As some of you guys might know, i put my home buying plan on hold in order to go through NACA(Neighborhood Assistance Corporation of America) program. They offer so many benefits that some people do not believe it's real.
Before i get to my experience, which is not so much, i want to share a bit about its history.
NACA has been around for over 25 years. They began in Boston in 1988 as the Union Neighborhood Assistance Corporation (UNAC). NACA was inspired by the Hotel Workers Union called Local 26. They fought and won for the countries first trust fund for union members. NACA then used the union's tactics to confront lenders in defense of home buyers.
NACA has gone against lenders such as Fleet Finance in 1990 and bigger organizations such as First union. They were able to recoup billions of dollars for low to moderate income Americans.
Back to my experience, I have to say that i am new to NACA (1 week), but so far everything has gone fine. I am currently waiting to get a counselor. A friend and NACA user at work said i might only get one after a month. I was hoping to get one after maybe a week. The workshop that i went to last weekend was very informative. People got to ask many questions that were answered. I was made to understand that we will get a web link through which we can submit our documents to help the documents process to go faster.
I want to add that i did a little research on the internet for the negative aspects about NACA and the only things i could find are people saying the process is so lengthy. I also got some people who were hoping to save their home from forclosure saying the waiting process is unhelpfully long and almost caused them to loose their homes.
I welcome any comments from users or from people with experience with NACA.
I will continue to write on any updates to this process.
