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Entries in Neighorbood Assistance Corporation of America (1)

Thursday
Jun022011

Thousands of Homeowners Turn Out for Loan Modification Expo

Digital Vision/Thinkstock(LOS ANGELES) -- More bad economic news is not welcomed for thousands of suffering homeowners camped outside the "Save the Dream" loan modification expo in Los Angeles.  Heading in to meet one-on-one with their lenders, many people are frustrated, angry and hoping this will be their chance to be heard.

Hosted by the Neighborhood Assistance Corporation of America (NACA), "Save the Dream" lasts for five days and helps homeowners with loan modifications that could prevent possible foreclosures.  NACA provides these services free of charge.

The pressure of the economy and worry about losing her home has one woman named Versia asking for help.  She says keeping her head above water in this economy is a daily battle.  She's tried to get her loan modified repeatedly, but so far has had no luck for two years.  Now in danger of losing her home, she comes here to see her lender face-to-face.  
 
One look at the crowd at the expo in Los Angeles, and it's clear the economy is still in trouble.

Another woman in danger of losing her home, Kim, has tried to modify her loan for over a year -- ignored by her lender every time.  She says she sees no real signs of hope in the economy, with prices dropping and gas in California still hovering around $4 a gallon.

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ABC News Radio