NACA PROBLEMS? CAN'T Contact NACA?

We went to the NACA Event In Sacramento CA on October 10, 2010 and spent well over 20 hours. We did go to see our processor (Chase) and they basically told us we were SOL. They also said that NACA was not truthful in saying that our mortgage issue could be resolved that day because they (Chase) would not even receive paperwork for three days. They also said that we would have difficulties reaching NACA if we had to discuss problems or move forward.

Well guess what? THEY WERE RIGHT!

In a nutshell, The Neighborhood Assistance Corporation of America (NACA) is a non-profit organization led by Bruce Marks to help people save their homes by getting lenders and their mortgage holder together. They hold events in different cities where lenders can attend to get their home mortgages refinanced. The organization started in 1988.

My Best Advise to you is DO NOT GO TO THE NACA EVENT IF YOU ARE A SOLE PROPRIETOR OR HAVE AN ARM OR OTHER COMPLICATED MORTGAGE. The problem is that NACA services thousands of mortgages and cannot deal with mortgages with issues. Don't waste your time.

We were told by NACA that NACA receives only $150 per mortgage that they successfully process. How can they afford to spend more time with you?? They are too busy finding easy service mortgages because that's where they make their money. Everyone else they leave in the cold!

We had to find our own solution. It is December 7 as I write this and after many calls, emails, and communications thru their website, we have not heard ANYTHING from them!?

Apparently NACA has a lot of clients and gets just $150 per completed processed mortgage. They really do not have the motivation to help if processing your mortgage will take longer than what it costs them ($150). Not only that, they have a lot of volunteers that aren't motivated to help either. If you're a small business owner and/or have a complicated mortgage like an ARM, check out another organisation.