Homeownership Preservation Foundation Receives $3.4 Million Grant from National Foreclosure Mitigation Counseling (NFMC) Program
WASHINGTON, D.C., April 17, 2013 – 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 $3.4 million in grant funds from the National Foreclosure Mitigation Counseling (NFMC) Program overseen by NeighborWorks® America.
HPF will use the funds to further support the foreclosure counseling services it provides for free to distressed homeowners through its national HOPE Hotline, which is staffed by professionally trained HUD-approved housing counselors. HPF’s hotline is available every day, around the clock in over 170 different languages. HPF counselors provide struggling homeowners the independent, reliable, and unbiased financial guidance they need to make better informed decisions about their mortgages and the other financial challenges they may be experiencing.
“We warmly thank NeighborWorks America for this announcement and for their unwavering support for the critical work that counselors do every day for the millions of Americans still facing foreclosure,” said Colleen Hernandez, CEO of HPF.
She continued: “Countless studies from myriad academic, government, and other independent sources, including NeighborWorks, have shown that housing counseling works. Indeed, seven out of 10 homeowners who call HPF’s HOPE Hotline report that they are still in their homes a year later. It is due to the generosity of organizations like NeighborWorks and programs like NFMC that these financially struggling homeowners are getting the financial guidance they desperately need.”
This is the seventh consecutive year that HPF has received funding through the NFMC program, which is administered through a competitive application process by NeighborWorks America that adheres to guidelines defined by Congressional legislation.
About the Homeownership Preservation Foundation
HPF — the Homeownership Preservation Foundation — is an independent national nonprofit dedicated to guiding consumers along the path to financial health and sustainable homeownership. The organization has been at the forefront of helping distressed homeowners navigate their mortgage challenges and avoid foreclosure, and is recognized for developing innovative solutions to preserve and expand homeownership. Through its HOPE™ Hotline, 888-995-HOPE™, HPF provides comprehensive financial education and confidential holistic counseling for FREE, 24 hours a day, 7 days a week, 365 days a year, in over 170 languages. Since 2007, HPF has served nearly seven million distressed consumers, an average of 4,500 each weekday, who depend upon HPF as a trusted, neutral source of information and assistance. For more information about HPF or the HOPE™ Hotline, please visit www.995hope.org.