CFPB Launches Foreclosure Prevention Campaign
ReverseMortgageDaily
August 29, 2011
Gerace, Alyssa
The Consumer Financial Protection Bureau (CFPB), which gained authority on July
21, has launched a foreclosure prevention campaign as it seeks to assist
consumers. The campaign's new Web site provides step-by-step guidance to
homeowners at risk of losing their property, lists Department of Housing and
Urban Development-approved counseling agencies, and links reverse mortgage
borrowers to counselors through the HOPE hotline. The effort also involves
encouraging homeowners to call the CFPB if they need assistance or using the
HUD's online list of foreclosure prevention resources. The bureau additionally
is advocating for vigilance when it comes to foreclosure scams -- particularly
those involving older Americans, who are the targets in 41 percent of
foreclosure rescue schemes.
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