Home Loans and Support

Call 1-888-995-HOPE to Stop Foreclosure

Discussion in 'Foreclosure Prevention Services' started by Moe, Aug 23, 2007.

  1. Moe

    Moe Call 1-800-779-4547 Staff Member Loan Safe Mortgage

    This is from the www.995Hope.org website. "The Homeownership Preservation Foundation" Call them to help you stop foreclosure!

    The popular homeowner hotline received more than 14,000 calls during the first quarter of 2007, a 30 percent increase over the fourth quarter 2006. More than 25,000 homeowners called the hotline in all of 2006. In April they were receiving over 300 calls a day. The hot line counseled 15,207 people in the second quarter, analyzing their budgets in detail. Of those, 26 percent were told they might qualify for a loan workout, according to Tracy Morgan, a spokeswoman for the group. Another 28 percent were told to try to improve their budgets then seek a workout. source San Francisco Chronicle

    That was then and in only 5 months and now they are reporting over 1,000 calls per day in this CNN Money report:

    Here are some quotes from that article:

    "Tracy Morgan is a spokeswoman for the Home Ownership Preservation Foundation, which operates a foreclosure hotline (1-800-995-HOPE) for Neighborworks. Last year, she said, the hotline handled about 75 calls a day nationwide. By June, 2007, the number ballooned to 750. For this September, the average day has brought about 1,300 calls.

    "Morgan traces most of that increase to the subprime meltdown. California, where a high percentage of mortgages were subprime adjustable rate mortgages (ARMs), has become the number one caller state."

    "Counseling Overview

    The counselors for the 888-995-HOPE hotline are provided by five leading HUD-approved nonprofit allies - Auriton Solutions, Consumer Credit Counseling Services of Atlanta, Consumer Credit Counseling Services of San Francisco, Novadebt, and Springboard Nonprofit Consumer Credit Management.
    Counselors are certified and trained to set up a plan of action designed just for you and your situation. Spanish-speaking counselors are also available. When you talk to us, you won't be judged and you won't pay a dime.

    We don't just offer general advice - we help you take action. Representatives will arm you with education and support that assists you in overcoming immediate financial issues."


    Things you should know from the 995 HOPE website.

    Homeowner's HOPE provides free counseling - we do not do refinancing, down payment assistance or provide loans. But we can connect you with local nonprofit resources that provide different kinds of assistance.

    Although we have an excellent working relationship with many of the nation's largest mortgage companies, we cannot force a mortgage company to eliminate debt, forgive payments or dictate solutions.
    We are here for you 24 hours a day, seven days a week. Most importantly, we want to help. Remember, the sooner you make the courageous decision to call us, the more we can do to help you right your financial ship.

    About the Homeownership Preservation Foundation

    The Homeownership Preservation Foundation (HPF) is a Minneapolis-based 501(c)(3) nonprofit dedicated to reducing foreclosures and preserving homeownership for American homeowners. The Foundation was formed in September 2004 with a $20 million seed contribution from GMAC ResCap (Residential Capital, LLC), one of the nation's largest real estate finance companies. The Foundation partners with city, county and state governments; federal government agencies; community-based non-profit organizations; and mortgage companies to offer creative solutions to preserve homeownership. For more information about the Homeownership Preservation Foundation, please visit http://www.hpfonline.org.
  2. kms524

    kms524 LoanSafe Member

    I called this number prior to contacting countrywides loss mitigation department because I wanted to see what they can help me with since they were a third party and maybe they could help me out, but they were no help at all. The person I spoke with said well your not deliquent and most likely your mortgage is only serviced by countrywide and the investors own it so they will not be able to do a modification. Her solution to me after about 2 minutes into conversation was that we could go over my financials and she could help me decide what bills to get rid of like cellphone cable etc she said:mad:. I told her no thanks and called countrywide who is looking into a loan modification which I have faxed over documentation and hopefully they will be able to help me after all the bad things I see on them. Just wanted to share my thoughts about that number and thier service.
  3. Moe

    Moe Call 1-800-779-4547 Staff Member Loan Safe Mortgage

    That's not good. To be honest Kristen, Countrywide's Hope Department and many lenders have been difficult to deal with. They are placing priority on borowers that are late and the closer they are to the foreclosure sale date, the more they will work with you. I am interested to hear what happens with them because I haven't had that great of luck with them and many other homeowners are in the same boat.
  4. luvmyhouse

    luvmyhouse LoanSafe Member

    I have been trying to get a loan modification with Option One. I sent the application via mail then fax because there was no record of it when it was mailed. After many phone calls, I still didn't hear back from someone about my application. Meanwhile, I heard about HOPE and called them. The consultant I spoke with took some information from me over the phone. She forwarded the information to our lender. The following week I heard back from someone in Option One's consumer advocacy department. He has been very nice so far. I had to send him our application again, but at least this time, I feel more confident that someone is working on it. Hopefully, I will have good news to share. All this said, I just wanted to thank Moe for informing us about HOPE and wanted to share a good experience that I had with them.
  5. Moe

    Moe Call 1-800-779-4547 Staff Member Loan Safe Mortgage

    That's awesome news! They have a special relationship with several lenders and know exactly what they can and cannot do. Remember how life works. It's not always what you know that gets you ahead, but who you know and 995 HOPE knows the right numbers and personell to get things done!

