An estimated 10,000 people were in line Friday morning when the Cal Expo Pavilion’s doors opened on a five-day event aimed at helping distressed homeowners avoid foreclosure.
The line for the Neighborhood Assistance Corporation of America’s “Save the Dream” event stretched from the Pavilion, through Cal Expo’s east parking lot, onto Exposition Boulevard and nearly to Ethan Way – a distance of half a mile.
Sacramento-area homeowners stood shoulder to shoulder with those from all parts of California, Oregon, Washington, Nevada, Arizona and far beyond, hoping to have their mortgage payments lowered in order to keep their homes.
NACA CEO Bruce Marks said Friday that he expects that many at Cal Expo by closing time Tuesday.
“You’d think that the crowds would diminish by now, but they’re not. They keep coming,” Marks said. “This (Sacramento event) is probably going to have about as many as we had in Los Angeles.”
NACA, headquartered in the Boston suburb of Jamaica Plain, will be working with homeowners around the clock through 8 p.m. Tuesday.
Its services are free, and it serves both the employed and unemployed. Options include renegotiated loans, interest rate reductions, loan principal reductions and mortgage restructuring. NACA said it has legally binding contracts with major lenders, including Fannie Mae and Freddie Mac.