The most effective and unprecedented foreclosure prevention event is arriving in Chicago. On Thursday, May 13th through Monday May 17th, 2010 at McCormick Place in Chicago NACA and the nation’s major lenders will restructure unaffordable mortgages for homeowners. NACA’s Save the Dream events are incredible with thousands of people having their mortgage payment permanently reduced by over $500 and many by over a $1,000 a month often with interest rates reduced by 3% or 2% and sometimes a principal reduction. Many receive a permanent restructure the same day. We expect more than 20,000 homeowners during this five day event that begins May 13th through May 17th.
There will be hundreds of NACA counselors to determine an affordable mortgage payment for the borrower, and hundreds of staff from all the major lenders to process and approve these solutions. NACA has legally binding contracts with all of the major lender/servicers, including Fannie Mae and Freddie Mac to make mortgages affordable. And all NACA services are FREE.
“NACA has shown that a permanent modification for tens of thousands of borrowers is possible when you provide lenders with the proper tools and require them to make mortgages affordable,” said NACA CEO Bruce Marks. Marks has testified in congress about the effectiveness of the Save the Dream Tour and recommended ways for Congress to require lenders to restructure mortgages on a large scale. NACA’s Save the Dream Tour has been one shining light in the mortgage crisis.
To help homeowners through the process NACA is holding a series of workshops in the Chicagoland area. Attending a workshop could cut wait times for homeowners at the event. Attending the preliminary workshops are mandatory prior to the main event at the following locations to better prepare and educate the community on this historic event.
NACA’s Save the Dream event runs for 24 hours beginning Thursday at 9 am and ending Monday at midnight. The program is open to owner/occupants and non-investors. Sign up at www.naca.com or call 888-499-6222 and register to attend the workshop below.
Monday, May 10, 20106:30 PM - 8:30 PM English and Spanish
The Hemmens Cultural Center Auditorium45 Symphony Way
Elgin, IL 60120
Download a flyer in English
Download a flyer in Spanish