    Thanks for sharing that!:D
  6. mar639

    mar639 LoanSafe Member

    - I believe you will receive information from your lender just hoping it is asap.

    - I called 1-888 995 Hope today and explained to them my situation. My situation is as follows : I am current with my mortage payments, I sent in two hardhip paperwork one in Sept and one this week. Since I am current with my payments they keep closing my case. My rate doesn't adjust till March 08'. Now the counselor at hope told me they will send me a letter 60 days prior to my rate adjusting with the new payment and if I Know I cannot pay the new amount that is when I should ask for a hardship package. At the moment they are reviewing (the investors) for loan modifications those borrowers who are behind with their payments and not those who are current. But still there is no guarantee. They also send out an appraiser prior to a loan modification. This I don't know.
    She also suggested that I go for a refinance , but I explained to her that the property value is low. She suggested that I continue to push the refinanace which I am currently working on. I hope it can be done. The counselor was so nice and understanding she also suggested that I call back later in january to see if I need help, hoping that I wont call back because I was able to refinance.
  7. Moe

    Moe Call 1-800-779-4547 Staff Member Loan Safe Mortgage

    I'm glad they were nice. There are not MANY lenders are modifying loans pruior to one bein late because they are SO MANY homeowners that are late and need to be helped.
  8. Joeyseven

    Joeyseven LoanSafe Member

    Looks like Indymac(my mortgage company) and NeighborWorks have
    begin working together to help home owners.
    I'm going give them a call,because I either need to sell my house or refi or modified my current mortgage.Even though its a fix rate,I'm on disability now and its getting harder to make my payments.

    IndyMac Bank F.S.B., based in Pasadena, Calif., has partnered with national nonprofit organization NeighborWorks America to sponsor the NeighborWorks Center for Foreclosure Solutions.

    The Center for Foreclosure Solutions (the Center) focuses on outreach to homeowners who are in financial distress - with special attention to low- and moderate- income borrowers - by directing them to call 1-888-995-HOPE, a toll-free number where financial counselors are available.

    IndyMac says the complete program includes a combination of national awareness, advertising, and telephonic and online credit counseling, in addition to face-to-face counseling for those needing more direct intervention.

  9. Moe

    Moe Call 1-800-779-4547 Staff Member Loan Safe Mortgage

    That's great news Joeyseven. Anything to ease the pain and suffering for those homeowners to be saved is great.

    Please do call Neighborhood Works and let us know how it works out for you. Best of luck to you.
  10. mel239

    mel239 LoanSafe Member

    Tried working with ESOP in Cleveland after hearing good things and reading about them in the Plain Dealer.Very friendly,helpful and caring attitude.However 2 days after they submitted pkg to citi ESOP emailed me-sorry,out of luck-call them to discuss shortsale-you have too much forebearance and not enough income.I asked her my other options--finding a boarder,giving up food and electricity-balloon pymts-good faith money or anything to try and save my home.She basically said sorry were done. WTF??? Sad thing is she couldnt spell or form a sentence and didnt come close to getting my name spelled right. WOW!!! To think,I thought these people were going to stand by me and help me fight "BIG BAD CITIMORTGAGE"--haha
  11. dbmom

    dbmom LoanSafe Member

    do not qualify for HAMP-any other mods avail?

    we found out we do not qualify for hamp program as our home morgtgage is with in 31% of our combined income. however our credit card and monthly debt is so high we cannot afford our mortgage. my husband was out of work for 7 months and we had to charge on credit cards to get by.
    my mortgage company (U.S. Bank) told us if we do not qualify for the HAMP program they cannot modify our loan. Our mortgage balance is $425,000. our home is only worth $200,000. on a good day.

    does anyone know if the above info is true or is U. S. Bank telling me a story??
  12. HopingtoFind

    HopingtoFind LoanSafe Member

    Re: do not qualify for HAMP-any other mods avail?

    Lenders seem to all follow that guideline, I don't know anything about U.S Bank in particular though. But have you thought about working to modify or settle your credit card debt. That will make your mortgage payments more affordable.
  13. yomann

    yomann LoanSafe Member

    Re: do not qualify for HAMP-any other mods avail?

    Given those figures, do you still intend to stay in the house ?
    If so, why ...... ?

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