Thousands Line Up For Free Mortgage Help

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(Credit: AP)

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LOS ANGELES (AP) — Tens of thousands of people are lining up again Friday in downtown Los Angeles for free mortgage help.

A nonprofit group called the Neighborhood Assistance Corporation of America is offering the chance to restructure their home loans at lower rates.

An estimated 30,000 people are expected to attend the five-day event that began Thursday at the Los Angeles Convention Center.

The group says it can help people at risk of foreclosure reduce their mortgage rates to two or three percent.

The group says it has $10 billion in funding commitments from lenders and has held similar events around the country.

(© Copyright 2010 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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