Help from mortgage groups during foreclosure | News

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Help from mortgage groups during foreclosure

JACKSONVILLE, Fla. -- Neighborhood Assistance Corporation of America, or NACA, advertises a way homeowners can reduce their monthly payments by hundreds and sometimes thousands of dollars.

"There are pros and cons to those types of events," said foreclosure defense attorney Steven Combs.

Combs does not have direct knowledge of NACA's procedures, but said many of the services offered by mortgage help groups troubled homeowners can probably be done by homeowners on their own. 

"Anybody can pick up their phone and call their bank and say they are in default and say 'I lost my job and I would like to apply for a loan modification,'" Combs said.

But, he said if new legislation in Florida passes, banks may have an easier time getting homeowners out of their homes if they don't pay. 

"The purpose of the legislation is to make the foreclosure cases move faster, but in doing so it really departs from about 100 years of case law at least in the State of Florida as to what has to be proved in a foreclosure case," he explained.

NACA has an event in Jacksonville later this week. We checked their Better Business Bureau record. They don't have a ranking, but they have 137 complaints closed in last 3 years.


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