Thousands Stand in Line for Loan Modification Help

Thousands are trusting that the Neighborhood Assistance Corporation of America (NACA), a Boston-based non-profit, community advocacy and home ownership organization, will be instrumental in helping them save their homes, as they stood in line at the Palm Beach County Convention Center on Friday.

Thousands stand on line at the Palm Beach County Convention Center (Photo credit: Lannis Waters/Palm Beach Post) The non-profit group opened the doors at 9 a.m. to begin a five-day marathon of around-the-clock loan modifications. The event, which is free, aims to get homeowners cheaper monthly mortgage payments through interest rate reductions, extending the life of the loan and a reduction in loan amount.

The last NACA event at the convention center drew tens of thousands of people, and counselors worked on more than 24,000 loans. Those who want help should bring tax statements, proof of income and mortgage documents to assist in the process.

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