Popular Loan Modification Program Returns To Miami Beach

MIAMI BEACH (CBS4) - A popular seminar which aims to restructure struggling homeowner's mortgages will take up residence at the Miami Beach Convention Center beginning Thursday.

The Neighborhood Assistance Corporation of America (NACA) "Save the Dream" event sets up shop at the convention center through Monday. This is the second such seminar held in Miami Beach by the non-profit this year.

During the event, NACA's mortgage experts will assess and modify thousands of mortgages for those who feel they can no longer keep up with payments. The process begins with an orientation before meeting with loan counselors will figure out a family's ability to pay. That information is then submitted to a lender for approval.

Doors open at 8 am and close at 8 pm. In the past, many desperate homeowners lined up several hours to renegotiate their inflated mortgages with the bank.