Lend America Partners With The Rainy Day Foundation to Support Homeowner Education and Loan Protection Program - H.E.L.P.

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