NACA To Help Struggling Homeowners, Prospective Buyers Through Monday

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.