House GOP Unveils Bills To Speed Closure of Fannie, Freddie

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NACA L.A. Loan Modification Save the Dream Event: How to Avoid Waiting in Long Lines

Pasadena CA Home

How do you go to the front of the line at the upcoming Save the Dream Event in Los Angeles June 25 to 29th at the L.A. Sports Arena?    Volunteer.

NACA is a non-profit HUD Certified organization which represents itself to be the largest and most powerful and effective advocate for homeowners in the country.   NACA holds large loan modification events called Save the Dream.

NACA has contracts with most major lenders including Bank of America, Chase, (includes EMC and Washington Mutual), Citigroup, Wells Fargo, GMAC, HSBC, and Indy Mac/OneWest, all of which participate in NACA’s Save the Dream events which they take on the road and travel with them from city to city.

NACA relies on hundreds of volunteers at each event to run each Save the Dream Event multi-day loan modification fest.  You put in 8 hours volunteer time and you get “VIP” status to speak to a NACA Counselor.  To participate you must attend a Volunteer Meeting this Friday at 6:00 pm at the L.A. Sports Arena.

Here’s a memo from NACA’s Volunteer Coordinator, Linda Moten:

NACA

Neighborhood Assistance Corporation of America 

Save the Dream Event is coming back to 

Los Angeles, California

 VOLUNTEER MEETING!!

Date: Friday, June 24, 2011

Time: 6:00 p.m.

 LA Sports Arena 3939 S. Figueroa St Los Angeles Ca 90037

To receive the VIP STATUS

THERE WILL BE ONE VOLUNTEER MEETING the night before the Event

In addition, New Purchases Member will receive their confirmation Volunteer Participation Letter

All Volunteers who participate during this event will receive VIP with a

Designated Counselor seating area

At the

Save the Dream Event

Los Angeles Sport Arena

I hope to see you soon!

Linda Moten

Thank you in advance! 

BRING THIS LETTER WHEN YOU COME; THIS IS YOUR BUILDING PASS !!

End of memo

6-27-11:  News Update from NACA:  No lines at the L.A. Sports Arena event!  Bring your documents and attend NACA’s Save the Dream Event 

Go to the Front of the Line for VIP Counseling by Volunteering at NACA’s Milwaukee Save the Dream Loan Modification event – NACA Milwaukee Volunteer Meeting is August 4, 2011 at 6pm at the Frontier Airlines Center, 4th Street & Wisconsin Avenue.

For further information on volunteering at a Save the Dream event, contact Ruth Saldana at rsaldana@naca.com   Go to NACA.com for Save the Dream Schedule.

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NACA Loan Modifications: It Takes Not a Village, but a Whole Country to Keep the Dream Alive

Bank of America Center, San Francisco

In 2008, shortly after the financial crisis hit, I offered my legal services to distressed homeowners to negotiate loan modifications.

I felt I could provide my clients great services in this area due to my negotiating and writing skills developed from years of settling litigated disputes and writing persuasive motions and appellate briefs.

I learned very quickly, however, that the “loan modification process” was a farce.   The banks’ advertisements about their purported desire to help borrowers were patently false, mere propaganda fed to the American Public at cost of most likely millions of dollars in advertising dollars.

The collapse of Wall Street and the U.S. & World economies didn’t seem to daunt the financial industry’s  greed or audacity one bit.  (See e.g Aritcle re: bank executives multi-million dollar bonuses after bail out)

My experience with “negotiating” loan modifications for my clients was very much like what Congresswoman Maxine Waters’ experienced. (See video of Maxine Waters:  Behind the Bank’s Verbiage on Loan Modification

After our U.S. Congress rushed to the banks’ rescue with multi-billion dollar bail outs, it eventually passed some legislation purporting to help American Homeowners.   As we have seen since then, however, these programs have been deemed failures.   See:  Hope For Homeowners Offer Limited Hope;   See article why Home Affordable Modification Program [HAMP] is a failure.

The program titles were mere puffery; the substance of these governmental programs lacked any “teeth”.   But why does that surprise anyone since our own U.S. Congress members admit the banks are running the U.S. Congress.

So who can help Americans? Or rather how can American help themselves?

One organization which seems to be able to buck the power of the banks and help homeowners get reasonable loan modifications is the Neighborhood Assistance Corporation of America (NACA).

