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.

Protesters demand Wells Fargo do more to stop foreclosures



Listen to an audio story from Annenberg Radio News:

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A crowd of about two dozen protesters squished their way into the bank, paying no heed to disgruntled staff and security guards. Their leaders held a letter demanding Wells Fargo participate in a state-wide program called “Keep Your Home California.” The “Keep Your Home” program is federally funded. If the bank reduces the homeowner’s principle, the program will match the difference dollar for dollar. But the protesters want Wells Fargo to participate.

Xaime Casillas was like many protesters holding their ground in the bank—he was getting closer to losing his home. Casillas welcomed his first baby last year, but when his newborn son suffered two heart attacks, he had to leave his job. He’s been in the loan modification process ever since and it hasn’t been going well. He’s angry with the banks.

“It’s like the banks have a shredding machine that you’re using to fax in all your documents to get a loan modification. And it seems like it just goes right into the shredder.”

Casillas’ lender is Chase Bank. He was so close to getting a modification, but then they claimed to not have a crucial page of the agreement and closed his case. Casillas isn”t buying it. He believes the prolonged modification process allows the bank to tack on fees and to keep the homeowner paying, rather than abandoning ship.

“Call them up. They lost this, they lost that. They don’t really care about you.”

The TARP bailout still stings for these homeowners. To them, it doesn’t seem right that taxpayers bailed out the same banks that are now denying them help.

Peggy Mears’ home is also in trouble. But she wasn’t about to give up.

“We will take it to the streets, you will see Egypt in California.”

The Los Angeles Police Department arrived later and said that a lot of police officers are also facing foreclosure. The protesters crossed the street to the Attorney General Kamala Harris’ office. They delivered 10,000 signatures demanding action against the biggest banks.

Wells Fargo released a statement that have agreed to participate in the “Keep Your Home California” program and that they will continue to work with homeowners, non-profits and elected officials to stop foreclosures.

Hai-me Caseehas was resigned but determined.

“I might lose my home, but I’m still gonna help other people keep theirs.”

Homeowners seek help avoiding foreclosures



Listen to the audio story here:

NACA, a national mortgage company, sent representatives to give homeowners advice about foreclosures. The corporation says many people spent the night waiting in line to get help. Annenberg Radio News reporter Rachael Lee asked homeowners how foreclosures have affected them.

City Council approves ambitious anti-graffiti ordinance



The Los Angeles City Council tries again to cut down on graffiti. This time by passing an ordinance to foil taggers. Listen to an audio report by Timothy Beck Werth of Annenberg Radio News.