[Moe Bedard]

HI thankful07,



Welcome to the forum and thank you for joining.............

With NACA or any modification program it is best to give an accurate financial picture so that the workout given will fit the hardship.........if you have questions regarding self employment income or hard to document income............the NACA counselor can will be able to go over this with you when you have your consultation.

According to NACA:

This Homeowner Submission will provide crucial information of your mortgage and financial situation that will be accessed by your Mortgage Consultant. Prior to recommending a NACA Solution your Mortgage Consultant will need verification of the information you provided

You need to be completely accurate and honest. We will require verification of the information you submit.

Affordability Budget:

NACA’s Home Save Program provides four long-term solutions. The NACA process considers the individual characteristics for each homeowner but provides a framework and standardization to provide for the most effective long-term solution. The Affordable Budget provides an analysis of your current financial situation. If completed accurately and completely, it will show the mortgage amount you can afford. The solutions are based on what you can afford based on a tight budget consisting of the following:

Net Income:
Less:
Required Liability Payments
Required Monthly Expenses
Allowance for Non-Recurring Expenses (usually $200)
Net Available Income for a Mortgage Payment (i.e. Principal, Interest, Taxes and Insurance)

Options:

NACA’s home save options are based on what you can afford based on our comprehensive Affordability Budget.