HOPE NOW works “aggressively” to prevent foreclosures

Jonathan Kempner, the president and CEO of the Mortgage Bankers Association, said that he is pleased with the “very impressive, sincere effort” that the United States’ mortgage servicers and HOPE NOW alliance have undertaken over the past year to help America’s troubled homeowners avoid foreclosure. Kempner said that the “numbers speak for themselves” when it comes to the number of families HOPE NOW has been able to help. He explained that the organization has been connecting thousands of homeowners with their lenders, helping “real people find real solutions” to avoid foreclosure and stay in their homes.

Faith Schwartz, the executive director of HOPE NOW, said that HOPE NOW’s numbers in June are the best ever. She said that 181,000 loans have been worked out just in the month of June, while a total of 522,000 loans have been worked out in the second quarter of 2008. Schwartz also said that about 1.9 million foreclosures have been prevented with the help of HOPE NOW.

Schwartz said that she expects this positive trend to continue and expects to help even more homeowners. Schwartz explained that HOPE NOW will continue to reach more at risk homeowners and educate them on the options available to them by continuing to send letters, having workshops, and publicizing the Hope Hotline.

Comments

[Valances]

Even though we are told of instances of foreclosure in terms of statistics, to so many, it's a story of a family member or friend that they know.

I'm not sure who to blame - the owner who could've taken different actions to avoid foreclosure or the banks and government who do such a poor job of keeping homeowners informed with all their small-print info.

It's a spiral where everyone is chasing and blaming someone else. But one thing that we all can agree on in difficult times like this is that it's a downward spiral that is collectively drowning us as a whole nation that once was prosperous and less wounded.