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NACA is hiring over a thousand people
NACA Jobs
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America's Best Mortgage!
One Mortgage Product - $10 Billion Committed
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4.875%
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Fixed 30 Year (as of 07/03/2009)
No Down Payment, No Closing Costs
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HOME SAVE PROCESS
HOME SAVE PROGRAM |
NACA provides the most effective solution for owner-occupant homeowners with an unaffordable mortgage who are not investors. NACA is recognized as the most effective in restructuring mortgages by permanently reducing the interest rate and/or mortgage amount to a payment the homeowner can afford. NACA can enforce and achieve these solutions with major lenders/servicers and is advocating against others. Follow the procedures stated below. If you are beginning the process take the first step by attending a workshop now.
All of NACA’s services are Free.
If you have an auction date click here for Sale/Auction Dates and NACA will work to suspend it to provide an opportunity to assist you.
Existing Members Click here
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General
Click here - Eligibility
Click here - Solutions
Click here - Mortgage Calculator
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General Information
NACA’s Home Save Program is nationally recognized as the most effective solution for homeowners with an unaffordable mortgage or at risk of foreclosure. We have permanently reduced homeowners interest rate to what the homeowner can afford based on their current budget. We have done this for thousands of at-risk homeowners and achieving similar solutions for thousands more.
NACA has agreements with the major servicers to restructure loans. NACA has developed a streamlined process to best assist you including working with a dedicated NACA Mortgage Consultant. You need to complete the Homeowner Submission, attend a NACA Workshop and meet with your Mortgage Consultant. The NACA process may take some time, so if you have an auction date click Urgent Situation and we will work to postpone your auction.
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Stage 1
Click here for Workshop
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Attend NACA Workshop
Attend a free NACA Workshop to learn about NACA and the Home Save Program. There are a number of workshops offered every month by each NACA office. Upon completion of the NACA Workshop, complete the submission section in the website and then make an appointment for an individual counseling session either face-to-face or by phone. If you do not live in a state where NACA has a workshop, complete the information on the website and make an appointment for a phone counseling session.
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Stage 2
Click here for Submission
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Home Save Submission
You need to input information through our website. There are ten sections that require personal, property, mortgage and financial information for you and co-borrower(s). This can be done over a period of time. Complete as much as possible since the more information and documentation you submit the faster and more effectively we can meet your needs. You need to be completely accurate and honest. We will require verification of the information you submit. If you are not sure or comfortable on utilizing the website, bring whatever you have to your counseling session.
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Stage 3
Click here for Appointment
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Counseling Appointment
Make an appointment to meet with a NACA counselor for a face-to-face meeting or a phone session. Phone sessions are available sooner and more flexible times. For a phone session you must complete the submission on-line and submit the documents by fax or electronically.
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Stage 4
Click here for Fax Cover
Click here to Upload
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Document Submission
To achieve an affordable solution you need to provide the following documents either electronically or provided directly to your Mortgage Consultant.
a) Pay Stubs (most recent available 30 days)
b) Monthly Mortgage Statement (most recent available)
c) Property Tax Bill (most recent available)
d) Homeowners Insurance Bill (most recent available)
The following documents would be helpful in further assisting you. You should submit them if possible
a) Bank Statements (last available two months)
b) Mortgage Documents (current mortgage) – HUD1/Settlement Statement & Note (if not sure bring all documents from the closing)
The most effective and fastest way to assist you is to submit the documents into your electronic file by any of the following three options:
a) Personalized fax cover sheet that has your Member ID and faxing to
1-877-Fax-NACA (1-877-329-6222) (Click here to get the fax cover sheet);
b) Personalized email;
c) Your computer (Click here to upload documents).
You can also bring them to your meeting with your NACA Mortgage Consultant.
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Stage 5
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Individual Counseling
Your counselor will work with you to complete a budget documenting a mortgage payment you can afford over the long-term. The budget identifies your monthly net income, less monthly liabilities, less monthly expenses, less $200 for non-recurring expenses. Your budget would be verified with documentation including pay stubs and liability payments from your credit report. NACA determines the interest rate and mortgage amount that would be necessary for you to achieve the maximum mortgage payment. While will determine your best option to obtain an affordable mortgage payment, the only real and permanent solution for the majority of at-risk homeowners is to restructure the mortgage by permanently reducing your interest rate and/or outstanding principal amount.
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Stage 6
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Submission to Servicer
The NACA recommended solution with your budget and supporting documentation is submitted to the servicer electronically. NACA submits all solutions based on the documented affordable amount with an interest rate and mortgage amount that is locked-in for the remaining term. The servicer has considerable discretion in changing the mortgage. In some cases the servicer would need to obtain approval by the investor.
NACA’s Home Save Underwriters work with the designated staff at the servicer to process the NACA Solution. When the servicer responds or accepts the NACA Solution, the Underwriter will coordinate with you and your Mortgage Consultant to complete any additional requirements. If the servicer does not accept the NACA Solution or have the authority to approve, then NACA would request that the investor approve the NACA Solution.
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Stage 7
Click here for
Servicer & Politician Contacts
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Advocacy for Your Solution
NACA has agreements and relationships with major lenders/servicers to enforce and achieve your Mortgage Restructure. NACA is expanding these agreements and more lenders/servicers are accepting the NACA Mortgage Restructure Solution.
If your lender/servicer or investor does not accept your NACA Mortgage Restructure, you will need to advocate with public officials and others to get your solution accepted. The ultimate decision maker is the CEO of your servicer and investor. To get the CEOs approval you need to involve your Congressman and Senator and make them responsible for getting the CEO of your lender/servicer or investor to accept the solution. We will provide you with contacts and information for you to call, email, write and confront these officials. You need to involve your family members, your friends, your co-workers, your neighbors and everyone else. Your responsibility is to relentlessly call, email and advocate until they get your solution accepted. It may also be necessary to aggressively confront some predatory lenders and involve your attorney general, federal and state regulators, state and local politicians, attorneys, and other organizations and individuals who can impact these services and/or investors. Your direct advocacy with thousands of other homeowners and NACA Members will be an irresistible force.
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Stage 8
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Accepted Solution
Once your solution is accepted, you should receive the documentation from the servicer often within two weeks. You need to review the documents carefully, sign them and return them to the servicer. These will be binding regardless of who services or purchases your mortgage.
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Stage 9
Click here for local office
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Participation
We need your continued participation to advocate for economic justice. There are numerous activities to take part in, including participating in demonstrations; volunteering in the NACA office; assisting other homeowners or homebuyers, and; and providing your skills and knowledge to assist others. Contact your local office or NACA’s national office at 1-888-302-6222 to discuss how you can volunteer. Thank you for your continued involvement with NACA.
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REMEMBER TO PARTICIPATE
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