Convention Center Hosts Event For Distressed Homeowners

SACRAMENTO (CBS13) - The largest mortgage companies lined up in one spot Tuesday to help struggling homeowners try to keep their homes.

John Weirouch was in line like everyone else Tuesday with hope for help.

"It's been a nightmare," he said. "I'm so far under and it's just continuing to mount."

But John and others know there was only one certainty.

"That I finally get to sit down with somebody and talk to somebody face to face because I've never felt like I had that," he said.

Sixteen of the largest mortgage companies were at one large room inside the Sacramento Convention Center, including Bank of America, Wells Fargo, Chase and U.S. Bank.

CBS13's cameras were not allowed in to protect their clients' privacy, but the Making Homes Affordable Program allowed struggling homeowners to finally meet face to face with their banks to ask about refinancing their loan and reducing their payments.

They can also ask for relief if they're looking for a job or are underwater. The program also helps to avoid foreclosure.

For John, this was the first time he'd be talking face to face with his mortgage company in the three years he's tried to modify his loan.

"I thought it was going to take you know six months or a year," he said.

But only one third of the homeowners Tuesday will walk out with a solution. The one-day-only event was open until 8 p.m.

Patrick Davie, who drove down from Tahoe, got an answer:

"If i have a job, they'll work out a modification," he said. "If I don't have a job, they'll extend the forbearance."

But John wasn't so lucky. Although he got more answers than he did on the phone in the last three years, he's still playing the waiting game.

"I did get some answers but ... there's still some things they're going to resubmit and there's some hope that they're going to come through."