Monday and Tuesday are the last days metro Atlantans can attend a downtown Atlanta event designed to help homeowners avoid foreclosure, cope with burdensome mortgages and provide a way for prospective homebuyers to get low-cost loans.
Neighborhood Assistance Corporation of America, a mortgage counseling group, has been holding its “American Dream” events free of charge around the country, and in Atlanta since Friday..
The local event is at Americas Mart Building 3, 250 Spring St. NW in downtown Atlanta, from 8 a.m. to 6 p.m.
“Major lenders such as Bank of America, Chase, Wells Fargo are on site to meet face to face with their borrowers and obtain a same-day solution,” NACA spokesman Ricardo Herrera told The Atlanta Journal-Constitution. “We’re expecting to see a few thousand people during the five days.”
Participants may benefit from new loan terms, including possible lower interest rates and principals, which could lower monthly payments and the overall cost of a loan over time.
Participants are encouraged to bring the following:
* Last 30 days of pay stubs.
* Last 2 years of income taxes
* A mortgage statement
* Valid identification
* Last 3 months of bank statements and 6 months if you’re self employed
“These are the most important, but if you don’t have them all we encourage folks to come and get the process started,” Herrera said. “Also, you don’t just have to be behind on mortgage payments or facing foreclosure to get help. If you are current but robbing Peter to pay Paul there’s assistance.”
NACA also said its group will be offering new loans for homebuyers who qualify, with no down payment, no closing costs, no points or fees and below-market interests.
The group says it has helped more than 250,000 homeowners nationwide.