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Mortgage assistance fair kicks off in LA

January 20, 2011 12:00:00 AM PST
An 11-day homeowner assistance fair designed to help people who need to work out a payment plan to avoid foreclosure kicked off on Thursday in Los Angeles. The Neighborhood Assistance Corporation of America, or NACA, is once again holding its Save The Dream event.

In the past, the event was held at the Los Angeles Convention Center, but this year it's at the The Los Angeles Sports Arena, which has plenty of seating and close parking.

All services are free. About 6,000 people were already inside Thursday morning. Many of them camped outside the venue overnight, because they're trying to save their home from foreclosure.

"I've been trying to re-modify my loans for the past year," said homeowner Paul Winters.

"We expect over 100,000 people, because we're here for 11 days. So people from throughout California and the neighboring states will come here because it's the only real solution out there for so many of at-risk homeowners with unaffordable mortgage," said NACA chief executive Bruce Marks.

For thousands of homeowners, this is a chance to meet with mortgage counselors and their lenders face-to-face, in hopes of getting a loan modification.

"I want to save my house," said homeowner Letty Garcia. "I have all of my documents and my heart is in the right place."

NACA organizers said they expect 80 percent of people who go to the convention to get some sort of assistance on their mortgage.

The convention goes from 8 a.m. to 9 p.m. everyday until Jan. 30.

People who go to the event should bring:

  • Two most recent pay stubs
  • Two most recent bank statements
  • Most recent utility bill