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Foreclosures Destroy
Neighborhoods
Help stop a foreclosure on
your home — Contact us immediately for to
obtain free counseling services. Also, help
is available for homeowners that want to
modify their loan to payment that they can
afford.
Get Help Call 1-888-995-HOPE (4673)
HOPE NOW is an alliance between counselors,
servicers, investors, and other mortgage
market participants to prevent foreclosures
through outreach to delinquent borrowers,
counseling, and loan workouts based on the
borrower’s ability to repay.
Reaching Homeowners in Need:
Direct Mail:
Through a national outreach
letter campaign, servicers are
contacting at-risk borrowers,
encouraging them to either call
their lender or a credit
counselor at the Homeowner’s
HOPE Hotline, 888-995-HOPE.
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Early Contact:
All HOPE NOW lenders are
committed to contacting their
borrowers at least 120 days
prior to the initial rate reset
on an adjustable rate mortgage.
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Ad Council
Campaign: A national Ad Council
campaign urges homeowners in
trouble to call the 888-995-HOPE
hotline because “nothing is
worse than doing nothing.”
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Homeownership Forums: HOPE NOW
is conducting a multi-state tour
of homeownership workshops were
homeowners have the opportunity
to talk to their lender and/or a
HUD-certified housing counselor
about their mortgage. |
Counseling Homeowners in Need:
888-995-HOPE: Free counseling for homeowners
is available at the Homeownership
Preservation Foundation’s Homeowner’s HOPE
Hotline, 888-995-HOPE. When a homeowner
calls the Hotline, they are connected to one
of 450 counselors from one of ten non-profit
counseling agencies who are all HUD-approved
who receives, assesses, counsels, refers,
and connects the borrower to their servicer.
In-person counseling: NeighborWorks® America
and other HUD-approved intermediaries
provide face-to-face counseling to borrowers
in need.
Assisting Homeowners in Need:
Since July 2007, over 1 million homeowners
avoided foreclosure through the efforts of
HOPE NOW members. Increase loan workouts:
HOPE NOW lenders are increasing the number
of modifications, repayment plans, and
refinances every month.
Streamline: Current borrowers with subprime
ARM loans may be eligible for streamlined
modification or refinance as outlined by the
American Securitization Forum.
Project Lifeline: HOPE NOW lenders are
working to reach most at-risk borrowers
(90-day plus delinquent), work with the
borrower, and if appropriate, put a 30-day
“pause” on foreclosures.
Improving communication between servicers
and counselors:
In an effort to assist homeowners more
efficiently and effectively, HOPE NOW
counselors and lenders are working together
to better improve their communication
bridges through standard process models,
data collection, and cross-industry
technology.
Visit website
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