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HPF Fact Sheet
What We Do
- The Homeowner’s HOPE™ Hotline, 888-995-HOPE™ is a national foreclosure prevention counseling service available to distressed homeowners for free, 24 hours a day, 7 days a week, 365 days a year, in English and 170 other languages
- Since 2007, the Homeowner’s HOPE Hotline has received more than four million calls and has counseled over one million homeowners. In 2009, the Homeowner’s HOPE Hotline received 1.89 million calls and counseled more than 430,000 distressed homeowners
- Demand for this service remains steady. During 2010, calls to the Homeowner’s HOPE™ Hotline average 135,000 per month and 5,500 calls per day
The Value of Counseling to Homeowners
- HPF has a committed partnership with seven HUD-approved network agencies that provide more than 550 certified housing counselors to serve the Homeowner’s HOPE Hotline
- Homeowners who participate in housing counseling services are 60% more likely to avoid foreclosure (Urban Institute Study 2009)
- 70% of homeowners counseled by the HOPE Hotline avoid foreclosure one year after receiving counseling (CCCS Greater Atlanta Study 2009)
What We Know About American Homeowners through Counseling Surveys and Data
- Average unsecured debt load of counseled homeowners is $15,000 (CCCS Greater Atlanta Study 2007)
- 55% of homeowners believe they are “underwater” meaning they owe more on their mortgage than their home is worth (HPF Survey, January 2010)
- 22% of those homeowners who are underwater state the value of their home is more than 20% less than their mortgage (HPF Survey, January 2010)
- 71% of HPF counseled borrowers cite underemployment or unemployment as their primary reason for default (HPF Data, Year End 2009)
- 88% of homeowners believe foreclosure is the last option (HPF Survey, January 2010)
- 86% believe an individual should be committed to paying their mortgage (HPF Survey January 2010)
HPF Partners to Curb Loan Modification Scams, Foreclosure Prevention Scams
- HPF is pleased to work in partnership with NeighborWorks America, Fannie Mae, the U. S. Department of Housing and Urban Development, the U.S. Department of the Treasury and the Lawyers Committee for Civil Rights Under Law to curb foreclosure rescue scams
- This partnership has launched a national campaign and as a result HPF has seen an increase in homeowners calling into the Homeowner’s HOPE Hotline to report victims of scams. HPF has a dedicated team of counselors trained specifically to take information on reported scams and work with the homeowner to address any unresolved financial pressure
- On average, 200 people per week report scams to HPF; if you believe you have been scammed, please contact us today at www.995hope.org
What Homeowners Say about HPF
- “When I reached you I had been denied a loan modification and had two short sales denied by the bank and was looking at foreclosure proceedings starting. You spent time with me on the phone, talked me through my finances, helped me realize that I could do the loan modification per Federal Guidelines, and then, and this is where I believe the biggest difference for me was you made a three way phone call with me, you and my servicer.”
- “Because of my counselor, I was not a victim of two or three scam artists who were trying to charge me $2,000 and up to $4,000 for the services he provided to me in truth and re direction just because that is his job. Words do not express my appreciation to him, the counseling agency and the better future I will have for having come across them.”
- “I really appreciate their help. I would also say that if I didn't contact the Homeowner’s HOPE Hotline I would have given up.”
- “The modification process was spelled out more clearly and I was given some idea of how I could expect things to move along. Overall, I was left with a glimmer of hope; I am diligently pursuing all avenues to remain in my home.”
About the Homeownership Preservation Foundation
The Homeownership Preservation Foundation (HPF) is an independent national nonprofit dedicated to helping distressed homeowners navigate financial challenges and avoid mortgage foreclosure. Through its Homeowner’s HOPE™ Hotline, 888-995-HOPE™, HPF provides comprehensive homeowner education and foreclosure prevention counseling for free, 24 hours a day, 7 days a week, 365 days a year, in over 170 languages. Since 2007, HPF has served over four million distressed homeowners, an average of 5,500 persons each business day, who depend upon HPF as a trusted, independent source of assistance. HPF works to develop innovative and sustainable solutions for preserving and expanding homeownership through education and counseling programs. For more information about the Homeownership Preservation Foundation or the Homeowner’s HOPE™ Hotline, please visit http://www.995hope.org
Communications Contact: Please contact HPF at media@995hope.org
Public Policy Contact: Please contact Sophie Link @ slink@995hope.org
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