A non-profit mortgage broker and advocacy group has launched a $1 billion campaign to help the victims of predatory loans refinance their mortgages and save their homes.

The Neighborhood Assistance Corp. of America will use money from Citigroup and Bank of America Corp., to bail out subprime borrowers who were given loans they can't afford but can't get out of either because they owe more than their homes are worth.

NACA will offer financial counseling and process the applications for 30-year loans at a fixed, below-market rate of 5.5% a year. There are no fees and the banks pay all the closing costs.

Click here to apply for an NACA loan to refinance your home.

If you're behind on your mortgage payments, or worried that you're about to miss one, take a look at our plan for avoiding foreclosure.