Local event helps homeowners finance mortgages
MIAMI, Fla. (WSVN) -- The banquet hall is packed, but it's no party. It's about helping families with unaffordable mortgages get the chance to reduce their monthly payment.
The Neighborhood Assistance Corporation of America (NACA) 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. Representatives from NACA said an average $500 to $1,000 per month can be saved.
People have come from across the state, and here are some prime examples:
Rita Montano: "We're here to save our house. We also want to get the rates to two percent. [The rate right now is] 7.5 [percent]. It's very high."
Stephany Delgado: "We'll be able to pay off our debt sooner, having more money to save and being much more financially independent.
Gary Eisler: [I'm] up in Palm Beach Gardens, single family home, and I'm trying to keep the home.
Rick Herrera, NACA: "So many people have tried to reach an agreeing with their lender and failed, so we have the major lenders and investors here that are decision makers. You walk in -- make sure you bring all the right information -- and you can walk out with the right modification the same day."
Many inside the James L Knight Center are said to be on time with their payments, but 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. To sign up and for information on what to bring, click here: www.naca.com .
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