COUNTER TO “CONVENTIONAL WISDOM”, WORKING PEOPLE IN HUGE NUMBERS ARE ENGAGING IN THE HOMEBUYING PROCESS
(BOSTON) – Starting Thursday May 14th NACA, America’s largest HUD certified counseling agency, is conducting a series of massive four-day virtual homebuying events. NACA is changing the face of mortgage lending nationwide by counseling thousands of homebuyers each day and providing access to an extraordinary mortgage: no down-payment, no closing costs, no fees at a below market fixed rate (3.0% 30-year and 2.375% 15-year as of 5/14/20). While lenders are tightening their underwriting, NACA, with $15 billion of this outstanding mortgage, uses character-based underwriting to qualify buyers instead of credit scores.
These virtual Achieve the Dream Events take advantage of NACA’s state of the art technology to allow thousands of primarily low- to moderate income homebuyers to access NACA’s Best in America mortgage program to buy a home with the best terms in the country. Many homebuyers will be NACA Qualified (i.e. equivalent of pre-approval) the same-day, all without leaving the comfort and safety of their homes.
NACA’s technology allows homebuyers to submit all necessary documents electronically and meet with a NACA counselor via teleconference creating a virtual environment. NACA provides comprehensive counseling and access to the NACA mortgage to thousands of homebuyers over the four-day event. Additional events are scheduled through May with more coming in June to meet the tremendous demand.
NACA Founder and CEO Bruce Marks said, “The virtual Achieve the Dream Events allow us to maintain the unprecedented success we created with our live Achieve the Dream events and transfer it into an entirely online environment. This not only allows NACA to continue to create new homeownership opportunities on a massive scale, but to also make every event a nationwide event instead of a local or regional one, all the while protecting the health and safety of the participants and staff. It’s all hands-on deck for our team. Nothing like this has ever been done before in the history of mortgage lending, especially at this scale.”
NACA will have more than 250 counselors from coast to coast participating in the events, which means homeownership counseling will be happening on a scale not seen since NACA’s historic “Save the Dream” events during the mortgage crisis. Advance registration for the first week’s event is already at capacity of over 7,500 homebuyers, and the following weeks are filling rapidly.
The virtual Achieve the Dream events will have the same four basic steps:
- Attend an online version of NACA’s Homebuyer Workshop to learn how the NACA program works and to learn how to become NACA members.
- Upload required documents to their NACA file.
- Meet with a NACA counselor to determine readiness for homeownership and an affordable payment.
- Meet with a NACA underwriter to be NACA Qualified (i.e. pre-approved) or their next steps.
Bruce Marks continued, “These events will not only give homebuyers the continued opportunity to take advantage of the unbeatable terms of the NACA program but do so on a scale never seen before in American history. The online Achieve the Dream Events are going to change the mortgage industry as we know it and make affordable homeownership available to more people than ever before.”
CBS 3 Philadelphia: https://youtu.be/-Bfbjdui0_A
Maria Lara Testimony: https://youtu.be/L2uUrtDVBhU?list=PLOKHTNNOOuimIC1fm8sxnjg4OzHIIeY5B
CNBC at Miami Event: https://www.facebook.com/watch/?ref=external&v=564349637328357
Information and registration for Homebuyer’s Workshops and the Achieve the Dream Events are on www.naca.com.
NACA (NEIGHBORHOOD ASSISTANCE CORPORATION OF AMERICA) www.naca.com)
Started in 1988, NACA is the largest HUD-Certified nonprofit, community advocacy, and homeownership organization in the United States. NACA has been the forefront in fighting predatory lending and has been the most effective organization in providing affordable solutions to over 250,000 homeowners. NACA provides the best mortgage in the country through its 48 offices nationwide. NACA’s founder and CEO Bruce Marks was named Bostonian of the Year for 2007 because of his work in getting the major lenders and servicers to modify home loans. He has also testified before Congress on numerous occasions including September 12, 2000—being one of the few to sound the alarm of the pending mortgage crisis. For more information, please visit www.naca.com.