(New York, NY) While the Obama administration’s plan to help homeowners avoid foreclosure is failing, NACA’s Save the Dream Tour has been one shining light in the mortgage crisis. At 12:00 p.m. on Thursday December 10th, at the Jacob Javits Convention Center located at 429 11th Ave, New York, NY 10001. NACA’s CEO Bruce Marks, along with homeowners previously helped in the program, will announce the Save the Dream Tour’s arrival in New York City.
NACA’s Save the Dream events are incredible with thousands of people having their mortgage payments permanently reduced by over $500 and many by over $1,000 a month often with interest rates reduced to 3% or 2% and sometimes a principal reduction. Many will be done the same day. We expect more than 50,000 homeowners during the five days. There will be over 350 NACA counselors to determine an affordable mortgage payment for the borrower, and hundreds of lender staff from all the major lenders to process and approve the solutions. NACA has legally binding contracts with all of the major lender/servicers, including Fannie Mae and Freddie Mac. All of NACA’s services are FREE.
At a congressional hearing before the House Financial Services Committee on Tuesday where Bruce Marks NACA’s CEO testified on the lack of effectiveness of the banks, Members of Congress praised NACA for its work on behalf of homeowners. Bruce Marks testified about the effectiveness of NACA’s Save the Dream Tour and recommended ways for Congress to require lenders to restructure mortgages on a large scale.
“NACA has shown that permanent modifications for tens of thousands of borrowers are possible when you provide lenders with the proper tools and require them to make mortgages affordable.” says Bruce Marks NACA CEO. “President Obama needs to stop pleading, begging, bribing and now shaming the lenders to do what they should be required to do. It is good that representatives from the Treasury Department will be visiting the NACA’s Save the Dream Event in New York City to witness the NACA solution to the foreclosure crisis in person. Our goal is to make the NACA standard the national standard.”
The Save the Dream event takes place at Jacob Javits Convention Center in New York City located at 429 11th Ave, New York, NY 10001 for five days from Friday, December 11th through Tuesday December 11th from 9 am to 8 pm each day.
All of NACA’s services are free. Homeowners drive and fly from long distances to attend these extraordinary Save the Dream events. Anyone interested in attending can pre-register at naca.com; or register by calling toll-free (888) 499-6222. Walk-ins are welcome.
The incredible success of NACA and its Save the Dream Tour was featured recently on the CBS Evening News and on ABC’s Nightline https://vimeo.com/557642889 as well as on National Public Radio.
NACA’S CEO Bruce Marks was named Bostonian of the Year for 2007 because of his work in getting the major lenders and servicers to modify home loans for borrowers who come through NACA. See Bostonian of the Year.