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Mayor Kasim Reed and the City of Atlanta Partner with Neighborhood Assistance Corporation of America (NACA) for the “Save the Dream” Mortgage Assistance Tour

Post Date:06/07/2010
NACA offers free same- day solutions for Atlanta homeowners with unaffordable mortgages; event is June 11-15, 2010 at the Georgia World Congress Center

Mayor Kasim Reed on Monday announced the Save the Dream tour with Bruce Marks, Chief Executive Officer of the Neighborhood Assistance Corporation of America (NACA), a non-profit community advocacy and homeownership organization. NACA’s Save the Dream Atlanta event runs for 24 hours beginning 9 a.m. Friday, June 11 and ending at midnight Tuesday, June 15 at the Georgia World Congress Center.

NACA’s Save-A-Thon is regarded by many as the most effective and unprecedented foreclosure prevention event in the nation. Thousands of homeowners like Tonya Hicks of Atlanta say the Save the Dream event threw her a lifeline.

“I was about to lose my home, but thanks to NACA and my lender, I’m saving $907 a month on my mortgage,” said Hicks, who attended last year’s event. “My family is thankful and relieved.”

NACA’s Save the Dream events give thousands of people the opportunity to have their mortgage payments permanently reduced by over $500. Some homeowners see savings of as much as $1,000 a month, often with interest rates reduced by 2 or 3 percent, as well as a reduction in principal. Many event participants receive a permanent restructure the same day.

Thousands of homeowners are expected to attend this year’s five-day event at the Georgia World Congress Center. NACA and many of the nation’s major lenders, along with investors Fannie Mae and Freddie Mac, will be on hand to help restructure unaffordable mortgages for homeowners.

“I appreciate all the hard work that NACA is doing in the City of Atlanta,” said Mayor Kasim Reed. “The City of Atlanta simply must be a place where working families can afford to live. The Save the Dream event will make a huge difference in the lives of our residents during these tough economic times and provide them with much-needed economic relief when home foreclosures are a growing phenomenon,” added Mayor Reed.

There will be hundreds of NACA counselors at the Georgia World Congress Center to determine an affordable mortgage payment for the borrower, and hundreds of staff from all the major lenders to process and approve these solutions. NACA has legally binding contracts with all of the major lender/servicers, including Fannie Mae and Freddie Mac, to make mortgages affordable. All NACA services are free, and to sign up for the event go to or call 888-499-6222. For more information, residents can also call the City of Atlanta’s Office of Constituent Services at 404-330-6023.

“NACA has shown that a permanent modification for tens of thousands of borrowers is possible when you provide lenders with the proper tools and require them to make mortgages affordable,” said Marks, NACA’s CEO. Marks has testified in Congress about the effectiveness of the Save the Dream Tour and recommended ways for the nation’s elected officials to require lenders to restructure mortgages on a large scale.

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For more information about this and services of the City of Atlanta visit our website at or watch City Channel 26
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