Locals hope for mortgage relief

MIAMI (WSVN) -- The nation's largest homeownership group was in town, Thursday morning and many South Floridians gathered for a chance to reduce their monthly mortgage payment.

The banquet hall at the James L. Knight Center was packed, but it was no party. It was about helping families with unaffordable mortgages get the chance to reduce their payments and allow them to keep their homes. Many of them are working professionals with kids in school and bills to pay.

Rita Montano who is currently re-working her mortgage says, "We're here to save our house." She adds, "We also want to get the rates lower to 2 percent. That's what were expecting. It's 7.5 now...It's very high."

The Neighborhood Assistance Corporation of America is linking many of the big banks with homeowners in an effort to either avoid foreclosure or reduce hefty payments brought on by so called, bad mortgages.

Reps from NACA say an average $500 to $1,000 per month can be saved. People have come from across the state in hopes of receiving mortgage relief.

Stefany Delgado, who is currently a college student says, "We'll be that much closer to paying off our debt, having more money to save and be more financially independent."

Gary Eisler, who is also re-working his mortgage says, "I'm up in Palm Beach Gardens in a single family home, and I'm trying to keep the home."

Spokesperson for NACA Rick Herrera says, "So many people have tried to reach an agreement with their lender and have failed. So we have the major lenders and investors here that are decision makers. You can walk in, make sure you bring all your major documentation and you can walk out with the modification the same day."

Many inside the James L. Knight Center are said to be on time with their payments, but they are struggling to make them and so this is a chance to try reduce their interest rate and monthly note.

The event goes on until next Monday from 8 a.m. to 6 p.m. at the James L. Knight Center. For information on what to bring visit: https://www.naca.com/nacaWeb/index_main.aspx

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