Lend America Partners With The Rainy Day Foundation to Support Homeowner Education...

Lend America Partners With The Rainy Day Foundation to Support Homeowner
Education and Loan Protection Program - H.E.L.P.
Pre and post purchase education/counseling assistant to promote responsible
homeownership

MELVILLE, N.Y., May 1 /PRNewswire-USNewswire/ -- Lend America, a leading
privately-owned direct-to-consumer residential mortgage lender with a focus on
originating government-insured loans, announced today that it has partnered
with the Rainy Day Foundation, a non-profit organization, to expand its
mission to educate and counsel borrowers so they can achieve successful,
long-term homeownership and offer financial protection in the case of
unexpected events.
With consumer guidance programs recognized by Fannie Mae, the Homeowner
Education and Loan Protection Program (H.E.L.P) was designed as a proactive,
preventive platform to assist borrowers in today's challenging economic and
mortgage lending environment. H.E.L.P ensures borrowers have a clear
understanding of the home ownership process, while offering counseling to
promote the positive financial behavior, such as savings plans, needed for
long-term homeownership. In addition, H.E.L.P will offer borrowers financial
protection, including assistance with mortgage payments, should an unexpected
financial crisis arise.
Michael Ashley, Chief Business Strategist of Lend America commented, "We
are pleased to partner with the Rainy Day Foundation because their financial
counseling and education services are unrivaled, and are naturally aligned
with Lend America's mission of delivering ongoing education and service to
borrowers. We are hearing firsthand, through our 1-800-FHA-FIXED telephone
hotline, how homeowners are finding themselves overburdened by their mortgage
situation and our looking for real solutions that can help them now."
Highlights of the H.E.L.P. program that select Lend America customer will
receive at no charge are:
-- One-Year Job Loss Protection: If a borrower loses their job (due to no
fault of their own) during the first 12 months after receiving a loan
from Lend America, and is eligible for unemployment benefits, the
borrower could be eligible for up to six months of mortgage payments
(maximum $1,800 per month).
-- Financial Crisis Protection: If, in the first two years of
homeownership with a Lend America mortgage, a borrower faces a
financial crisis that leaves them unable to make mortgage payments, the
borrower may be eligible to have their mortgage payments made on their
behalf while getting back on track.
-- Monthly Newsletter: Borrowers will receive an interactive newsletter
service that informs them on personal finance tips, trends and issues
to better manage their household.
-- Friend/Counselor in the Mortgage Industry: For the first six months, a
counselor will contact the borrower to see how they are adjusting to
life with a new mortgage. The counselor will answer any questions and
provide free advice. After the initial six month period of live
contact, the counselor will be available for another 12 month period to
provide help and answer questions.

Lend America recognizes how essential job loss protection is considering
the current unemployment situation coupled with the rising cost of living.
With fuel, food and oil prices out of control, times like these can especially
make new homeowners weary of their future. With this trend of unemployment,
many people are under extreme pressure to make ends meet, notwithstanding
making their mortgage payments to avoid foreclosure. The U.S. Department of
Labor reported the number of unemployed persons increased by 434,000 to 7.8
million in March, and the unemployment rate rose by 0.3 percentage point to
5.1 percent. Since March 2007, the number of unemployed persons has increased
by 1.1 million.
Rick Delsontro, CEO of the Rainy Day Foundation stated, "Many homeowners
have little understanding of their current and/or future financial obligations
and the first time there is a significant financial setback, there is not
enough savings to keep them from experiencing a financial setback. With a
preventive initiative such as H.E.L.P., borrowers will better understand the
process and financial responsibilities of owning a home and learn the tools to
be better prepared to manage the debt associated with homeownership."
About Lend America
Lend America, a National Mortgage Banking Organization and one of New
York's largest privately owned direct lenders, has proudly served the
residential mortgage marketplace for over 20 years. The company is one of the
most successful direct to consumer lenders in the United States and is the
region's largest and most well known FHA direct lenders. Lend America is also
the originator of successful nationwide broadcast television educational
seminar programs, titled The Mortgage Loan Network. "MLN." Lend America
offers a wide range of home purchase and refinance programs to meet their
clients' individual requirements. Lend America employs approximately 650
employees and is located at 201 Old Country Road, Melville, New York, 11747.
For more information on Lend America, visit www.lendamerica.com
Rainy Day Foundation
The Rainy Day Foundation was established to create and maintain
responsible homeownership. Since the Foundations inception, a major focus was
to provide tools to educate, counsel, support and financially assist
homeowners who experience unforeseen short-term financial problems. Through
the administration of the Rainy Day Program, the Foundation has been able to
provide emergency support, (both educational and financial) to homeowners that
experienced financial challenges. For more information on the Rainy Day
Foundation, visit www.rainydayfoundation.org
SOURCE Lend America

John Lovallo, Public Relations, +1-203-428-3215, jlovallo@soleburycomm.com,
for Lend America; or Mary McPhail, Chief Marketing Officer of Lend America,
+1-631-944-6883, mmcphail@LendAmerica.com