January 01 2010
Operation HOPE Launches Mortgage HOPE Crisis Hotline and HOPE Consumer Credit Crisis Hotline at New Regional Offices in Downtown Atlanta
empowerment to America’s Southeastern Region
ATLANTA, GA -- August 3, 2010 –In response to the ongoing financial struggles of middle- and low-income Americans, John Hope Bryant, Founder, Chairman and Chief Executive Officer of the economic empowerment nonprofit Operation HOPE (HOPE) announced the regional launch of the Mortgage HOPE Crisis Hotline and the HOPE Consumer Credit Crisis Hotline in the Atlanta area. The toll-free hotline at 888-388 HOPE (4673) provides free financial counseling to those faced with mortgage and credit challenges.
“With the unemployment rates not getting any better, the effects of the sub-prime mortgage crisis not yet behind us and credit card interest rates soaring, the next financial crisis to hit this nation will be dealing with budgeting, credit and credit cards,” said Bryant, the business bestselling author of LOVE LEADERSHIP: The New Way to Lead in a Fear-Based World.
According to Federal Reserve estimates, the total outstanding credit card debt carried by Americans surpassed a record $960 billion in 2009 and is increasing quickly as more people rely on credit cards to help them survive. What’s worse is that credit card defaults are estimated to be well over 10 percent.
The toll-free hotlines provide free support in the areas of consumer credit and mortgages. The Mortgage HOPE Crisis Hotline staff is certified in foreclosure intervention and default counseling and the HOPE Consumer Credit Crisis Hotline staff members are certified personal finance counselors. Counselors for the hotlines are experienced and trained to provide guidance on a variety of different financial topics including negotiating with your lender, applying for loan modifications, avoiding foreclosure, restructuring your existing debt and obligations, negotiating with your creditor and credit, debt and budgeting support. The Mortgage HOPE Crisis Hotline has already received 100,000 calls and assisted in over $360 million in modified loans.
Operation HOPE has had a presence in the Southeastern Region since 2004. Through their youth financial literacy educational program Banking on Our Future, HOPE has educated over 20,000 students in Atlanta area public schools in the “language of money” involving over 1250 HOPE Corps volunteers. In addition, HOPE Coalition America has provided emergency and disaster recovery support to the region, helping 130,000 survivors of Hurricane Katrina as well as victims from Hurricanes Ike, Gustav and the Georgia Floods of 2009.
The regional launch of the hotlines coincided with a ribbon cutting and open house reception at Operation HOPE’s regional offices at Peachtree Tower, 191 Peachtree Street, suite 4000 in Atlanta.
About Operation HOPE, Inc.
Since its founding in 1992, Operation HOPE's mission has been to promote "silver rights" and make free enterprise and capitalism work for the underserved. The social investment banking nonprofit has provided financial literacy and economic empowerment services to more than 1.2 million people, raised more than $500 million and helped to restructure more than $360 million in sub-prime mortgages from the private sector, for a total of approximately $900 million in economic activity for the disenfranchised. Follow Operation HOPE at www.operationhope.org, www.twitter.com/operationhope, and www.facebook.com/operationhope.