Distressed borrowers who are falling behind on their mortgage payments flooded the Homeownership Preservation Foundation’s) national Homeowner’s HOPE Hotline in the last quarter of 2007.
According to the foundation’s data, the HOPE hotline doubled its caller volume between the third and fourth quarter of 2007—leading to a record number of 143,000 calls in the fourth quarter alone.

“We’re encouraged because more homeowners are being proactive in reaching out for help,” said Colleen Hernandez, president and executive director of HPF. “Mindful of the significant call volume following the President’s announcement, HPF established a triage response system that offers resources to those who need information and directs callers who need foreclosure prevention counseling right to counselors, allowing us to operate more effectively.”
HPF says its HOPE hotline has definitely picked up the pace when considering its call volume increased ten times between the first and fourth quarter of last year.
“In December 2007, the HOPE hotline became the primary contact point for homeowners with delinquent mortgages, as part of the HOPE NOW Alliance, the administration’s initiative to stem America’s foreclosure crisis,” HPF said in a press statement. “HPF is a member of the HOPE NOW Alliance of mortgage servicers, mortgage market participants and counselors. According to HPF, more than 37,000 homeowners received counseling during the fourth quarter alone—more than three times the 10,000 completed sessions in all of 2006.”