The Neighborhood Assistance Corporation of America - NACA - is on a cross-country tour to try and help homeowners and banks reach workable solutions for avoiding foreclosure and managing mortgages. But what really works to help homeowners in trouble, and how is the housing crisis continuing to play out across the country? Will the housing crisis play a large role in the upcoming election?
Bruce Marks, founding director of NACA, will join The Daily Circuit Thursday.
Marks says that banks too often foreclose, even in cases where it clearly makes sense to keep people in their home and paying their mortgage at a lower interest rate. Sometimes it's for seemingly crazy reasons -- like they're missing a tax document that they already faxed in three times.
"This is the most dysfunctional industry in the world," Marks says.
Ed Nelson, communications manager for Minnesota Homeownership Center, will also join the discussion.