COMBATING SUB-PRIME CRISIS HORSLEY HIGHLIGHTS:
HOMEOWNER EDUCATION & LOAN PROGRAM (H.E.L.P.)
Touts Mortgage Crisis Hotline & Website To Assist Overburdened Homeowners
Hauppauge, New York – Addressing the sub-prime crisis Legislator Wayne Horsley hosted Lend America, a government insured FHA loan provider, to discuss the resources available to Suffolk residents suffering from the sub-prime crunch. As a result Horsley highlighted that assistance to Suffolk residents is available through Lend America’s Homeowner Education & Loan Program (H.E.L.P), the Long Island Housing Partnership (LIHP), and Freddie Mac.
Horsley stated, “The greed stemming from Wall Street’s ivory towers has assaulted our suburbs in the form of sub-prime home loans. So today I strongly urge that if you have been deceived by predatory lending practices or your homeownership is endangered that you seek assistance, counseling, and guidance immediately.”
H.E.L.P.
Before the Suffolk County Economic Development Committee Lend America announced a 1-800-FHA-FIXED (342-3493) telephone hotline available to Suffolk residents for financial and mortgage counseling. The Homeowner Education and Loan Protection Program (H.E.L.P) is program to assist borrowers in a challenging mortgage lending environment. H.E.L.P provides a clear understanding of the home ownership process, and offers counseling to promote positive financial behavior. H.E.L.P offers borrowers financial protection, and assistance with mortgage payments should an unexpected financial crisis arise. H.E.L.P. also offers consumer guidance programs recognized by Fannie Mae.
Michael Ashley, Executive Vice-President of Lend America commented, “We are pleased to partner with Suffolk County to offer financial counseling and education services. We are hearing firsthand, through the 1-800-FHA-FIXED telephone hotline, how homeowners are finding themselves overburdened by their mortgage situation and are looking for solutions now.”
Don’t Borrow Trouble
Legislator Horsley also promoted “The Don’t Borrow Trouble Campaign[i]” and its hotline: 1-800-528-8683 sponsored by the LIHP to thwart predatory lending. The Long Island “Don’t Borrow Trouble” campaign was launched on March 1, 2004. It combines an original outreach campaign through churches, civic associations and other community-based organizations with a comprehensive consumer action network of attorneys, lenders, and 24 community agencies across Long Island. The Long Island Housing Partnership answers calls on the hotline and provides counseling and/or legal assistance to callers. Horsley also featured “The Don’t Borrow Trouble Campaign” developed by Freddie Mac and the LIHP on his Blog[ii].
Lend America is a National Mortgage Banking Organization and one of New York’s largest privately owned direct lenders, has served the residential mortgage marketplace for over 20 years. The company is one of the most successful direct to consumer lenders in the United States and is the region’s largest and most well known FHA direct lenders. Lend America employs approximately 650 employees, 80% are Suffolk residents, and is located at 201 Old Country Road, Melville, New York, 11747.
###
[i] For a list of local sponsors click on the link or visit: www.dontborrowtrouble.com
[ii] www.legislatorhorsley.wordpress.com
