January 14, 2020 at 11:34 am #64594Peapod0609Member
Concessions you usually can just have the money subtracted as you said, so I am guessing they were underwater on mortgage. That makes sense, i didn’t think of that possibility.January 14, 2020 at 11:35 am #64595
Hello! I see many of you say you did not receive responses from your MC nor regional director… WHO WAS YOUR NEXT MAIN POINT OF CONTACT? Would you advise buyers to keep in contact with Member Services and the Mortgage Department instead, since the MC and RD are only faces for NACA, but not actual contact points while under contract to purchase? My client has had to amend her close date, several times. I am disappointed that I told her about NACA, or moreso that we didn’t get the counselor that I know can make a close happen within 45-days. This has been the worse, but I’ve had some other successful NACA transactions.January 14, 2020 at 11:42 am #64598jprime1609Member
Luckily I just took the day and dropped in and the regional director was there. He admitted he doesn’t answer the phone. The only people that seem to answer the phone is member services, the mortgage processing department and the individual offices. You can find contact info for higher ups online but don’t count on them answering the phone. Once you do email, hopefully you get a reply in 24 hours with relevant information to your question.January 14, 2020 at 11:54 am #64601TylocsMember
We found that the seller paid $350,000 for the house, they put it on the market for $310,000. We offered $310,000 with $5,000 closing cost help. They had a second mortgage with Wells Fargo. I have no idea how they could have not known. After we withdrew our contract a few months later the house was back on the market as a short sell. We watched that house get an offer and it stayed in pending status for a year as we started over with NACA. We cleared to close and that house we tried to get in 2018 is still sitting on the market. I feel bad for that family but happy we could put that nightmare behind us with our current home.January 14, 2020 at 11:55 am #64602NelsontMember
@TexasRealtorMesia if you read through the forums and pay attention to what your client is actually going through you would understand that naca is not the holdup and bank of america is causing the delays irrespective of naca. I can tell you through my experience with bank of america, my neighbor’s and my agent’s entire office bank of america just operates differently.January 14, 2020 at 12:08 pm #64603
Thanks @jprime1609. That’s good intel and a help for everyone who tries, unsuccessfully, to reach someone in the local offices. 🙂January 14, 2020 at 12:15 pm #64604
I can understand if BOA is the issues. Still, communication from naca is key to real estate agents (especially those who are not paid employees of NACA) so that we can keep all parties in the transaction updated (buyer and seller, title company, etc.). In this case, @nelsont, it has been an issue within the naca office. During intake and subsequent meetings, MC’s are provided information that they type into the system. There have been several instances of incorrect information typed into and found in my clients file, which has caused holdups. I’m sure BOA has their quips; however, maybe there would be less quips for them to deal with if they were receiving the correct information from the beginning. And our quips would be easier to explain if we had something to explain.
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