• BREAKING NEWS ABC shows live and on-demand -- Download the WATCH ABC app!

Non-profit helps hard-pressed homeowners

September 24, 2009 12:00:00 AM PDT
Hard-pressed homeowners, who need answers about their mortgages, are getting some help at the L.A. Convention Center. Long lines of people waited to get into the L.A. Convention Center Thursday to get help with their mortgages.

Hundreds of homeowners showed up hoping to get their home loans modified. Many of them came from out of state. Some even slept outside the L.A. Convention Center.

"I arrived here yesterday at around 3 p.m. I waited patiently for them to open. We flew in from Atlanta," said homeowner Samantha Weaver.

The "Save the Dream Tour" will be at the convention center for the next five days. The non-profit organization NACA is hosting the event.

"We are going to see over 50,000 people over the next five days," said Bruce Marks, NACA CEO and founder. "We are going to get thousands and thousands of same day solutions, where homeowners are going to be saving $500 to $1,000 a month."

Nearly 400 counselors with NACA are helping homeowners to lower monthly payments, interest rates and even the money they owe. The best part is the service is free.

Most of the major banks are at the event. They are all meeting with many of the desperate homeowners.

"I used to be able to afford my house. I worked for the airline," said homeowner Carlos Sequiera. "But with all of the cutbacks I loss about 25 percent of my salary."

Unfortunately, it didn't work out for Samantha Weaver because she has an FHA loan, but for others it was a great day.

"I was able to save my home. I don't have to move out," said homeowner Shalonda Jordan. "I don't have to go into foreclosure. I went from $3,000 to $2,000 a month."

"I went from a $1,900 payment to a $1,393. I am really excited. It was worth it the trip," said Sequiera.

The "Save the Dream Tour" continues through Monday. You can get help between the hours of 9 a.m. and 8 p.m.


Load Comments