Altadena, CA Home, Janes Village Neighborhood

Successful loan modification stories are too few and far between.   If you are a distressed homeowner, however, you will most likely want to look into all possible options, notwithstanding the numerous horror stories.

The Neighborhood Assistance Corporation of America (NACA) offers one of those options.  NACA is a non-profit HUD Certified organization which represents itself to be the largest and most powerful and effective advocate for homeowners in the country.  One of NACA’s programs is a loan modification program called “HomeSave Program” which is a part of NACA’s large multi-day loan modification tour called “Save the Dream.”

According to Mr. Bruce Marks, the founder and CEO of NACA,  HomeSave Program’s success rate is 55% to 80%.

NACA’s Home Save the Dream events are attended by all the major servicers, lenders and investors such as Bank of America, CitiMortgage, Wells Fargo, and Chase.   These lenders and servicers travel to each NACA Save the Dream event to participate in the multi-day loan modification event .

At the Save the Dream events  homeowners receive impressive  comprehensive counseling and support all free of charge.  There is no minimum or maximum income requirement.   Homeowners receive information on how to fill out forms, draft  budgets, and document their income and expenses.

Home owners then hold a telephonic counseling session with a NACA HomeSave Counselor who reviews the homeowner’s income, expenses, credit report and other documents to determine an “affordable mortgage payment” for the homeowner.   The counseling helps the homeowner put together a well documented file to support the requested modified monthly mortgage payment.

Once the counselor helps the homeowner determine a workable solution and the homeowners’ supporting documents are reviewed, the homeowner then meets with the Loan Servicer across the hall to negotiate a mortgage modification.

Who Qualifies for NACA’s HomeSafe Services?   Anyone who  has an unaffordable mortgage, owns and lives in their own home, and does not own another property.

What Documents Should You bring to a  NACA Save the Dream event?

1.  Verification of Income -

• If employed:  pay stubs for past 30 days,
• If Unemployed:  documentation on source(s) of financial support
• If self-employed:  6 months bank statements
• Documentation on any other source of funds, such as child support or rental income.

2.   Two most recent income tax returns

3.  Mortgage Statements  (1st mortgage and any other mortgages on property)

4.  Property Tax Statement reflecting annual tax amount

5.  Property Insurance Statement reflecting amount of premium

6.  Time, patience, and gratitude.

A calculator is also a helpful item to bring.  You will need to know your monthly debts and expenses (i.e. monthly food, car payment(s), electrical costs, etc) so it will be extremely helpful if you prepare a draft of your monthly expenses ahead of time and bring this information with you.  Some people pack snacks and lunch.  Some people volunteer and go to the front of the line.

Go to NACA.com for more information and for the schedule of their Save the Dream tour.  If you attend, please let us know your results!

See 60 Minute story on NACA’s Save-The-Dream Event.

If you want to know how to go to the front of the line, see NACA L.A. Loan Modification Save the Dream Event:  How to Avoid Waiting in Long Lines

For further information on volunteering at a Save the Dream Event, contact Ruth Saldana at rsaldana@naca.com.   Go to NACA.com for schedule of Save the Dream Tour schedule.

One of the most visible organizations involved in this effort is NACA, which stands for the Neighborhood Assistance Corporation of America and its “Save The Dream” tours.

” Welcome to NACA day three. Welcome everybody,” cries NACA President, Bruce Marks through a bullhorn.

[worldnow id=5819006 width=385 height=288 type=video]

Nationwide, hundreds of thousands of struggling homeowners pack convention halls because they are all facing the same problem: fighting foreclosure.

“We’re going to save your homes,” declares NACA’s leader.

NACA promotes free counseling services which it claims can help families keep their home.

At these events there are testimonials from grateful homeowners.

“They saved my home from foreclosure,” declares a teary-eyed woman.

But despite NACA’s claims, the CBS4 I-Team found angry customers all over the country, complaining that NACA didn’t  help them. Instead they claim, they were stuck in what some called, an endless cycle of paperwork.