NACA is a non-profit HUD Certified organization which represents itself to be the largest and most powerful and effective advocate for homeowners in the country.

What makes NACA succeed where our Legislature has failed?   First, its probably due to NACA’s CEO Bruce Marks’ passion and commitment to fight abuse by the financial industry.  Second, NACA relies upon public support and active participation which it claims is critical to its success.

For example in 2009  NACA and over 350 homeowners protested at some of the lenders’ CEOs’ estate homes demanding the banks take responsibility for the financial carnage they created.  Also, Bruce Marks and homeowners frequently protest against banks at congressional hearings (see video protesting during testimony by Chase Bank).

These controversial tactics and publicity, however, have worked.  NACA has contracts with major lenders and servicers who are participating in NACA’s Save the Dream Tour and  giving loan modifications.  Participating Lenders include Bank of America, Chase (includes EMC and Washington Mutual), Citigroup, Wells Fargo, GMAC, HSBC, and Indy Mac/OneWest,.

Now, however, the Banks want to take Mr. Marks and NACA down, and apparently, their pressure on the government is working because HUD’s Secretary Shaun Donovan  is proposing the defunding of NACA which would put an end to what appears to be the most effective loan modification assistance for Americans.

What can you do?   Speak out and defend NACA.  Call and e-mail HUD Secretary Shaun Donovan and Treasury Secretary Timothy Geithnerand.

NACA suggest some good questions to ask are:

Why is HUD trying to destroy NACA, the most successful program to prevent foreclosures?

Why won’t it meet with NACA over this issue?

Why do you propose to defund NACA when the government’s own programs purporting to “help” American homeowners have been failures?

Instead of destroying NACA why don’t the government programs learn from NACA’s success?

HUD Secretary  Shaun Donovan  can be contacted via e-mail  Shaun.1.donovan@hud.gov  or phone: (202) 708-1979

Treasury Secretary Timothy Geithner can be contacted by  e-mail:  Timothy.Geithner@do.treas.gov  or phone number (202) 622.1100.

Call or e-mail your Congressperson and Senator as well.

To join NACA’s Defense Committee contact NACA at email:  Defenders@NACA.com or call its Campaign Coordinator, Daniel Perez at (617) 250.6222 ext. 1218.

Per NACA:  “Your Support is Crucial – Defend NACA”

To volunteer at NACA’s Milwaukee Save The Dream Event attend the August 4th Volunteer Meeting at Frontier Airlines Center at , at 4th Street & Wisconsin Avenue

“I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around the banks will deprive the people of all property – until their children wake-up homeless on the continent their fathers conquered.”

Thomas Jefferson, 1802

For further information on volunteering at a Save the Dream Event, contact Ruth Saldana at rsaldana@naca.com.   Go to NACA.com for schedule of Save the Dream Tour.

Loan Modifications – NACA’s Save the Dream Tour – Who Qualifies – What to Bring

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Some Advice to California Legislature on Balancing the Budget

We the People of California Balance our priorities, balance the scales of justice Dear ACLU Friend, Forty years ago last week, Richard Nixon declared war — on drugs. This war has had no effect on the supply or demand for drugs. But it has made the United States the world leader in incarceration, and tipped California’s spending priorities toward prisons and away from public universities. Last month, the United States Supreme Court ruled that extreme overcrowding has brought California prisons to a “breaking point,” characterized by “needless suffering and death.” The Court has spoken, declaring that California must reduce its prison population by approximately 33,000 people over two years. Now it’s your turn to speak. The ACLU of California is launching a petition campaign to focus our political leaders’ attention on the need for sentencing reform. Please sign and share the petition with your friends. Nearly 8,500 people are currently locked up with felony sentences in California for non-violent low level offenses – like possessing a small amount of drugs for personal use – at a cost to taxpayers of over $442 million per year. We can save money and keep our communities safe by reserving felony sentences for serious crimes. Thank you for joining the ACLU in calling on the Governor and our legislators to cut wasteful spending in the prison system. Thanks for all that you do, Clarissa Woo Director of Policy Advocacy

The ACLU was founded to defend and secure the rights granted

NACA: An Effective Advocate for American Homeowners: Loan Modification Assistance

The Neighborhood Assistance Corporation of American (“NACA”)  is a non-profit HUD Certified organization which claims to be effective in obtaining loan modifications for American homeowners.  NACA has contracts with most major lenders including Bank of America, Chase (includes EMC and Washington Mutual), Citigroup, Wells Fargo, GMAC, HSBC, and Indy Mac/OneWest who participate in NACA’s multi-day loan modification events called Save the Dream which they take on the road and travel with them from city to city.  See NACA.com for Save the Dream Event schedule.

