National Hotline to help victims of loan modification scams now available

The Homeownership Preservation Foundation (HPF) today announced that its Homeowner’s HOPE(TM) Hotline, 888-995-HOPE(TM), has been selected as the point of contact for homeowners seeking assistance, protection and information on loan modification scams.

In March 2009, Congress appropriated a $6 million grant to NeighborWorks(R) America to develop a national public education campaign about home loan modification scams affecting communities across the nation.

The “Loan Modification Scam Alert” campaign, launched on October 26, educates homeowners about loan modification scams and empowers them to protect their homes. The Homeowner’s HOPE(TM) Hotline is the central point of contact for homeowners who think they may be a victim of a scam.

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“HPF is proud to provide the Hotline to facilitate expeditious and professional responses to homeowner inquiries about scams,” said Colleen Hernandez, president and CEO of the Homeownership Preservation Foundation. “Together with NeighborWorks, HUD, the FTC, Treasury and the Lawyer’s Committee, we will address this growing problem and protect American homeowners.”

Experienced Hotline counselors serving on the newly instated HPF Hotline Escalation Scam Team will help remedy the situations of those who have fallen victim to scams. These counselors will then connect homeowners with other resources including a member of the Lawyers’ Committee for Civil Rights Under the Law for free legal assistance, as well as the official loan modification scam alert website at www.LoanScamAlert.com.

“With HPF and the Hotline’s support, this campaign will able to provide a strong educational component, complemented by an enforcement effort led by the Lawyers Committee,” continued Hernandez. “Not only are we able to connect scam victims to seasoned HUD-approved housing and loan modification scam counselors, homeowners will also have free access to pro-bono attorneys who will review their case and work closely with state AG offices, the FTC, as well as local law enforcement to prosecute cases as appropriate. We are proud to work with these organizations in order to provide the best solutions for and protections to homeowners at risk of falling victim to the growing number of loan modification scams.”

Since 2003, the Homeownership Preservation Foundation has been dedicated to reducing foreclosures and preserving homeownership in the U.S. More than 1.4 million homeowners have called the Hotline in 2009, and more than 340,000 have participated in housing counseling sessions.

About the Homeownership Preservation Foundation Founded in 2003, the Homeownership Preservation Foundation (HPF) is a 501(c)(3) nonprofit dedicated to reducing foreclosures and preserving homeownership for American homeowners. HPF partners with city, county and state governments; federal government agencies; community-based nonprofit organizations; and mortgage companies to offer creative solutions to preserve homeownership.

HPF’s cornerstone service is the Homeowner’s HOPE(TM) Hotline, a foreclosure prevention counseling service available free in English and Spanish to homeowners by calling 888-995-HOPE(TM) (4673).

The Homeowner’s HOPE(TM) Hotline received 1.2 million calls in 2008 and continues to assist in this ever-growing crisis. For more information about the Homeownership Preservation Foundation or the Homeowner’s HOPE(TM) Hotline, visit
www.995hope.org.

SOURCE Homeownership Preservation Foundation, Sarabeth Patch, +1-202-683-3111, spatch@qorvis.com, for Homeownership
Source: http://www.reuters.com/article/pressRelease/idUS211924+28-Oct-2009+PRN20091028
Preservation Foundation

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