When It All Began......

Our NACA joruney first began on October 19, 2008 at a workshop in Greensboro, NC for potential home-buyers and current home owners that were in need of loan restructuring. I must admit, we were very hesitant about this program at first because up until this point, we thought we would never become homeowners. Our thinking was, "If nobdy else could help us and approve us for a mortgage, how will they?" We found out about the program through Eastwood Homes while we were out house looking, which was merely a dream and time filler at the time.

We arrived at the workshop, which was held at a local hotel in a conference room. There were about 40 people there total and everyone seemed very anxious to hear about the program. The presenters were very helpful and informative. Afer listening to the presentation, we decided that this was definitely a program that we wanted to work through. What we found out was simple:

1. NACA does not require a down payment for the purhase of a home.
2. There are no closing costs when closing on a home through NACA.
3. NACA is very much againt predatory lending.
4. You do NOT need perfect credit to obtain a mortgage though NACA.
5. During your counselng sessions, your mortgage counselor with assist you in credit repair.
6. The NACA program can be lengthy, usually around 3-6 months.
7. Interest rates are generally lower when closing a home through NACA.
8. Every member gets the same exact interest rate no matter what your credit rating is.
9. With NACA, you're able to by your rate down, lowering your monthly payment.
10. There are many NACA offices all around the country that are eager to help people like us!

Hearing those facts had us fired up. We came home and immediatly starting working to move forward with NACA. At the workshop, we were given a yellow NACA workbook that was loaded with general information about the program as wel as worksheets to help determine a monthly budget and comfortable monthly mortgage based on our income and debts. From that moment, I felt like we would become homeowners very soon. For once, I felt on top of the world knowing that "NACA was going to make me a homeowner"!