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    HI ALL





    Here’s my timeline!

    My Timeline:

    Dec. 1 – Homebuyers Workshop
    Dec. 4 – Received NACA ID
    Dec 11 – Everything uploaded
    Jan 9 – Intake Meeting Uploaded other documented listed as Homeownership Ready & sent out renter/income verifications
    It was at this time we thought it was gonna take too long because they needed by husband’s 30 day employment verification because he started a new job, but for a new construction it needed to be started 6 months in advance. 
    We decided to go back to NACA & our builder cancelled our contract per NACA but said they’d keep building and if NACA fell through they’d just put it back on the market. They gave us 90 days to submit a new Purchase Contract. 
    Feb 15 Signed Verification Sheets
    Feb 15-26 Submitted lots of the paperwork & tons of back & forth 
    Feb 27th – Submitted for approval
    Mar 4 Given conditions, submitted them same day. 
    Mar 8 Qualified
    Mar 9 Volunteered at NACA Homebuyers Workshop (YOU MUST VOLUNTEER BEFORE YOU ARE QUALIFIED or sign up to volunteer beforehand)
    Mar 14 Purchase Workshop
    Mar 15 Submitted P&S Contract & Locked in our rate 
    Mar 23 submitted for credit access
    Between 23-4/3 went back & forth with underwriting. Our MC escalated to regionals. They’re on your side
    Mar 28 Initial Appraisal Conducted – $5,000
    over purchase price
    April 4 signed bank application
    April 19 Bank Conditions
    April 20 Conditions Met
    April 29th Construction walkthrough scheduled for end of July (now just waiting to close)
    May 15 Got HOI
    May 28th Switched closing coordinators
    May 31st House completion CO sent and final appraisal ordered
    June 5 Appraisal Done
    June 13 UW CTC
    June 13 Asked for page 5 signature for CTC
    June 28 Final walkthrough
    July 7 CTC – Final
    July 9 – cD sent
    July 10 – updated CD
    July 15 – Closing

    I closed on my exact date.


    My Timeline
    4/7/18 – NACA Intake Workshop
    8/27/18 – First Appointment with Counselor
    10/27/18 – Attended Achieve the Dream
    1/29/19 – Appointment with remote counselor
    2/9/19 – Completed Volunteer Work
    5/16/19 – NACA qualified (never received notification, just logged in and saw it)
    5/16/19 – Purchase Workshop
    5/30/19 – Requested Property Approval
    5/31/19 – Offer Submitted
    6/3/19 – Submitted Contract
    6/5/19 – Inspection Completed
    6/10-6/13 – Credit Access Requested, not certain which day
    6/17/19 – Loan Disclosure Received
    6/17/19 – Required Repairs Received from Hand
    6/21/19 – Credit Access Conditions Received
    6/23/19 – Contractor uploaded wishlist estimates
    6/27/19 – HAND Declined request to add wish list items
    7/2/19 – Re-inspection
    7/2/19 – Appraisal Received
    7/7/19 – Re-inspection Uploaded
    7/8/19 – HAND cleared
    7/9/19 – Credit Access Approved
    7/9/19 – Bank App Signed/Submitted
    7/9/19 – Credit Pulled by Credco BAC5
    7/10/19 – Attempt to get insurance, get declined by several carriers because of 45K flood claim on house
    7/11/19 –Credit Pulled by Corelogic Credco
    7/12/19 – Decide to proceed after seeing claim info from seller/repair receipts
    7/13/19 – Lender Conditions Received
    7/16/19 – All Lender Conditions Addressed, pending title info
    7/17/19 – Title Info Uploaded, tentative closing scheduled 7/26/19
    7/17/19 – Requested seller pay for and facilitate mold test due to basement flood
    7/19/19 – Lender Conditions Received
    7/22/19 – Lender Conditions Addressed and resubmitted
    7/23/19 – Closing Disclosure (CD – Received)
    7/23/19 – CD Signed and Returned
    7/23/19 – Final Clear to Close Issued (Webfile Status Still Reads: Mortgage Process)
    7/23/19 – Closing Scheduled for 7/30 at 3 pm
    7/22/19 – Seller Agrees to Mold Test, I request expedited results
    7/29/19 – Seller fails to expedite, Mold test comes back positive
    7/30/19 – I cancel closing, request seller cover mold remediation
    8/1/19 – Contract extended, remediation begins
    8/5/19 – Remediation completed, mold retest completed, this time expedited
    8/7/19 – Mold test comes back clean, I contact NACA to reschedule
    8/9/19 – Closing agent contacts attorneys to reschedule close, scheduled for 8/13 at 10 am
    8/13/19 – Attorney finds issue with property pin numbers at closing, we sign, but title company refuses to fund
    8/13/19 – Title company researches and finds out the description on the county records of the property is incorrect and has been since 1986 when rear alley way was permanently closed and divided among the two adjacent properties.
    8/14/19 – Attorneys try to figure out how to make it work, come up with agreement that seller will pay for new survey of neighbors land and attorneys together will get it corrected
    8/14/19 – Settlement attorney refuses to fund until a written agreement is drafted and executed. Has to be received by end of day otherwise funds have to go back to BOA and closing rescheduled again with new numbers.
    8/14/19 – Agreement drafted and executed by myself and seller, funds released, and officially closed.
    8/14/19- 4:18 pm text received that said NACA Alert – You have a status update – your new status: Closed.


