I have been on the NACA home purchase program for over a year now. Â My previous councilor was Patricia Baker, unfortunately she is no longer with the Washington DC office and no one had informed me until I called back to check.
Â I had been sending her multiple emails regarding the status of my application. Â There were a few miss communications during my qualification. Â The main miss communication was the fact that Patricia had informed me that as long as I have at least $6000 in my bank accounts that is their minimum requirements for me to be qualified. Â She had ran some numbers and quoted my range for a house purchase at $285,000 but could be more if I can make my payments within my reach of $1700 a month.
Â I have been drawn back by the fact that the "Payment Shock" was not explained to me properly or at all until January of 2011. Â I have had quite a bit savings and have been consistent with the program since September of 2010. Â The other miss communication was the fact I had been making monthly contributions to my parents but it was in the form of cash payments rarely did I write out checks to them but I do have some checks on file maybe 2 or 3. Â The other thing I did was I had signed a lease for my sister since her credit did not go through back in September of 2010 and I was helping with half the rent since I stay there 2 days out of the week when I have school; due to her loosing her second job I have been paying for all of the rent starting from January.
Â Previously I was paying half of the rent ($325) and now I have been paying the full rent of $650. Â I have bank statements from September that I can go back to; from September my starting balance was $4,766 in my checking and $19,957.33 in my savings and from my last statement I have a balance of $10,143.22 in my checking and $21,798.03 in my savings. Â My checking has gone up by $5,377.22 and my savings have gone up by $1837.70, in months my payment shock has been greater then $1700 but unfortunately my approval letter was denied. Â I am going through very tough times, last year in March I was evicted with my family from our house due to foreclosure so we moved into my parents other house in Woodbridge, but the current house might also be going through a foreclosure process right now its on the market for a short sale so if it goes through and I'm still stuck with the NACA approval process.
Â I have discussed this with Patricia and she said by October or the end of 2010 I would be able to attend the home buying guide workshop after I would get approved but I have been running in circles and it feels like I'm starting off over again. Â I had initially came to the NACA workshop in April of last year and came to my first appointment in July and she had informed me that the process takes about 6months to a year and my year is up and I haven't really moved anywhere as far as where I was back last April and even last July. Â I called the office I could not get an appointment. So basically I am consistently lied to and not offered help if I call the naca dc office 2 out of 10 times after waiting on the phone for 30 mins.
Â I have called the office while I was in the office and had to wait the same amount so it's the headquarters fault for having faulty phone systems and very bad communication. The times I cant get in touch with the office and call the 1800/1888#Â