Contact Information: Contacts: Sarabeth Patch spatch@qorvis.com 202.683.3111 Deborah Watts dwatts@995hope.org 612.230.4023
Obama Foreclosure Plan Sparks Large Spike in Calls to Homeowner Hotline
Homeowners Seeking Legitimate, Free Housing Counseling Assistance
WASHINGTON, DC--(Marketwire - March 18, 2009) - The Homeownership Preservation Foundation
(HPF), which operates the Homeowner's HOPE™ Hotline (888-995-HOPE™),
today announced that more than 124,000 homeowners have called the hotline
since President Obama announced his "Making Home Affordable" plan on March
4, 2009. On average, more than 13,500 homeowners have called the Hotline
each day since the announcement, about 3 times the average number of daily
calls coming in to the Hotline prior to the release of the president's
program.
"The Obama administration's new foreclosure prevention plan has clearly
been a catalyst for homeowners to reach out for help," stated Colleen
Hernandez, HPF's president and executive director.
Ms. Hernandez said that the increase in volume was not a surprise. "The
Homeowner's HOPE Hotline is still the only place to which homeowners may
turn 24 hours a day, 7 days a week for free housing counseling assistance
from counseling agencies certified by the U.S. Department of Housing and
Urban Development," she said. "When homeowners have questions or need
help, they are dialing 1-888-995-HOPE."
The Homeowner's HOPE™ Hotline is available to homeowners 24 hours a day,
7 days a week. Counseling is provided in English, Spanish, and 19 other
languages.
The Homeowner's HOPE™ Hotline has already received more than 390,000
calls in 2009, compared to the approximately 20,000 calls received in the
same period in 2007. In 2008, the Hotline received a total of 1.2 million
calls. If the current pace of calls continues through 2009, the Hotline
will receive more than 1.5 million calls and will easily exceed last year's
record pace.
Hernandez said that the increase in calls showcases the growing demand for
quality, free housing counseling services such as those provided by HPF and
the Homeowner's HOPE™ Hotline. "The recent dramatic increase in calls
to the hotline may require homeowners to be more patient than they have in
the past," she said. "The Homeowner's Hope Hotline is committed to helping
as many homeowners as possible get the help they need and we'll work as
quickly as possible to make that happen."
About the Homeownership Preservation Foundation
Founded in 2004, the Homeownership Preservation Foundation (HPF) is a
501(c)(3) nonprofit dedicated to reducing foreclosures and preserving
homeownership for 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™ Hotline, a foreclosure prevention counseling service available
free in English and Spanish to homeowners by calling 888-995-HOPE™. The
Homeowner's HOPE™ 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™
Hotline, visit www.995hope.org.