HCA and Mortgage HOPE Crisis Hotline Success Story

21
August, 2011

JHB candid at HOPE Forum NYSE
This is the story of Yolanda from Compton, California.  We will not use her last name to protect her privacy.
Yolanda is a single African American woman on a fixed income due to disability. Yolanda owed $274,000  in an adjustable rate mortgage with an 11.75% interest rate, paying $3,360 per month. Yolanda was 5 months behind in her mortgage due to her payment increasing facing foreclosure.  The lender offered her a modification, and the initial offer was to bring her loan current and an 11.35% adjustable rate.
Operation HOPE negotiated with the lender and they offered her a 5.5% fixed rate with a payment of $1,655.
Yolanda was extremely happy with her modification, arranged through Operation HOPE, allowing her to remain in her home with an affordable payment.
A small bonus to this story for me -- Compton, California is my hometown.
A special thank you to Jason Yancey and his team at HOPE Coalition America, and the Mortgage HOPE Crisis Hotline.
 

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