NACA programs - Are they really helpful?

Guest

Let say Naca help me get the affordable mortage payment w/ my lender. And I got approve and let say after 25 years my house is paid off. Is the house 100% mine? Or if I decided to sell my house, do I have to pay Naca or my lender any fee or give them partial of my profit? Please help answer my questions. Thank you

smithsussane · Posted: Mon Aug 17, 2009 12:04 am Post subject:

Hi Jen!

Welcome to forums!

If you successfully payoff the mortgage dues, you would be able to own the property free and clear. Yes, it will be 100% yours. As far as I know, NACA's services are free for members. You'll have to pay for your credit report and clear your membership dues prior at the first counseling session. The payments should be done through their website. I don't think you will have to pay a fee to the lender or NACA if you sell off the property.

Feel free to ask if you've further queries.

Sussane

Guest

Thank you so much for answering my questions, sussane. You have mentioned about paying for my credit report and clear my membership dues. Is that going to be a ONE time fee?

gmakerley · Posted: Sat Aug 22, 2009 7:49 am Post subject:

when you buy a home and mortgage it, and eventually pay that mortgage off, that home is totally owned by you, the owner. no "fee" or any other such sum of money would be due to a lender or naca or any other entity when you sell the home. you'll pay taxes, yes; you'll probably have a lawyer who you'll pay, too...but the specific entities you've mentioned would not have a share of the profits of your home at all.

sussane, you've confused me, and probably jen too...you say naca doesn't have a membership fee yet you say she has to pay a membership fee. i don't have enough experience with naca to say one way or the other, but it certainly can't be both ways. can you please explain this more clearly?

any fees you pay, jen, i am sure would be one-time.

smithsussane · Posted: Mon Aug 24, 2009 2:13 am Post subject:

Hi George,

Thanks for pointing that to me. I got the information related to NACA's membership from the given link:
"http://www.naca.com/members/memberOverview.jsp?menu=mem"

When I went through this page, I thought that there are certain services which are available to members for free whereas the members will have to renew their membership in order to take advantage of all their services. I guess, I misunderstood the information.

Sussane

gmakerley · Posted: Mon Aug 24, 2009 7:31 am Post subject:

gotcha...thanks sussane.

bensonclive · Joined: 16 Aug 2009 Posts: 91 -0.12 Dollars($)

Once you pay the one time fee for NACA and pay all the mortgage on regular basis for 25 years then the house will be yours for free.No fees attached.

Guest

i need you phone number his program is free. can i report fraud corporations

jameshogg · Posted: Fri Oct 02, 2009 11:49 pm Post subject:

Hi jorge,

You can get the contact details of NACA from the given page:
"https://www.naca.com/about_naca/nacaContact.jsp"

As far as fraudulent activities are concerned, you can report it to the BBB or to the attorney general of your state.

Thanks

jaguilera777 · Joined: 04 Nov 2009 Posts: 6 2.72 Dollars($)

I just read the information provided in the NACA website and noticed that in the mortgage calculator section (here is the link: "https://www.naca.com/refinance/pitiCalculator.jsp?menu=pur") The monthly payment is calculated with an extra $50 added to the monthly amount for: Home Save / Membership Fee: Provides post purchase counseling and financial assistance and other NACA benefits

This makes me believe that an extra $50 a month is going to go to them for this feature...please correct me if I'm wrong.

[Link deactivated as per forum rules. Thanks.]

smithsussane · Posted: Fri Nov 06, 2009 9:40 pm Post subject:

Hi jaguilera!

Welcome to forums!

From what you have quoted it seems that you are correct. The extra $50 goes towards the membership fee.

Sussane

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