    Wow @clevelar!!!! That’s a lot, CONGRATULATIONS and thanks for sharing you guys:)


    Congratulations all.

    Keep the encouraging stories coming…


    Hi all

    I finally Closed. I am so grateful
    My NACA time frame from start to finish was 5mos. I stayed on top of everything. I had an amazing MC, and great NACA office. I want to encourage everyone, the NACA Program is effective, and really works. Don’t give up; if you remain a proactive polite person, you will get through it. The dream of homeownership is avail to all if you want it with NACA.

    Please keep sharing your success stories.


    Congrats @2BEFREE. Happy for you!!! I’m getting close and it’s encouraging to see others getting there!!!!


    02/09/19 attended the workshop in Cleveland
    02/13/19 called the local office for intake (no available appointment till 03/26)
    02/22/19 Called the office again. One cancelation drove to Cleveland for an intake session.
    03/04/19 phone call appointment with MC.
    03/09/19 Volunteered for the workshop in Pittsburgh
    03/18/19 Got qualified
    03/21/19 Purchase workshop
    April, May, June: Searching for a house
    05/14/19 Found a real estate agent worked with NACA (very rare in my area since there is no local office here so far)*****
    06/21/19 Find a house, asked the MC for PSL
    06/24/19 P&S contract signed (closing date: 07/30/19)****
    06/25/19 Drove to Cleveland to make sure everything is ok with the contract*
    07/01/19 Inspection is done
    07/02/19 Got the correct contract signed by the seller with their real names.
    07/02/19 Inspection report is uploaded by the inspector
    07/03/19 loan estimate received from MC–>proceed with the loan
    07/05/19 Bank loan number is registered. Appraisal is ordered.
    07/05/19 HAND got back with required repairs.**
    07/08/19 Sent the repair request to the sellers
    07/10/19 Received the loan estimate from BOA in the mail
    07/10/19 Credit access is submitted
    07/12/19 Got an email that appraisal report is uploaded (can’t see it so far)
    07/12/19 Credit access is approved (status changed)
    07/16/19 Bank application is submitted (both new credit report and appraisal are available in the web file) (status changed to mortgage process)
    07/17/19 Received the appraisal hard copy from BOA.
    07/18/19 Sent the updated HOI to MC***
    07/18/19 Credit report was pulled from Credcobac 5
    07/19/19 Received a corrected loan estimate (adjusted interest rate and buydown)
    07/19/19 Lender’s condition received (rent payment) and addressed the same day
    07/22/19 Another set of lender’s condition: title document
    07/22/19 Received a big envelope from BoA.
    07/23/19 Contacted title company (asked from CC for their info) to have a copy of title documents
    07/23/19 Re-inspection is done
    07/23/19 Received credit report from BoA in the mail.
    07/24/19 Lender’s condition: incomplete title documents + incomplete P&S contract document (CC addressed the latter right way since the document was on my webfile already)
    07/24/19 Re-inspection report is submitted to HAND
    07/24/19 Contacted CC to have a commitment letter from BoA
    07/25/19 HAND Waived/cleared the repairs. (Rehab specialist called me and discussed the situation)
    07/25/19 Addressed all conditions
    07/25/19 CC sent the commitment letter, it shows up in my webfile as well.
    07/26/19 Status from MC: underwriting clear to close, awaiting lender clear to close
    07/27/19 Received the initial closing disclosure and set the closing for 08/02/19
    07/31/19 Sellers didn’t respond on time to confirm the closing date (pushed back to 08/05/19)
    08/05/19 Closed and got the keys!

