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March 6, 2009, 4:24 pm
Associated Press Reports on Foreclosure Prevention Counseling at Springboard
Springboard Nonprofit Consumer Credit Management was the focus of a recent story by John Mone of the Associated Press, the story featuring foreclosure prevention counseling came on the heels of the Obama Administration and U.S. Department of Treasury's Making Home Affordable program that offers assistance to 7 to 9 million homeowners making a good-faith effort to make their mortgage payments.
In the AP story Mone reported, "When it comes to foreclosure numbers, Riverside County California is pretty much in the top ten in the United States. This is where the sub-prime mortgage meltdown struck deep."
With the U.S. unemployment rate reaching its highest level in 25 years, Springboard is reporting a record number of counseling sessions in the areas of foreclosure prevention and credit and debt counseling. Throughout the nation, Springboard offers assistance with housing counseling, money and credit management through educational programs and comprehensive counseling in both English and Spanish. Springboard is a HUD approved housing agency, a member of the National Foundation for Credit Counseling, and agency partner in the nationwide Homeownership Preservation Foundation's Hope Hotline. "We encourage distressed homeowners to reach out to their lenders and HUD approved housing counseling agencies like Springboard," said Melinda Opperman, vice president of community outreach at the Springboard housing and credit counseling agency. "We're aware of instances on a daily basis where troubled homeowners have been taken advantage of by paying upfront fees to companies promising success for loan modifications and other workouts only to later learn no work was performed and much damage has been done. Negotiating loan workouts, options and solutions is something lenders and non-profit housing counseling agencies offer homeowners for free," said Opperman.
Springboard offers the following advice for consumers facing foreclosure or other financial hardship.
• Open all mail promptly. Do not ignore the communication from your creditors or lenders.
• If you are having problems making your payments, call or write to your lender's Loss Mitigation Department without delay.
• Be prepared to explain your situation and provide your lender with your financial information.
• Do not pay money upfront for a loan modification.
• Be wary of foreclosure rescue scam artists that claim to be helping you save your home.
• Contact a HUD approved housing counseling agency.
In 2008, Springboard counseled nearly 20,000 troubled homeowners in California, and more than 50,000 nationwide.
For more information, contact: Sheri Stuart, Senior Communications Specialist
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