LOS ANGELES (CBS) — The Neighborhood Assistance Corporation of America (NACA) is back in Southern California to help both struggling homeowners and prospective home buyers.

NACA’s American Dream Event provides mortgages for new home buyers and free modifications to current homeowners. The free Home Purchase and Home Save event will be held from Feb. 16 through Feb. 20 at the Los Angeles Convention Center. The event will run from 8 a.m. to 8 p.m. every day.

Many will qualify for a fixed rate mortgage with no down payment, no closing costs, no points or fees.

The event comes at a crucial time when most working people can’t qualify for a new home loan. Most home buyers are required to put thousands of dollars down before they can purchase a home, but NACA’s program allows some consumers to skip that step.

There will be hundreds of counselors available to talk with consumers who want to purchase their dream home or reduce payments on their current mortgages. Hundreds of bank representatives from major lenders will also be in attendance to approve new applications on the spot.

For more information, visit NACA.

Comments (6)
  1. L_T says:

    Come-on people, do you think banks are in the business of helping people?
    They’re just another money grubbing entity saved by the mismanaged money from hard working taxpayers.

    1. Tim Trumble says:

      L_T, we invite you to some to the Convention Center and see the process for yourself. We are a non-profit organization and all of our services are free of charge, so using terms like “money grubbing” only shows that you are not aware of what NACA does.

  2. terry says:

    NACA or the BANKS don’t help they give you paperwork and tell you yes and then tell you is all you have to do is see the loan officer and it’s all taken care of but that was nothing but a LIE my sister and brother in law did everything brought in all the right papers and told them their whole life story and still in the end CHASE BANK wouldn’t approve it even though their REP did say yes it’s all a big RIP OFF the news needs to report the truth behind it all not just tell people their is hope for everybody when their isn’t CHASE BANK doesn’t care they want you to believe them but they LIE more then ROMNEY

  3. zograp says:

    ! Well the Banks are using this very program to force homeowners into foreclosure so they can capitalize on the Shared Loss Agreement that they have in place with the FDIC. disturbing how many homeowners are seeking aid and receiving none, while the banks and lenders continue to profit on this government program. In Their tactic is to discourage the borrower till they just give up..

  4. Tim Trumble says:

    Terry, the news does “report the truth behind it all” in reporting that NACA’s success rate is 80%. There simply are those who are not eligible for help for one reason or another. Yet nobody ever wants to believe that they are in that 20%. The simple truth is that the NACA program does work and the proof exists to back it up. Your claim goes so far as to mis-state what happens during the process and is in fact by your own admission second-hand, not even your own situation. It’s quite easy to try to place blame elsewhere, especially when you aren’t armed with all the facts.

    Zograp, as I responded to L_T, I invite you to come to the event and see for yourself. When you see the number of homes that are saved and the foreclosures that are prevented at our events, you’ll see how far wrong your statements are.

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