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Economy

From California to Charlotte, in search of mortgage help

Rick Rothacker and Eric Frazier - Charlotte Observer

December 04, 2009 01:22 PM

Desperate to save her father's California home from foreclosure, Kelly Gonzalez hopped a plane with him Wednesday and flew to Charlotte, where they camped overnight in cold, drizzly rain.

Their mission: to be among the first struggling homeowners to get help from the Neighborhood Assistance Corporation of America, a nonprofit group with a Robin Hood-style reputation for forcing banks to modify predatory loans.

By about 10 a.m. Thursday, the monthly mortgage payment on Israel Gonzalez's Van Nuys, Calif., home had been reduced from $3,100 to $1,730. "It was worth it," Kelly Gonzalez said. "We had faith in what they could do."

That kind of fervent, almost desperate, hope drew thousands to The Park Thursday, where they waited hours to get free help in modifying their loans. NACA, as the Boston-based group is known, has said it expects 50,000 people to attend the event from Thursday through Monday, part of a national tour.

Read the complete story at charlotteobserver.com

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Policy

Are Muslim-owned accounts being singled out by big banks ?

By Kevin G. Hall and

Rob Wile

December 17, 2018 07:00 AM

Despite outcry several years ago, U.S. banks are back in the spotlight as more Muslim customers say they’ve had accounts frozen and/or closed with no explanation given. Is it discrimination or bank prudence?

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