    * A company owned the house with the company’s signature on the contract. It should be a real person’s name on the contract (someone like the business owner or the attorney). In this case, you also need the operating agreement from the seller and submit it to your web file.

    ** You need to ask the initial inspector to come and take a look at the repairs (my inspector charged me $325 for home and pest first time and $100 for the re-inspection). One of the items in the HAND required repairs was “communicate whether code violations are present, to clear this required line item”. For this, you need to contact the city and the county for code violations and if nothing exists, write a letter to HAND specialist with the property address, your name and NACA ID stating that no code violation is found. It is good to put the contact information for the person in the city in your letter as well.

    *** Here is the comment from BOA regarding HOI: We need the homeowner’s insurance declarations page for full loan amount reflecting 100% replacement cost along with annual premium amount scanned into the insurance tab. Please ensure it includes the agents contact info and that the mortgagee clause is written as: Bank of America N.A. ISAOA / ATIMA PO Box 961291 Fort Worth, TX 76161-0291 Loan # XXX

    **** You (or your realtor) need to upload the following: MLS, RPD, copy of earnest money, the contract itself, lead paint (if necessary) and operation agreement from the seller (if the house is owned by a company)

    ***** Your real estate needs to put your information on their webfile and upload the buyer agreement as well.


    I posted when I closed but since this is a new topic I will post my success. Timeline from start to finish was 68 days!

    Below is a brief timeline of my NACA journey along with additional details. My starting point was a BK7, student loans in IBR with a $0 payment, and buying a foreclosed house.

    October- Went to NACA workshop.

    11/10/17 – First intake apt. Only items on action plan were a letter stating why I filed BK7 and a printout of my voter’s registration. Had this back to my MC within a few hours.

    11/13/17 – Mortgage Counselor submitted file to underwriting.

    11/16/17 – Underwriting approved and was able to get in the Purchase Workshop that evening. I got the call at 3pm that it was approved and the class started at 6pm. I made the 2 hour trip to get in the same day. I brought in a MLS of a house I had my eye on for a while. The people were selling it a few months prior but it was now a foreclosure. After the workshop my MC gave me a printout of 3 separate property specific letters to take with me, each with a different offer I planned on asking for.

    11/17/17 – Looked at the house and made initial offer. Listing was for $94,700. Offered $84K since it was a foreclosure (tried getting a deal). Went back and forth with a few counter offers and this part took longer due to the holidays and settled on $90,700 with the seller (Freddie Mac) paying 3% toward the interest rate buy-down.

    11/27/17 – MC emailed me a new property specific letter with the new $90,700 and 3% details. Gave the letter to the real estate agent and I then signed the P&S contract and gave $500 escrow check. As soon as I got home I called the home and termite inspector that I had been looking into. I had been looking around for home inspectors prior and finally found one who was already NACA approved. He was over an hour away but agreed to do the inspection. Also set up a termite inspection for the same time as the home inspector.

    11/29/17 – Home inspector and termite inspectors came and then I emailed the P&S contract to my MC with the seller’s signatures as well as the termite report. There were a few addendums that needed to be addressed such as a Radon report and sellers initials on a couple pages. This was done back and forth via email between myself and the realtor. Because of this it took a few days.

    12/5/17 – Submitted Bank Application. Interest rate was 3.625% so with the 3% buy down I am locked in at 2.875%. Secured homeowners insurance later that day.

    12/6/17 – Hand Cleared. There were two minor issues that I was able to send a letter back to HAND that stated “waive” on them.

    12/22/17 – Finally got the appraisal back and it came in at over $124K so we go into this house with over $30K worth of equity. Waiting on the title now. I now know why my initial $82K offer was rejected.

    12/28/17 – Title finally came back. Since it was a foreclosure it took them a bit longer to verify all the information.

