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NH Offers Free Hotline For Foreclosure Prevention

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Mar 19, 2008 2:20 pm US/Eastern

NH Offers Free Hotline For Foreclosure Prevention

CONCORD, N.H. (WBZ) ― Homeowners struggling to pay their mortgages in New Hampshire can now get free advice to help avoid foreclosure.

The HOPE hotline (1.888.995.HOPE) offers free one-on-one advice by local experts. "We know the best way to stop the foreclosure crisis from escalating is early intervention," said Dean Christon, executive director of New Hampshire Housing, which is sponsoring the ad with the New Hampshire Bankers Association.

Housing foreclosures in New Hampshire have increased dramatically over the past two years -- from about 40 a moth in 2005 to about 160 a month in 2007, according to Christon.

Jerry Little, president of the bankers association, urged homeowners to call their lenders as soon as they see signs that they will struggle to keep up with their mortgages. "A homeowner needs to be realistic and honest about his or her situation," Little said. "Strong, open communication is the key."

(© 2009 CBS Broadcasting Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

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