Press Release

Milk Jugs in the Fight to Reduce Foreclosures

Minneapolis - October 17, 2006 -

The Homeownership Preservation Foundation, a Minneapolis-based non-profit has launched a grass-roots marketing effort to help prevent foreclosures in the Detroit area. The Foundation is placing 250,000 ?branded? milk containers in Detroit-area grocery and convenience stores. The gallon containers feature the Foundation?s toll-free 888-995-HOPE number, which homeowners can call for free foreclosure prevention counseling. Detroit currently has the sixth highest rate of foreclosures in the United States.

?Mortgage foreclosure is a nationwide problem that needs to be addressed head on,? said Colleen Hernandez, president and executive director of the Homeownership Preservation Foundation. ?By adding our message to milk jugs, we hope to reach struggling homeowners who are reluctant to call their mortgage lender for help right at their kitchen table.?

By calling 888-995-HOPE, homeowners receive free foreclosure prevention counseling from HUD-approved counseling agencies, 24 hours a day, seven days a week. Established in 2004, the Foundation has provided more than 20,000 counseling sessions to homeowners in all 50 states.

The Homeownership Preservation Foundation is currently conducting a national campaign to help homeowners avoid mortgage foreclosures. The campaign features non-traditional tactics designed to reach the general public, such as a ?Lost? flyer placed in laundry mats and corner telephone poles in cities such as Dallas, St. Louis, Chicago,and Houston. The flyer has tear-aways with the hotline number and offers free foreclosure counseling for homeowners struggling to pay their mortgage and stay in their homes. The campaign also includes television PSA commercials that are currently airing on more than 255 stations across the country and radio PSAs airing on 150 stations.

?We plan to test this marketing effort in Detroit, and hope to expand it to other markets experiencing high rates of foreclosure,? continued Hernandez. ?Detroit is the first of what we hope will be several markets in which we roll out our milk jug campaign. We will continue to use non-traditional methods to spread the word that there?s hope available to homeowners who are worried about losing their home to foreclosure.?

***Footage of Colleen Hernandez speaking about the program as well as still photography and b-roll are available upon request.***

About The Homeownership Preservation Foundation
The Homeownership Preservation Foundation is a Minneapolis-based 501(c)(3) nonprofit dedicated to reducing foreclosures and preserving homeownership for American homeowners. The Foundation was founded in September 2004 with a $20 million seed contribution from GMAC-RFC, a subsidiary of Residential Capital Corporation, one of the nation?s largest real estate finance companies. The Foundation partners with city, county and state governments; federal government agencies; community-based non-profit organizations; and mortgage companies to offer creative solutions to preserve homeownership. For more information about the Homeownership Preservation Foundation, please visit www.hpfonline.org or our homeowner counseling website at www.995HOPE.org.

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