Atlanta Mayor Kasim Reed calls the mortgage crisis shocking and he is doing something about it, by endorsing what he calls, “non-stop help.”
At a press conference this week, Reed said, ‘It’s a crisis that strikes at the heart of the middle class all throughout our city and those who make up the bedrock of our society are losing their homes in which they have invested their savings and built their lives and we need to do something to stop it.”
The City of Atlanta has given its approval to the nonprofit group, the Neighborhood Assistance Corporation of America (NACA) that will be at the George World Congress Center offering mortgage relief.
Last year, NACA attracted lines that wrapped around the Georgia World Congress Center. Thousands of homeowners facing foreclosure found help with NACA working out mortgage refinancing and repackaging of existing loans.
Because of its enormous popularity, this time, NACA is going “non-stop” from Friday morning to Tuesday evening (June 11-15). The doors of the World Congress Center won’t close. “That means for 100 straight hours. It’s actually a Save-a-Thon,” said Bruce Marks, President of Neighborhood Assistance. Regardless of when a homeowner shows up from Friday until Tuesday, Neighborhood Assistance experts will be there to help revamp loans and bring interest rates down.
“We are able to restructure mortgages, take the existing mortgages, reduce interest rates to as low as 2 percent and sometimes reduce the outstanding principal. People are saving $500 to $1,000 a month in a number of cases,” Marks said. “Everybody is eligible provided the home is owner-occupied, not an investor and they have an unaffordable mortgage. It doesn’t matter what the income is, what the mortgage amount is, and it doesn’t matter what the credit score is, “ Marks said.
All services offered are free to homeowners. For more information, log onto www. naca.com.