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Thousands Flock To LA Sports Arena To Refinance Mortgages

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(credit: CBS)

(credit: CBS)

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LOS ANGELES (KNX1070) — With patience and paperwork, thousands of people lined up at the L.A. Sports Arena Sunday to try and refinance their mortgage through the Neighborhood Assistance Corporation of America (NACA).

What makes this program worth the wait is you meet with lenders face-to-face and you can get an answer on your refinance request in the same day.

NACA’s Tim Trumble says 30 percent of applicants do get their mortgage refinanced the same day and the others get their answer within 30 to 60 days.

KNX 1070’s Ed Mertz reports that the turnout has been huge, according to Trumble.

“My best guess is we’ve seen about 70,000 people. Today’s gonna be far and away our biggest day – the final day of the event. We might get 100,000,” Trumble added.

For anyone who could not make it Sunday, you can still use the program by visiting:
» Web Site: NACA

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