NACA event held to help Memphis homeowners prevent foreclosure - WALB.com, South Georgia News, Weather, Sports

5-day event helps Memphians prevent foreclosure

NACA, the Neighborhood Assistance Corporation of America, is holding a five-day homeownership and foreclosure prevention event beginning Thursday. NACA, the Neighborhood Assistance Corporation of America, is holding a five-day homeownership and foreclosure prevention event beginning Thursday.

(WMC-TV) – The Bluff City is considered by some the "foreclosure capitol of America." Memphis leaders are holding a critical event in an effort to provide hope to struggling homeowners.

NACA, the Neighborhood Assistance Corporation of America, is holding a five-day homeownership and foreclosure prevention event beginning Thursday.

Dorothelia Fletcher built years of memories in her home in southeast Memphis.

"My husband had just passed," she said. "We were married 44 years and we'd been here 21."

Without her husband, Fletcher could not afford the home.

"It was kind of hard. It was hard because I didn't want to move," she explained.

She happened to be doing custodial work for NACA's Memphis office and learned of a foreclosure prevention event.

"I didn't know what I was going to do at that time. The event just happened to be in Memphis at that time," she said.

NACA worked with her mortgage company.

"God was definitely in the works. Definitely," said Fletcher.

Two years later, she's still in her home, after the group knocked $25,000 off of her mortgage.

"My payments went down from $1,100 to $866," she added.

NACA helps low to moderate income families in home ownership crisis.

"Folks who have unaffordable mortgages, help them stay in their homes at a more affordable, lower payment," said Rick Herrera, NACA.

The organization also helps people buy new homes.

"We have all the major lenders participating in the event so there is no red tape. The banks should be able to make a decision that same day," said Herrera.

In December alone, 1,500 Memphians foreclosed.

On Tuesday, Mayor A C Wharton urged people to take advantage of the services.

"Many of the blighted properties that taxpayers as a whole are paying for now are a result of folks simply not having this kind of relief," said Mayor Wharton. "This is not merely for those seeking the help, but it's for the interest of the city as well."

But you must come prepared with the proper paperwork. Registration for the event can be done online. To register, click here: http://www.naca.com 

The event runs Thursday through Monday from 8 a.m. to 6 p.m. at Cook Convention Center.

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