CFPB Launches Foreclosure Prevention Campaign

August 29, 2011
ReverseMortgageDaily 
consumer financial protection bureau news

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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