Get Inman via Facebook Messenger
Our top headlines delivered once a day.
by CareyBot

A national hotline set up by mortgage lenders to help homeowners stay out of foreclosure has fielded more than 2,000 calls from Ohio, where foreclosures have reached "crisis levels," the Homeownership Preservation Foundation reports. The average foreclosure can cost a mortgage company $50,000 or more, said Walt Fricke, president and executive director of the Foundation, when the hotline was launched in February. The foreclosure prevention hotline is being advertised on 90 TV and 141 radio stations around the nation and at www.995hope.org. Ohio residents have made nearly a third of the calls to the hotline, 888-995-HOPE, since a statewide program launched in April, said Lauren Crandall, a spokeswoman for the Foundation. According to a Foreclosure.com report, new foreclosures rose 11.8 per...