Foreclosure Telephone Help Line Crashes On First Day

Posted by Orb Staff on July 13, 2010 No Comments
Categories : Mortgage Servicing

program designed to assist Michigan homeowners facing foreclosure got off to a rocky start when its telephone help line crashed following a rush of inquiries. The Detroit Free Press [link=http://www.freep.com/article/20100712/BUSINESS06/100712042/1002/BUSINESS/Hardest-Hit-programs-launch-frustrates-callers]reports[/link] that the Hardest Hit Fund program, which was officially launched yesterday with the goal of helping as many as 17,000 Michigan homeowners, became overwhelmed as soon as its telephone help line began accepting calls. By 10:00 a.m., the program's help line received 30,000 calls, causing the telephone system to crash. The program, which is administered by the Michigan State Housing Development Authority, will grant funds on a first-come, first-serve basis until its $154 million in funding is depleted. The program is designed for Michigan homeowners who are currently receiving unemployment compensation, homeowners who have fallen behind on their mortgage payments or taxes due to a temporary layoff or medical emergency, and homeowners who can no longer afford their mortgage payments due to lower household income. SOURCE: Detroit Fre

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