HOPE Hotline Has Helped More Than 4M Borrowers

Posted by Orb Staff on September 23, 2010 No Comments
Categories : Mortgage Servicing

The Homeownership Preservation Foundation (HPF) says it has helped over 4 million distressed homeowners through its Homeowner's HOPE Hotline (1-888-995-HOPE). The hotline provides borrowers with a free foreclosure-prevention counseling service and is available in over 170 languages.

In addition, HPF provides financial education, available at www.995HOPE.org, to homeowners who lack basic essential information needed to build and maintain good credit, develop a budget, buy a home and be prepared for the full costs of sustainable homeownership.

According to HPF's CEO, Colleen Hernandez, 86% of callers surveyed said they were better able to understand their options after talking with counselors, 50% said counselors helped them make direct contact with their servicer, and 34% said their servicer was more willing to work with them after they had been counseled.

The Homeowner's HOPE Hotline has received over 122,000 calls per month this year, or over 5,500 calls from homeowners each day. The hotline received more than 1.77 million calls in 2009 and 1.3 million calls in 2008.

SOURCE: Homeownership Preservation Foundation

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