NeedsHelp

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Viewing 15 posts - 1 through 15 (of 19 total)
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  • in reply to: My NACA Journey Is Over – The Ending . . . Priceless #2862
    NeedsHelp
    Participant

    Tim, as much as I appreciated your help when I was going through the process, the fact remains, my mortgage counselor did not respond to the builder during anytime we were getting close to the closing date.

    Yes, Tim, it was definitely an unnecessary expensive decision, that basically cause by my MC not responding to my builder and that fact that she mentioned Citi would not waive my transcript and accept proof that we had filed an extension and proof that we paid our taxes. And yet you state:

    “ It was taking shortcuts, “waiving” a document here and failing to provide complete information there in exchange for a higher interest rate that eventually escalated to the falsification of information, failure to provide legally required documents and even forgery”. . .”

    And yet, Citi decided to waive our transcript and accept our proof of filing an extension and payment of taxes. A day late . . .

    Honestly did not want to take another chance with NACA. And since the closing date had passed, the builder had no obligation to take the NACA loan. The builder approved us within 48 hours, with our proof. No transcript needed. As a follow up, our documentation is not in the IRS system and the builder has been sent this information.

    And yes, it maybe cost me an additional $67,000 for the life of the loan. One less vacation a year ($2,233.00 per year); and piece of mind for the additional monies per year. You don’t now (but I’m sure many on this forum would understand) the amount STRESS, this process was. We basically had no choice. Would NACA have been willing to pay rent for us to live somewhere else until our information was in the IRS system? Would NACA have been willing to refund our down payment of $5,000 to purchase another home? Looking forward to your response to those questions.

    At the time we made our decision, we needed to be out of our rental. We had no plans to give notice until we had keys in hand. The landlord gave us notice in May and we had to ask for two extensions. What in the heck were we supposed to do when he said, “You’ve Got To Go”!! I have a child to consider in this situation. Had we stayed, we would have risked going to court due to an evication notice.

    Now I must state, thanks to NACA, we were able to save money, as we didn’t stop saving once we were approved. We were able to come up with the additional fees needed to close on our new loan. I learned the importance, of saving and purchasing within our means.

    I know this post may seem like I’m rambling, but I’m truly upset that you are trying to make it seem like we did not make a wise decision to wait to close with NACA. I’ve seen several CTC’s where the person actually did not close or there was a delay. Some other obstacle came into play. So, in my opinion, I don’t see NACA often trying to accept responsibility for a person not closing, when it is clearly, their fault. Something as simple as not responding to the builder was the cause of me going elsewhere.

    Charsmalgrat, I appreciate your understanding our predicament. You get it. And I appreciate you standing up for me. Honestly, when I post, it’s basically on an emotion level so I tend to ramble. However, you explained it perfectly.

    Again Tim, I do appreciate your assistance in the past, when I couldn’t get my MC to respond. We were able to move in a week prior to my daughter starting school. We absolutely love our new home and are extremely happy!

    in reply to: A Post for Bruce and NACA Management #2815
    NeedsHelp
    Participant

    My suggestion to those that are just starting the process, make sure you keep every single fax you send to NACA and every email you receive. If you find that you are going to close after May 2013, make sure your extension or IRS payment shows up in your file. Also, make sure you sign the Request for Transcript for previous year taxes, asap. Had my request been request back in May, I would have been able to close with NACA.

    in reply to: I CLOSED!! #2814
    NeedsHelp
    Participant

    You know I’m happy for you!!!!

    in reply to: After 3 years-Almost there, what's next #1897
    NeedsHelp
    Participant

    Huh oh, I too am purchasing in Maryland (Southern) and my file was submitted yesterday to go forward with closing. The home that we rent is up for sale and the landlord gave us notice to move by June 29th back in May and then extended to Jul 31). I hope and pray we close on that date. Not only that, we have a new build and I’m getting the impression, if we don’t close by then, we start payment fees to the builder or the builder has a right to renegotiate the price of the home (we were told this yesterday by the sales manager). I’m working with the DC office. Honestly, I can barely eat or sleep and all I want to do is make sure my file clears with no conditions.

