Non-Profit in Florida Saves Thousands from Foreclosure

Amy Munday's picture

The Neighborhood Assistance Corporation of America (NACA) sponsored a 5 day, 24 hour, "Save-A-Thon" for people that need to have their home loans modified. The event is being held at the Palm Beach County's Convention Center in Florida, but help is extended to everyone across the country. Hoards of people waited in line before it began, wrapped in blankets and exhausted from their travels.

The non-profit NACA "has made the dream of homeownership a reality for thousands of working people by counseling them honestly and effectively, enabling even those with poor credit to purchase a home or refinance a predatory loan with far better terms than those provided even in the prime market."

Their Home Save Program is reaching thousands to do what a government program is also doing, modifying mortgages that are in danger of defaulting or being foreclosed on. The Home Affordability Modification Program (HAMP) is hoping to help millions keep their homes, but it's going to take a few years. The last press release stated only 116,000 have been permanently modified, even though almost a million were currently in the process.

Many of the people came in the middle of the night because they couldn't take off work during the day, which is why the hours are extended and available all day long, literally. NACA is making this happen by involving government programs and using deals it has the large corporations such as Bank of America, who was recently pressured by president Obama to start participating in HAMP and start approving more loans.

Homeowners with success stories and tears run rampant through the large convention building because of the large amounts of money they're now saving but also because many of them get to keep their houses. Forcing a family out of their home rather than modifying their mortgage will only hurt the already bruised economy.

Written by Amy Munday

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