Attorney General McGraw Announces Help for Consumers Who Are in Danger of Facing Foreclosures

Attorney General McGraw Announces Help for Consumers Who Are in Danger of Facing Foreclosures

Charleston, WV., November 6, 2007 — Attorney General Darrell McGraw is advising consumers who are facing the danger of foreclosure to call 1-888-995-HOPE (4673), a counseling service provided by the Homeownership Preservation Foundation (“HPF”). Founded in 2004, HPF is a nonprofit organization dedicated to helping Americans avoid foreclosure. HPF operates a national help line that offers homeowners personalized assistance to help manage mortgage payment concerns.

HPF can be contacted 24 hours a day, 7 days a week at 1-888-995-HOPE (4673) or on the Internet at www.995hope.org. If a consumer calls HPF, he or she will speak with a respectful, nonjudgmental counselor who is an expert in foreclosure prevention. All assistance is absolutely free.

“Mortgage companies sustain an average loss of about $58,000 when a foreclosure occurs. They are in the business of providing mortgages – not owning or selling homes. The sooner a struggling homeowner asks for help, the easier it is for HPF to work with their mortgage company to formulate a plan to pay back their loan and avoid losing their home,” McGraw explained.

For more information, consumers can also contact McGraw’s Consumer Protection Division at 1-800-368-8808 or at www.wvago.gov.

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