Congresswoman highlights free foreclosure prevention counseling service
Congresswoman Virginia Foxx (NC-05) today urged North Carolina homeowners who expect to have difficulty making their mortgage payments to get help as soon as possible. Rep. Foxx advised at-risk homeowners to call 1-888-995-HOPE for free, confidential help from the HOPE NOW Alliance's free HOPE hotline.
"The best way to ensure you don't lose your home is to get help at the first sign of trouble," Foxx said. "If you are having trouble making payments, you can call 1-888-995-HOPE for free foreclosure prevention counseling from expert counselors."
In North Carolina there already have been more than 45,500 foreclosure cases during the first 11 months of 2007, according to data from the North Carolina Administrative Office of the Courts. Studies show that half of homeowners who enter foreclosure never contact their lender for help. The earlier homeowners seek help the easier it is to avoid foreclosure.
"If you recently received a letter from the HOPE NOW coalition, please open it immediately and call your mortgage lender," Rep. Foxx said. "The folks at HOPE NOW want to help homeowners in distress avoid foreclosure."
Like borrowers, lenders view foreclosure as the last possible resort, after all other options have been exhausted. The earlier a homeowner contacts a lender, the more choices the lender has in coming up with alternatives to a foreclosure.