Giant Foreclosure Prevention Event Coming to Bay Area

Mon, Sep 28, 2009


Neighborhood Assistance Corporation of America
360 housing finance experts and 200 bank representatives are heading toward the Bay Area to help save homes and prevent foreclosures. Richmond’s Craneway Pavilion is a stop on the Neighborhood Assistance Corporation of America’s “Save the Dream tour.”

NACA is a non-profit, hud certified counseling agency that has negotiated agreements with some of the largest home loan servicers- B of A, Well Fargo and Chase. They hold “one-stop” events where homeowners work with a housing counselor and a loan servicer to try to reach a solution in one day.

Here is an excerpt from an SF Gate Article about the coming event:

‘”We get the job done for the individual homeowners,” Marks said. “We have legally binding agreements with every major servicer - Wells, Bank of America, Chase. We do an orientation for about 500 homeowners at a time, then they meet with individual (NACA) counselors; they bring all their documentation and we scan it in. We determine what payment they can afford, then we submit their file to their servicer. The homeowner goes to meet with their servicer, who’s right next to the counseling area; the servicer says, ‘Here’s your solution.’ ”

Marks said attendees typically end up with affordable mortgages fixed for 30 years at low interest rates - sometimes as low as 2 percent - and often with a principal balance reduction.’

To read the full article click here.

Below is an ABC News TV report on NACA:

Here is an NPR Radio report on NACA:

(Editor’s note: We have replaced the original 2009 report with a more recent NPR report about NACA.)

If you go, you’ll need: pay stubs or records showing 30 days of income; recent mortgage statement; documents showing amounts paid in real estate taxes and homeowners insurance; and a hardship letter explaining the reason mortgage restructuring is needed.

Registration is not required, but those who sign up in advance and submit documentation online will see counselors first. To register visit

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9 Comments For This Post

  1. Blanca Castaneda Says:

    I need some assistence in keep my house, I am behind with some payments and the morgage is trying to charge a lot every month payments that I won’t able to make in the future I am looking how to refinance my house, I need some help God bless who can read this and can help me to do not lose my house

  2. becca Says:

    You do not provide enough information for any of us to be able to advise you with any specific detail. I suggest you attend a foreclosure prevention workshop - we have one in Oakland on 11/11, 11/18 and 12/3, from 6-9 pm. If you are more than 6 months past due, you shd call a HUD approved cousnelig agency and get help immediately. Si necessita ayuda en espanol, se puede llamr a nosotros a 510-535-6943, para apprendar como commensar el processo. Out intake number is 510-535-6920.

    If you are unemployed, or have lost a significant amount of income, your best bet is to ask for a forbearance agreement where the lender agrees to defer some or all of your monthly payment for a specific time period while you look for work.

    You can forget about refinancing if you have missed more than 1 or 2 payments on your mortgage.

    Modification is different from refinancing, and forbearance is different from both of those. You need to learn what your options are. Go to or and look up a housing or foreclosure counselor in your area.

    Sheri Powers, JD, MA
    Homeownership Center Director
    The Unity Council
    3301 East 12th Street, Suite 101
    Oakland, CA 94606
    510-535-7181 direct
    510-532-5983 fax

    A NeighborWorks Chartered Member and
    HUD-Certified Counseling Agency

  3. larry walker Says:

    i need some advice and help from some one within NACA who can tell me if they have any one who can do a full forensic mortgage analysis, and any legal firm who can help me with a mortgage fraud case against american home mortgage servicing inc, (a debt collection company) they are the new servesing company for our note, our mortgage company is in chapter 11, and the new company has took it up themselfs to change the note amount, the truth in lending law, they changed our monthly payments from $2,00570 to $4,749.09 and our escrow payment has went from $512.00 to $1,125.16 our note that we signed in feb, and march of 2006 was for $550,050.00 and now they tell me the note is some where between $600,000.00 and $848,000.00 they offered me a new loan modification note, however it would cost $74,000, and i had to signe it within 7 days, and i could not ask any questions. I refused to sign it because it contained bogas, false, incorrect, inaccurate and misleading information. Now they state they are going to file for foreclosure. any help that your company can get me i thank you and there are several hundred, if not thousands of citizens just like me looking for the exact help with this company, the bbb and ftc, and the missouri attorney general are no help, i have hired a lawyer and he has took a lot of money, and done nothing, and now he is asking for more money, $70 for stamp and mail a letter, #300.00 to make a telephone call. $900.00 if it is a conference call, and this company has violated ever law in the book. thanks for a reply larry

  4. Michael DelaRiva Says:

    When will another NACA tour to help communities prevent foreclosure come to San Leandro, CA . BAy area ?

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