Linked with Bruce Marks – USA.
The housing organization Neighborhood Assistance Corp. of America NACA – STOP THE TAXPAYER’S BAILOUT OF WALL STREET, JOIN THE CAMPAIGN FOR MAIN STREET
Linked with Bruce Marks – USA
The Main Goal: NACA is leading the fight against the bailout of lenders and investment bankers while advocating for real solutions for homeowners at risk of foreclosure. The focus is the outrageous $30 billion taxpayer bailout of JPMorgan/Chase’s takeover of Bear Stearns. On Wednesday March 26th, NACA organized more than 200 homeowners, many at risk of foreclosure, to storm the Bear Stearns corporate office in New York City. For over an hour we demonstrated inside their « home ». This is another non-violent « attack » as we bring the homeowner’s anger and frustration to the corporations and wealthy executives who created and profited from this mortgage crisis. A few press clippings are provided below: The campaign needs to continue. Please access the link to sign the petition to stop the bailout of these financial predators and to implement the Homeownership Stabilization Initiative for all owner-occupied non-investor homeowners:
1. Stop the resets
2. Reduce interest rates to the initial rate
3. Impose a moratorium on foreclosures
4. Require default mitigation including restructuring the mortgage to an affordable long-term mortgage payment. (NACA’S Mainpage).
Homepage and in the news;
Economic justice;
Partnership;
Members;
Purchase /America’s best Mortage;
Homesave Program;
Property Rehab;
Vendors;
Participation;
e-mail by the web page;
Contact-Addresses.
About: The Neighborhood Assistance Corporation of America (« NACA ») is a non-profit, community advocacy and homeownership organization. NACA’s primary goal is to build strong, healthy neighborhoods in urban and rural areas nationwide through affordable homeownership.
NACA has made the dream of homeownership a reality for thousands of working people by counseling them honestly and effectively, enabling even those with poor credit to purchase a home or refinance a predatory loan with far better terms than those provided even in the prime market.
Investing in working people: The NACA homeownership program is our answer to the huge subprime and predatory lending industry. NACA has conclusively shown that when working people get the benefit of a prime rate loan, they can resolve their financial problems, make their mortgage payments and become prime borrowers. NACA’s track record of helping people who have credit problems become homeowners or refinance out of a predatory loan debunks the myth that high rates and fees are necessary to compensate for their « credit risk » … (full text).