NACA Event Gives Homeowners Relief on Mortgage Payments & Foreclosings

NACA Event Gives Homeowners Relief on Mortgage Payments & Foreclosings

Homeowners have a chance to lower their mortgage payments through a five day event.

MEMPHIS, TN (localmemphis.com) - Homeowners have a chance to lower their mortgage payments through a five day event.

"Memphians are still struggling. They’re still struggling. Over 1000 registered for foreclosure in just the city of Memphis alone. That's alarming," said NACA Spokesperson Rick Herrera.

Homeowners who face foreclosure or struggle with mortgage payments can receive free services through Monday. It's all a part of the American Dream event hosted by the "Neighborhood Assistance Corporation of America." Opportunities include: counseling, speaking with lenders, and having a representative as an advocate to determine a new affordable mortgage payment. It's an event that brought relief to this East Memphis homeowner.

"Last year I came and I got a great big help last year and I also got it done with 2 percent and I'm coming back today to see can we do better on that 2 percent," said Leroy Jones.

After living from paycheck to paycheck, Jones is now able to afford his mortgage payments. With a 2 percent interest rate, he is now saving around $300 a month.

Homeowners are asked to bring their pay stub from the last 30 days. If you're self employed, the last 6 months of your bank statements and the last 2 years of income taxes will be needed.

"I plead with the homeowners who lost hope because I know there's a lot of them they have lost hope. Dealing with a bank on their own wasn't getting them anywhere. This is the place to come. We will advocate for you to stay in your home and have a new monthly payment," said Herrera.

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