    1/7/18 – Status UW Approved.

    1/9/18 – UW CTC.

    1/10/18 – CTC-Final. Received my closing disclosure and to my surprise I was getting $500 back at closing. My initial cash to bring at closing was $1400 which depended on home insurance and taxes. Closing set for 1/16/18 (MLK day 1/15).

    1/16/18 – Closed on house. Took all of 20 minutes to sign the papers.

    The total amount out of my pocket was $500. That was $400 for the home inspection and $100 for termite.

    Here is a little background as my situation is probably different that a lot of people. I had several things working against me to begin with but I was determined to get me and my boys into a house. This may be long but I want to help as many people as I can. I filed BK7 in July of 2015 due to me filing divorce from my wife. I have full custody of my 4 boys and it has been just me and them since 2009 since she picked other things over her family. My BK7 was discharged 11/10/15. I already had a plan to buy a house in 2 years and I had my eyes set on a FHA loan at the time. To do this I made sure I got my credit score up. While trying to get my credit score up I went to Myfico site and was researching mortgage loans when I saw a NACA thread. This was about a year after my discharge. I read the posts and contacted TTrumble and asked him a few questions. We exchanged a few emails about the NACA program and he pointed me in the right direction. From that point on I researched everything I could find on NACA.
    20 months after my BK7 was discharged my credit scores between the 3 bureaus were 701, 714 and 725 with perfect payment history and over $50K worth of Credit Cards that I paid if full when I used them except keeping a small balance on only one of them. I also have $63K in student loans on an IBR plan at $0 a month. My income in a bit over $40K and rent was $500 a month. No car payments as I paid in cash with an Income Tax refund in 2016. This is what I went into the NACA process with.

    I waited until about a month before my BK7 would be discharged to attend the purchase workshop. At the purchase workshop I found out that when paying in full on my credit cards that counted as payment shock. I was already saving an additional $300 a month starting 6 months prior but this was a bonus. At the purchase workshop they set me up with an appointment a week away at the local office. I lived over 2 hours away (I’m in Illinois and the office is in St Louis) so I told them I like to do all of this over the phone. Because of that my initial intake was set for 11/2 which was fine as it was close to my 2 year discharge day. The funny thing is at my phone intake the mortgage counselor could not process my check payment over the phone. There was an issue with the routing number. They set my next appointment up for the following week which was 11/7/. 11/7 came and still there was the same issue with my routing number. I immediately called the St. Louis office to see when the soonest I could go in to do my initial appointment and they had an opening for 11/10. This ended up being perfect as that was exactly 2 years since my BK7 was discharged. I felt things were lining up for me and it ended up being the best thing that happened for my situation.

    At my initial NACA intake I had everything that they asked for except for my letter that stated why I filed BK7. I had all my papers separated and sticky noted. From Tax returns to every tax transcript that I could get from the past 2 years. Even if I did not know if I needed to bring something in I still brought it. This sped up the process quite a bit as well as having perfect credit since my BK7. I also had a letter from my student loan lender (Fedloan) stating how much my payments would be if I were on the extended fixed plan. Since NACA cannot use a $0 payment this was something I already researched.

    Everything after the intake was done over the computer except for the purchase workshop, and closing. I used a non NACA realtor who was the realtor for both me and the seller. There were no NACA approved home inspectors around and none of the ones I contacted wanted to become one. Luckily the guy I contacted from the NACA list agreed to come down over an hour away. He worked with NACA one other time and did not have any issue doing it again.

    A lot of people complain that the NACA program is too slow and the time it takes. Going though it I know why it takes longer but luckily I was prepared well in advance. For instance if you filed BK7 and you had perfect payments for 20 months and then month 21 you had a 30 day late, guess what, the clock starts over. It is up to the individual how motivated they are in my opinion.

    I was luckily also that I work in an office and have access to a computer, printer, and scanner within arms- reach. As soon as I got an email from my MC I had what they needed back within minutes. A few examples were a LOE of why middle name was on my credit report and a better signature on a scanned document. If it wasn’t for the holidays this would have been done even sooner. So with as much things were against me NACA still got me in a house in days from start to finish very quickly. My payments with home insurance and taxes are right at $652 a month. Another thing I had going for me which was very important was the dedication the St. Louis office Jon and Morio. They were on top of everything and I never had to resend any documents as they had everything put in the first time. When I was in the closing stages I only communicated with my closing counselor via email maybe 2 or 3 times. Both John and Morio made sure everything was getting put in and communicated until the very end. I cannot thank then enough.

