Is the HOPE hotline for foreclosure prevention the best number to call if I am facing foreclosure?
July 31, 2010 by gtsay
Filed under Foreclosure Properties
Question by Dr. James: Is the HOPE hotline for foreclosure prevention the best number to call if I am facing foreclosure?
The HOPE hotline for foreclosure prevention gets 10,000 calls a day. Being bank sponsored can they really provide service that is in the best interest of the home owners / consumers ?
Best answer:
Answer by Bobbi m
Call the White House and ask for Obama. Tell the receptionist that you voted for Obama. That should get you through.
Know better? Leave your own answer in the comments!
Their information says that if you qualify for the federal home owners assistance, they can’t help you.
In reading their on line information, it appears they are nothing more than a referral service for several credit counselor business’. You can call any credit advisory agency in the phone book and save your self the hassle of dealing with them, because they will just send you to the credit advisory agency that is paying them for the referral.
Credit counseling business want to control your finances, they garnish your wages before anyone else can, and try to make arrangements for the bill collectors to take a smaller payment from them since they get your check first.
They can not stop foreclosures or repossessions. They can ask the creditor to delay foreclosures and repossessions since the creditor will eventually get paid over a longer time period and in smaller monthly increments. It is up to the creditor to agree or come get your home or car.
While Hope doesn’t collect directly from you, they do get referral fees from the Credit Counseling Agencies. Of course the credit counselors get a percent of your income for doing this.
Yes. They have been approved by HUD/FHA to assist homeowners. It’s not a scam. You can trust the information they provide.
The HOPE NOW Alliance is a great resource. There are many other government resources, including HUD. There is a website that has a LOT of the different free government services listed:
http://www.loanforeclosureinfo.com
The site is a free online resource for people facing foreclosure and has links to various government resources.
It’s true that HOPE routes you to a debt settlement co. But what you need is Legal Counsel help have get the most effective way in stopping foreclosure, guaranteed. The Mitigation Team you can email at rregal117@gmail.com and someone will call you for a free consultation right away.
Honestly – the best number to call would be your lender who has your loan. Make sure to ask to speak to the resolution department.
If you are honest and explain your situation they may be willing to renegotiate a relief payment for a year or two. you may not gain much on your equity during this time, but at least you will stop foreclosure.
Good Luck!
Tom