Neighborhood Assistance Corporation of America (NACA). NACA is a non-profit organization that combines aggressive community advocacy with comprehensive homeowner services. We are the country's largest housing services and community advocacy organization with America's best mortgage program. Visit www.naca.com, or call (888) 297-5568. NACA has achieved great success through our
Description
How is the NACA Program different? NACA utilizes it's state-of-the-art online mortgage qualification, underwriting, processing and servicing software called NACA-lynx. This high-tech, paperless process transcends a simple approval or rejection based on a credit score and provides NACA's Housing Consultants with the tools necessary to guide borrowers--even those with severe credit issues--through to the ultimate goal of home ownership NACA provides comprehensive housing counseling to each participant. A NACA Housing Consultant will work with the Member to resolve credit issues and other financial problems, and to navigate the minefield of the mortgage process. They will work with the Member for as long as it takes to become a homeowner, and all of NACA's services are free. NACA controls the mortgage process for every participant. NACA chooses all the vendors for the program (i.e. appraisers, settlement agents, etc.) and makes the underwriting decisions on better terms than any other mortgage provider. Nearly all applications from NACA participants are approved by the lender (99% of families who apply for mortgages are accepted), compared to the industry standard 30% to 40% withdraw/rejection rate. Other mortgage brokers and non-profits lack this capability, so banks make the critical decisions. Even worse - many mortgage brokers get kickbacks in return for charging higher interest rates, and many non-profits are so dependent on grants that they compromise homeowners' best interests. ยท
