Skip navigation
Annenberg School of Communication and Journalism University of Southern California
Southern California

Homeowners Struggle with Unaffordable Mortgages

NACA works with U.S. banks to approve homeowners' adjusted mortgages.

Hundreds of homeowners at the American Dream Tour gathered outside the Los Angeles Convention Center on Thursday to protect their homes from foreclosure.

The Neighborhood Assistance Corporation of America (NACA) is helping homeowners make modifications to their high priced mortgages.

NACA has established a contract with major U.S. banks, promising that lenders will lower the monthly payment if homeowners can verify that the mortgage was set up for failure.

Because people cannot pay off their mortgages, they are losing their jobs.

For L.A. residents, this is their last chance to protect not just their homes but their way of life.

New home sales in 2011 were the worst yet, and most existing homesales were made off of foreclosures.

RELATED ARTICLES:

Two Arrested at Foreclosure Protest

Rally Raises Awareness about Foreclosures

Neon Tommy: States Come Even Close To $25 Billion Mortgage Deal

COMMENTS
Leave a comment
Name:
E-mail:*
URL:
Comments:*

A New Supper Club Grabs Hold Of USC


By Tahsin Hyder
05/14/15 | 9:49 p.m. PDT

USC's newest hot spot is an apartment.

Scientists, Vendors Show Off Green Tech


By Marc Sallinger
04/30/15 | 6:17 p.m. PDT

The future of sustainability was on display Thursday at the Spring Green Expo.

A New Supper Club Grabs Hold Of USC

Thursday 4/30/15

Flaxer's Food Trucks 4/30/2015

Weather 4/30/2015

We detected that you might be on a mobile device such as an iPad or iPhone. Sorry, at this time the video box is only visible on desktop computers.