Obama foreclosure plan sparks large spike in calls to homeowner hotlineMortgagePress.comHomeownership Preservation Foundation, foreclosures, HOPE Hotline, President Barack Obama, Making Home Affordable
The Homeownership Preservation Foundation (HPF), which operates
the Homeowner's HOPE Hotline (888-995-HOPE), has announced that
more than 124,000 homeowners have called the hotline since
President Barack 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 three
times the average number of daily calls coming in to the Hotline
prior to the release of the presidents 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, seven 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, seven 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 years 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."
For more information, visit www.995hope.org.
