This is a three part series about free loan modificaitons. See last week's article: Free Loan Modifications - Part 1: Hope Now Alliance
In Brief:
- NACA started as a grassroots homeowner advocacy group.
- Like Hope Now Alliance, NACA has ties with the big banks.
- Homeowners are better off using other methods of foreclosure defense.
NACA's Story
The Neighborhood Assistance Corporation of America, or NACA for short, is as different from Hope Now (the subject of our last blog post) as can be. NACA started in the late 1980's as a local grassroots organization in Boston. It worked in concert with local trade organizations and unions to help rehabilitate neighborhoods and change housing laws, and the results of its work created positive ripples for homeowners throughout the United States. NACA continued to expand into a national entity into the mid 2000's, and forged agreements with most of the USA's top lenders to create favorable situations for homeowners in need. NACA even took the step of creating their own "fair" mortgage for homeowners, which was backed by the same big banks that NACA had signed agreements with.
A newly single Florida homeowner had endured a financial hardship for nearly half a decade, and by the time he was able to begin picking up the pieces, he was 5 years and over $156,000 behind on his mortgage payments to 
If you weren't sure how to answer any of these questions, then you should take half a minute to download the New York foreclosure timeline, especially if you're at risk for foreclosure or if you're already involved in the 
