Tuesday, August 01, 2006

Ohio Rings Foreclosure Hotline

Inman News has this report. "A national hotline set up by mortgage lenders to help homeowners stay out of foreclosure has fielded more than 2,000 calls from Ohio, where foreclosures have reached 'crisis levels,' the Homeownership Preservation Foundation reports. Ohio residents have made nearly a third of the calls to the hotline since a statewide program launched in April, said Lauren Crandall."

"The Foundation, founded in September 2004 with a $20 million seed contribution from GMAC-RFC, is working with NeighborWorks America, which offers face-to-face advice to home buyers at 245 locations around the nation. NeighborWorks has 10 locations in Ohio, which are 'heavily promoting' the hotline, Crandall said."

"Nationwide, the hotline has received 6,468 calls to date, Crandall said. A staff of 75 counselors can handle 10,000 inquiries a month, and traffic has steadily increased to more than 100 calls a day."


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