qualifies as “participation? #75029
    TTrumble
    Member

    Hello Bdavis1130,

    Email communications@anca.com and they will send you a list of ways you can receive participation credit for specific social media and other online activities.

    Tim Trumble
    Online Operations, NACA

    in reply to: Password error–Invalid password #74912
    TTrumble
    Member

    We had a few system issues last night and early this morning that prevented access. We were down on this end for a couple of hours this morning as well. All has been fixed now however and you should have no problem logging in.

    Tim Trumble
    Online Operations, NACA

Viewing 15 posts - 1 through 15 (of 6,936 total)