Homeownership Preservation Foundation Announces $550,000 in Funding from NeighborWorks America to Continue Anti-Scam Efforts
WASHINGTON, D.C., October 26, 2012 – The Homeownership Preservation Foundation (HPF), an independent national nonprofit dedicated to helping distressed homeowners navigate financial challenges and avoid mortgage foreclosure through its Homeowner’s HOPE™ Hotline at 888-995-HOPE™, announced today that it has received a total of $550,000 this year from NeighborWorks America to support HPF’s continued efforts to combat mortgage loan scams.
HPF’s team of anti-scam counselors, who are available through its Homeowner’s HOPE Hotline at 888-995-HOPE, receive hundreds of calls each week from homeowners who suspect that they are victims of mortgage scam fraudsters. After a scam is reported, a homeowner can opt to be transferred to one of HPF’s HUD-certified housing counselors should they be interested in free, legitimate guidance regarding their financial struggles. In addition to helping these homeowners protect themselves from further harm, HPF compiles information on the potential scam organizations that is made available to law enforcement agencies for further investigation.
“NeighborWorks America’s generosity will ensure that we can continue our critical work to thwart mortgage scams, and we are extremely grateful to them for this support, as it will allow our anti-scam counselors to continue their mission through June of next year,” said Colleen Hernandez, CEO of HPF. “Mortgage scams are far more prevalent than some may suspect. This year alone we’ve received more than 20,000 calls from homeowners who believe they may have fallen prey to a scam organization. Today’s announced funding will enable HPF to continue warning consumers about loan scams and inform them about the legitimate foreclosure prevention resources available.”
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. HPF guides consumers onto the path of sustainable homeownership and develops innovative solutions to preserve and expand homeownership. Through its Homeowner’s HOPE™ Hotline, 888-995-HOPE™, HPF provides comprehensive financial education and confidential 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 more than six million distressed homeowners, an average of 5,500 each weekday, who depend upon HPF as a trusted, neutral source of information and assistance. For more information about the Homeownership Preservation Foundation or the Homeowner’s HOPE™ Hotline, please visit www.995hope.org.