Countrywide, NACA Launch Homeownership Preservation Initiative

Countrywide Financial Corp. and the Neighborhood Assistance Corporation of America (NACA) have formed a joint initiative aimed at preserving homeownership.

The agreement leverages Countrywide's home-retention programs and NACA's model for counseling borrowers – the Home Save approach that includes individual counseling and development of a documented affordability budget. NACA will work with Countrywide borrowers who come to NACA for assistance to develop the most effective plan to save their homes, then submit the plan to Countrywide for approval and implementation, Countrywide and NACA explain.

Currently, Countrywide has 2,700 home retention specialists, while NACA operates 33 local offices across the country.

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