Thousands line up at L.A. Convention Center for chance to avoid foreclosure
Thousands of distressed homeowners lined up Thursday morning outside the Los Angeles Convention Center for the chance to restructure their mortgages and avoid foreclosure at a five-day refinancing event. The event is sponsored by the Neighborhood Assistance Corporation of America, a national mortgage company that holds large refinancing events around the country. NACA says its service often helps homeowners facing foreclosure reduce their mortgage rates to 2% or 3%. The company's Save The Dream Tour is in its second year of barnstorming.