June 29, 2020 at 4:24 pm #69853jkaz1Participant
NACA is a great program that affords people with a chance at home ownership at a great rate. I have been in the process for over a year and a half.
I started this with hesitance b/c of all the horror stories but I knew of some successes b/c my daughter has helped so many with the process and she said she would help me so I decided to try it and went to the meeting Feb 2019. It has been the one of the most traumatic and unnecessarily disappointing experiences of my life.
Highlighted Time Line of Delay
Aug 2019- Our NACA Counselor told us we were ready (having 6 saved months payment shock) and she just needed to send our Employment Verification. (for 7 months we are in limbo, apparently she quit NACA- no one told us- We had to do so much and try so hard to finally get assigned a new counselor in November )
March-2020- Our New Counselor finally submitted and received Employment Verification, submitted file to underwriter several weeks later. Assures us that everything was good on our end
End of March 2020- Calls to tell us of Underwriter Condition of increased PITI- apologizes for giving us the incorrect Payment shock-
May 2020- Once conditions were met, We stress to counselor we wanted a meeting the 1st week of June to make sure everything was good, reluctantly, she schedules a meeting but after many attempts to reach her she cancels the meeting with us saying it was not needed since she was just resubmitting to Underwriter.
End of June- We find out (through our new NACA realtor) that our counselor has not submitted anything.
Currently, we are so besides ourselves, because she did communicate with our realtor and wrongly told him that the file was delayed because we did not meet the PITI and that the savings that we did have was from an outside source. (I couldn’t believe it) however, emailed us the same day saying we did an outstanding job with payment shock and then preceded to request the same documents that she had asked for and received 2x earlier that month.
We are still waiting for our counselor to resubmit our file to the underwriter since our conditions were met June 1. We have emailed/called member services called the Atlanta offices countless times. It’s almost as if she doesn’t want us to advance.
My biggest concerns has been communication and being given wrong information. Our counselor gave us the wrong payment shock which caused the the condition from the Underwriter, which set us back months but we overcame and met the only Condition June 1.
I understand we all are busy but to let my case be idle for a month when we already been to the Underwriter and to then then tell our realtor false information about our file when asked what the hold up was…. I have everything ready (and have for months) over a 700 FICO credit score and almost $20K in payment shock savings since we started this process.
I want to quit but we have invested so much of our time and energy, and I know the end product is worth it but
I feel so neglected and not advocated for. I have called the offices, left messages, emailed everyone and even spoke to BRUCE MARKS in person and told them this and he said they would escalate our file and still, nothing. I have documented all of this but I don’t know what for.
All I want is someone to advocate for us for my counselor to submit the file so we can get approved, can close this chapter and move on with our lives.June 29, 2020 at 6:01 pm #69860
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