Hundreds of people swarmed the sidewalks outside the Capitol Hilton on Wednesday morning, some crying and some shouting, all drawn by the promise of a lower monthly mortgage payment.

They were trying to attend the last day of the “Save the Dream of Homeownership” event, sponsored by the Neighborhood Assistance Corp. of America, which offered to renegotiate unaffordable mortgages for free.

By 10:30 a.m., the crowds had surpassed the hotel’s capacity, and NACA volunteers  redirected people to an orientation at the National City Christian Church or telling them to call their local NACA office to schedule an appointment. 

Ehetagegnehu Tirfe burst into tears when she was told the event was at capacity. “We’ve been here since 5 a.m.,” said the Silver Spring resident, who added she had lost her job after taking the morning off to wait in line. “Where are we now? We don’t have a job, we don’t have the mortgage,” she said.

This story continues below
Advertisement

The Department of Housing and Urban Development has approved the nonprofit to work with home-

owners on fixing their mortgage problems and on budget management.

NACA targets predatory lenders using activist tactics, from rallies outside Congress to accosting bank executives at their homes. Chief Executive Bruce Marks has called himself a “banking terrorist” for his methods.

Participants who made it into the hotel met with counselors who helped determine a restructured mortgage plan and negotiated a new payment with the lender, sometimes all in the same day.

“My mortgage is three thousand-some dollars, and that’s more than my salary,” said Mekonnen Terefe, a District resident who said NACA promised him the organization could knock $500 off his payments, though he did not get to meet with a counselor.

Homeowners looking to refinance through NACA pay no fees. However, the organization requires that successful participants advocate for NACA.

“Membership is a matter of community responsibility,” said Maxine Bender, a spokeswoman for NACA. “When one gets a solution, it is a requirement that they do five items to assist others,” such as volunteer at events or lobby Congress.