SOURCE: The Homeownership Preservation Foundation

February 19, 2009 09:30 ET

Homeownership Preservation Foundation Applauds the Administration's Homeowner Affordability and Stability Plan

WASHINGTON, DC--(Marketwire - February 19, 2009) - Colleen Hernandez, president and executive director of the Homeownership Preservation Foundation (HPF), the national nonprofit organization dedicated to reducing foreclosures and preserving homeownership that created and operates that Homeowner's HOPE™ Hotline (888-995-HOPE™), today applauded the Homeowner Affordability and Stability Plan announced by President Obama.

Ms. Hernandez said:

The Homeownership Preservation Foundation and the Homeowner's HOPE™ Hotline applaud the Homeowner Affordability and Stability Plan announced today by President Obama. HPF, and the over 500 counselors who work with homeowners 24 hours a day/365 days a year, will assist homeowners in understanding their options concerning this new plan, as well as the other options available to those facing foreclosure.

Because we expect homeowners to have many questions about the plan, HPF will be assisting Homeowner's HOPE™ Hotline counselors in understanding the plan's details so that they are prepared to respond to homeowners appropriately.

We continue to encourage any homeowner who is facing foreclosure to call our free Homeowner's HOPE™ Hotline (888-995-HOPE™) to explore their options.

About the Homeownership Preservation Foundation

Founded in 2004, the Homeownership Preservation Foundation (HPF) is a 501(c)(3) nonprofit dedicated to reducing foreclosures and preserving homeownership for American homeowners. HPF partners with city, county and state governments; federal government agencies; community-based nonprofit organizations; and mortgage companies to offer creative solutions to preserve homeownership. HPF's cornerstone service is the Homeowner's HOPE™ Hotline, a foreclosure prevention counseling service available free in English and Spanish to homeowners by calling 888-995-HOPE™. The Homeowner's HOPE™ Hotline received 1.2 million calls in 2008 and continues to assist in this ever-growing crisis. For more information about the Homeownership Preservation Foundation or the Homeowner's HOPE™ Hotline, visit www.995hope.org.

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