5 On Your Side

Conference offers hope for those facing foreclosure

Posted May 12, 2011

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— A national non-profit organization drew crowds Thursday to the Raleigh Convention Center where homeowners in a bind could get advice and assistance in mortgage modification.

The Neighborhood Assistance Corporation of America helps struggling homeowners restructure their loans with banks. The Save The Dream event drew homeowners from as far away as Maryland and South Carolina.

"I'm here today hopefully trying to get some reprieve on my mortgage," Deandre Burgos said. 

Homeowners flock to Raleigh for help Homeowners flock to Raleigh for help

NACA founder Bruce Marks said counselors certified by the Department of Housing and Urban Development bring homeowners face-to-face with loan servicers and are often able to work out restructured payments on the spot. 

"I have the best job in the country. People come up to me and they say, 'You saved my house. you saved my family,'" he said.

NACA helps about four out of five people to adjust their payments and get on the road back to security, Marks said.

Some banks pay a fee to work with NACA. The service to homeowners is free. 

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  • superman May 13, 2011

    I feel sorry for people who have lost their jobs. Many people would have been in that situation anyway whether they had a job or not. They bought way more house as well as car than they could afford because of greedy lenders who wanted to loan money and real estate agents who wanted to sell. Cut up those high interest credit cards. My house, 3 cars and everything I own is paid for. Pay off my credit card every month and get money back. I am able to put 4 figures in my savings account each month. Learn what you can afford. By the way, I am probably one of a very few people who does not feel I have to have a cell phone.

  • wa4dou May 13, 2011

    "If you really want to help yourself, take Dave Ramsey's advice. Get out of debt, don't worry about your credit score, and live on less than you make. Works like a charm every time it's tried."

    That is top notch advice!

  • Pseudonym May 13, 2011

    If you really want to help yourself, take Dave Ramsey's advice. Get out of debt, don't worry about your credit score, and live on less than you make. Works like a charm every time it's tried.

  • josephlawrence43 May 13, 2011

    Hopefully this will help a lot of people. But, question--what happens if the applicants don't have an income of any description??

  • ctya May 13, 2011

    I guess I don't understand why people you use Save the Dream because I just called my mortgage company and was able to get a modification with no problem. Are they just letting people know modification are available?

  • Questioning May 13, 2011

    You can forget getting any help from NACA. I attempted 8 times to get a loan modification with Chase for a year. If you try to deal with NACA then your lender will refuse to talk to you anymore. NACA is all about promoting themselves through these events but when you need to talk to them regarding your modification status you can not get anyone on the phone. Their helpline is so incredibly understaffed because they are always sending everyone to these "Save the Dream" events. Visit www.loansafe.org or naca.org and review the forums. You'll see how thousands of people have found out how useless NACA and Hope Now can be.

  • C6-YA May 13, 2011

    It's a nice thought, but I haven't been successful in my mortgage modification. Bank's just don't care.