Mortgage event offers help for troubled homeowners

April 5, 2013 8:09:39 PM PDT
An event in San Francisco Friday drew hundreds of struggling homeowners with the promise of meeting their lenders face to face.

The Neighborhood Assistance Corporation of America says the biggest mortgage lenders have made agreements to lower interest rates for borrowers who prove they can't pay.

NACA has been doing these events for several years, but now they're seeing a different kind of problem with fixed rate mortgages -- good loans people can't afford now that bad loans have dragged the economy down.

The mortgage relief event continues through next Tuesday. It's at the San Francisco Marriott Marquis from 8 a.m. until 6 p.m.