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.