Monday, December 22, 2008

Foreclosure Prevention Hotline Helps Over 1 Million Homeowners

/PRNewswire-USNewswire/ -- The Homeownership Preservation Foundation (HPF) today announced that the Homeowner's HOPE(TM) Hotline (1-888-995-4673) received over 1,000,000 calls to date in 2008. An average of 87,000 calls was received each month, from January to November, this year.

The Homeowner's HOPE(TM) Hotline, provided by the Homeownership Preservation Foundation, is a national 24/7 hotline offering free, bilingual, personalized assistance to homeowners struggling to avoid foreclosure.

"That we have reached over 1 million homeowners in just one year is both staggering and humbling," stated Colleen Hernandez, President and Executive Director of the Homeownership Preservation Foundation. "It is exciting that the Hotline is available to help so many Americans struggling to hold onto their homes. However, I am also humbled by the reality of the current economic situation of our country, leaving yet many more that still need our help."

Almost 300,000 of those who called 1-888-995-HOPE(TM) in 2008 participated in counseling sessions. Counseling sessions connect homeowners with counselors at HUD-certified housing counseling agencies who listen to the details of a caller's difficult and sometimes complicated homeownership situation. Counselors guide callers through a thorough analysis of their financial situation, set goals for moving forward, develop a plan of action for accomplishing homeownership goals, and make a recommendation of the best options for each homeowner's unique situation. If appropriate and with the homeowners consent, Hotline counselors help to connect struggling homeowners with a dedicated team of servicers who will work through the caller's unique mortgage difficulties.

"When someone calls the Homeowner's HOPE Hotline, our goal is to leave him or her better off than before they reached out to us, to help them be more financially secure and to help them avoid foreclosure whenever possible," continued Hernandez. "We have a dedicated team of network partner agencies and Hotline counselors who work with thousands of callers each day to work through the details of their mortgage difficulties, connecting callers with local resources to assist them during difficult times. Our goal has always been to enable individuals and families to avoid foreclosure - and we are succeeding every day."

"A recent study performed by our network partner agency the CCCS Atlanta found that almost 70 percent of counseled homeowners had avoided foreclosure and remained in their homes one year after receiving counseling from the Homeowner's HOPE(TM) Hotline," stated Hernandez. "We have helped over 1 million people and will continue to be the resource to which struggling homeowners can turn."

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