Tens of thousands of homeowner across America have flocked to south Florida seeking help to save their homes. An event called Saving the Dream by Neighborhood Assistance Corporation of America an non-profit organization holding a five-day event to save delinquent homeowner from foreclosure.
12,000 people signed up to attend the event. NACA expects 20,000 people go through the Palm Beach County Convention Center in West Palm Beach. People from close as Georgia and as far away as Maryland and California seeking help bringing mortgage docs to see if they qualified for loan modifications.
“It’s either feed your kids or pay your mortgage,” says Omayra Delgado, a 33-year-old special education teacher whose Miami house has slumped in value from $160,000 (£103,000) to $60,000. “My home is in foreclosure. I’m trying to keep it.”
Banking companies including Citibank, Bank of America, Wells Fargo and along with Fannie Mae and Freddie Mac were there to help the trouble homeowners.
Bruce Marks, Naca’s chief executive, says this is the only way to dig the nation out of the housing morass: “What you hear from the Obama administration is ‘we’re helpless, our programmes aren’t working’. What you hear from Congress is ‘we don’t know what to do so we’re going to do nothing’.”
The Guardian has more.