MBA, NeighborWorks to Fight Foreclosures

The Mortgage Bankers Association has announced a partnership with NeighborWorks America to support a national campaign to help borrowers stay in their homes.The campaign will link homeowners in danger of foreclosure to a free counseling hotline (888-995-HOPE) provided by the Homeownership Preservation Foundation and establish intervention programs in cities with high rates of foreclosure, the MBA said. Other elements include conducting a public education campaign with the National Ad Council to improve contact rates for homeowners in financial distress, and providing certified training programs to foreclosure counselors through the NeighborWorks Center for Homeownership Education and Counseling. NeighborWorks America is a Washington-based nonprofit organization created by Congress to provide financial support, technical assistance, and training for community-based revitalization efforts. The organization can be found online at http://nw.org, and the MBA can be found at http://www.mortgagebankers.org.