What Is NACA All About?

rc_kowal · Joined: 06 May 2007 Posts: 2 1.79 Dollars($)

Can anyone shed light on an organization named Neighborhood Assistance Corporation of America? Are they legitimate & helpful or just a bunch of hype? See the link:

.https://www.naca.com/index_main.jsp

jerry · Posted: Sun May 06, 2007 10:17 pm Post subject: RE: about Naca

Hi Rckowal,

Welcome to the forums.

As much as I now, they are currently helping the subprime mortgage victims who have gone through defaults and delinquencies. They are organizing seminars and conferences to help such victims.

Thanks,
Jerry.

Guest 0.10 Dollars($)

They also have mortgage programs for first time buyers as well as who are looking to refinance. The important thing is that their NACA homeownership program has no down payment or closing cost requirement.

Christopher Oakley

rc_kowal · Joined: 06 May 2007 Posts: 2 1.79 Dollars($)

Thanks for replying Jerry & Christopher. That's helpful information.

Is the NACA homeownership program some thing new?

Regards

miller_st · Joined: 17 Jan 2007 Posts: 917 168.84 Dollars($)

sagarthakar · Joined: 15 May 2007 Posts: 68 26.01 Dollars($)

Miller is absolutely right abt NACA, somewhere in mid 2006 Countrywide had launched some NACA programs ex : House America Loan Program, but soon they discontinued but yes they had some 4-5 loan programs.

Regards

Sagar

Guest 0.10 Dollars($)

I need some details about the mortgage from NACA

miller_st · Joined: 17 Jan 2007 Posts: 917 168.84 Dollars($)

Hi Eric,

Mortgage product from NACA has some very good features such as:

1. No closing costs
2. No PMI
3. No down payment
4. No application fees
5. Need not have perfect credit

It has low rates which are 1% below market rates. The current rate for their mortgage is at 6% for the fixed 30 year mortgage. You can read more about it from here: https://www.naca.com/about_naca/purchaseOverview.jsp

Miller

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