ACORN today announced their plan to help homeowners who have fallen victim to a predatory loan...such as subprime loans.

Those are loans where for the first two or three years, borrowers have an artificially low interest rate. But after that rates often adjust every six months pushing payments as much as 30 percent higher each time.

Many homeowners then can't make their payments, default on their loans and lose their homes:

“We have home-loan counselors,” an ACORN spokesperson said. “They will sit and talk with you about your mortgage, what you can pay, what is reasonable for you to pay and still maintain your other bills, feed your family.

“They will go represent you to the lender and say this is what we have, this is what we can do, will you work with us?”

If you need help while facing foreclosure, call the toll-free national hotline at 1-866-67-ACORN (1-866-672-26766).