Mortgage Forum

Joel Fraser

The line of eager people was wrapped around the Capitol Hilton in downtown Washington D.C. as my crew and I unloaded our gear out of our taxi. The crowd was thick and deep as a sea of yellow shirts offered smiles and encouragement to the children as they waited patiently with their mothers and fathers. Their curious faces filled with glimmers of hope as they stood in the hot and humid D.C. air. It was an utterly amazing, but an eerily sad site and I actually have chills as I write this. My words cannot even grasp the true magnitude of what my eyes just have seen and my heart has experienced. All of us were just in awe at the size of the crowd and the magnitude of this historic event. It hit us right away that this was big, very big. It reminded me of when hurricane Katrina forced thousands of people from their homes and the scenes played on TV as I watched helplessly from my home in Southern California. This time I was going to be involved and help the people in need. The people suffering in their homes that need help and real hope. Little did I know 4 days ago, I would catch a red eye flight to D.C. and be involved in the largest outreach to consumers and homeowners ever. Never in our history has there been a gathering of this size in one place for the simple goal of saving the American Dream. A place not far from where Dr. Martin Luther King Jr. gave his historic “I Have a Dream Speech (http://www.usconstitution.net/dream.html)” in 1963. This great man changed the course of our nation and the lives of millions America’s with just his words. The event was set up as an emergency triage room of sorts that was specifically designed to assist wounded homeowners with their toxic and cancerous mortgages. It was as if there were hundreds of nurses and foreclosure doctors that were working in concert with one another to help as many people as possible. Hundreds of volunteers, laptops and homeowners filled the Capitol Hilton with two goals in mind, to save homes and give hope. The Washington Post: (http://www.washingtonpost.com/wp-dyn...l)Here’s what makes this event unprecedented: If loan servicers refuse to work out a restructuring, NACA (http://www.naca.com/)is going to take the rejected homeowners to Capitol Hill (http://www.washingtonpost.com/ac2/re...tid=informline) and complain to their congressional representatives. “Our frustration has been that some of these servicers have not done what we need them to do,” Marks said. The facts are that servicers are not doing everything they can to assist struggling homework, people and Americans who are suffering in their homes because these same servicers have no skin in the game. These comapnies have no incentives to keep people in their homes. Only fee incentives to profit from struggling homeowners. Bruce Marks (https://www.naca.com/about_naca/staff/bruceMarks.jsp) knows this and so do I. This is why we have figured out that the time is NOW to start uniting consumer advocacy groups to form an army of sorts that shines a nationwide spot light on the truth. The truth that lenders, servicers and our government are NOT doing everything they can to help deserving Americans save their homes and dreams. *More Information on this Historic Event:* *· **Capital Hilton Hotel, 1001 16th Street N.W. Washington D.C.**· **July 19 (Saturday) - 23 (Wednesday) From 9:00 A.M. To 9:00 P.M. **· **Historic Event Providing Long-Term Affordable Solutions: One-On-One Sessions From Hundreds of Counselors Mortgage Restructuring Solutions the Same Day Homeowner Encounters with Members of Congress * NACA the Neighborhood Assistance Corporation of America is sponsoring the “Save the Dream” Event, July 19th -23rd at the Capital Hilton Hotel. NACA, a non-profit advocacy and HUD certified counseling agency, will continue NACA’s mortgage restructure solution by saving thousands of homeowners from foreclosure by reducing their mortgage rates to 5% and less, cutting the mortgage payments by hundreds to thousands of dollars a month. Never before will so many homeowners be matched with hundreds of counselors at once to achieve immediate solutions. NACA counselors will assist thousands of at-risk homeowners and provide restructure solutions that permanently reduce their interest rate to make payments affordable and obtain servicer/lender approval within hours of submission, often the same day. NACA has been successful in reducing interest rates to what homeowners can afford - often to 5% or less - setting the standard in the foreclosure prevention industry. NACA will provide permanent solutions and offer help, hope, counseling and long-term mortgage solutions – all free! *Media & Interviews: Moe Bedard (951) 271-6283* My company, Loan Safe Solutions, was invited by Bruce Marks and NACA to assist them with victims of predatory lending with our state of the art software and mortgage experts. As of yesterday, we interviewed over 100 homeowners and our preliminary findings are that over 85% of them are victims of predatory lending practices and that it is true, minority homeowners pay more for their mortgage and are DEFINITELY preyed on by real estate and mortgage predators. My goal is to show proof of this with hard facts and data to back it up. Never in my life have I heard such horror stories of fraud and deceit. Please stay blogged (tuned) for the follow up post after the march to Capitol Hill. From Moe's Blog (http:///2008/07/thous...merican-dream/)