“They promised that they would help me complete the application and get me on track for a mortgage modification,” says Stacy Schrager from Hollywood.

Schrager went to a NACA ”Save The Dream” event last year after becoming disabled.

The single mom couldn’t keep up with her mortgage payments anymore.

Chief Consumer Investigative Reporter Al Sunshine asked Schrager, “Did NACA help you get a mortgage modification?”

“No,” replied Schrager.

Across the country, California resident John Heinen called NACA’s program “the big hustle.”

“It was just one frustration after another, one promise after another, and one disappointment after another,” Heinan explained from the patio of his Sacramento condo.

After dealing with more than 14 different NACA representatives, having his loan documents sent to the wrong servicer and waiting almost two years for NACA’s help to modify his mortgage, Heinen dumped NACA.

“I went directly to my loan servicer and they fixed it in like four days,” said Heinen.

As a Massachusetts based non-profit, NACA doesn’t charge struggling homeowners any fees for it’s counseling services. So where does NACA get it’s funding?

“Well you know the fact is,” said Bruce Marks, “there’s not one dollar of tax money here.”

But that’s not what federal records show.

Documents from the Department of Housing and Urban Development report that NACA got $2.3 million dollars from HUD between 2008-2009.

NACA also collected $38 million dollars through another congressionally funded program called NeighborworksAmerica, between 2008 through 2010.

NACA’s latest tax records show revenues jumped from $28-million in 2008 to $45 million in 2009, with assests in excess of $63-million dollars.

Stacy Schrager, who is now in the middle of foreclosure proceedings, wonders where all the money went?

“A lot of people are making money off of foreclosures and short sales,” she said.

A recent HUD audit covering the period October 2009 through June 2010 found NACA “generally administered its HUD grants in accordance with HUD requirements.”

But the I-Team discovered that the federal requirements for organizations such as NACA, don’t mandate the groups actually get a loan modification for distressed homeowners. All they are required to do, in order to obtain federal funding, is show proof the person was counseled.

The audit report showed that NACA claimed to have counseled about 44,000 homeowners, with more than 22,000 thousand mortgages modified.

Gary Malis of Hollywood was one of them.

“It was a fantastic experience,” said Malis. “I would have lost the house without a doubt, absolutely without a doubt. NACA is a blessing.”

Congressional critics of government-funded mortgage counseling programs say there’s just too little accountability on how the money is being spent.
“Unfortunately, all these government-run multi-billion dollar programs have been a total disaster,” said U.S. Representative Mario Diaz-Balart.

The South Florida Congressman said, “ask the people in Southwest Dade or Southwest Broward if the federal programs have helped them with their mortgages that are upside down.”

The I-Team has learned that HUD recently suspended its latest grant payments to NACA, although the group is still HUD approved mortgage counseling intermediary. Through its spokesman, Darren Duarte, NACA officials released this statement to CBS4:

“NACA is the largest HUD Certified Counseling organization in the country.  We do 30% of all the housing counseling in the United States.  We have helped more than a hundred thousand homeowners stay in their home at a lower payment.  Most save $500 a month and many are able to save $1000.00 a month.  We are a non-profit that helps homebuyers and homeowners. 

NACA has been very critical in the local and national press of HUD and the current administration for not providing real help for struggling homeowners in America.  As a result of that, HUD has held back funding.”

The Neighborhood Assistance Corporation of America (NACA) office will be able to assist homeowners on an ongoing basis at 662 NE 125th Street. NACA Founder and CEO Bruce Marks, along with North Miami Mayor Andre D. Pierre, were in attendance at a ribbon cutting ceremony at the new location at 12 p.m.

Home buyers will have a chance to purchase their dream home without worrying if they can afford it, Marks said. NACA counsels people into responsible homeownership and work to make sure consumers can afford the mortgage provided.

[worldnow id=5617316 width=385 height=288 type=video]Robert Mulholand applied for a home loan with NACA.