    • This reply was modified 2 years, 11 months ago by bears85.

    Hello all!
    Here is our NACA Timeline. I tried to go into a good bit of detail, I encourage everyone who has gone through the process to share your timelines. IT helped me so much reading them this year!

    – Read about NACA online on 12/19/2018. Signed up for 1/26/2019 workshop same day.
    – Workshop attended on 1/26/2019. Asked for an appointment ASAP and 6/05/19 was apparently earliest we could do.
    – Received NACA ID on 3/07/2019 (not sure what took so long here). Uploaded documents until intake and continued to build up MRF and Payment Shock.
    – Intake Appointment at Chicago office on 6/05/2019. Got our action plan, had to get our debts into a NACA approved payment plan. We did this on June 7th. Set a follow up appointment with our counselor for September 5th.
    – Found out that Chicago was having an Achieve the Dream Event on from 9/05 to 9/08. Counselor confirmed that we would have to change our appointment as he would be at the event. Signed up for the 9/07 ATD event on 7/30/19.
    – Talked to a real estate agent and toured homes on 9/01. You typically shouldn’t tour homes before being NACA qualified, but we figured we were going to be qualified at the event the next week, which we were.
    – Attended the ATD Event on Saturday 9/07. Eventually our actual counselor arrived, and we finished the process with him. Got qualified by underwriting at the event and then attended the Homebuyer Workshop all the same day. Wife and I volunteered at the event as well to get a volunteer credit out of the way.
    – Realtor took the RED webinar to become NACA qualified on 9/10, I got a Homeowner’s Insurance Quote that day, and we attempted to put an offer in on our #1 home on this day. Our MC said he could not approve a Property Specific Letter because of some mix up thinking we were not Priority Members in our MSA.
    – 9/10 – 9/17 back and forth between our MC regarding the MSA mix-up, I got a hold of Tim Trumble eventually who told me to get in touch with regional director. I did this and he said I was correct on this issue and said he was instructing our MC and Office Manager to correct it. This happened later that afternoon and after all the confusion, we finally got our Property Specific Letter and made our offer on 9/17.
    – Back and forth on negotiations took much longer than normal as our seller was in Africa on a safari, with limited access for phone/email. We eventually had a tentative agreement on 9/21.
    – Saw a few more houses on 9/22, as the offer we accepted on 9/21 was very borderline for our affordability, and slightly over list price so we were not sure how it would work with NACA, so we looked at backup options.
    – Signed contract on 9/25, somewhat luckily our realtor apparently uploaded contract to incorrect part of web file. MC said he would process it starting Monday 9/30, as we couldn’t immediately come in for a credit access appointment the next few days and didn’t want to start our 10-day credit access clock too early.
    – Contract processed by MC, loan offer email originated and sent 9/30. Our MC told us as soon as you click “accept” on this email, this is when the bank orders the appraisal.
    – Inspection done on 9/27.
    – Credit Access appointment 10/01.
    – HAND repair List 10/03. Asked seller to take care of the 3 required and 1 recommended repair same day. Seller responded on 10/06 saying required repairs were made and would take care of the recommended repair.
    – Received email on 10/05 that appraisal was done. According to the report, it was done 10/03. Asked MC on 10/07 if he could send us the appraisal as we could not see it in the web file yet. Emailed it same day, and it appraised for just over the purchase price, thankfully!
    – Submitted to Underwriting for Credit Access on morning of 10/10. Credit Access Conditions Received late on 10/11, a Friday. Addressed on Monday 10/14 and sent back to UW. More conditions came back 10/16, addressed same day and sent back to UW.
    – Got the text saying Credit Access Approved early morning of 10/18.
    – Came into office to sign Bank App on 10/21, also brought in some 32 packs of water for the office to count as another volunteer credit.
    – Final repair done on 10/23, re-inspection done 10/24, report uploaded 10/25.
    – HAND Cleared on 10/29. Our inspector really helped us as he called the HAND department and helped it get HAND cleared because they had a few issues with the re-inspection. If you’re in the Chicagoland area, I highly recommend Tony Diggs as an inspector!
    – Lender conditions received and addressed on 10/28, had to call mortgage department as they were not in web file. Received alerts from Credit Karma/Credit Sesame 10/28 that BOA had pulled our credit reports.
    – UW – CTC on 11/06 and verbal VOE’s and CTC Final on 11/07
    – Initial CD on 11/12 ,and Final CD on 11/14. We received the final CD at about 7:30 on 11/14, the night before closing. To our surprise, we were getting a good chunk of money back!
    – Closed 11/15, the seller was being a real pain and the only way we could close is by paying $545 to her at closing with a check. She didn’t want to pay a $50 title fee and wanted to be reimbursed $495 for a land survey. So we paid the $545 and it took over 4 hours to close because the seller wasn’t understanding another issue that took 5 people 2 hours to explain to her. She was a nightmare to say the least but we did it!


