Thousands flocked to loan modification fair

By Tara Cardoso - bio | email

WEST PALM BEACH, FL (WFLX) - People poured into the Palm Beach County Convention Center hoping to get help to get their mortgage payments reduced until late Monday night.

But not everyone who came on the last day got to see someone face-to-face. "I wanted to get in on the bandwagon and do what everyone else is doing, and get my interest reduced," said Marcia Ehrenberg. She isn't behind on her payments on her Greenacres home, but she could use a little help.

Ehrenberg says she got none despite heading out to the last day of 24 hour home save-a-thon at the Palm Beach County Convention Center. She says she got there at 7:30 am and waited through the workshop, Then was told it was too late. "The floor is closed. You will not see a counselor. It was 2 in the afternoon."

NACA says there were just too many people to keep going and still finish counseling by midnight Monday. They say, however, everyone who showed up will get answers. "We will follow up with everyone on the phone or face-to-face," said a spokesperson with NACA. "It might not be as fast, but it will get done."

The home loan modification process doesn't come easily. Just ask this woman who late Monday night got her interest rate reduced to two percent fixed. "I've been here since yesterday [Sunday] at 8 O'clock." She hasn't slept in two days.

NACA gets through to the banks by what is called 'nonviolent bank terrorism'.

When hundreds of NACA volunteers show up at bank CEO's homes. "Yes, in their gated communities. Their enclaves on Sunday mornings because it is family day."

If you missed the event or showed up Monday and couldn't get in, you can still reach NACA online or over the phone. The CEO told us banks are not allowed to foreclose on anyone who is working with NACA to modify their loan.

NACA says there was such a huge response, they will be coming back to South Florida.