Last Hope Mortgage

Many homeowners struggling with bad loans are turning to a non-profit group.

Its aggressive and sometimes confrontational tactics often get results. Kate Bolduan (bald-win) follows one woman's quest to save her home.

PATRICIA EPHRAIM WAS DESPERATE. "I had to start working two jobs to keep the place afloat."

SHE SAYS SHE COULD ONLY MANAGE HER MORTGAGE PAYMENT WHILE ALL THE OTHER BILLS PILED UP.

SO SHE, LIKE THOUSANDS OF OTHER STRUGGLING HOMEOWNERS SEEKING RESCUE, SAYS SHE FOUND IT WITH THE NEIGHBORHOOD ASSISTANCE CORPORATION OF AMERICA, KNOWN AS NACA.

THE GROUP'S LEADERS SAY 20-THOUSAND PEOPLE SHOWED UP OVER FIVE DAYS AT THIS EVENT IN DC, MANY FACING FORECLOSURE.

NACA NEGOTIATES FOR HOMEOWNERS DIRECTLY WITH THEIR LENDERS. THEY SAY THE KEY IS KEEPING PEOPLE IN THEIR HOMES, RESTRUCTURING EXPENSIVE ADJUSTABLE LOANS INTO FIXED RATES AND KEEPING THE MORTGAGE WITH THE SAME BANK.

We determine the budget and we submit that solution to the servicer. They only have to do one thing: approve it.

NACA'S CEO BRUCE MARKS CALLS HIMSELF A BANK TERRORIST AND IS KNOWN FOR HIS RADICAL TACTICS LIKE SWAMPING FINANCIAL FIRMS WITH PROTESTERS AND ALSO PERSONAL ATTACKS ON BIG BANK CEOS.

We go to where they live. We always want them to have in the back of their minds 'is NACA going to be there disrupting my country club, my social event, going to my kids' school? Because it's personal.

IT MAY BE WORKING....FOLLOWING THE DC EVENT, MARKS SAYS THEY SENT OUT 10-THOUSAND RESTRUCTURED LOAN REQUESTS . ONE-THOUSAND REQUESTS HAVE ALREADY BEEN APPROVED. PATRICIA EPHRAIM WAS ONE OF THE LUCKY ONES. SHE ANTICIPATES HER MONTHLY MORTGAGE PAYMENT WILL DROP BY 6-HUNDRED DOLLARS.

Just knowing that I have that kind of savings coming in is just a huge stress relief. NACA says because of the success of the DC event and the fact that there are so many more homeowners in need, the non-profit is taking the program on the road with an eight city tour this fall.