NACA?

[Anonymous]

Has anyone been through the process of trying for a loan modification through NACA? If so, can you please share your experience? Does attending the 4-day events make a difference?

[Anonymous]

We did a home loan through NACA so I'm not sure if this will help but I will share our experience. We weren't the typical NACA clients so we were able to sail through the process really fast (we had excellent credit and stable, but low paying non-profit jobs). We attended a one-day workshop and then submitted tons of documentation. And then resubmitted it a couple times when they lost it. We were really organized and responded to all their requests for information as fast as possible. It all worked out. Actually, it was a fantastic experience...the hardest part was finding a house in a decent neighborhood that didn't exceed the maximum purchase price. They paid our closing costs and we closed on time. Instead of a down payment we bought down our interest rate (there was no down payment requirement). We are supposed to volunteer but we have yet to do it because whenever we call they say they don't need any help and they will call us. It has been three years and no one has ever called.

[Anonymous]

Don't they have a no rental policy? Be careful what you sign.

[Anonymous]

15:39 poster here. Yes, they do have a no rental policy. That was okay with us but may be a deal breaker for others.