Related articles

• Few helped by mortgage modification program (cbsnews.com)

Loan Modifications Happening – NACA’s San Diego Save The Dream Event

Pasadena, CA Historic Highlands Neighborhood

A Four-Day Loan Modification Fest is being held by the Neighborhood Assistance Corporation of America (NACA).

NACA is a non-profit HUD Certified organization which represents itself to be the largest and most powerful and effective advocate for homeowners in the country.

One of NACA’s programs is a loan modification program called “HomeSave Program”.  According to Mr. Bruce Marks, the founder and CEO of NACA,  it’s HomeSave Program success rate is 55% to 80%.

NACA just finished its  5-day loan modification fest called Save-The-Dream Event in Los Angeles this past Monday, June 6, 2011.    Many modifications were announced during the event.  These modifications were obtained after much work and perseverance by the homeowners, and with the invaluable counselling and guidance of NACA.

NACA will now host a 4-day Save-The-Dream event in San Diego from June 10 to June 13 at the San Diego Convention Center from 8 am to 8 pm.  Most major lenders servicers will be there including Bank of America, Chase, CitiMortgage and more.  NACA has convinced these lenders to come to the table and negotiate.

San Diego Convention Center, 111 W. Harbor Dr. San Diego, CA 92101

For more information see  NACA’s LA Save the Dream Event .

For further information on volunteering at a Save the Dream Event, contact Ruth Saldana at rsaldana@naca.com.   Go to NACA.com for schedule of Save the Dream Tour schedule.

Loan Modifications – NACA’s Save the Dream Tour – Who Qualifies – What to Bring

If you attend, please let us know your results!

NACA Milwaukee Save the Dream Event August 5-9th

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Loan Modifications – NACA’s Save the Dream Tour – Who Qualifies – What to Bring

Altadena, CA Home, Janes Village Neighborhood

Successful loan modification stories are too few and far between.   If you are a distressed homeowner, however, you will most likely want to look into all possible options, notwithstanding the numerous horror stories.

The Neighborhood Assistance Corporation of America (NACA) offers one of those options.  NACA is a non-profit HUD Certified organization which represents itself to be the largest and most powerful and effective advocate for homeowners in the country.  One of NACA’s programs is a loan modification program called “HomeSave Program” which is a part of NACA’s large multi-day loan modification tour called “Save the Dream.”

According to Mr. Bruce Marks, the founder and CEO of NACA,  HomeSave Program’s success rate is 55% to 80%.

NACA’s Home Save the Dream events are attended by all the major servicers, lenders and investors such as Bank of America, CitiMortgage, Wells Fargo, and Chase.   These lenders and servicers travel to each NACA Save the Dream event to participate in the multi-day loan modification event .

At the Save the Dream events  homeowners receive impressive  comprehensive counseling and support all free of charge.  There is no minimum or maximum income requirement.   Homeowners receive information on how to fill out forms, draft  budgets, and document their income and expenses.

Home owners then hold a telephonic counseling session with a NACA HomeSave Counselor who reviews the homeowner’s income, expenses, credit report and other documents to determine an “affordable mortgage payment” for the homeowner.   The counseling helps the homeowner put together a well documented file to support the requested modified monthly mortgage payment.

Once the counselor helps the homeowner determine a workable solution and the homeowners’ supporting documents are reviewed, the homeowner then meets with the Loan Servicer across the hall to negotiate a mortgage modification.

Who Qualifies for NACA’s HomeSafe Services?   Anyone who  has an unaffordable mortgage, owns and lives in their own home, and does not own another property.

What Documents Should You bring to a  NACA Save the Dream event?

1.  Verification of Income –

• If employed:  pay stubs for past 30 days,
• If Unemployed:  documentation on source(s) of financial support
• If self-employed:  6 months bank statements
• Documentation on any other source of funds, such as child support or rental income.