“You also don’t pay any mortgage insurance and you also don’t have to pay any closing costs when you do your purchase, which we found could be anywhere from six to 10 percent of the cost of the home,” he said.

Last week the organization held a four-day Save The Dream Tour at the Miami Beach Convention Center to assist homeowners with their mortgage modification needs. When the Save The Dream Tour came to Miami Beach last year, their experts were able to help about 15,000 people get mortgage modifications.

NACA’s mortgage is a 30-year fixed mortgage with no down payment, no closing costs, no points or fees, the organization said.

North Miami is proud to be the newest home for NACA, an organization that has truly saved the dream of homeownership for tens of thousands of people across the nation, Mayor Pierre said.

“We realized that NACA needs a presence here in South Florida,” Pierre said. “We realized that NACA needs to be here to serve the community that needs the help the most.”

Marks said the organization is also able to assist in other cities in Florida.

“This is the first one in South Florida,” Marks said. “We have two others in Florida. One in Tampa and one in Jacksonville. This is the 40^th office around the country.”

The organization is urging residents throughout South Florida to get to know NACA and take advantage of their services.

NACA is a national non-profit community advocacy and HUD certified homeownership organization that has been fighting mortgage scams that decimate families and neighborhoods, according to the organization.

For more information about NACA visit www.naca.com .

Hundreds began lining up Thursday in anticipation to Friday’s launch of the program that runs through Monday, Feb. 28 as the Neighborhood Assistance Corporation of America’s (NACA) Save The Dream Tour has set up shop in the Miami Beach Convention Center from 8:00 a.m. – 8 p.m. each day.

“I’ve been in line since 4 o’clock yesterday evening,” attendee E.L. Stewart said. “I waited my turn patiently for the door to open up.”

[worldnow id=5606455 width=385 height=288 type=video]

During the four-day event NACA’s mortgage experts will assess and modify thousands of mortgages for those who feel they can no longer keep up with payments. The process begins with an orientation before meeting with loan counselors will figure out a family’s ability to pay. That information is then submitted to a lender for approval.

Stewart said he hopes the event will assist him.

“I’m hoping to get some modification help here…hopefully save my home,” he said.

Borrowers who qualify – about 50 percent will — can get low, 30 year fixed-rate mortgages; sometimes the lenders will even cut the principal amount owed.

Alberto Barcelo attended the event to apply for a loan modification. He said he feel behind after his business closed.

“Finally I’m getting somewhere today, hopefully, it looks like it,” he said. “So far we haven’t got that far but it looks very promising.”

Professional loan counselors at the event can cut through the red tape and submit the financials directly to the lenders.

“I have to prepare a budget for him and a hardship affidavit form, basically, so the bank can have his complete information and base their solution on what he can afford,” loan counselor Patricia Baez said.

Attendees will get an answer on their loan request before they leave they building but there are no guarantees.

When the Save The Dream Tour came to Miami Beach last year, their experts were able to help about 15 thousand people get mortgage modifications.

According to NACA “the Save the Dream Tour has been an incredible success with hundreds of thousands participants in various cities. Thousands of homeowners received same day solutions having their mortgage payments permanently reduced by over $500 and many by over $1,000 a month often with interest rates reduced to 3 percent or 2 percent and sometimes a principal reduction. NACA has legally binding agreements with all the major lenders / servicers to achieve this.”

Homeowners must register for the event in advance and are asked to bring the following documents:

a) Pay Stubs (most recent available 30 days) If self-employed Bank Statements (last six months)
b) Monthly Mortgage Statement (most recent available)
c) Property Tax Bill (most recent available)
d) Homeowners Insurance Bill (most recent available)

Registration is available online at naca.com or via phone at 888-499-6222.

