Tuesday, May 6, 2014

New grant helps Homeownership Preservation Fund continue aid to distressed homeowners

News from NHC's family of members

by Radiah Shabazz, National Housing Conference

NHC member Homeownership Preservation Fund (HPF) was recently awarded a grant from the National Foreclosure Mitigation Counseling (NFMC) Program to continue serving homeowners facing distress through it Homeowners HOPE™ Hotline. The hotline provides callers with suggestions on how to navigate financial hardship and prevent foreclosure through free, confidential foreclosure prevention counseling in over 170 languages from HUD-approved housing counselors. The service is available 24 hours a day, seven days a week.
 
The NFMC Program is administered through NHC member NeighborWorks America® and has awarded HPF funds for eight consecutive years.   
          
“We graciously thank the National Foreclosure Mitigation Counseling (NFMC) Program for this announcement and for their unwavering support for the critical work that counselors do every day for the millions of Americans still dealing with financial stress,” HPF CEO Colleen Hernandez said in a press release. “These funds are needed so that we can continue to help the thousands of homeowners that call us daily under significant financial distress, and still struggling to keep their home.”

Hernandez said that seven out of 10 people who call the hotline for counseling report they are still in their homes after a year. The financial counsel they receive through HOPE™ Hotline has assisted in preventing these potential foreclosures.

The efforts of HPF are an example of the important role foreclosure counseling plays in preventing homeowners from losing their property. Last year we awarded NeighborWorks America® at the 2013 NHC Gala for its work with their affiliates on foreclosure counseling. Their work through programs like HPF demonstrates how foreclosure education is an important factor in understanding how to prevent foreclosure.  

Since 2007, HPF has served more than five million homeowners, nearly 6,000 every day. 

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