According to foreclosure-tracking firm RealtyTrac, one out of 411 housing units in the U.S. received a foreclosure filing last month. To save their homes, those with expensive mortgages are turning to the Neighborhood Assistance Corporation of America -- a nonprofit organization offering loan adjustment solutions to struggling homeowners at their "Save the Dream" tour, beginning in Washington, D.C.
The tour will remain in D.C. for the next eight days, during which time NACA counselors will be working one-on-one with borrowers to make their payments more manageable, and will provide on-site lenders to help immediately approve modified loan agreements. NACA stands by the success of their programs:
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% or 2% and sometimes a principal reduction. NACA has legally binding agreements with all the major lenders / servicers to achieve this.
Watch a video of the event at ABC 7 News in Washington, D.C.: