New Hotline for Homeowners Facing Foreclosure
The HOPE NOW Alliance announced Monday the establishment of a consumer hotline for homeowners facing foreclosure. The HOPE Homeowner’s hotline is being managed by the Homeownership Preservation Foundation, and provides free, independent, bilingual, HUDapproved counseling and advice 24 hours a day for homeowners who have questions about their mortgage loans, and may be in danger of losing their homes.
The HOPE NOW Alliance was organized at the urging of Treasury Secretary Henry Paulson and members from the U.S. Dept. Housing and Urban Development (HUD) in November, and consists of consumer credit counseling organizations, mortgage service providers, lenders, investor groups, and 10 trade associations serving the housing industry, including NeighborWorks America.