Concerned Borrowers Flood HOPE Hotline in Third Quarter

Concerned homeowners continue to flood the HOPE Hotline—a national loss mitigation hotline designed to help homeowners mitigate the risk of foreclosure and a key part of the ""Homeownership Preservation Foundation"":http://www.995hope.org (HPF).
According to the foundation's latest report, hotline counselors answered 60,000 calls in the third quarter of this year—twice the amount received in the previous quarter and ten times the amount answered in the same quarter of 2006.
""Troubled homeowners are more aware of our services because of the intense media coverage surrounding the foreclosure crises,"" says Colleen Hernandez, president and executive director of the HPF. ""It's encouraging to know we've been able to reach out to so many homeowners. With more than a million Americans facing possible foreclosure, we are working hard to expand our counseling capacity and continue our commitment to preserving homeownership through our services.""
Additional HPF statistics show of the many callers, 25,000 homeowners received mortgage counseling during the third quarter—up from 15,000 sessions in the second quarter. During the third quarter, California accounted for the highest percentage of borrowers who were receiving mortgage counseling.