I know plenty of good attorneys and mortgage professionals, honest people, who tried to assist clients with loan modifications.  They discovered that the banks were going to drag out the process for 6 months or more without success.  Alternatively, there were plenty of opportunistic groups who saw the chance to charge distressed homeowners thousands of dollars. These companies know there is little the homeowner can do to monitor the modification bank submission.  With only 20-30% modification success rate, there where thousands of consumers who felt defrauded – whether rightfully or wrongfully – by modification companies and law firms. 

In response, the California Bar Association and the Department of Real Estate reacted to the bad apples in the industry by adding some consumer protections.  It is now prohibited for any attorney or real estate professional to take up front fees. Attorneys and Realtors can only charge success fees.  Homeowners often ask me for good referrals, which is a tough thing to do because there are so few still assisting homeowners on their loan modifications. 

Consider from a business perspective the following – a company can:

i)                   Choose to remain in compliance and no longer offer loan modifications.

ii)                 Choose to remain in compliance, offer loan modifications and charge only upon success. This company will quickly go out of business if only 30% of the clients can be charged fees. How will they be able to cover staff and overhead?

iii)               Choose to charge consumers anyway. Even if the company is reputable, it is risky to pay a company / firm. If they are charging upfront fees, they risk being shut down should the Bar or Department of Real Estate determine they are improperly charging clients. 

So what is a homeowner to do if they want a loan modification and can’t hire a company to help? I recommend (1) call your bank, some lenders even have modification assistance centers set up to help; (2) call Neighborhood Assistance Corporation of America (“NACA”) (www.naca.com), a nonprofit agency – be persistent when working with NACA, they are swamped; and/or (3) call a HUD approved counselor at 888-995-HOPE (4673).  If you do hire a modification company or attorney to handle your modification, try to find one with good references.

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

If you have been struggling to get a loan modification, if you have been worried about making your payments or maybe you’re behind, then you need to get in your car and go for a drive.  The Neighborhood Assistance Corporation of America or NACA is sponsoring the Save-the-Dream Event for homeowners to learn their options and how to work with lenders to help them save their homes.  The Save-the-Dream Event is in Los Angeles on January 20-26 and Ontario on January 27-30. Come and talk through your options any time between 8am and 8pm.

Sign-up Here

NACA says, ” the historic Save the Dream Tour has been an incredible success with hundreds of thousands of participants. Thousands of homeowners received same day solutions saving hundreds some over $1,000 a month. All of NACA’s services are FREE”.

Chase Homeowner Assistance Events are an opportunity, one that is happening right now in Los Angeles,  for homeowners to meet face-to-face with loan advisors trained by Chase to get their loan modifications started and/or to help jump start their current mortgage loan modification process. Here is what the Chase website says:

LOS ANGELES (CBS) — Thousands of homeowners waited at the Los Angeles Memorial Sports Arena Thursday in the hopes of getting free advice to save their homes from foreclosures.

The Neighborhood Assistance Corporation of America began its annual Save-the-Dream tour in Los Angeles, kicking off 10 days of workshops and free one-on-one sessions with counselors to help homeowners stave off foreclosure. NACA, as the organization is also called, provides counselors that advise borrowers on how to get more affordable mortgage payments.

Homeowners waited in lines patiently, bringing camping equipment, and described their varying situations, some tearfully.

“Its 6.95 right now and it can probably go up to 10 or 12,” Cathie Rojas said, referring to her mortgage interest rate. If it does, “we’re not going to be able to afford it. We’re going to have to let it go. So this is the last shot.”

Paul Leonard, California spokesman for the Center for Responsible Lending, tells KNX 1070 the home mortgage system is “fundamentally broken”.

This event attracted more than 50,000 homeowners last year and expects to draw even more this year.

NACA, a non-profit, has contracts with major lenders like Fannie Mae and Freddie Mac, and gives homeowners an opportunity to meet face-to-face with representatives from their banks.

Some economists have forecast that foreclosures will peak in 2011.

“That’s why everybody’s here. Nobody wants to lose their house. Nobody wants to tell their kids, pack up. That’s hard – for them,” Gina Seanez said.

