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Tag Archives: Homeownership Preservation Foundation

HPF Appoints New CEO

David Berenbaum is slated to join the Homeownership Preservation Foundation (HPF) on September 2 as the group's new CEO. Berenbaum possesses 28 years of experience in leadership and business management for non-profit companies such as the Equal Rights Center, the Fair ...

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Feature: New World Order

The veterans of this business can remember when REOs ran in the neighborhood of 150,000 a year, delinquency rates were just around 4 percent, and you only needed a credit score of 620 to qualify for a prime mortgage loan. But the housing finance industry, and default servicing especially, has changed. In the cover story of it's September issue, DS News looks at the many factors--from a slew of new regulatory mandates to an altered public perception of debt obligations--that have altered the business into something far from customary.

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HPF and Tennessee AG Partner to Offer Homeowner Hotline

The Homeownership Preservation Foundation (HPF) and Tennessee Attorney General Bob Cooper forged a partnership to offer a statewide hotline specifically for distressed homeowners in the state. The hotline for Tennessee residents is 855.876.7283 and offers free information and referrals to foreclosure prevention and mortgage counseling.

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Nonprofit Counselors: Missing Link Between Borrower and Servicer?

Delinquent borrowers oftentimes make themselves as elusive and unavailable as possible when it comes to communicating with their servicers. During a panel at the Five Star Conference, industry experts discussed the reasons behind the difficulty in reaching borrowers. Colleen Hernandez, CEO and president of the Homeownership Preservation Foundation, explained three main reasons why borrowers won't respond or reach out to their servicer.

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Increase in Calls to HOPE Hotline Could Signal Next Foreclosure Wave

A surge in increased calls to the Homeowners HOPE Hotline, which helps distressed homeowners navigate financial challenges, could signal a possible new wave of foreclosures according to a report released by the Homeownership Preservation Foundation (HPF). The independent nonprofit reported that calls to the hotline from homeowners who are current with their mortgages are up 70 percent this year. Of those counseled, half stated that ""mounting instability"" to continue payments could cause them to default. More than 75 percent of those current borrowers had credit scores above the subprime threshold when they took out the loan.

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HPF Warns of Spike in Foreclosure Scams, Offers Tips

Mortgage foreclosure scams have surged 60 percent this year following newly launched federal programs, the Homeownership Preservation Foundation (HPF) announced. ""Regretfully, every new government initiative spawns a slew of foreclosure avoidance scams, often from the same cast of characters doing business under various names to avoid easy detection and identification,"" said Colleen Hernandez, CEO of HPF. Hernandez added that most of these scams involve individuals purporting to offer foreclosure prevention assistance that trained HPF counselors provide at no cost.

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Industry Completes 5M Loan Mods Since 2007

HOPE NOW announced a major milestone Tuesday -- the completion of 5 million loan modifications since the group began tracking such loss mitigation efforts in 2007. More than 80 percent of these modifications were completed through servicers' own proprietary programs, with the rest coming from the government's Home Affordable Modification Program. Officials called the 5 million mark a halfway point, adding that much more work needs to be done to help distressed homeowners.

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Call for Return of Housing Counseling Dollars Resonates 445+ Strong

More than 445 nonprofit housing counseling agencies nationwide have one simple message for Congress: Restore housing counseling funds. Mandated federal budget cuts earlier this year stripped away $88 million in HUD funding that had been designated to support mortgage and foreclosure counseling programs. Those working on the front lines of the housing crisis everyday say counseling is critical to assisting distressed homeowners, and they're calling on lawmakers to restore funding at the level of $60 million.

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Homeownership Preservation Foundation Unveils Enhanced Website

The Homeownership Preservation Foundation (HPF), an independent nonprofit dedicated to helping distressed homeowners avoid foreclosure, unveiled its new, redesigned website Wednesday. HPF operates the nationwide Homeowner's HOPE Hotline. Its new site now mirrors the assistance already available via phone, including step-by-step details on the foreclosure process, an overview of alternative lender solutions, and details on government mortgage relief programs.

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Deadline Extended for HUD’s Emergency Homeowners’ Loan Program

HUD and NeighborWorks have extended the deadline for homeowners who have experienced a loss of income to apply for the Emergency Homeowners' Loan Program (EHLP). The new deadline is Wednesday, July 27. The cut-off date had originally been set for Friday, July 22. EHLP assists homeowners who are at risk of foreclosure due to involuntary unemployment or underemployment as a result of the economy or a medical condition. Qualifying homeowners are awarded an interest free loan to pay a portion of their monthly mortgage for up to two years.

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