Foreclosure Scam Prevention Day Helps Those In Need

Wednesday, June 9, 2010

Throughout this week, more than 100 organizations all over the country are commemorating National Foreclosure Scam Prevention Week by launching educational campaigns designed to help homeowners protect themselves from becoming a victim of foreclosure scams.

Chattanooga Neighborhood Enterprise (CNE), in partnership with NeighborWorks America and the city of Chattanooga kicked off this national initiative locally on Tuesday with “Foreclosure Scam Prevention Day.” On this day, CNE officials along with more than 25 community volunteers canvassed neighborhoods hardest hit by foreclosure to share tips on ways to detect foreclosure scams. CNE aimed to reach 500 homes during the one-day educational outreach campaign.

“Each day, an average of six Chattanooga homeowners face foreclosure,” said David Johnson, CNE president and CEO. “As the number of homeowners at risk of foreclosures increases, so does the number of foreclosure prevention scams. The CNE foreclosure education outreach campaign is based upon our belief that knowledge is the best defense, which is why we are taking information to homeowners that will equip them with the tools they need to minimize their risk and prevent them from being scammed.”

Nearly 400 Chattanoogans have become victims of foreclosure scams since the beginning of 2010. To ensure that the number of scams decline, CNE will continue its educational outreach beyond “Foreclosure Scam Prevention Day.” Officials will educate the public about the warning signs and the credible resources available in the coming months through advertising, local radio PSAs, and social media activity.

If you or someone you know is in danger of losing your home, contact the Chattanooga Foreclosure Prevention Hotline, a free confidential counseling service provided by CNE, at 423-664-HOME (4663).


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