My home was all but lost until NACA stepped in and reduced my adjustable interest rate from 8.625% to 2% fixed. I'm saving nearly $600 a month.
Chicago, OH (PRWEB) July 17, 2009
Homeowners in Chicago, Illinois, can avoid foreclosure, restructure home loans, and reduce mortgage rates with help from the Neighborhood Assistance Corporation of America (NACA). NACA will be holding a Save the Dream event at McCormick Place on July 24-27, 2009. This is a continuation of NACA's nationwide Save the Dream tour, where more than 25,000 homeowners have already participated and thousands of homeowners achieved affordable long-term solutions.
NACA CEO Bruce Marks said, "The NACA homeownership program is our answer to the huge subprime and predatory lending industry. NACA has conclusively shown that when working people get the benefit of a prime rate loan, they can resolve their financial problems, make their mortgage payments and become prime borrowers. NACA's track record of helping people who have credit problems become homeowners or restructuring a predatory loan debunks the myth that high rates and fees are necessary to compensate for their credit risk."
Started in 1988, NACA has led successful advocacy campaigns against predatory and discriminatory lenders as well as providing the best mortgage program in America with $10 billion in funding commitments. NACA is bringing its community organizing and unprecedented mortgage program to the diverse communities in Illinois to assist people in achieving the dream of homeownership.
NACA has the most effective long-term mortgage solution for at-risk homeowners because it permanently reduces the interest rate, often to 4%, 3% and 2%, and if necessary reduces the outstanding principal based on what the homeowner can afford. This enables working people in Chicago, Illinois, to avoid foreclosure by helping them to restructure their home loans and reduce their mortage rates.
NACA's solution has established the national standard for long-term solutions for thousands of owner-occupant homeowners. NACA can do this because it has secured legally binding agreements with most of the major lenders and servicers, which covers 90% of the at-risk homeowners.
All of NACA's services are free. Homeowners drive and fly from long distances to attend these extraordinary Save the Dream events. At the Columbia South Carolina event, people came from throughout the southeast and as far away as Los Angeles. NACA had over 500 staff and volunteers who put in long hours and lots of hard work to help so many homeowners save their dream.
Simeon Lewis of Chicago is one of the thousands already helped by NACA. "My home was all but lost until NACA stepped in and reduced my adjustable interest rate from 8.625% to 2% fixed. I'm saving nearly $600 a month."
Anyone interested in attending should pre-register for an appointment if you can but you can also register when you arrive. You can register online at naca.com or by calling toll-free to (888) 499-6222.
About the Neighborhood Assistance Corporation of America (http://www.naca.com):
Founded in 1988, NACA is a national non-profit community advocacy and homeownership organization headquartered in Boston. Through its 38 offices nationwide and two call centers, NACA has set the national standard in restructuring thousands of mortgages to what homeownerscan afford.
News of NACA's program and advocacy has been featured in national and local media. The Boston Globe chose Bruce Marks, founder and CEO of NACA, as its 2007 Bostonian of the Year. There is tremendous recognition for the effectiveness of NACA's advocacy and for providing real, affordable homeownership solutions for working people.
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