Homeowners seeking help from NACA should remember to bring proof of income, mortgage documents and bank statements.

Get more information on NACA’s website.

(©2010 CBS Local Media, a division of CBS Radio Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

The Neighborhood Assistance Corporation of America is set to begin their Save-the-Dream Tour in Los Angeles Thursday. The event is a week-long series of workshops on foreclosure prevention.

Hundreds of the organization’s counselors will work with borrowers to get more affordable mortgage payments.

KNX 1070′s Pete Demetrio spoke to some homeowners who have less than high esteem for mortgage bankers.

Last year, this free event attracted thousands of Los Angeles County homeowners.

Find out more about the Neighborhood Assistance Corporation of America.

(©2010 CBS Local Media, a division of CBS Radio Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. Wire services contributed to this report.)

NACA, Neighborhood Assistance Corporation of America, is hosting dozens of bank representatives at the World Trade Center in South Boston to help people modify or restructure their mortgages on the spot.

Counselors determine an affordable mortgage payments for the borrower with many plans approved quickly. 

NACA has contracts with leading banks to bargain in good faith.

The NACA Save-the-Dream event runs through Tuesday night, November 2, at 9:00 p.m. at the Seaport World Trade Center in South Boston.

WBZ News Radio’s Anthony Silva speaks with NACA President Bruce Marks about the event.

KCBS’ Tim Ryan Reports:
[audio_link url="http://www.podtrac.com/pts/redirect.mp3/nyc.podcast.play.it/media/d0/d0/d0/dV/dR/dY/dD/VRYD_3.MP3" name="Struggling Homeowners Seeking Help" artist="Tim Ryan"]

The line stretched at least a half-mile before the doors opened Friday.

“We’re still open,” declared Bruce Marks, CEO of NACA, the Neighborhood Assistance Corporation of America. “We’re going to be open until 8:00 p.m. Tuesday.”

Marks explained that his organization’s goal was to connect homeowners with lenders in hopes of modifying their loans. A majority of the nation’s major banks were there.

“My savings is gone because I’m trying to be a good citizen,” lamented Gloria Garnett, who dipped into her retirement nest egg to make her monthly payments. “I don’t want to mess up my credit.”

Some attendees walked away with interest rates as low as 2%.

“People are saving $500, sometimes $1,000 a month,” said Marks.

“I couldn’t imagine if we had to get out of the house,” said Mike Caz, who drove from Manteca with his wife. “It would crush me and her. It would just devastate the whole family.”

Caz and his wife waited overnight at the fairgrounds before seeing a lender.

“We’ve had close to 25,000 people come through,” Marks explained Sunday.

NACA’s services are free of charge.

(© 2010 CBS Broadcasting Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

Sacramento Bee

They came by the thousands, transforming normally festive Cal Expo into a venue emblematic of California’s nightmarish housing meltdown.

An estimated 10,000 people were in line Friday morning when the Cal Expo Pavilion’s doors opened on a five-day event aimed at helping distressed homeowners avoid foreclosure.

The line for the Neighborhood Assistance Corporation of America’s “Save the Dream” event stretched from the Pavilion, through Cal Expo’s east parking lot, onto Exposition Boulevard and nearly to Ethan Way – a distance of half a mile.

Sacramento-area homeowners stood shoulder to shoulder with those from all parts of California, Oregon, Washington, Nevada, Arizona and far beyond, hoping to have their mortgage payments lowered in order to keep their homes.

Their stories ran the gamut: underwater mortgages, unemployment, financial crises, long-missed loan payments and frustration trying to talk with lenders.

NACA officials this week wrapped up a six-day event at the Los Angeles Convention Center, where an estimated 40,000 came through the doors.

NACA CEO Bruce Marks said Friday that he expects that many at Cal Expo by closing time Tuesday.

“You’d think that the crowds would diminish by now, but they’re not. They keep coming,” Marks said. “This (Sacramento event) is probably going to have about as many as we had in Los Angeles.”

