Foundation Says Borrower Distress Calls Surging

The Homeownership Preservation Foundation, Minneapolis, has reported a "significant jump" in the number of homeowners calling its 888-995-HOPE hotline for assistance in avoiding foreclosure.The national hotline, which helps borrowers who are behind on their mortgage payments, received more than 14,000 calls in the first quarter, a 30% increase from the total received in the fourth quarter, the foundation said. (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 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." More information on the hotline can be found on the Web at http://www.995hope.org, and the foundation can be found at http://www.hpfonline.com.