Find mortgage help from Neighborhood Assistance Corporation of America.
Thousands of homeowners across the country have received assistance from the Neighborhood Assistance Corp. of America (NACA) and their Home Save Program. The organization was founded in 1988, and their primary goal is to build and sustain healthy neighborhoods nationwide through affordable homeownership, providing those who are struggling help with their mortgage, and also assistance if they are on the verge of a home foreclosure. The non-profit works with lenders, banks, and local governments among other to meet their goals. The group has over 40 offices around the country.
A major goal is to increase homeownership levels. But in addition, they offer a wide variety of assistance to those who are at risk of foreclosure, as this can keep a family housed They offer a program that will allow those homeowners the chance to restructure their mortgages in as little as a day to keep their homes. It is possible due to relationships with Fannie Mae, Freddie Mac, and hundreds of banks as well as other lenders.
Not only does the Neighborhood Assistance Corp. of America operate from their 40 offices, but they also go around the country visiting dozens of cities in a tour known as Save the Dream. This can bring their assistance to a town near you as part of Save the Dream from NACA.
NACA provided counseling and assistance to tens of thousands of homeowners, and they have also seen as many as 25,000 homeowners show up at their previous Save the Dream mega event tours in Washington, D.C., South Carolina, and Connecticut. All of the services offered by NACA are free to homeowners.
Assistance from NACA Home Save
The Neighborhood Assistance Corporation of America has previously negotiated agreements and contracts with banks, lenders and mortgage servicing companies. This allows NACA the ability to implement same-day solutions for homeowners that will permanently reduce the interest rates they need to pay from 2 to 5 percent. They also can offer other solutions as a form of foreclosure assistance.
Additional support includes - For instance, where necessary, they can also help arrange a reduction in the outstanding principal that is due on a mortgage loan. They can also advise a homeowner on staying in their home (so not moving out during the foreclosure), even after a closing occurs, can help save your home by forcing a lender’s hand. Find how to delay a foreclosure.
Neighborhood Assistance Corporation of America also assists borrowers with Adjustable Rate Mortgages (ARMs). Some of these homeowners need assistance is ensuring the rate increase is not too high (in which they can’t afford the mortgage) or maybe they need help in refinancing to a fixed rate product. NACA specialists assist with those needs as well.
Lenders, banks, and mortgage service companies have staff at NACA offices around the country. The on site staff allow the group to provide rapid mortgage and foreclosure assistance, as they can electronically review proposed changes and the staff can approve a restructured mortgage loan in as little as an hour or two. They also can modify a loan.
In addition, NACA will always continue to work with all homeowners, including people who don't get a speedy resolution and that will take more time and effort. So even if the applicant to Home Save needs more time, NACA can provide mortgage counseling.
If you want to save your home from foreclosure, you need to consider contacting NACA and applying to Home Save as an option. All families and individuals who own and occupy their primary homes and who have an unaffordable mortgage are welcome to ask for help. They will try their best to support everyone regardless of whether they have a job or are in foreclosure. Yes, even those who have lost their job may be able to get foreclosure assistance from a local office. For example, people who are currently unemployed could be eligible for a temporary plan to provide short term relief until they able to return to work. NACA's says their success rate is at 80 percent in helping homeowners.