What lien does NACA take on the property?

NACA takes a soft lien on the property, which means that while NACA has a financial interest in the property, the lien is not the same as a traditional hard lien. A soft lien typically refers to a lien that is secondary to other financial obligations on the property. This is significant because it allows homeowners to potentially step over the hurdle of multiple liens or financial claims on their property while benefiting from NACA's services.

A soft lien does not affect the primary financial responsibilities homeowners have, which may allow them greater flexibility with their existing debts. This type of lien is particularly relevant in NACA's context as it supports the organization's goal of helping people, especially those who might be struggling financially, attain homeownership without the full burden that might come from a traditional hard lien arrangement.

The consideration of other lien types highlights the unique approach NACA takes in ensuring that assistance is provided in a manner that does not exacerbate the financial challenges faced by the homeowners.