Mortgage Payments Too High? Concerned About Losing Your Home?
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Learn how member, Charles Vaughn, got an advocate to work directly with his lender to negotiate a payment that allowed him to keep his home. 
Contributed by: Charles Vaughn

My wife and I are live in California.   A predatory lender got us a few years ago when I had to go on permanent disability.   We did all the right things with regards to contacting our lender by fax and telephone, as well as snail mail.

I have been a member of The Disability Digest for the past four years. My experience and solution are valuable, and I wanted to share it with others so they can avoid the turmoil I went through..

In 2002 I became permanently disabled after a great company for whom I had worked for nine and a half years decided that my performance was not up to par and released me. My income was drastically reduced.

Of course, there was the mortgage payment and other bills to pay, so I decided to seek out a lender to refinance the loan on our home. I did due diligence by contacting five lenders, constructed a spreadsheet for comparison purposes, and finally decided on one of the lenders. The company selected was American Home Mortgage Servicing, Inc.

After five years it recast and my wife and I could no longer afford it.  So we did what is most recommended and contacted them by letter, telephone, and fax.  We asked them if they would reduce the payment, lower the interest rate, and forgive the accruing interest on the interest only payments we were making. 

We tried every angle for three years to no avail.   We even sent complete packages of documents to them as they requested, only to find out that, time after time, they lost them or they said they never received them. Needless to say, nothing worked and we were frustrated.

Then our BIG break happened....

A friend of mine told me about an organization by the name of NACA (Neighborhood Assistance Corporation of America). They are a non-profit organization that helps folks like my wife and me save our home with a loan modification. 

It is a national organization that has offices in most major cities. As a result, they have achieved in six months what we were unable to achieve in three years. We will be receiving our modification within the next three to four months.

Needless to say we are most happy with the NACA Organization.

About NACA:

They are a nonprofit community advocacy and homeownership organization with a primary goal of building strong, healthy neighborhoods in urban and rural areas nationwide through affordable homeownership.

The great work NACA does has made the dream of homeownership a reality for thousands of working people via counseling homeowners honestly and effectively.

This no nonsense approach enables even people with poor credit to purchase or refinance a loan with lower rates than those available in the open market.

NACA also provides renovation and repair assistance.

To learn if NACA may be able to help you buy a home or refinance click here or follow the link.

I hope my experience helps you cope with the decision of finding affordable and accessible housing that meets your needs.

Charles Vaughn

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     My goal is to help you restore your peace of mind about where you live and the house you live in... and isn't that something we all deserve?

Happy House Hunting!

Brian Therrien
p.s. - To Learn More about How To Find Affordable Housing In Safe Neighborhoods Click Here

p.s.s. Visit our members area and learn about other resources that will help you weave through the maze of disability related issues. Click here