Non-profit to help at-risk homeowners find relief - NBC12 - WWBT - Richmond, VA News On Your Side

Non-profit to help at-risk homeowners find relief

RICHMOND, VA (WWBT) - If you're at risk for losing your home because of foreclosure or unaffordable mortgage payments - help is on the way. The Neighborhood Assistance Corporation of America- or NACA- helps homeowners negotiate with their banks face to face, and they're coming to Richmond this weekend.

The event is completely free for at risk homeowners and organizers say coming here, could help you save your home. It worked for Catherine Burell. She always pictured herself in the perfect house-- and finally found it.

"The American Dream is that you want to have your own house and your own...whatever," said Burell.  

But, when the economy took a dive, so did her hours at work. Almost immediately, she couldn't afford her new house.  

"I just felt like I was stuck. I needed more money. I couldn't get another job. You know, I was trying to find a job but I couldn't," said Burell. "I just felt like there wasn't a way out for me. "

At one point, things looked so bleak, Burrell sat her son down and told him they could lose their house. But then a co-worker told her where they could go for help.

The friend recommended calling NACA and Burell says, she really didn't have any other options: "I'm listening and I'm thinking…If this is so, yeah this would be a big relief for me."

"She was able to come down, stop the foreclosure, and get the interest rate reduced as well," explained William Lee, a NACA worker.

"It reduced my mortgage, the principal, the actual payment and it caught the payments up that I was behind so it put me back," said Burell.

NACA representatives say they can usually reduce the homeowner's payments to make them affordable and the goal is to make sure you keep your home.

"The mortgage crisis in America is affecting everyone and so what this program does is help those people who have experienced any kind of hardship, whether you have lost a job, lost a loved one, you may have had increased medical expenses," said Lee.

The event kicks off Friday and you will want to bring a few documents to help you out.

* Your most recent 30 days income

*Property taxes

* Home Owner's Insurance

*Most recent mortgage statement

* Tax Return (signed and dated)

* Photo ID

** If you're self employed, bring 6 months of bank statements

** If you have Home Owners Association Dues, bring that information

The process is three steps. First, a NACA representative will walk you through orientation. Then, you will sit down with a counselor to go over your budget and expenses. Finally, a NACA representative will help you talk to your bank representative face to face to get relief.

The NACA event will be at the Richmond Convention Center, December 2nd through the 6th.

It will be from 8 a.m. to 8 p.m. all five days-- and is free and open to anyone. You don't have to be in foreclosure or behind on payments.

If you're experiencing a hardship, you may qualify.

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