(Washington, DC) Over a thousand homeowners will urge President Obama to advocate for homeowners during his appearance at the Urban League Conference at the Washington Convention Center on Thursday, July 29TH from 9:00 a.m. through 10:00 a.m. Homeowners are attending the NACA Save-the-Dream Event in Washington. NACA is the most effective foreclosure prevention organization in the country. While NACA has been the lifeline for thousands of homeowners, the President has the ability to affect many more.
Homeowners from around the country say that President Obama’s Making Home Affordable plan has not helped the vast majority of homeowners in trouble with their loans and does not go far enough by excluding FHA backed loans.
“President Obama needs to set the standard by assisting FHA borrowers”, says NACA CEO Bruce Marks. “He also needs to stop pleading, begging and bribing the banks to keep people in their homes. He must require them to do so. We need to get past the slogan of “Yes we Can” to actually making it a reality,” continues Marks
A thousand homeowners will carry signs and urge the President to support the homeowners, many of whom were his base of support. Many feel that President Obama needs to remember the working people who are struggling rather than Wall Street which is now back in growth mode. They want him to keep his campaign promise to do everything he can to hold the banks accountable, stop foreclosures and make mortgages affordable.
On the first day of NACA’s Save the Dream event in Washington, homeowners from around the country camped out at the Convention Center hoping for a chance to save their homes. Many achieved same day solutions but others, particularly FHA and Chase borrowers, could have if Obama would use the authority of his office to help working Americans save their Dream of homeownership rather than bailing out the banks and wall street while leaving main street behind.
NACA’s HomeSave program is extraordinarily successful; while President Obama’s foreclosure prevention program is failing. This is the 20th event NACA has conducted, and they are back in Washington – the city where the very first Save the Dream event was held in 2008. NACA has been the shining light in the struggle to keep people in their homes and NACA is now in Washington for eight days demonstrating that the government should do what NACA is getting done.
NACA has legally binding agreements with all the largest servicers and the largest investors (i.e. Fannie Mae and Freddie Mac). We provide thousands of homeowners with long-term affordable payments by reducing their interest rates to 4%, 3% or as low as 2% and sometimes reducing the outstanding principal. Many homeowners get mortgage payments cut the very same day by over $500/month and sometimes over $1,000/month. And NACA services are Free. If a non-profit like NACA can accomplish this, President Obama should be able to do much more. NACA’s Save the Dream event in Washington will go much longer. Eight days, 24 hours a day, that’s nearly 200 hours of uninterrupted service providing many homeowners with long-term affordable solutions. We want to make the NACA standard the national standard.