It was quite a riveting sight recently at Cal Expo in Sacramento, the latest stop for the "Save The Dream" tour put on by NACA -- Neighborhood Assistance Corporation of America. Thousands of struggling homeowners waited in line overnight in hopes of holding on to the American dream, by making their monthly payments more affordable.
"If I get the loan re-modification today, it will give me the security, knowing that me, my husband, and my five kids will have a home," said Shari Lewis, who bought her Elk Grove, Calif., home in 2001, only to find herself drowning in debt nine years later. But on this day, her luck changed.
After meeting with lenders, Shari was able to significantly lower her mortgage payments, and keep her five-bedroom suburban home.
She credits NACA, a federally-funded nonprofit that's been holding huge marathon events to help homeowners facing foreclosure.
"People are able to come here, and in the same day, restructure their mortgages saving $500, sometimes over $1,000 a month," says NACA's charismatic leader, Bruce Marks.
We saw another homeowner, Althena Peet, actually embrace her lending counselor, tears streaming down her face. "My monthly payments were $1,888 per month, and its down now to $687.64. That's with 2 percent interest. I just can't believe it," Peet exclaimed. - FOX News Story
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