Navy Federal Credit Union
Information
NFCU - Membership restricted to active and retired military and government employees, as well as immediate family.
Members: 76
Latest Activity: Aug 28, 2019
NFCU Contact Information
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NFCU General Customer Service - 800-368-3657 - Must have member account number
Mortgage Collections Dept.
Fax: #703-255-7947
Phone: #800-258-5948
Short Sale FAX (703) 255-7947
Letter of Authorization Fa 703-255-7947
P.O. Box 23800
Merrifield, VA 22119-3300
PACKAGE EMAIL: [email protected]
Email format: FirstName(underscore)[email protected]
Example: [email protected]
REQUIRED Short sale docs:
NAVYFCU.pdf
UPDATED authorization to above package:
Discussion Forum
Approval to Close Help Needed - Our Closer at Nevy Fed is MIA...
Started by Jason Sanseverino. Last reply by Ben Benita Jun 30, 2016. 3 Replies 0 Likes
Good Morning All -I have short sale approval and closing is set for today. We provided Navy Fed with the required closing docs early in the week BUT we still don't have "approval to close".I have…Continue
Navy Federal Second - Charged Off
Started by Janie Booth. Last reply by Kim Chitwood Aug 28, 2013. 2 Replies 0 Likes
Does anyone out there have any experience settling Navy Federal 2nds that have gone to charge off? Both negotiators that have been handling our account/covering for the other have ben MIA on sick…Continue
New HAFA rules
Started by Tracy. Last reply by Tracy May 6, 2011. 3 Replies 0 Likes
I am a homeowner facing pcs with a house worth about 140,000 we owe 160,000. I am reading this information on the HAFA program regarding short sales. I was wondering if anyone knows anything about…Continue
NFCU ShortSale in AZ - Should I continue to make payments?
Started by Michelle. Last reply by Kevin - Greenville, SC Apr 3, 2011. 1 Reply 0 Likes
I own a home in Phoenix, AZ that I purchased in Oct 2004 ... I purchased the home through a mortgage broker and later refinanced the exact $$ amount of my mortgage with my credit union - Navy…Continue
Comment Wall
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Comment by Adam Woodhall on December 14, 2010 at 8:23am
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Hello, Brandy. Welcome to the NFCU group. Feel free to share your experiences about them as a short sale lender or just a bank as a whole.
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Erich - A pre-liminary HUD is required for all short sale packages. I am surprised the attorney you're working with didn't include it with the initial package. If you review the .pdf link in the description for this group, you'll note it's one of the things mentioned that NFCU requires for the initial package. If you haven't already, be certain on the HUD you over-estimate categories like HOA, estoppel fees, etc., so you have some room to work with should they give you an unreasonable net proceeds or commission reduction request. Once NFCU has received the complete package, I would still expect a 60-90 day closing period at a minimum, depending on if your buyer is paying cash or financing, among other things. Be proactive and be certain to get ahold of the negotiator working the file at least twice a week for an update.
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Gayle - Welcome to the NFCU group, feel free to share your experiences with them as a short sale lender.
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Erich, it is good to hear that agent has experience. Going in blind to an unknown lender is difficult. This site and it's members are a great resource I hope they chose to explore. If your agent is having any issues getting the package prepared, getting through to a negotiator, etc, please have her contact me or anyone else in this group.
In regards to your questions, there are many military service members in similar situations; not all went through NFCU to get their loan, however. I would agree be prepared for the worst as they do NOT care about personal situations, only about numbers making sense. You can ALWAYS negotiate the prom. note down, negotiators WILL lie, however one can't get away without one. I've never heard of NFCU releasing a member from a prom. note on a portfolio (in house, not Fannie/Freddie, etc) loan...
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This is true. They will not allow you to miss any payments or get behind. Other lenders will. NFCU will take any money from you they think they are due, and if you don't have it in your NFCU accounts, they will take it from any account you're associated with, i.e. son, daughter, elderly widowed mother who's husband has passed...recommend you open a new account at another bank and put your money in there from now on. Keep only the minimum required in your NFCU account to pay the mortgage.
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Comment by Brigitte Powell on November 7, 2010 at 1:17pm
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Eric....one thing. If you have any money in the Navy Federal Credit Union, savings etc. Move it elsewhere as soon as possible. If you have a joint account with another family member, the same applies.
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Hello Erich. Are you currently working with an agent in your area to process the short sale? I ask because laws vary from state to state on short sales, recourse loans, etc, and as a result this could change how you go through the process.
I just completed a NFCU short sale, I would be more than happy to provide you with additional information. You can contact me via this site, or at [email protected]
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Hi Dawn - welcome to the NFCU group - feel free to share your short sale experiences with us.
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Well I closed my file with NFCU on Friday -- no further issues preventing from closing. Contract to close in 102 days --- would have been quicker had I not had to negotiate down the prom. note from 50k to 25k. Best of luck to everyone in their future NFCU dealings....
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Hello John - welcome to the NFCU group, please share your experiences with them as a lender.
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