Homeownership Preservation Foundation
Sees Significant Jump in Calls from Homeowners Facing Foreclosure
Foundation Adds Fifth Counseling Partner in Efforts to Counsel Homeowners

MINNEAPOLIS (April 23, 2007) - The Homeownership Preservation Foundation has reported a significant jump in the number of homeowners calling its 888-995-HOPE hotline for assistance in avoiding foreclosure. The national hotline (for more information, go to http://www.995hope.org), which helps individuals and families who are behind on their mortgage payments, 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.

"Currently, more than 300 homeowners call 888-995-HOPE daily," said Colleen Hernandez, president and executive director of the Homeownership Preservation Foundation. "The increase in the number of calls is a direct result of the rising number of homeowners suddenly finding themselves in the position of potentially losing their homes combined with the growing awareness of the hotline as a result of a nationwide public service campaign. There are thousands of homeowners who are at serious risk of losing their homes unless they take action now."

The Homeownership Preservation Foundation, in partnership with mortgage lenders, nonprofit organizations and city government agencies, provides homeowners with counseling and resources to help homeowners resolve their mortgage troubles. Homeowners who call the 888-995-HOPE number can receive free advice and counseling from nonprofit, HUD-certified organizations - 24 hours a day, 7 days a week.

The Foundation recently added a fifth HUD-approved agency in its efforts to help counsel homeowners. CCCS of San Francisco joins Auriton Solutions, CCCS of Atlanta, Novadebt, and Springboard, who together create the primary counseling center for the 888-995-HOPE hotline.

CCCS of San Francisco has been providing financial education and counseling to families nationwide for 38 years. Since 1969, hundreds of thousands of individuals and families have turned to CCCS for help with money management, credit, debt, and housing issues. Its Housing Education Program is recognized nationally by lenders, community organizations, private corporations and foundations as an outstanding resource for families struggling with the challenges of homeownership.

"We are pleased to partner with the Homeownership Preservation Foundation," said Rick Harper, vice president and director of housing for CCCS of San Francisco. "We look forward to being able to help homeowners around the country find real solutions to their homeownership dilemmas."

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.

About Consumer Credit Counseling Service of San Francisco
Consumer Credit Counseling Service of San Francisco is a nonprofit financial counseling service and personal finance resource center. Since 1969, CCCS has helped hundreds of thousands of individuals and families overcome their financial challenges and reach their goals. CCCS is a HUD-certified housing counseling agency, accredited by the Council on Accreditation of Services for Families and Children and a member of the National Foundation for Credit Counseling. CCCS provides counseling and education in English and Spanish, in person and via telephone.

The Housing Education Program of CCCS of San Francisco partners with lenders, government agencies, foundations and corporations nationwide to provide necessary housing education and counseling to families seeking their first home, as well as those struggling to avoid foreclosure. Since its inception in 1994, the Housing Education Program has assisted over 100,000 families in achieving the American Dream of homeownership through its counseling and education programs, while helping tens of thousands more determine a viable plan for keeping their home when faced with foreclosure.

For more information about CCCS of San Francisco and the Housing Education Program, please visit www.cccssf.org and www.housingeducation.org.


Copyright © 2007 CCCS of San Francisco