Alaska Joins Anti-Predatory Campaign

Alaska has launched a statewide version of Freddie Mac's "Don't Borrow Trouble" education campaign aimed at preventing predatory lending practices.The campaign, headed by a coalition of 31 public and private organizations, has established a toll-free consumer help line, at 888-925-2521, that will be staffed by trained professionals. They will provide free assistance on buying or refinancing a home, consolidating debt, taking out a home equity loan, and preventing mortgage foreclosure, as well as referrals to appropriate legal and financial experts, Freddie Mac said. Members of the coalition include the U.S. Department of Housing and Urban Development, AARP Alaska, Anchorage Neighborhood Housing Services, and Fairbanks Neighborhood Housing Services. Freddie Mac began launching local "Don't Borrow Trouble" efforts in 2000.