NACA, headquartered in the Boston suburb of Jamaica Plain, will be working with homeowners around the clock through 8 p.m. Tuesday.

Its services are free, and it serves both the employed and unemployed. Options include renegotiated loans, interest rate reductions, loan principal reductions and mortgage restructuring. NACA said it has legally binding contracts with major lenders, including Fannie Mae and Freddie Mac.

Read more: http://www.sacbee.com/2010/10/09/3091190/10000-wait-in-line-at-cal-expo.html#ixzz11uTuhBNd ]]> http://losangeles.cbslocal.com/2010/10/01/thousands-line-up-for-free-mortgage-help/ Fri, 01 Oct 2010 16:13:48 +0000 cbsjenn http://losangeles.cbslocal.com/2010/10/01/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.

[worldnow id=5160050 width=385 height=255 type=video]

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.)

10 /Christian Newswire/ — World Congress of Families V opened on August 10, 2009 at 10:30 AM at the RAI Center in Amsterdam, The Netherlands. The theme of the opening session was Modern Families, Traditional Values. …

Moreover, only the family “can serve as a counterpoint to the current global economic crisis, because at its center it is a source of social solidarity and civil progress,” the bishop said. The World Congress of Families is an …

The fifth World Congress of Families (WCF), a gathering organized and co-sponsored by an array of right-wing organizations such as the Howard Center for Family, Religion and Society, Concerned Women for America, Human Life International …

The fifth World Congress of Families (WCF), a gathering organized and co-sponsored by an array of right-wing organizations such as the Howard Center for Family, Religion and Society, Concerned Women for America, Human Life International …

10 /Christian Newswire/ — World Congress of Families V opened on August 10, 2009 at 10:30 AM at the RAI Center in Amsterdam, The Netherlands. The theme of the opening session was Modern Families, Traditional Values. …

The paragraph that you just read comes directly from the NACA.com website.  I was blessed enough to attend the “Save The Dream Tour” in Chicago, at the McCormick Place,  on Saturday, July 25, 2009.  I say blessed because I was able to meet directly with my mortgage company, Citimortgage, and work out a plan to lower my interest rate to a level that I can afford.  We have to get a final approval from FHA, which actually owns my mortgage, but the entire process was very informative, organized, and well worth the six hours that I spent there.  Yes, I said six hours, but I’m sure that was only because I attended on Saturday morning which was probably the busiest time of the event.  Special thanks to my mom for telling me about the event after hearing about it on WVON-AM.

I am sharing this news with you because so many people asked me after I attended if it was worth going to.  YES!  I encourage you to check out the NACA website and allow them to help you too.

DeaconDavid

NACA’s Home Save program operates under agreements with major lenders and servicers across the country to restructure mortgages for individuals at risk of losing their homes. On the purchase side, NACA provides free mortgage counseling and origination services to individual home buyers.

NACA’s Counseling Center is located in the Charlotte East office park off Albemarle Road between Central Avenue and Farm Pond Lane.

“NACA is excited it’s putting more than a thousand people to work in Charlotte,” says NACA CEO Bruce Marks. “These jobs are crucial as NACA leads the campaign nationwide to make mortgages affordable by permanently reducing the interest rates and, where necessary, reducing outstanding principal. The support of Governor Perdue and the Charlotte Chamber has made this all possible.”

“Charlotte continues to be recognized as a leader in financial services with a talented and experienced labor force,” notes Charlotte Chamber Chairman Tim Belk. “We are pleased to welcome NACA to the community and look forward to the investment in jobs and presence they will bring to our East side.”

Charlotte East owner Roger Kellogg, Kellogg Development Company, and Eric Speckman, Director of Leasing, have worked closely with NACA since 2007 when the nonprofit established a small office in the park.

