Elgin workshop to focus on at-risk homeowners

The workshop, "Save The Dream," will be presented from 9 a.m. to 1 p.m. Saturday, Feb. 21, at the Hemmens auditorium, 45 Symphony Way in Elgin. The workshop is divided into two parts, the Home Save and the Purchase programs. The presentation is sponsored by the Neighborhood Assistance Corporation of America, a nonprofit agency and certified by the Department of Housing and Urban Development.

Home Save is the first part of the workshop. This program assists at-risk homeowners in restructuring their mortgages. The agency works with the major servicers and investors. The servicer is whom you send your mortgage payment to every month. They have a contract with the investors that own the loans that gives them the authority to modify or restructure the loan if a client are at risk of foreclosure. The second part of the presentation is an overview of the Purchase program. Its goal is to help people purchase a home with the best mortgage terms possible. Participants in the Purchase program can buy a home with no money down, no closing costs and the interest rate is one percent below the prime market rate. There are no application fees, no points (both paid by the lender), no private mortgage insurance, and perfect credit is not required.

During the workshop, the presenters will outline the 10 steps for individuals to become homeowners through the Neighborhood Assistance Corporation of America. The workshop will provide an overview of the homebuying process and focus on participants becoming qualified. The next step is to attend a Purchase workshop. These workshops are required for all qualified members and take place every Thursday. For details, visit naca.com. This presentation is sponsored by United Realtors. To register, call (847) 841-7060.