MortgageKeeper: Employment Requests High Among Troubled Borrowers

An analysis of 400,000 homeowners in 2009 shows that nearly one in four need access to employment services to help them keep their homes.

MortgageKeeper Referral Services, the developer of a database that connects users with qualified nonprofit and government agencies, found that of the 19 service categories its database offers, homeowners most requested employment assistance. Rounding out the top five were requests for food assistance, help paying utility bills, prescription drug assistance and legal assistance.

‘The results are not surprising, but they point to foreclosure as a symptom of much larger problems in our economy,’ says Rochelle Nawrocki Gorey, president of MortgageKeeper Referral Services. "In almost all cases, something is forcing a family to miss their mortgage payments. If these underlying issues go unaddressed, loan modifications and other aids are only temporary fixes."

MortgageKeeper's database is accessed more than 1,000 times every day, helping more than 30,000 families every month, the company says. It contains more than 4,000 nonprofit and government agencies in 75 metro areas in all 50 states.

Counselors and servicers that subscribe to MortgageKeeper's database can provide homeowners with a list of nonprofit and government agencies. Last month, Ocwen Financial Corp. announced it had signed a multiyear agreement with the company.

SOURCE: MortgageKeeper Referral Services


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