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Mortgage help offered in Phoenix to those facing foreclosure

Reported by: Dave Biscobing
Email: dbiscobing@abc15.com
Last Update: 10/04 8:35 pm
Mortgage help offered in Phoenix to those facing foreclosure
People were lined up outside the Phoenix Convention early Friday morning
Slideshow
People were lined up outside the Phoenix Convention early Friday morning
PHOENIX -- Thousands of people lined up again at the Phoenix Convention Center Saturday to get help saving their homes from foreclosure.

The event was hosted by the Neighborhood Assistance Corporation of America, or NACA.

On Friday, a hopeful Tyrone Carter didn't know if he had any options left.
 
"I had fallen behind a couple of months," Carter said.

Faced with a swelling mortgage, the down economy and kids in college, the 40-year-old was just a month away from losing his home.

"I was under a lot of pressure, a lot of stress," he said.

Carter's not alone.

He was one of thousands who waited patiently in line Friday.

"Over the next four days, we'll see 40,000 to 50,000 people," said NACA CEO Bob Marks.

Arizona is fourth worst in the nation for foreclosures.

And earlier Friday, dozens of people camped outside the convention center, ready for help from crippling mortgage payments and dead ends.

"We paid out hundreds of billions to these executives," Marks said.  "And what are they doing, they are spitting in our face."

NACA tours across the country.

And at each stop, they take troubled homeowners and get them help -- fast -- by putting them in the same room with dozens of lenders.

"Today I beat foreclosure," said Peoria resident Buddy Birmingham. "It's just the greatest thing to happen."

Birmingham saved $800 on monthly payments. More than that, he saved his house.
"It's my dream home," he said. "And now, I get to keep it."

As for Tyrone Carter, he's smiling because he's now saving hundreds a month and cut his interest rate from 8 percent to 3.7 percent.

But he says it's not just the financial relief. It's the relief of having piece of mind.
 
"I'm so overwhelmed with joy and happiness, I don't even know what to say," he said.

The tour will be in Phoenix through Monday.

What you need to bring with you

  • A recent pay stub
  • A mortgage statment
  • A property tax bill
  • A home insurance bill
Copyright 2009 The E.W. Scripps Co. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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