WIS News 10 - Columbia, South Carolina | Some still waiting after NACA's promise to struggling homeowners

Some still waiting after NACA's promise to struggling homeowners

By Stewart Moore - bio | email

COLUMBIA, SC (WIS) - The Neighborhood Assistance Corporation of America, or NACA, stopped in the Midlands in March as part of their 'Save The Dream' tour that promised struggling homeowners that their mortgages would be lowered and their interest rate cut.

"For all the homeowners who are here, we are going to get this done. We're going to get this done," said NACA's Bruce Marks.

Four months later, some are still waiting on that dream to come true.

Karen Long is paying $2,000 a month for her mortgage. To say she is over her head is an understatement, so like thousands of others, she waited in line for more than 10 hours for help.

"At the end of the day they did give us a recommendation to reduce our mortgage rate from 11% to 3% and more than cut our mortgage payment in half," she recalls.

Excited about saving her home, Karen waited patiently by the phone and mailbox for the change in her rate.

"Four months later, and I have not received one telephone call from NACA since then," says Karen. "I'm so concerned right now because we are a little behind, and if NACA's not going to do what they said they could do, let me know."

We called NACA and asked what they had to say about her problem.

Darren Duarte said, "When we have something to tell her, we will get back to her and say, 'here's your loan restructured.' Just because she doesn't hear back from someone A) doesn't mean we aren't working on her solution and B) that we are not working hard to get her done."

The federally funded company's CEO motivated crowds of people, including Karen, flanked by South Carolina political heavyweights beginning with Columbia Mayor Bob Coble, Congressman John Spratt and the third highest ranking member of the house, Majority Whip Jim Clyburn.

We asked Clyburn if he has heard of any complaints in his office. Clyburn said, "Sure, but not near the success stories I've heard."

Clyburn says he heard one of those success stories just days ago, "I got my letter this week. I finally got my letter this week. Thank you so much. I drove all the way from Edisto. I didn't think it would come through, but it came through this week."

It's a story, Karen says, that doesn't seem to be a reality for her at this time.

"I asked my mortgage lender whether NACA had contacted them, and they said no. And that was in early June," she says.

According to Darren Duarte, "She should contact me and I will find out why they haven't responded with an approval or a denial."

You can count on WIS to continue to work with Karen long to find out what is going on with her mortgage.

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