Is there HOPE? Can HOPE NOW help you avoid a foreclosure? - By: Billy Alverado

Many people, who are turning to HOPE NOW or 995HOPE, have been receiving anything but hope. Homeowners facing foreclosure are not getting the support they expected when they contact HOPE NOW. A telephone hot line run by the HOPE NOW Alliance, a public-private partnership launched by the White House in October as a lifeline for homeowners facing foreclosure, appears to be leaving many callers more frustrated than hopeful.

People who dial Hope Now's toll-free number, 1-888-995-HOPE, typically are routed to call centers in Phoenix and Spokane, Wash. Three out of four eventually are connected to credit counselors for a free, informal consultation. But only a fraction of all callers - about 4 percent - ends up talking in person with a housing counselor.

The hot line's counselors are supposed to help connect borrowers with lenders and try to work out loan modifications. However it is being said by industry experts that HOPE was set in place for people to leave the banks alone. That it is actually an escape goat for the banks.

Homeowners attempting to contact HOPE NOW have complained about long wait times, lack of follow-up and relatively minor loan modifications that have failed to help. Homeowners are desperate and wanting to know where to turn for help.

HOPE NOW has responded to these grievances by stating that they are a "Free housing council service established to help explore options and to get you connected to those services that might help". They explain further that they do not profess to be a mortgage modifier. They claim this is up to the homeowner's mortgage company.

Truth is the lenders are not likely to help you and if they do, it most likely won't be enough help. Statistics have shown that over 50 off your current mortgage payment in as little as 60 days without refinancing? For your FREE CD, FREE e-book, and FREE coaching call with Mortgage Modification Expert and Business Man of the Year Billy Alvaro visit our website Saint Jude's Mortgage Rescue

About the Author

For your FREE CD, FREE e-book, and FREE coaching call with Mortgage Modification Expert and Business Man of the Year Billy Alvaro visit http://www.RescuedBySaintJude.com Saint Jude's Mortgage Rescue

Article Directory Source: http://www.articlerich.com/profile/Billy-Alverado/71077

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