Thousands Line Up For Free Mortgage Help

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 This material may not be published, broadcast, rewritten or redistributed.)

Comments

One Comment

  1. John says:

    shamless self promoting I’ll look for your card on my windshield – ambulance chaser

  2. Kim says:

    I attended a NACA workshop in L.A. several months ago and it was WORTH IT! I had all my papers with me, did the online registration, and the end result was a 2% fixed for the term of my loan! No foreclosure, past due payments didn’t affect me and my payments were lowered by almost $500 per month. My mortgage was cut from a 50 year ARM baloon payment to a 30 year (now 26 years left) 2% fixed. I had to leave L.A. and go to Las Vegas because I came on the last day and was given a voucher to skip the first phase and when I got to Vegas, I spent the night outside (first time ever in life) but IT WAS WORTH IT!

  3. al PICO RIVERA CA says:

    i dealt with my lender by sending a hardship letter with all income and debts to the loss/mit dept. The modification came months later. no need to suffer in lines . i paid 2898 b4 and it was lowered to 1860 . i can now take the kids to the show

  4. Barbara Norwood says:

    I SPENT THE NIGHT IN LAS VEGAS TO FIND OUT THAT NACA COULD DO NOTHING FOR US. OUR LENDERS TOLD US THAT THEY DO NOT DEAL WITH NACA, AFTER WE HAD GIVEN NACA ALL OF OUR PERSONAL INFORMATION. I AM SO UNHAPPY WHAT WE HAD TO GO THROUGH TO FIND OUT THE INFORMATION THAT NACA GAVE US DO NOT COME TO REALITY.

  5. FortMcMurray ÓK says:

    Hack again?!

  6. damion & ruth says:

    after loosing half my income and getting the run around from B.A. for 1 1/2 years NACA got me one from 6.1% down to 3% for the life of the loan saving us $577 a month! it was a long weekend but well worth it! NACA is coming back to L.A. in january so check out the website for details

  7. Margaret Howe says:

    Got my payment reduced by $300 a month and a fixed rate instead of an adjustable. Glad they are coming back to California, because there’s a lot more people who need this kind of help. It’s a long wait to get through all the steps, but even a couple of days was worth it.

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