    Just praying there is a light at the end of this tunnel.

    in reply to: My NACA Journey Is Almost Over #1891
    NeedsHelp
    Participant

    Update, my file was submitted to Citi yesterday afternoon. And due to lack of communication between the builder and NACA (the builders fault) the builder thought I was closing today. I fear this next week is going to be a doozy!!

    in reply to: Submitted to Underwriting Today #1856
    NeedsHelp
    Participant

    Sorry, I meant today!

    in reply to: Submitted to Underwriting Today #1855
    NeedsHelp
    Participant

    Good luck tomorrow.

    in reply to: Submitted to Underwriting Today #1634
    NeedsHelp
    Participant

    Channon, I am sitting here saying a prayer for you, that things work out and you close on Friday. Hang in there. I know this will work out for you. I know you are keeping the faith!

    Packed and Ready, I’ve been praying for you as well. You truly have a great attitude regarding this process. You always stay upbeat and positive. Miracles do happen!

    Good luck to you both!

    in reply to: I can't do it anymore… #1271
    NeedsHelp
    Participant

    All, RP is my counselor and all I can say is . . . don’t give up. Seriously, dont. I totally understand what you all are saying. RP is one of the best MC’s in NACA. You are right when you say he should have left an out of office message, etc., but truly these counselors are overworked. I did have a counselor send me an email staying he was out of the office and she would help while he was out. Unfortunately, because she didn’t use my membership number in the subject line, I totally disregarded the message until I sent him an email and wondered why didn’t respond. I had another counselors name and did a search in my hotmail account and that how I found out she sent me an email 3 weeks ago. Of course, she has NOT responded to my request. I’ll give her until Monday.

    The key to NACA is you really want a home. You are willing to have the patience to work with them.

    I was in your shoes 6 months ago, literally ready to give up after year of paperwork and meetings. I’m happy to say, after one extension, I will be closing on my new home next month, interest under 3.0%. NACA really works.

    in reply to: Prior Foreclosure #1189
    NeedsHelp
    Participant

    I should have also stated we started the NACA process in December 2010. We pre-qualified in February 2012.

    in reply to: Prior Foreclosure #1188
    NeedsHelp
    Participant

    I was in the same situation as you. Forclosed 2008. We are now under contract for a home in the DC metro area. We hope to close the end of July. NACA really does work and I cannot stress enough, patience is the key word!

    in reply to: Submitting to Naca before submitting an offer #1187
    NeedsHelp
    Participant

    I found once we were pre-qualified, I received responses from my MC right away regarding cost estimates for the home. This was done in order to get your bank application submitted as soon as possible. You should provide the following to your MC from seller/builder:

    Total price:
    Year taxes:
    HOA (Yearly):
    Sellers Contribution:

    Good luck!

    in reply to: Prior Foreclosure #1185
    NeedsHelp
    Participant

    I would get the get the ball rolling now. NACA will allow you to purchase after 3 years of foreclosure. NACA is a extremely time comsumming so its better to start now, than wait for your actual 3 year period. It can take anywhere from 6 months to a year to get qualified. Good luck!

    in reply to: student loans #1076
    NeedsHelp
    Participant

    Soanxious, your MC is absolutely correct. My husband has student loans as well, he had them all consolidated and we had to submit a standard payment letter provided by the student loan company. This was the biggest hold up for us when we were trying to get qualified. Find out from your friends if they have a consolidated loan and ask them to show you a copy of what your letter should look like. Good luck!

    in reply to: Citi "clear to close"? #707
    NeedsHelp
    Participant

    Congrats all. Nupe I’m truly happy for you!

Viewing 15 posts - 1 through 15 (of 19 total)