SACRAMENTO, CA - Thousands of homeowners have spent days at Cal Expo waiting for free home loan modification help.
Sacramento is the last stop of the Neighborhood Assistance Corporation of America's Save the Dream Tour, which offers free solutions for homeowner with unaffordable mortgages. NACA is a non-profit organization, and its Cal Expo event has been running 24 hours a day since Friday Oct. 8 and has served more than 25,000 people.
One in 10 Californians is behind on their mortgage payments and headed to foreclosure. The lines at Cal Expo are proof. Eric who drove to the NACA event from Long Beach is behind on his home payments. "I bought my condo for $105,000, right now I owe $172,000," he said.
Keeza from Stockton owes $273,000 on her home, which she says is now worth around $80,000. Her husband has been in and out of work and she doesn't make enough to cover the mortgage on her own. "I've gone through three times with Bank of America trying to do it on our own, so this is our last hope," Keeza said.
NACA's Save the Dream event runs through 8 p.m., Tuesday, Oct. 12.
The Associated Press