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Very sorry to hear about your experienced, Believe me I know how do you feel. Because I purchased my home with NACA 8 years ago let me tell you the process only took me 3 months this is my first home and everything they claim to do on their website is a bunch of lies, I would get me my lawyer to represent me but they lied that their lawyer was defending my interest and I only had 3 appointments{ 1 to sit down with the counselor to go over the budget , another time to drop off the paper work, and the other to attend one of the meetings and when the 3 months came to sign the final papers and get the key i meet up with the lawyer for 5 minutes have me sign a whole bunch of paper that what he explain to me was not what the paper says i trust NACA because I thought their were standing behind their word, but now I'm paying the price and they are not there to help, They are a bunch of lairs they even took about 15,000.00 for me which I find out that the program was suppose to be ZERO MONEY DOWN.

The whole team work together and they know how to tell you their own version to make you believe there are on your side especially when they know that English is not your first language they think one is *** and ignorant like them. But I will not let Them play me because i work very hard to saved up my money and besides what they took from me as a single parent with a little child they put me in a house that need it a lot repair and with lead paint they took over 20,000 on top of my mortgage to fix my home which it has been 8 years I'm still waiting for a statement to show how much money they used on the repair also I'm still trying to login to their fake website to check my account because every time i actually get them to answer the phone they gave me some no good password i have tried everything. NO HELP NO ANSWER. I have millions complains about this NACA that i need i whole year to tell everyone my experience from start to where I'm at the moment. I worked for 2 years sacrifice my little girl put my school on hold, save up 52, 000,00 My credit was only 601 at the time, I ask someone about a real estate he sent me to an Agent, than this agent send me to his Friend which he was a NACA counselor that was the first time I heard about this lairs. It took me 3 months and 3 appointments to get the counseling, meting, and give them all the required documents and then i got approved and they actually help find my house, them i got a called to come and get the key sign all the paper work about 5 minutes.. The story goes on on. MY ADVICE TO EVERYBODY IS TOO TRY TO STAY AWAY FROM THIS PEOPLE, THEY ARE A BUNCH OF LIES ALL THEY DO IS TAKE YOUR MONEY THEY DON'T HELP YOU AT ALL, ALL THOSE PUBLICITY OUT THERE IS THEIR OWN PEOPLE.

no money down -------------they took about 15000 + 23000 on top of my mortgage

live on your home for 10 years--------------lied as long as you have their mortgage you have to live in their home or you will get 25 000 fine and they will foreclosed on your home

every month you pay 50 membership--------------to help you in case you have problems but you be lucky if they answer the phone. My BIG ADVICE TO ALL THOSE THAT PURCHASED A HOME FROM THEM DON'T NEED TO TAKE MY WORLD FOR IT, HERE'S WHAT YOU DO GO TO YOUR HOME DEED DEPARTMENT ON YOUR TOWN AND GET A COPY OF WHAT EVER THE PAPER WORK YOU CAN FIND IN YOUR HOME, AND PLEASE i would like to know what you think about the NACA after you get your surprise. and i will keep all in my prayers that you don't find the same surprises i found out when others in my home town give me this advice I want everybody to help spread the word, Please have your document checked before something happens to you. Please protect what is yours you work had to get where you are to let NACA take what belongs to you. PLEASE FIND REPUTABLE AGENTS PLEASE DO GET YOUR LAWYER ASK QUESTIONS DON'T LET WHAT HAPPEN TO ME TO HAPPEN TO YOU TOO BECAUSE IT WILL COST YOU A LOT'S HEADACHE AND MONEY. NACA IS A VERY VERY VERY BAD ORGANIZATION THAT MAKES FALSES PREMISSES AND THEY DON'T FOLLOW THROUGH.

Reason of review: Poor customer service.

Location: Hanson, Massachusetts

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NACA Online

What is sadly obvious here is that the member failed to admit that they may not have understood the details of the process and now wants to deflect the blame on to NACA with outrageous, vague and confusing claims. The member even makes a threat that โ€œI would get me my lawyer to represent me butโ€ฆโ€, and then gives no valid reason for needing a lawyer but instead makes another outrageous accusation.

The member appears to deliberately attempt to confuse two different aspects of the NACA program to manufacture a false complaint with โ€œlive on your home for 10 years--------------lied as long as you have their mortgage you have to live in their home or you will get 25 000 fine and they will foreclosed on your homeโ€.

The 10-year reference is obviously about the required contribution to the Neighborhood Stabilization Fund, which provides direct assistance to members who are facing short term hardships that affect their ability to make their mortgage payment. This is completely separate from the requirement that the homeowner live in the home for the entire time they have the NACA mortgage. This requirement and the $25,000 lien on the home exist for the sole purpose of ensuring that property investors to not take advantage of the NACA program, which is designed exclusively for owner-occupants.

Unless the homeowner intends to violate that agreement by moving out of the home and using it as a rental property, they have nothing to worry about regarding the lien.

If the member wishes to refinance or sell the home, there is absolutely nothing to stop them from doing so.

The NACA lien places no restrictions on those actions. It only requires the member to live in the home as long as they have the NACA loan.

The statement that โ€œโ€ฆthey put me in a house that need it a lot repair and with lead paint โ€ฆโ€ is clearly an attempt to deny the fact THE MEMBER chose the house. The member also conveniently leaves out the fact that the repairs and lead paint to which he/she refers would have been pointed out in the inspection report that was provided BEFORE they closed on the house. The claim that โ€œthey took over 20,000 on top of my mortgage to fix my homeโ€ is a reference to the fact that since the seller was apparently not willing to make the necessary repairs to the house, we were able to build the funds for the repairs into the loan.

NACA did not โ€œtakeโ€ anything as the funds were used exclusively for the repairs. Any funds that are not used are returned and credited against the balance of the loan. Any relevant documents can be obtained through the NACA Home and Neighborhood Development department at 210-319-2978. The member even goes so far as to try and turn the fact that they got through the NACA process quickly and smoothly into a complaint, completing the process in just three months even though they had a 610 credit score.

Getting a mortgage anywhere else would have been virtually impossible, yet the member completed the process in 90 days and got a fixed, below market interest rate with no down payment and no closing costs. The truth is that every facet of the process and the details of the loan were explained well in advance of the closing. If a language barrier caused the member to not fully understand the terms of the agreement which they signed, the member only had to speak up and say that they needed help in understanding the details. An outside interpreter of the memberโ€™s own choosing would have been welcome, and certainly would have been a better alternative to entering into a legally binding agreement without understanding it, then trying to deflect blame on to someone else.

If the member still believes they need clarification on the different aspects of the NACA program, we will still be happy to assist, even eight years after closing on the home as the member claims.

I suggest the member contact the NACA Legal Department at 631-370-6222 so they can understand that the things they are trying to interpret as problems are actually advantages that every homeowner receives through the NACA program. Tim Trumble Online Operations, NACA ttrumble@naca.com

Guest
reply icon Replying to comment of NACA Online

Three months to close with NACA is a blessing !!!!!

Guest
reply icon Replying to comment of NACA Online

since you are feverishly responding to so many peoples complaints... what about the membership fee? is that true?

Guest
reply icon Replying to comment of Guest-1015186

The membership fee used to be $50 per month which was used for the fund to assist member who were in danger of foreclosure. However that has now been decreased to $20 per year only until a person closes on their home. I learned this from reading on the NACA website and I went to information meeting a few days ago.

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