can naca.com be trusted?

It can take sometime to complete the loan modification process. As you've already sent a proposal to them, I would suggest you to contact your lender and check out whether or not he is working on your request. This will help you know whether the lender would modify your loan or foreclose the property.

have anyone been able to start paying on their loan mod. from naca yet. or signed papers from the their lende?

Hi joannethomas!

Welcome to forums!

I do not have a personal experience with NACA. However, as Niicss has said in the earlier post, it takes quite some time to complete the loan modification process. If you've applied for a modification with NACA, do share your experience with us.

Sussane

I want to find out about lowering my interest rate from 5 and 3/4% to 2% as one of my brother's friends' was able to do. He was not late with his mortgage, neither am I or neither have been, but my husband and I are both on social security and he is on disability.

Hi Jacqueline,

You will have to contact NACA and check out if you meet the required eligibility criteria. The officials at NACA would go through your financial situation and other required details to let you know whether or not you would get a 2% interest rate.

Thanks

I attempted to attend two NACA seminars to determine how my loan could be modified. Both events were over crowded and I was turned away without priority consideration for the next (future) meeting.

I was recently laid off from work and I am having a difficult time managing my mortgage at the current interest rate. Please advise how to obtain assistance. Thanks

have you tried calling them?

Just went to a power session at the Jacob Javits conventin center in N.Y.C. NACA helped me remodify my mortgage with my lender( Bank Of America) I got my morgage lower by 1300 dollars a month,and intrest rate from 7.50% to 5,0%.I had to go to a workshop and a counseler and then a power session,thank GOD for NACA!!!!

great testimony! i'm glad to know that it worked out for you.

There's a great discussion on the Trulia.com website. The tour events are mostly for PR, but they do help people and film them weeping their way out of the auditorium with new mortgage at 2% in hand...others wait a year or more...Lots of mods are done via their website. I have had both good AND rotten experiences with them. They are a legitimate company and do modifications at no cost. You can't argue with free, or almost free! But don't depend 100% on them. If they help you, it's manna from heaven; if not, well, you could lose your house in the meantime. Read up, and you'll know more. Still, they are legit and I say go and ask @ NACA.com.

susieQ thank you for your testimony here as well. undoubtedly what you've said about naca is true about others who offer similar assistance. it's good to know that someone has had enough good experiences to speak out in such a favorable way, though.

The naca concept is good , but the reality they don't service their clients until the process is complete . they are very very difficult to contact and there is little to no follow up. be very careful
on a scale of 1-10 they get a (2) they are very unorganized.

2 is awfully low - i guess they've got some striving to do.

Naca is a life saving program, they do everything for free almost all they ask is for if you can is to volunteer when you can, if you can. Im working with naca and they got me a really good interest rate from a 6.2% to a 3% and I had a foreclosure. You just have to keep calling naca customer service to direct you what to do next. They dont charge, so you dont have nothing to loose. The banks wont work with you, and if they say they will their going to try to ask that you make a large amount of income, for them to help you. Which is stupid, thats why your trying to get help. You obviouly dont make that kind of money, your wasting your time trying to bargain with the bank yourself. The banks are greedy, their not their to help you. Trying to get help from them is useless.

negotiating with the banks is not useless, though it's annoying and frustrating for everyone these days. i agree with you that naca is worth contacting and working with, though.

please, everyone take notice of this: i am not employed by or affiliated with naca in any way, shape or form. my interest in posting here on these forums is strictly out of my desire to assist wherever possible. i have extensive experience in the lending arena, and that experience has given me sufficient insight that it makes sense for me to add my opinions. again, however, i am most definitely not affiliated with naca.