Today is the last day for the Neighborhood Assistance Corporation of America homeowner event in Tucson, AZ, aimed at helping homeowners avoid foreclosure.
Here is more information about the event from the Arizona Daily Star:
Mortgage relief goal of 5-day Tucson event
‘Homeowners who’ve lost hope’ to get help avoiding foreclosure
An event designed for “homeowners who have lost hope” will be in Tucson for five days beginning Friday.
The Neighborhood Assistance Corporation of America (NACA) is sponsoring the free event where homeowners and an appointed advocate can meet with lenders to negotiate lower mortgage payments.
“A large percentage of homeowners have already tried to lower their mortgages,” said Rick Herrera, a spokesman for the nonprofit group, which has held more than 90 events around the county.
The upcoming event is the first one in Tucson. “If you’ve lost hope, this is the opportunity to let NACA advocate for you,” Herrera said.
Since Jan. 1, more than 7,500 foreclosure proceedings have been filed in Pima County.
Herrera said 55 percent of homeowners walk out of NACA events with a same-day solution. The resolution percentage climbs to 80 percent within 30 to 45 days for those who did not bring all the requested paperwork to the expos.
“We make it a five-day event so if something is forgotten, they can come back,” he said.
During the expo, homeowners will receive an orientation, then have a counseling session with a NACA advocate who will review their income and expenses and suggest a new mortgage payment.
The advocate and homeowner will then meet with the lender.
The typical homeowner who has gone through the program has been able to reduce mortgage payments by between $500 and $1,000 a month, Herrera said.
Bank of America, Chase, Wells Fargo and GMAC are among the lenders scheduled to participate, he said. Representatives from Freddie Mac and Fannie Mae will also be on hand.
IF YOU GO
• What: NACA American Dream Event
• When: Friday through Tuesday from 8 a.m. to 6 p.m. each day.
• Where: Tucson Expo Center, 3750 E. Irvington Road.
• Cost: Free.
• Register: Online at naca.com or by calling 1-888-499-6222. Walk-ins also welcome.
What to bring
• Property tax bill.
• Last mortgage statement.
• Insurance declaration page.
• Proof of income: Last 30 days of paycheck stubs and last three months of bank statements.
• If self-employed, the last six months of bank statements.
• 2010 and 2011 tax returns.
• A utility bill.
• If anyone helps you financially, bring proof of that.