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  • #78979
    Firsttimer93
    Participant

    How does one navigate this? I am by no means complainging, just looking for suggestions. On Friday (March 25th) our MC said he’d work on our file over the weekend to submit Monday (March 28th) for qualification. On Monday, we reached out and he said he’d work on our file to submit by Wednesday (March 30th). Yesterday I once again reached out and he says he will work on my file. How can I politely nudge him to get me submitted?

    #78984
    Firsttimer93
    Participant

    Any suggestions or insight from someone who may have had a similar experience would be greatly appreciated!

    #78985
    Nelsont
    Member

    Ask if there is anything you can do to help him move your file along.

    #78986
    Firsttimer93
    Participant

    That has been the strategy since Friday. It seems the generic answer tends to be “I’ll work on it today”.

    #78987
    Firsttimer93
    Participant

    Finally submitted fingers crossed.

    #79089
    TTrumble
    Member

    Hello Firsttimer93,

    I’m sorry that happened with your counselor. The unpleasant fact is that NACA counselors carry a very heavy workload and there’s actually very little we can do about it.

    Occasionally a counselor will make a perfectly well intentioned promise that “I’ll work on it today”, and simply not get to it because they have so much else to do. It’s not a “generic promise”. Should the counselor have made that promise? Of course not. By the same token, it wasn’t meant to mislead you either.

    You actually did the right thing by being a “polite pest” with your counselor, something I have encouraged our members to do since the days of the mortgage crisis. Be relentless, just be nice about it. You kept it top-of-mind for your counselor and it got the job done. Squeaky Wheel and all that.

    Let us know what happened in underwriting and keep us updated on your progress.

    Tim Trumble
    Online Operations, NACA

    #79096
    Firsttimer93
    Participant

    Thanks for the response @TTrumble, I appreciate it. Underwriting came back with conditions. The condition was the 3rd payment shock. We are in the process of trying to get some sort of higher up approval to accept the 3rd payment shock through alternate documentation as our official statement doesn’t close until the 24th of this month. I know its been done before, found a post on here, but we have yet to hear anything from a manager. We are moving out of state at the end of May and we are trying to avoid having to commit to a new lease in a high rent area (hence why we are trying to get some sort of manager approval). Third payment shock has already been put into savings. Any suggestions or insight that can help us?

    #79161
    Firsttimer93
    Participant

    Bump

    #79208
    Firsttimer93
    Participant

    Well I unfortunately could not get anybody higher up to assist with the final payment shock issue and ended up having to wait until the statement officially closed which it has. Uploaded it and now I’m being told I will also have to wait for the most recent Checking account statement to post which isn’t until next month. My checking statements close around the 2nd week of the month while savings closes at the end of the month, It seems this will cause a bunch of back and forth with underwriting. Unfortunately I’m going to have to step away from the naca process for another year as I will most likely have to commit to a new 1 year lease.

    #79211
    Kristijay
    Participant

    Unfortunately there is no way to rush through the process. Payment shock is calculated by evaluating the spending of your monthly income. Monthly income- spending= savings. So while you may have provided 3 months of your savings account statements, you will need to demonstrate that you have also budgeted appropriately through your checking account statements. Once you are qualified you may be allowed to provide a transaction summary as proof of funds/ balance, but there are no shortcuts prior to qualification.

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