'American Dream' Event Aims To Help People Save Their Homes

SACRAMENTO (CBS13) - A big effort getting underway Thursday morning to help valley homeowners to lower their mortgage payments.

It's all part of the Neighborhood Assistance Corporation of America's "American Dream Tour."

It's an opportunity for homeowners to see how they can lower their mortgage payments.

Hundreds of counselors and bank representatives are at the Sacramento Convention Center helping with loan modifications. People who've lost their homes to can apply for an independent foreclosure review.

Folks from Northern to Southern California lined up in the Capital City, hoping the American Dream Tour will help them keep a piece of their American dream.

"We've helped over a quarter of a million homeowners stay in their homes," NACA representative Rick Herrera said.

A few hundred homeowners filed into the convention center Thursday morning, taking advantage of free help on their mortgages, loans and foreclosures.

Herald homeowner Andres Pimentel has been to two events before. Thursday he was first in line and looking to make this his last.

"Oh three years," he said when asked how long he's been struggling with his mortgage. "Sometimes I'm late on payment or the income isn't there."

A Vacaville teacher called her boss to let her know she wouldn't be in Thursday morning. Instead, she was going to try to save her home.

"My husband got laid off a year ago next month," Juanita Wilbar said. "We were just trying to live off the savings we've been saving for these hard times and now the money ran out."

"We're all trying to get our houses back," Santa Rosa resident Linda Franklin said.

But even with such a great need, event coordinators said they weren't surprised to see so many empty chairs Thursday.

"Folks are just losing hope. They are getting nowhere with their banks. Let's face it, the lenders have a bad reputation with not wanting to help the homeowner," Herrera said.

The event runs through Monday, from 8 a.m. to 6 p.m. each day.

Event organizers say it's best if people preregister for the event online at www.naca.com and print out a document checklist.

American Dream Tour
October 18-22
8 a.m. - 6 p.m.
Sacramento Convention Center, Hall A
1401 K Street