5 On Your Side

Conference offers hope for those facing foreclosure

Posted May 12, 2011 11:27 p.m. EDT
Updated May 12, 2011 11:29 p.m. EDT

— 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. 

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.