NACA SAYS NO TO  BAILOUT

(Washington, DC) As Congress debates approving Treasury Secretary Henry Paulson’s plan to rescue the economy, one key sector of the public has not been heard from: America’s homeowners facing a wave of foreclosures and mortgage interest rate resets.  Homeowners will confront the leaders of the Senate and House on their abandonment of American homeowners and taxpayers.  NACA homeowners will be in the offices of Senator Harry Reid, Mitch McConnell, House Speaker Nancy Pelosi and Republican Leader John Boehner. 

The Neighborhood Assistance Corporation of America (NACA.com), representing hundreds of thousands of homeowners opposes the Wall Street bailout “Leave No Banker Behind” bill because it will not, as presently written, stop foreclosures and make mortgages affordable.

On Thursday September 25th beginning at 2:30 pm, NACA will be on Capitol Hill to advocate against giving $700 Billion of taxpayer money to the very people who created and profited from the crisis and now act as if they didn’t see this coming.  Homeowners will demand Senate and House Leaders take “appropriate” action and focus on the real issue of requiring Wall Street to restructure loans for America’s owner-occupants struggling to pay the toxic mortgages created and forced on them by the lenders.

“Washington is about to reward Wall Street and predatory lenders for their greed and irresponsible lending tactics which created the mortgage crisis,” says NACA CEO Bruce Marks who will lead the protest. “We cannot let this pass without help for the millions of homeowners at risk of foreclosure and the millions who were put into these unaffordable mortgages.”

NACA demands:

1)    A moratorium on foreclosures.

2)    Freeze on interest rate increases.

3)    Require lenders to restructure mortgages to make them affordable

Homeowners will assemble at the Senate offices of Harry Reid and Mitch McConnell at 2:30 PM before descending on the offices of House Speaker Nancy Pelosi and House Republican Leader John Boehner. For more information, contact Darren Duarte at (617) 947-2632.

WHAT: PROTEST AGAINST WALL STREET BAILOUT

WHEN: THURSDAY, SEPTEMBER 25, 2008 @ 2:30 PM

WHERE: OFFICE OF SENATOR HARRY REID

      SEN. MAJORITY LEADER

                  528 HART SENATE OFFICE BUILDING, WASHINGTON, DC

               OFFICE OF SENATOR MITCH MCCONNELL

                 SEN. MINORITY LEADER

                 361-A RUSSELL SENATE OFFICE BUILDING, WASHINGTON, DC

WHY: REPAIR FINANCIAL CRISIS BY MAKING MORTGAGES AFFORDABLE