NACA’s Latest Move…Protesting Fannie Mae

A few weeks ago, I wrote about the Neighborhood Assistance Corporation of America, which helps people secure home loans, and also has worked with thousands to restructure mortgages for properties threatened with foreclosure.

The group, a non-profit, has a curious practice of asking its participants to volunteer throughout the year in some of their campaigns for fair loan practices. Well, here's what the group is up to today (click on the bottom left-hand box). And here's some information from an article in today's Post:

The Neighborhood Assistance Corporation of America, which represents low- and moderate-income borrowers, plans today to rally hundreds of people at Fannie Mae headquarters to protest its foreclosure policies...

NACA said Fannie Mae is too slow to restructure mortgages for people who are at risk but have not yet gone delinquent, balks too often at lowering the interest rate on loans, and refuses to write down mortgages and lower the amount borrowers owe.