Step 10- Post Purchase Membership Assistance Program

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Once you have closed on a NACA mortgage, your NACA membership provides you with a post-purchase assistance program through NACA’s Membership Assistance Program (MAP). MAP has trained and specially dedicated staff ready to provide comprehensive counseling to prevent financial difficulties and, where necessary, to get you back on track.

Making the transition from renting to owning may require significant sacrifices and changes in your spending habits. You will probably incur higher utility costs than in a rental property. You will no longer be able to rely on a landlord to arrange necessary repairs. You will need to make your mortgage payments on-time and, if you miss a payment, the lender will expect two payments the next month. Although your NACA Housing Counselor will discuss these issues with you throughout the NACA Qualification process, post-purchase counseling may be needed to help you adjust to the financial responsibilities of being a homeowner.

NACA provides Members with comprehensive post purchase assistance. Thus, instead of private mortgage insurance, which provides no benefits to the homeowner, the NACA membership which is free to the Member after closing, provides free assistance for Members having difficulty making their mortgage payment.

The assistance described below is provided to you as long as you have the NACA mortgage:

-Budgeting and other counseling;

-Modifications to address changed financial circumstances (i.e. reduced income);

-Forbearances to address temporary financial difficulties;

-Financial assistance for approved homeowners that encounter financial difficulties;

-Real estate services to sell your home;

-Communicating with or addressing issues with the lender;

-Additional homeowner and neighborhood services and advocacy; and

-Other services that becomes available through NACA.

NACA is working to provide other types of assistance and services for NACA homeowners. These services may include legal services and access to other financial products.

Remember To Participate!

Step 1- Initial Home Buyer Workshop

Step 2- Housing Counseling & Preparation

Step 3- NACA Qualification

Step 4- Housing Search/ Agent Representation

Step 5- Purchase & Sale Contract

Step 6- Property Condition/Repairs

Step 7- NACA Credit Access & Bank Application

Step 8- Mortgage Processing & Underwriting

Step 9- CONGRATULATIONS! Closing Day & KEYS!

Step 10- Post Purchase Membership Assistance Program