Mortgage help offered at Convention Center this weekend



imageHomeowners in South Los Angeles who are struggling with their mortgages or being threatened with foreclosure can seek help this weekend at the Los Angeles Convention Center.

The Neighborhood Assistance Corporation of America’s American Dream Tour will be in Los Angeles from Thursday through Monday and all services are completely free.

NACA experts are offering same-day solutions for those hoping to reduce their monthly payments by helping them negotiate with their lenders. They take into consideration budget, income and hardships as well as previous loan information to create modified mortgages.

Those looking to buy homes can sign up for the corporation’s own mortgage plan that touts no downpayment and a 30-year fixed interest rate.

Walk-ins are welcome, but NACA urges people to register online to give lenders time to prepare their file and speedup the day-of process.

You can also visit the registration page to find a list of necessary documents to bring to the workshop.

Protestors encourage national boycott of Wells Fargo



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Outside of the Sentinel newspaper building, a small group gathered to protest Wells Fargo and its management of home loans and mortgages. The group said Wells Fargo preyed on the disadvantaged, citing the elderly and minority groups as two common victims.

“Well, they’re basically using scare tactics and, unfortunately, with the elderly, the elderly just don’t have I guess the ability to be able to comprehend what is going on, so they are basically victims,” said Pedro Baez, a South Los Angeles community leader.

Specific allegations against Wells Fargo include the bank’s falsifying of documents, lying about interactions with customers and claiming to have lost key documents in customer’s loan processes. Ophelia Harrison brought her friend’s bank paperwork to the event to share with other protesters.

“I’m here because I’m concerned, not just for myself, but for other people across the nation,” Harrison said.

Jennifer Langan, a Wells Fargo representative, described these accusations as “outlandish.” Langan also said since the beginning of 2009, Wells Fargo has helped more than half a million customers keep their homes from foreclosure.

“Foreclosure is a difficult and damaging process for our customers and our communities, and it is a last resort after all available options for keeping the customer in the home have been exhausted,” Langan said.

Carrying signs and a blowhorn, the protesters’ next stop was a nearby Wells Fargo bank.