|If you believe everything you watch on the newscasts, CNN or other business news channels, one might think there is no way out of the mortgage crisis in America. It remains to be seen if the nation's mortgage lenders respond to President Obama’s recent demand that they implement plans to help struggling homeowners.|
Thank God, there are options for struggling homeowners and aspiring homeowners to obtain affordable payments so they can still have their slice of the American Dream. In an effort to provide hope to my readers I will feature programs you may be able to take advantage of in order to have an affordable mortgage and help you enjoy your biggest investment-your home.
Neighborhood Assistance Corporation of America (NACA)- NACA is a non-profit community advocacy and homeownership organization based in Boston, MA. More than 20 years ago, founder, Bruce Marks started the agency to fight against predatory lending practices. NACA has more than 31 locations, including a branch office in Inglewood, CA.
Because of their success and funding more than $ 10 billion in funding commitments, NACA has a legitimate claim to fame as providing “the best loan program in America”. Their free services include the following:
· “Home Save Program” is designed to help their members avoid foreclosure. Through this process, many NACA members have received reduced interest rates to as low as 2% fixed-for the life of the loan.
· NACA’s “Save The Dream Tour” which is held in various venues around the country offer homeowners the opportunity to meet with their lender on the spot and negotiate affordable terms. In September I attended the event held at the Los Angeles Convention Center. I personally witnessed members walk away with immediate solutions to their dilemma, including foreclosures being terminated, delinquent payments being forgiven, saving hundreds of dollars from their mortgage payment, reduction of their mortgage balance and low fixed interest rates.
· “Home Purchase Program” provides aspiring homeowners with the opportunity to purchase a home with the lowest interest rates available with no money down.