The great American Dream of owning a home has never looked so impossible to achieve: roughly 1.65 million homes are in the foreclosure pipeline, housing prices are at an all-time low, and nearly 7% of mortgage holders are more than 60 days late on their payments. Despite the dreary picture, there are an ever-increasing number of lifelines for people trying to avoid foreclosure:
One of the biggest national hotlines for free home counseling is 888-995-HOPE, run by the Congress-funded Home Preservation Foundation. To date, the HOPE hotline has counseled four million homeowners since 2008, and helped 70% avoid foreclosure within a year. HOPE is the number to call before you seek a loan modification or expensive legal representation: a counselor will listen to your housing and financial concerns and, if necessary, facilitate a three-way conversation with a third party for additional help. With 550 employees stationed in 8 centers around the country, Diane Zyats, VP of Communications at the Homeownership Preservation Foundation, says there is rarely a backlog of homeowners waiting to receive advice. This, Zyats stresses, is key to preventing a distressed homeowner from falling for one of the many foreclosure scams out there.
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