Wednesday, Sep 28 2011 4:28PM

HOPE Now, a program developed in 2007 to manage foreclosure issues, has successfully modified 4.86 million loans.

During July and August, HOPE Now managed to adjust more than 110,000 proprietary loans. Since 2007, it has modified a total of 4.06 million loans, with an additional 791,399 modifications completed through the Home Affordable Modification Program, an initiative of the Department of Housing and Urban Development and Department of the Treasury.

Faith Schwartz, executive director of HOPE, said that even through fiscal uncertainty in the country, her organization is able to aid millions of homeowners, both financially and informatively.

"HOPE NOW's servicing partners continue to complete permanent loan modifications at a rate consistent with past months - in spite of tremendous negative impact of the continued housing and unemployment crisis," said Schwartz. "In cases where modifications are not possible, the industry is working hard to educate at-risk homeowners about the options available to them."

Despite the homeowner counseling and mortgage modification the nonprofit organization has provided to homeowners nationwide, Schwarz added more can be done to aid those falling behind and struggling to stay current on their home loans.


For further reference, check out this source: HOPE Now