CHARLOTTE
A nonprofit that helps people modify their mortgages so they can keep their homes is a holding a five-day "Save the Dream" program in North Carolina's biggest city.
The Charlotte Observer reported that the Neighborhood Assistance Corp. of America's event begins Thursday at The Park, formerly known as the Charlotte Merchandise Mart. The group expects more than 50,000 struggling homeowners to attend.
The nonprofit has agreements with major mortgage servicers that allow it to restructure mortgages by reducing interest rates and sometimes principal owed. About 350 counselors will be available to come up with affordable payment plans for borrowers. Lenders also will be on site to process and approve the changes.
The service is free.
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