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We have been trying to close on the sale of our home for over 3 months.The individuals who are supposed to buy my house are NACA participants and will be homeless if the closing doesn't occur on November 30th.

My sellers have been hanging in there for 3 months. There are a lot of people who have a lot to lose because of the unscrupulous and unethical NACA. They simply string all parties along including their clients, realtors and sellers with no regard for the money and time invested. We regret accepting this offer.

I will be doing some research on lawsuits.

Consumers deserve to know what the consequences are of doing business with this company.I will be writing letters to anyone I have to including all consumer review sites, Consumer Affairs and the Better Business Bureau.

This reviewer shared experience about bad quality and wants this business to offer any options to resolve the issue as the author lost $5000. carol_Murphy is overall dissatisfied with Naca. Reviewer wants customer support to reach our to him or her ASAP for further discussion of this matter.

Also, you can continue reading comments about Naca.

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Rcope1225
#1277892

I am sorry that this was your experience also, please share it on

https://www.facebook.com/NACAhasissues/

Anonymous
Woodbridge, Virginia, United States #1265293

Thank you for sharing this experience!I'm currently going on 1 month of being strung along for NO apparent reason.

The lender has only asked for TWO documents and I am now on my FOURTH closing date. The home is in very good shape. No repairs outstanding. I have excellent credit and this home is several hundred dollars less than my previous rent.

I am so frustrated that I have absolutely no excitement left in being a homeowner.

Anonymous
Lawrenceville, Georgia, United States #1250433

We are currently going through the same thing with NACA!

NACA_Online
#1249097
Naca Verified Representative

We are sorry if the transaction has taken longer to close than expected, but if it has in fact has been three months from the date the Purchase and Sale Agreement, there has been a legitimate reason for the delay.In such cases, the most common reason is an issue with the property itself such as repair issues, failure to appraise for the agreed upon price, or title issues.

While other issues can also cause a delay, the buyer will be well aware of the reason and can inform you so you can work out a solution.

A major item that comes to our attention is the contradictory references as to who is actually writing the above comments. In the first paragraph, you refer to “our home” and “my house” then in the second paragraph you refer to “my sellers”. This was obviously written by a real estate agent attempting to pass him/herself off as the seller. It immediately begs the question of the use of the word “unscrupulous”.

Also, to brazenly refer to NACA as “unethical and unscrupulous” and make wild accusations such as “They simply string all parties along including their clients, realtors and sellers” without even a theoretical reason why we would do such a thing indicates that you know what you have written is at the very least grossly exaggerated.

Additionally, your statement “I will be doing some research on lawsuits” also suggests that you are making knowingly outrageous statements becuase any and all means of recourse if the sale is not...

As far as filing complaints are concerned, you might want to know that Consumer Financial Protection Bureau Director Richard Cordray visited or Boston headquarters on October 25th and praised our efforts on behalf of American homeowners. Regarding contacting the BBB, since you are clearly the real estate agent and not the actual seller, it’s not your complaint to make. You are not the consumer. Unfortunately, this real estate agent attempting to impersonate the seller invalidates the entire post.

NACA’s objective is to complete the process from contract-to-close in 28 days, and the vast majority of our transactions meet that objective. While federal law prohibits disclosing any information regarding a specific file or application to anyone other than the persons applying for the loan, there are channels available for all parties concerned to communicate with each other and complete the process as efficiently as possible.

NACA is a HUD certified, non-profit organization that has been fighting for affordable and responsible home ownership for nearly 30 years. We close on hundreds of loans every month, and will finish 2016 having done more than $1.2 BILLION in loans this year alone. Our objective is to make affordable home ownership a reality for everyone possible.

Plans for 2017 include a half dozen new offices and doing about $2 Billion in loans, all of which will have no down payment, no closing costs, and a fixed below market interest rate. The NACA program does indeed work to benefit home buyers across the United States.

Even if there is a grain of truth behind the above post, there are far better ways of dealing with it than posting deceptive and inflammatory comments.Tim Trumble Online Operations, NACA ttrumble@naca.com

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Anonymous
to NACA_Online Tewksbury, Massachusetts, United States #1249296

I am not the seller for the referenced property but the seller's agent.The complaint was not written by a real estate agent.

However, you are grossly uninformed as to what happened and your antics left one of the parties homeless. As a real estate agent, any offers my future sellers receive from buyers using NACA will not be given any recommendation from me. The intended buyers for the referenced property spent days at your office in Lawrence for almost two weeks. They were promised on almost a daily basis that the clear to close would come the next day.

Four extensions for closing were signed by both parties with the last extension being the last one my sellers would sign. NACA apparently didn't take this seriously and still did not submit the clear to close until two days past that deadline. Two days too late! My sellers lost the interest rate they had locked in and extended twice on the property they were trying to buy.

The buyers on their house had to be out of their apartment on the last day of the extension. THEY ARE HOMELESS!! DO YOU GET IT NOW!

I sincerely hope that any future customers who are considering your services will read these reviews and take heed.I will never recommend anyone to use you!

carol_Murphy
to NACA_Online #1249332

Your comprehension must not be very clear but I AM the consumer.The "sellers" I am referring to are the individuals I had an agreement with to purchase their home.

Your participants were supposed to purchase my home a month ago. Due to NACA's multiple delays and inadequate staff neither purchases were brought to closing. Your participants were told that they would receive their clear to close by your staff on several occasions but this was never fulfilled by the first, second, and final closing date. It is not unreasonable to expect that deadlines be met in a business transaction.

Regarding fairness, it is morally incorrect to make an individual believe that the appropriate documentation to close would be received one day prior to an expected closing date. An ethical and scrupulous organization would allow for participants to provide notice to landlords, utilities and moving companies. As a result of the lack of honest communication your participant is HOMELESS.

From multiple resources many can see that your offices are severely understaffed and some claim participant volunteers work in your offices.

I’m sure there are many who have not worked in the real estate or mortgage industries and may not be adequately trained to handle this type of work. It was not difficult to find several negative reviews of NACA. Most responses by NACA representatives are defensive in nature. It is truly a confirmation of the fact that improvement of your...

I understand that NACA is subsidized by government funding and is supposed to function as a group who assists with homeownership.

In this case and many others NACA has failed all parties related to residential real estate transactions and most importantly TAXPAYERS.

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Anonymous
to NACA_Online Lawrenceville, Georgia, United States #1250445

It seems when you post truthful yet not favorable comments regarding NACA, they responds a lot faster than when you email or leave voice messages. Maybe if the response time was better people wouldn't feel the need to post online for the world to see.

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