Homeownership Preservation Foundation is Sole Recipient of $1 Million HUD Grant to Increase Awareness, Assist Victims of Foreclosure Rescue Scams

HPF Also Awarded $1.72 Million to Support Housing Counseling Services

February 16, 2011, Washington, DC – The Homeownership Preservation Foundation (HPF), which administers the Homeowner’s HOPE™ Hotline 1-888-995-HOPE to provide free, financial education and confidential foreclosure prevention counseling to help homeowners avoid foreclosure, find sustainable solutions, and ultimately improve their financial situation, announces that HPF is the sole recipient of an exclusive $1 million Mortgage Modification and Mortgage Scam Assistance (MMSA) grant from the U.S. Department of Housing and Urban Development (HUD).

The prestigious MMSA grant will enable HPF, through its Homeowner’s HOPE™ Hotline, to continue as the primary ‘call to action’ for HUD’s anti-scam campaign to educate and warn distressed homeowners about foreclosure prevention and loan modification scammers and assist those who may have been victims of scams. HPF has been working in partnership with NeighborWorks America, Fannie Mae, HUD, the U.S. Department of the Treasury and the Lawyers Committee for Civil Rights Under Law, to provide public awareness of foreclosure rescue scams since the program was first announced.

In addition, HPF was awarded a separate HUD Comprehensive Housing Counseling (COMP) grant of $1.72 million to continue its work in providing U.S. homeowners with critical foreclosure prevention counseling and financial education. HUD awards annual grants under the housing counseling program through a competitive process. Organizations that apply for grants must be HUD-approved and are subject to performance reviews to maintain their HUD-approved status.

HPF’s MMSA grant was awarded separately from HUD’s annual grants program.

“HPF and the Homeowner’s HOPE Hotline are central points of contact that homeowners in the U.S. rely on for trusted, confidential, independent information and guidance for foreclosure prevention and mortgage scam assistance,” said Colleen Hernandez, CEO of HPF. “We’re honored that HPF’s quality counseling services are recognized once again by HUD as the caliber it expects, and an integral part of the solution in guiding consumers on the path toward sustainable homeownership and playing a critical role aiding the nation’s housing recovery.”

In announcing the grant awards, HUD Secretary Shaun Donovan said HUD-approved housing counseling agencies are a critical part of the nation’s housing recovery.

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 four 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

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Contact: Homeownership Preservation Foundation
media@995hope.org, 202-480-2775