NACA’s expansion is supported in part by a $1 million grant from the One North Carolina Fund. The Charlotte Chamber assisted NACA throughout the project and thanks Governor Perdue and the North Carolina Department of Commerce for their efforts to bring much-needed jobs to Charlotte.

Click here to read the State of North Carolina’s official release.

Job seekers are encouraged to attend NACA’s JOB FAIR on Friday and Saturday, June 12 and 13, from 8:00 AM to 8:00 PM at the NACA Counseling Center, 5855 Executive Center Drive, Charlotte, NC 28212.

The Neighborhood Assistance Corporation of America (“NACA“) is a non-profit, community advocacy and home ownership organization. NACA’s primary goal is to build strong, healthy neighborhoods in urban and rural areas nationwide through affordable home ownership. NACA has made the dream of home ownership a reality for thousands of working people by counseling them honestly and effectively, enabling even those with poor credit to purchase a home or refinance a predatory loan with far better terms than those provided even in the prime market.

What is the first step to becoming a home owner through NACA?
You’ll need to attend a NACA purchase workshop. You can go to www.naca.com or call 888-302-6222, and sign up for the next workshop nearest you. Feel free to ask questions by calling the number or Calling Edwin Gerace at 803-957-5566

Feel free to email Edwin Gerace for more information mail@609sold.com or call him at 803-957-5566 or his cell at 803-609-7653.

Is there down payment and additional closing cost when using NACA?
There is no Down Payment or Closing cost There are no cost besides what NACA helps you save for the closing of your new home.

Who is eligible for NACA?
Everyone who does not own a home. You can sell your home, and then buy a new one with the NACA program

Can I buy a new home using NACA?
Yes

How does NACA’s Interest Rates compare to National Banks?
NACA’s Rate is always one point below the Conventional rate. Very Competitive.

Does NACA help me work through my financial issues so that I can buy a house now and in the future?
Yes. They guide you on down payment, monthly payment, saving money, and budgeting so that you are set up for success.

What are some of the major misconceptions of NACA?
NACA takes to long. NACA will work with each individuals circumstance to pre-pare them for home ownership. Depending on the client but you can expect a time frame from 3 weeks to what it takes to get you ready for home ownership.

NACA Overview
NACA Membership
Search Homes in Columbia SC
Kids Eat Free
About Edwin Gerace

Information was gathered from a Local NACA Representative.

-RFW

See previous articles here and here.

If you were unable to make it to the Coliseum this weekend, don’t fret.  You can visit NACA online at www.naca.com or call toll-free 1-888-302-NACA.

-RFW

PS – For earlier coverage of this story, click here.

Where: Columbia, SC

What: NACA Save the Dream Event allows some homeowners to restructure their mortgages the same day

Hosted by: Representative James Clyburn

Cost:  FREE

Thousands line up to meet with Neighborhood Assistance Corporation of America (NACA) counselors to discuss their mortgages and keep their homes. According to an article in the Columbia Regional Business Report (CRBR), more than 10,000 people participated in the first three days of the Save the Dream event. NACA’s role is to work with homeowners and lenders to stave off foreclosures; often by reducing mortgage rates.

U.S. House Majority Whip James Clyburn was instrumental in bringing the group to Columbia. According to the CRBR report, Rep. Clyburn noted that “homeownership is the most widespread access to wealth in this country.”

According to an article in The State, 202 counselors were on hand to evaluate each homeowner’s situation; which averaged 45 minutes per case.

Even though the special event ends today, NACA will continue its work in South Carolina at its offices in Columbia and Charleston as well as its nearby offices in Augusta, Georgia and Charlotte, North Carolina.

If you are a homeowner and have questions, click here or call toll-free 1-888-302-NACA. Information is also available in Spanish here. (Español aquí)

-RFW

The protesters from the Neighborhood Assistance Corporation of America sat on the steps of the company’s expansive brick headquarters and demanded that the government-controlled company modify loans to lower interest rates.

After demonstrating for several hours they met with company CEO Herbert Allison and other top managers this afternoon.