NATION’S LARGEST MORTGAGE MODIFICATION EVENT RETURNS TO LOS ANGELES

Runs 24 Hours for 5 days – More Than 100 Straight Hours

(Los Angeles, CA) – NACA, the nation’s leading homeownership and largest HUD certified non-profit counseling organization announces the return of the most effective and unprecedented foreclosure prevention event in the nation. The announcement takes place on Wednesday, September 30º at 11:00 am at the Los Angeles Convention Center. Participants at the press conference include California First Lady Maria Shriver who established We Connect, NACA CEO  Bruce Marks, homeowners and elected officials. 

NACA has joined forces with WE CONNECT to extend the program’s reach to all who need to save their home with a lower mortgage payment. Homeowners like Stephen and Nancy Martinez of Anaheim, CA were one of thousands who came to the Save the Dream Tour last year.  Their interest rate went from 6.625% to 2% for the life of the loan “…having NACA as our advocates made our dreams come true. We’re saving $1,118 a month,” said Nancy Martinez who lives in Anaheim. Other homeowners previously helped by NACA will talk about how the Save the Dream event has affected their life. Alex Molavi of San Jose, CA had his 5.75% interest rate drop down to 2 % saving $388 each month.

First Lady Shriver is supporting the non profit organization to bring its unprecedented program back to California. “ We Connect is designed to link working families with programs and resources that will help make them more financially secure.” said Maria Shriver. She continued, “Working in partnership with NACA in making the mortgage payment affordable in crucial in securing the financial health for California families,”

NACA’s Save-A-Thon has helped thousands of homeowners.   Many had their mortgage payment reduced by over $500 a month and some over a $1,000 with interest rates reduced to as low as 2% and sometimes a principal reduction. Many receive a permanent restructure the same day. This 24 hour-a-day, five day event begins at 9:00 a.m. Thursday, September 30º until 8:00 p.m. Monday, October 4º at the Los Angeles Convention Center.

There will be hundreds of NACA counselors to determine an affordable mortgage payment for the borrower, and hundreds of staff from all the major lenders to process and approve these solutions.  NACA has legally binding contracts with all of the major lender/servicers, and investors including Fannie Mae and Freddie Mac to make mortgages affordable.  And all NACA services are FREE

 “We are back in California because there remains a tremendous need to keep homeowners from losing their homes.  We saw massive turnouts last year and we expect the same this time,” says NACA CEO Bruce Marks who has been a leading advocate for homeowners during this foreclosure crisis.  “NACA has demonstrated that permanent modifications for tens of thousands of borrowers are possible when you create an effective system and have the lenders and investors meet face-to-face with the borrowers.  NACA’s Save the Dream Tour has been the one shining light in the mortgage crisis.” Said Marks.

WHO: LOCAL HOMEOWNERS, NACA AND CALIFORNIA FIRST LADY MARIA SHRIVER

O QUE: PRESS CONFERENCE ANNOUNCING SAVE THE DREAM TOUR

QUANDO:  WEDNESDAY, SEPTEMBER 29, [email protected] 11:00 AM
ONDE: L.A. CONVENTION CENTER, KENTIA HALL-1201 S. FIGUEROA ST., LOS ANGELES, CA

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 do ano.  For more information on NACA go to our website at www.naca.com .