Hope Now Calls for Continued Support For Housing Counselors

Faith Schwartz, Executive director of the Hope Now Alliance has called for “continued support” and funding from public-private partnerships to secure free of charge, sustainable, HUD-approved, housing counseling.

Engaging with at-risk homeowners “remains a top priority,” she said. “There is still a great deal that needs to be done, by all stakeholders, before the housing market reaches an acceptable level of stabilization.”

Addressing the “Facing New York State’s Foreclosure Crisis 2012: Developing Effective Responses” conference in Albany, NY organized by NeighborWorks America, the New York State Coalition for Excellence in Homeownership Education and the Empire Justice Center, she argued through numbers the importance of non-profit counseling agencies and Hope’s free homeowner assistance hotline.

Schwartz reiterated that the industry experience of the near past “validates the need for trusted third parties,” that open up the communication between servicers and borrowers.

Over 4.8 million permanent loan modifications given to homeowners since 2007 were made possible in large part due to the efforts and free counseling options provided by Hope Now members, its non profit partners and innovative tools such as the Hope LoanPort website that has helped streamline decision-making for servicers, counselors and homeowners.

Hope Now said this year it has worked with 118 counseling organizations at borrower events counseling over 4,000 homeowners in 12 markets. In 2010 up to 271 organizations counseled 14,700 families at 33 events.

In addition, the Hope Now website expands the outreach opportunity. Over 3,000 counselors from over 600 organizations in all 50 states, DC and Puerto Rico who currently use the HOPE LoanPort web-based solution are connected to over 800 mortgage servicer users that represent approximately 80% of all loans serviced in the country.

Daily Briefing | Wednesday, October 5, 2011

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Article source: http://www.nationalmortgagenews.com/dailybriefing/2010_446/hope-now-support-counselors-1026842-1.html

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