foreclosure
Posted by CorinneRamey on Nov 09, 2007
Understanding a housing mortgage isn't easy, especially within today's so-called subprime mortgages filled with legalese, deceptive interest rates and dishonest brokers. Having English as a second language doesn't make it any easier. Jeremy Liu and Tad Hirsch, the developers of Speakeasy, are using mobile phones to help non-English speakers fight the subprime mortgage crisis in the United States with an Asian-language specific foreclosure prevention hotline. MobileActive interviewed Liu for more information on this still-developing project.
Liu and Hirsch have developed a hotline that will connect Asian-language speakers faced with foreclosure or subprime mortgages with information in their native languages. Liu said that although similar hotlines exist in Spanish, there is no language-specific hotline for Asian languages. This leads to an information gap for Asian homeowners with subprime mortgages, many of whom don't know where to turn for foreclosure prevention assistance.