2.   Two most recent income tax returns

3.  Mortgage Statements  (1st mortgage and any other mortgages on property)

4.  Property Tax Statement reflecting annual tax amount

5.  Property Insurance Statement reflecting amount of premium

6.  Time, patience, and gratitude.

A calculator is also a helpful item to bring.  You will need to know your monthly debts and expenses (i.e. monthly food, car payment(s), electrical costs, etc) so it will be extremely helpful if you prepare a draft of your monthly expenses ahead of time and bring this information with you.  Some people pack snacks and lunch.  Some people volunteer and go to the front of the line.

Go to NACA.com for more information and for the schedule of their Save the Dream tour.  If you attend, please let us know your results!

See 60 Minute story on NACA’s Save-The-Dream Event.

If you want to know how to go to the front of the line, see NACA L.A. Loan Modification Save the Dream Event:  How to Avoid Waiting in Long Lines

For further information on volunteering at a Save the Dream Event, contact Ruth Saldana at rsaldana@naca.com.   Go to NACA.com for schedule of Save the Dream Tour schedule.

Free 411 Directory Information On Cell Phone

Cell phone companies charge $1.00 or more for information calls. Here’s a number you can call on your cell for free directory information:
(800) FREE411 or (800) 373-3411

April 11 to June 30th: Buyers Get 3.5% of their Costs Paid When Purchasing a Qualified Fannie Mae Owned Property

Pasadena Home, Historic Highlands Neighborhood

Fannie Mae is offering Buyers of  Fannie Mae bank-owned (REO) properties up to 3.5% in closing cost assistance beginning April 11 through June 30, 2011.

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HomePath is a special program designed to sell Fannie Mae owned homes.   Some of the incentives are:  low down payment as low as 3.5% and no mortgage insurance requirement. FICO scores as low as 660 are acceptable.   Homepath also has a program that loans up to $35,000 or 35% of purchase price to do renovations.

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Homepath gives owner-occupants preference by giving them a 15 day First-Look period that allow buyers to purchase without competition from investors.

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Some of the requirements for Buyers to Receive 3.5% Closing Costs are:

Offers must be submitted on or after April 11, 2011.
Buyers must intend to live in the home as their primary residence
Escrow must close on or before June 30, 2011.

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For more information contact Mary K. Lenahan:

Mary K. Lenahan, JD, Realtor
Beautiful-California-Homes-For-Sale.com
626) 798.9050 / Cell*Text: 626.226.6056
MKLenahan@yahoo.com
Dilbeck Real Estate Real Living
Short Sales – Probate – Buyer Transactions

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Keep Your Home California Program Now Offers Mortgage Aid to Those Who Took Equity Out

Historic Highlands Home, Pasadena CA

San Francisco Chronicle

The California Housing Finance Agency announced this week that people who cashed out equity on their home are now eligible for three of the four “Keep Your Home California” programs.

Keep Your Home California is a state-run program funded with $2 billion from the U.S. Treasury’s Hardest Hit Fund.  It is designed to help low-and moderate-income people who are unemployed or owe more than their home is worth pay their mortgage.  (Los Angeles County earning limit is $75,600)

There are four individual programs that fall under Keep Your Home California.  Eligible homeowners can get up to $50,000 in assistance from one or more of the four programs combined.

Under the new rules, people who took equity out of their homes will be eligible for the unemployment mortgage assistance, mortgage reinstatement assistance, and transition assistance programs if they meet all the other program requirements.

Homeowners who cashed out equity will continue to be ineligible for the principal reduction program.

When the program first started, homeowners who had tapped the equity in their homes were ineligible for the programs.  CalHFA decided to include these homeowners due to the large number of homeowners who were being turned away for
assistance.

Under the program revisions, homeowners who originated mortgages after Jan. 1, 2009 also are eligible for the same three programs.  Originally, these borrowers were excluded because they also are excluded under the federal Home Affordable Modification Program, so CalHFA wanted to be consistent with HAMP.

To qualify for any of the four programs, homeowners must fall below certain income limits, must be living in the home, and cannot own a second home, among other criteria.

For additional requirements,visit www.keepyourhomecalifornia.org/eligibility.htm

Read Full Story

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Mary K. Lenahan, JD, Realtor
Beautiful-California-Homes-For-Sale.com
626) 798.9050 / Cell-Text: 626.226.6056
MKLenahan@yahoo.com
Dilbeck Real Estate Real Living
Short Sales – Probate & Trust Real Estate Transactions

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