One Day Loan Modification??!!!!

Whew, we knew it was a difficult process but now it's a special event??!! Just today I learned about a one day foreclosure prevention event being held in various parts of the country.

Homeowners who have been unsuccessful in modifying their loans are showing up en masse (50,000 are expected!) to gain face time with bank representatives who are said to speed up the review process so borrowers will know by the end of day if it's a yes or a no.

In a nutshell, here's the process.

• Group orientation of 500 individual homeowners.
• One-on-one meetings with individual counselors.
• Homeowner's documentation is scanned and an affordable payment is determined.
• File is submitted to their servicer who is on site.
• Homeowner meets with their servicer who will give them their solution, same day!

CEO Bruce Marks of Neighborhood Assistance Corp. of America (NACA) claims 80% of attendess are leaving with modified loans. Click here for the complete article.

An upcoming event in California could be a lifeline for distressed Bay Area homeowners. The next event is scheduled for Oct. 16-20, setting up shop at the Craneway Pavilion in Richmond. Visit https://www.naca.com/ for other cities and dates.

Let's hope this is a solution for many folks who've encountered nothing but roadblocks so far.