Salt Lake City, UT / January 18, 2008 / Press Release / --  At a press conference today, Mayor Peter Corroon joins a coalition of private and public organizations headed by Perfect Home Living, Inc., and Freddie Mac (NYSE: FRE), to kick off the "Don't Borrow Trouble®" Salt Lake City, Utah campaign.  This public education campaign is aimed at preventing predatory lending practices and protecting home ownership throughout the state of Utah. 

The coalition urges consumers to call the "Don't Borrow Trouble" help line at 866.217.1718.  The hotline is staffed by trained professionals who can offer free assistance to individuals seeking information about purchasing a home, refinancing, consolidation debt, taking out a home-equity loan and mortgage foreclosure prevention. Individuals can also be referred to appropriate legal or financial experts. 

"Being able to anticipate change before it happens and having the resources to keep pace is what's needed to stop real estate fraud and predatory lending.  The Don't Borrow Trouble campaign is the first line of defense we can provide to consumers against such practices," said Sheri Fitzpatrick, President & CEO of Perfect Home Living INC.  "Today's first-responders to incident reports of predatory lending and real estate fraud are reactive rather than proactive, arriving after the crisis and by then it's too late and often costly as we are witnessing in the sub-prime and prime markets.  Today's marketplace leverage comes at a lightening pace and those charged with educating on such matters have to be committed at working such a pace in order to anticipate tomorrow's trends."

"The Utah Homebuyer Education Coalition is pleased to be apart of this campaign.  Predatory lending practices impact our communities and devastate the lives of victims and their families.  Coalition-affiliated housing counseling agencies work with homeowners who frequently feel the consequences of predatory lending for many years.  Many of these individuals have no idea where to turn for help.  The "Don't Borrow Trouble" Campaign will give them resources to recognize predatory lending practices throughout the state, which benefits everyone," says Kim Datwyler, Executive Director of Neighborhood Nonprofit Housing Corporation in Logan, Utah, and current president of the Utah Homebuyer Education Coalition.

Freddie Mac is the principal sponsor of Don't Borrow Trouble's expansion throughout the United states and has brought the campaign to more than 40 locations across the country.  The "Don't Borrow Trouble" Salt Lake City, UT campaign also uses brochures, radio and television public service announcements and workshops to educate consumers who are the most vulnerable to predatory lending practices, including the elderly, minorities and low-to-moderate-income individuals.  By combining advertising and face to face consumer education and housing counseling, the campaign helps consumers avoid abusive lending practices, such as exorbitant interest rates, excessive fees and pressuring tactics. 

"Predatory lending practices attack the heart of our communities.  These practices can strip away home equity and trap unwary borrowers in a dismal cycle that ultimately replaces homeownership with foreclosure," said Craig Nickerson, Vice President of Expanding Markets for Freddie Mac.  "Don't Borrow Trouble is a proven method to help stop predatory lending, keep families in their homes, build wealth and strengthen communities.  These organizations should be commended for banding together and combining their resources to educate consumers on the perils of predatory lending practices."

Predatory lending practices strip equity away from homeowners by repeatedly refinancing a loan within a short period of time and charging high points and fees with each refinance; packaging a loan with single premium credit insurance products like credit life insurance and not adequately disclosing the inclusion, cost or any additional fees associated with the insurance; or charging excessive rates and fees to a borrower who qualifies for lower rates and fees. 

To view the members of the Don't Borrow Trouble Salt Lake City, Utah campaign please click here.

Don't Borrow Trouble was pioneered in Boston by Mayor Thomas M. Menino and the Massachusetts Community and Banking Council.

Freddie Mac is a stockholder-owned corporation established by Congress in 1970 to support homeownership and rental housing.  Freddie Mac purchases single-family and multi-family residential mortgages and mortgage-related securities, which it finances primarily by issuing mortgage-related securities and debt instruments in the capital markets.  over the years, Freddie Mac has made homeownership possible more than 50 million times, by ensuring the financing for one in six homebuyers and more than four million renters.  For Additional information about Freddie Mac please visit www.FreddieMac.com.

About Perfect Home Living 

Perfect Home Living is a nationally recognized leader that assists in implementing programs and providing training and education to financial lenders , government entities, consumers and licensed professionals to red flags within today's  real estate market.   For more information or to request assistance please visit us online at:  http://www.PerfectHomeLiving.com