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HUD and VA to provide permanent housing to an estimated 10,000 homeless veterans

National Mortgage Professional
Apr 15, 2008

HOPE NOW testifies on progress and helping homeowners avoid foreclosureMortgagePress.comHOPE NOW, testimony, Faith Schwartz, House Financial Services Subcommittee on Housing and Community Opportunity Faith Schwartz, Executive Director of HOPE NOW, testified on April 16 before the House Financial Services Subcommittee on Housing and Community Opportunity, stressing HOPE NOWs success in achieving real results and its continual efforts to reach out to at-risk borrowers and provide solutions for homeowners so they may avoid foreclosure. She also reiterated results from last weeks HOPE NOW data release which showed that servicers provided nearly 1.2 million loan workouts since July 2007. "HOPE NOW members are working tirelessly to develop new methods and programs to assist at-risk homeowners," said Schwartz. "HOPE NOW has a strategic three-pronged approach to helping troubled homeowners avoid foreclosure which includes reaching out to the borrower, counseling the borrower and partnering with them to help find a realistic solution to avoid foreclosure." In presenting the latest HOPE NOW data results to the subcommittee, Schwartz also mentioned that of the nearly 1.2 million homeowners who received a workout, 48 percent of those were for subprime loans, more than double the 2007 rate. Click here for a full transcript of Schwartz's testimony. For more information, visit
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