When we first heard that Save the Dream was coming to Philadelphia, we immediately thought that Hakeem “The Dream” Olajuwon was coming out of retirement to help the Sixer’s make a playoff run. But as we looked further into the story, we were just as pleased to see the non-profit organization Neighborhood Assistance Corporation of America is in town to help mediate and (hopefully) remedy pending foreclosures and mortgage terms between homeowners and banks.
Looking to stem the growing tide of foreclosures and predatory lending in the States, NACA works by getting the lender and the borrower at the same table to work out solutions to satisfy both their needs. Started in Boston in the late 80s, NACA has helped countless homeowners hold onto their houses. The five-day event kicked off yesterday at the Philadelphia Convention Center and continues through Monday, April 11. Fox 29 reports that approximately 3,000 people have registered to sit down with their banks to work out ways to avoid foreclosure, and lines formed nearly 12 hours before the doors opened.