NACA Home Loan Modification
Troubled South Florida homeowners have only until the end of Tuesday to line up for Neighborhood Assistance Corp. of American (NACA)-sponsored mortgage-modification marathon.
While NACA spokesperson, Darren Duarte, could not ascertain as to how many mortgages were successfully modified, he accounts that some 13,000 residents (from 8,200 households) have already taken advantage of their services.
Acting as a pro-homeowner mortgage broker, the NACA loan modification program mediates negotiations with big lenders and recommends some of their own loans. The organization helps homeowners facing foreclosure by agreeing to minimal fixed interest rates that will result to greatly-reduced monthly installments.
The NACA has put up their 24-hour counseling sessions at the Palm Beach Country Convention Center. Most of those who participated are homeowners nearing foreclosure options.
This is NACA loan modification program’s third mortgage-marathon, also dubbed as the “Save The Dream” tour, in South Florida this year has experienced an 80-percent success rate on its fourth day. It will continue until 8 p.m. on Tuesday.
To qualify for NACA’s program, homeowners have to live in their own homes. Before you head to the Palm Beach County Convention Center (650 Okeechobee Blvd., West Palm Beach), make sure to be armed with your updated monthly mortgage statements, property tax bill, some pay stubs and homeowner’s insurance bill.
Photo credit: nikcname / Flickr
