Facing Foreclosure?

Mortgage help at McCormick Place

July 23, 2009
BY FRANCINE KNOWLES Staff Report

Homeowners at risk of foreclosure will be able to get free help in modifying their mortgages and in some cases on-the-spot modifications at a four-day event at McCormick Place that begins Friday.

The Neighborhood Assistance Corporation of America, which has helped some home owners permanently reduce their mortgage interest rates to as low as two percent and helped others reduce their outstanding principal and interest rates, will host the event as part of the non-profit’s national “Save the Dream Tour.” Roughly 250 counselors will be on hand each day to provide free assistance. Among lenders that will be participating are JPMorgan Chase, Bank of America, Countrywide, Fannie Mae, Wells Fargo and others, the group’s representatives said.

Homeowners seeking help will need to bring their:

• Last 30 days of pay stubs or other proof of income

• Most recent mortgage statement

• Most recent property tax bill

• Proof of homeowner’s insurance, the declarations page

• Last two bank statements

• A letter telling lenders why assistance is needed

The event will take place from 9 a.m. to 8 p.m. July 24-27 at McCormick Place North, 2301 S. Lake Shore Drive.

Pre-registration is recommended, but not required. For more information or to register, visit www.naca.com or call 1 888 499-6222.