    These are great, anyone have any recent timelines?




    7/2017 Attended NACA workshop.
    12/7/2017 First Intake appointment. Was given action plan.
    3/27/2018 Follow up appointment, had to reschedule
    6/4/2018 3rd appointment..needed more tax documents and verification of employment.
    7/5/2018 Was told my MRF amount and that I needed to volunteer before I could be approved.
    12/2019 made Follow up appointment for file submission, next available appointment was March
    3/22/2019 Follow up appointment. Had to update all documents. All items on action plan completed. File Submitted for approval.
    4/9/2019 Underwriter conditions.. Needed Driver’s Licence with current address.
    4/19/2019 Underwriter Conditions.. Needed to volunteer, and submit pay stubs and tax documents.
    05/09/2019 NACA Qualified. Attended Purchase Workshop.
    05/14/2019 Signed Purchase contract for New Construction Property.
    6/4/2019 Ratified Contract received.
    7/11/2019 Received Loan Estimate Disclosure.
    10/30/2019 First appraisal done, home was still under construction.
    12/01/2019 Home completed, final appraisal ordered. Updated bank and income documents sent. New credit report pulled.
    12/06/2019 Appraisal completed.
    12/09/2019 Initial CD received
    12/12/2019 Appraisal uploaded to file, but it was the initial one, not the final one.
    12/16/2019 Final Appraisal uploaded to file.
    12/20/2019 File Changed to CTC Closing. Closing scheduled on 12/23
    12/23/2019 Closing scheduled.. Final CD wasn’t received.. no word from bank.. 7pm Bank responded saying Short funds for closing.
    12/26/2019 Verification of Funds for closing sent to Underwriter for approval.
    12/31/19 CTC received, Final CD received, closed on house.


    Attended workshop 3/23
    Initial Intake Appt 5/17
    NACA Qualified 8/26

    P&S signed 10/31
    Inspection completed 11/1
    Credit access requested 11/10
    Hand cleared 11/11
    Appraisal returned 11/12
    Credit access approved 11/13
    Bank app 11/14
    Bank credit pull per credit karma 11/16
    HOI submitted 11/20
    Conditions given 11/22
    Conditions addressed 11/26
    Contract expired 12/10 (extension requested until 12/20)
    Closing disclosure issued 12/16
    Status changed to ACA send to uw 12/17
    Status changed to CTC 12/19
    1008 issued 12/19
    Status changed to CTC final 12/19
    Extension expired, seller ok because CTC had been issued (12/20)
    Received figures for closing 12/20
    Closed 12/23

    I started the process with the understanding that BOA was behind. We wrote the contract for 40 days as approved by MC, typical time frame is 45 days. Local housing market does not support 45 day contracts, many homes were closing well within 30 days.

    From 11/22 to 12/23 I called and checked my file daily. My file was escalated at least 2x and there was literally no movement (that I could see) from 11/22 to 12/16. Once it started moving it all happened so quickly. I’ve been in the home almost a month and can say its worth the headache 😀

    • This reply was modified 2 years, 6 months ago by cstar89.

    To all the graduates, do you need all the funds in your bank account off the bat? Or can some be sitting in an investment account? I don’t know how much I have to buy down (I have a rough idea), and don’t want to cash out all of my stocks. Can I wait until a week prior to close to cash out my stocks?

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