NACA — To NACA or Not To NACA
I purchased a home through the NACA home purchase program!
I had to lead off with that statement to remind myself there was actually a benefit to being subjected to the litigation-type maze of red tape I just experienced.
This whole ordeal has tested and challenged the parameters of my ability to remain calm in the midst of a firestorm of discombobulated methods. Now I better understand the negative and sometimes bitter surveys from those who warn the reader to stay away. In my reading I picked up on the fact that (forum.naca) labels those who complain about NACA as being only 1/100th of the total people they help. This comment truly depicts how an applicant can be treated- about 1/100th worth of NACA’s time.
Although the NACA mantra is that anyone can get a loan, the methods used by NACA and the bank to review and scrutinize the details of financial information goes way beyond the expected excessive scrutiny of buying a house. If it were only for verification sake as claimed, the delays would be more palatable. But their matter-of-fact, repetitive demands defy logic and wrangle the hope of the finish line right out of the heart of the applicant.
My position became- either do or don’t approve the loan but please stop torturing me with monotonous re-inquiry of the same facts, data, balances, receipts, etc. This excludes the weekly/monthly routine of scanned docs. I was prepared for that. But some of the demands and can/can’t-do’s danced on the boundaries of misuse of power from the bank/NACA reviewers & representatives (sorry MC, although you were stellar). It became clear that any demand you do not or cannot fulfill automatically jeopardizes final approval.
Also in my reading it was noted how NACA clearly defines its stringent methods as a deterrent and resolution to avoid the housing bubble fiasco from just a few years ago. I would say I agree in part. But there is much of the method that only serves to hide behind the monster. The housing bubble was not created by lack of documentation of repair nor will it be thwarted by over-documentation required to get my carpet installed!
I very much wanted to list the barrage of artifacts from the 500-page binder of scanned docs but I’ll summarize:
Part A: Up to the point of Qualification status, the laborious process had been an eye-opener and fully worth it. I advised people about it left and right. Trying to reel them in. Wrote letters to State Representatives.
Part B: The bottom falls out. I mean, then you get to glory that you’re qualified.
Continued stipulations, requirements, demands, plus shades of abuse of power (your approval is in their fingertips), inefficiency, delays, etc. Apparently only the applicant is scrutinized to keep their word on anything (and copy it in quadruplets).
By this time, even the administrators at my job were questioning my decision, commenting “why in the world would you do this to yourself?”
Part C: Weighing the costs of invested funds, promises to realtors, addendums, used flex and vacation time to address (demands), extensions in lease, extra funds for storage, then – a notice.
A last minute hiatus to travelling mercies. A mandate to immediately re-instate the requirement to close in Cleveland. Meaning- now I have to travel 500 freaking miles RT to a closing. Same day I have to be out of the leased home – of which I already had to request 2 extensions – and same day I have to negotiate how and what to do with my homeless storage containers of all my home furnishings. Eight to nine hours on the road, only to face 3 hrs of day light left to move something.
Part D & E: Hand it over.
The HAND dept wasted 3 weeks with minimal to no activity just to get 3 simple contract bids entered and reviewed. Then (after 3 -4 emails, several calls and messages on my part and the contractors part) I received a call from Hand in mid-MAR notifying me that all of quotes are not in. No kidding – that’s exactly what I had been trying to get them to assist with the previous 3 weeks.
Even more injurious is further delay was caused by reviewers acting as though minor electrical repairs identified in the home inspection would cause imminent danger on the property and demanded I not take possession of the property until all repairs are completed. Did they even read the inspection?
Since I’m already pushed out on a limb, I’m going to add the HAND dept round 2: getting the repairs done. I called (to distract myself from the other shenanigans on the close date) to get a jump start on how I can speed the process of getting my carpet ordered and installed. I was told the contractors have to issue a draw form and a request to blah, blah, blah, then do blah, blah. Really?! To get carpet installed! I dread the thought of working with them after close. Follow up 4-21: It’s as bad as anyone anticipated. I just want to crawl up in the corner and never hear the word HAND again.
Do I sound a little exasperated? Well, congratulations! This angst is all NACA-produced. The total exasperation is all HAND-produced. This is their baby. In fact, I could have given birth in my 50’s with less complications and I don’t even have a uterus. They have succeeded in turning an otherwise congratulatory occasion with an optimistic person into a bundle of aggravation and reproach.
And now I have to volunteer to tell the world about NACA?! Hell yeah I will.
Let’s start with updating those two NACA recommendation letters to my State of Ohio Representatives.
More NACA Complaints & Reviews
- NACA - Bad service
- NACA - Something seems fishy
- NACA - fraud, theft by deception
- NACA - fraud
- NACA - false promises
- Neighborhood Assistance Corporation of America [NACA] - incompetent mortgage counselors
- NACA - Mortgage
- NACA - assistance
- NACA - Home Modification
- Naca - Neighborhood Association Corporation Of America - False Information