Homeownership Preservation Foundation Receives $200,000 from Chase

MINNEAPOLIS, April 11 /PRNewswire/ -- The Homeownership Preservation Foundation has received $200,000 in support from Chase, the consumer brand of JPMorgan Chase & Co. The funding will be used to help sustain the Foundation's efforts in preventing foreclosure in the United States through its national consumer hotline, 888-995-HOPE (4673) -- and its http://www.995hope.org/ website.

"We are pleased to be able to provide the Homeownership Preservation Foundation with additional support," said Donna Sheline, head of Chase's Homeownership Preservation Office, which was created in 2004. "Organizations such as the Foundation can make a difference in helping people keep their homes."

"Chase has been a strong supporter of the Foundation," said Colleen Hernandez, president and executive director of the Homeownership Preservation Foundation. "Their generous support will help the Foundation and its 888-995-HOPE national hotline continue to help thousands of homeowners around the country. In fact, calls to the hotline are up 30 percent in the first quarter of 2007 alone; and we are receiving more than 300 calls a day from homeowners in trouble."

The Homeownership Preservation Foundation along with mortgage lenders, nonprofit organizations and city government agencies, provides homeowners with counseling and resources to help homeowners resolve their mortgage troubles. Homeowners who call the 888-995-HOPE number can receive free advice and counseling from nonprofit, HUD-certified organizations -- 24 hours a day, 7 days a week.

About the Homeownership Preservation Foundation

The Homeownership Preservation Foundation (HPF) is a Minneapolis-based 501(c)(3) nonprofit dedicated to reducing foreclosures and preserving homeownership for American homeowners. The Foundation was formed in September 2004 with a $20 million seed contribution from GMAC ResCap (Residential Capital, LLC), 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 http://www.hpfonline.org/.

About Chase

Chase is the U.S. consumer and commercial banking brand of JPMorgan Chase & Co. . Chase has 154 million credit cards issued and serves consumers and small businesses through more than 3,000 bank branches, 8,500 ATMs and 280 mortgage offices as well as through relationships with 15,000 auto dealerships and 4,300 schools and universities. It also serves more than 30,000 commercial banking clients, including corporations, municipalities, financial institutions and not-for-profit entities. More information about Chase is available at http://www.chase.com/.