HOPE NOW Steps Up Foreclosure Mediation Efforts and Military Homeowner Assistance

HOPE NOW has wrapped up two days of high level strategic meetings focused on issues related to military homeowners, as well as those involving foreclosure mediation. HOPE NOW, which has sponsored 120 face-to-face homeowner outreach events since 2008 and has collected data on loan modifications since 2007, is expanding its efforts to reach at-risk military homeowners. Stakeholders representing the mortgage servicing industry, non-profit counselors, investors, regulators and the military met in Washington, D.C. to discuss a comprehensive plan for reaching out to military homeowners facing foreclosure due to Permanent Change of Station (PCS) and other issues. Additionally, a separate group, which included judges, attorneys and several state housing agencies including Maryland, Ohio and Rhode Island, convened during the two days to discuss best practices and standards related to foreclosure mediation. “The current housing crisis has created a separate set of challenges for homeowners in the military," said In order to assist these families, the Housing Policy Council, in response to these challenges, developed several documents, including one that outlines a single point of contact for personal finance managers, housing relocation managers and JAGs as they work together to save homes for families serving our country. These documents have been embraced by various military stakeholders and we are proud to be implementing it across the armed forces,” said Dalton. Faith Schwartz, executive director of HOPE NOW said, “Developing useful foreclosure prevention tools and improving communication between stakeholders is essentially what HOPE NOW has been doing since 2007. We have already held four years of successful borrower events across the country and we are now in a position to expand our outreach efforts beyond our traditional event model."