In addition to the government and several state organizations, an independent alliance has been formed to offer help to struggling homeowners. HOPE NOW is an alliance between mortgage companies, investors and financial counselors whose aim is to reach distressed homeowners and help them find a solution to their mortgage debts.
Keeping Hope Alive
HOPE NOW is comprised of many members from all different aspects of the mortgage industry. This alliance was independently formed at the request of The Department of Treasury and U.S. Department of Housing and Urban Development as a tool for reaching out to more citizens and encouraging lender participation. Their mission is to assist in creating a coordinated plan between homeowners and their lender in efforts to prevent foreclosure and resolve mortgage problems.
One of the most notable contributions of this alliance is the mortgage modification workshops that they conduct around the nation. The non-profit events are held in major cities and offer consumers education and resources for finding mortgage solutions to their distressed properties. They are helping spread the word about the different mortgage debt solutions, federal programs available to help homeowners and tips for negotiating with lenders. While their efforts are much needed in a sinking industry, they are a strictly an informational resource and homeowners are encouraged to seek counsel from a foreclosure attorney before attempting to negotiate debts.