Sobe420

Anyone heard of NACA?

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I was watching CNN a couple of weeks ago and they said something about NACA. I went to their website and signed up for a workshop. The workshop is a 2 hour drive from here.

I have been told from 3 different brokers that its a no go because I am considered a layered risk. Low Credit scores, no assets, and small downpayment.

NACA says that problem credit is ok and etc...

We want a house bad so I guess the 2 hour drive is not a big deal. But I wanted to see if anyone has any advice or heard of NACA because I am so focused on getting a house that I do not want to get screwed over.

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After the info session you will be scheduled an appointment to discuss your personal goals. There is 20.00 yearly membership fee. If you have some savings and your collections are over 3 yrs you can write explainations for those. I enrolled in April but have not qualified yet because on my own personal plan I need to save at least 1000 dollars a month for at least 3 months and have about 6000 in savings. As a single mom of three kids I havent been able to save much. I wanted a home asap too, but what I want is not a need!

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I just read their website last night........their exposure in Mass is growing........

has anyone here ever refinanced with them? I need to find a 30yr fix with someone who will overlook some of the credit issues.............

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I just read their website last night........their exposure in Mass is growing........

has anyone here ever refinanced with them? I need to find a 30yr fix with someone who will overlook some of the credit issues.............

Try to get refinanced with FHA. Low 30 yr fixed rates and also can go up to 95% loan to value cash out or no cash out. They are not score driven. Just can't have any late payments or NEW collections(a lot of these can be back-dated since they are put on your report multiple times from when the original creditor had it) and even judgments that you have made payment plans with and paid on time for 1 year can just be included in your debt to income and not have to be paid off.

I think NACA is another way for someone to make money on people. I would talk to several mortgage people who KNOW the loan programs inside and out, before signing up with a company like that.

Most everything they will tell you for a fee, is something you can get for free!

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NACA is a very good program to get acquainted with. I have referred several people to them for rescue from predatory lending practices by others.

They also offer low interest mortgages for new homeowners. The interest rates that they offer are much lower than market interest rates, and cannot be matched or beat (if qualified) by any broker, bank, FHA, etc.

Their main mission is to boost homeownership to those who otherwise may not be able to afford housing. Well worth the $29.95 annual fee.

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