HOPE NOW Assistance to Struggling Borrowers Is Free

WASHINGTON, DC--(Marketwire - March 2, 2009) - HOPE NOW, the non-profit alliance of mortgage servicers, investors, and other mortgage market participants, applauds Connecticut Attorney General Richard Blumenthal and Rep. Joe Courtney for their willingness to investigate alleged charges of misrepresentations by companies who charge for assistance to struggling borrowers. HOPE NOW provides that service free of charge to homeowners, and emphasizes that no homeowner needs to pay any organization for assistance.

Homeowners in need of assistance should call 1-888-995-HOPE (4673), and they will be connected immediately with a HUD-certified counselor who will work with them and their servicer to try to resolve any problems they have with paying their mortgage. HOPE NOW does not charge any fee at all, and provides the best opportunity for homeowners to sort out their problems.

HOPE NOW Alliance executive director Faith Schwartz recently worked with two women at a HOPE NOW foreclosure prevention workshop in Hartford, Conn. who had been charged a fee by a company with a similar name to HOPE NOW. She connected them with the Connecticut AG's office, which then helped get the word out that homeowners need not pay for any such service.

Schwartz expressed her thanks, saying, "HOPE NOW is so grateful to Attorney General Blumenthal and Representative Courtney for their recognition of the seriousness of this issue. We hope that the attention their investigation will provide will make more homeowners realize that they don't have to pay to get help with their mortgage."

"It is such a shame that some organizations try to take advantage of homeowners by imitating our name," Schwartz added. "We provide our service for free."

ABOUT HOPE NOW

HOPE NOW is the industry-created alliance of non-profit counselors, mortgage servicers, investors, and other mortgage market participants that has developed and is implementing a coordinated plan to help as many homeowners as possible prevent foreclosure and stay in their homes. For more information go to www.HopeNow.com or call the free HOPE™ Hotline at (888) 995-HOPE.

Contact Information: Media Contacts: Kara Ross (202) 683-3117 Kate McGann (202) 683-3143