Thousands show up in LA for free mortgage help

Mortgage lines soon to be replaced by bread lines? Quantitative easing part 2 (QE2) may renegotiate all mortgages and send nearly all asset prices higher, but it won’t create many jobs for Americans living within an economic power shift.

The nonprofit Neighborhood Assistance Corporation of America, which is offering homeowners the chance to restructure their loans at lower rates, said about 5,000 people were in line when the doors opened at 8:30 a.m.

Thousands more were expected over the next five days, during which counselors will be helping people at risk of foreclosure around the clock.

Source: google.com

From Bob