HOPE NOW to Report on 2008 Efforts; Look Ahead to 2009
HOPE NOW to Report on 2008 Efforts; Look Ahead to 2009
Call With Reporters to Discuss Results, Including November Data on Foreclosure Preventions
HOPE NOW, the private sector alliance of mortgage servicers, counselors, and investors that is working to help prevent foreclosures, will host an on-the-record conference call with reporters at 10:00 a.m. on Monday, December 22, to discuss the results of its work in 2008 and its plans for 2009.
Several high-level industry and HOPE NOW officials, as well as a homeowner who was helped by HOPE NOW and the counselor that assisted her, will be presenting information on the call. Topics that will be covered include outreach efforts, number of foreclosure preventions, and important procedural changes made over the last year. HOPE NOW will also release its November 2008 data on the number of foreclosures prevented that month by the mortgage lending industry.
WHO:
Faith Schwartz, Executive Director, HOPE NOW
Steve Bartlett, President and CEO, Financial Services Roundtable
John Courson, Chief Operating Officer, Mortgage Bankers Association
Colleen Hernandez, President and CEO, Homeownership Preservation Foundation
Homeowner helped by HOPE NOW counseling
Counselor who provided the help
WHAT:
Conference call with reporters to discuss 2008 statistics and results, plans for 2009, and November 2008 Foreclosure Prevention Data
WHEN:
Monday, December 22, 2008
10:00 a.m.
CALL IN #: (888) 893-3793
Conference ID: 78275508
NOTE: The November 2008 data will be released to the media on an embargoed basis at 9:00 a.m.
One-on-one Interviews with Schwartz, Bartlett, Courson, Hernandez and the homeowner and counselor available by request following the call
ABOUT HOPE NOW
HOPE NOW is the alliance of counselors, mortgage market participants, and mortgage servicers that is working to help as many homeowners as possible avoid foreclosure and stay in their homes. For more information, including a full list of members, go to www.hopenow.com
HOPE NOW coordinates a nationwide campaign to reach homeowners who may be at risk of losing their homes. HOPE NOW has already sent almost 3 million letters to homeowners. About 17 percent of homeowners receiving the HOPE NOW-coordinated letters have contacted their servicer, 6 times more than the routine 2-3 percent response rate servicers receive when they send their own mailings.
HOPE NOW has connected thousands of homeowners with their lender and/or a HUD-certified housing counselor at workshops in almost 30 cities. Additional workshops are being scheduled around the country.
In addition, HOPE NOW members have agreed to make substantial additional efforts to contact homeowners whose mortgages will reset in the coming months and to further expedite the process used to determine how best to keep them in their homes.
The Homeownership Preservation Foundation, a HOPE NOW member, operates the Homeowner’s HOPE™ Hotline (888-995-HOPE™), which is available 24 hours a day, 7 days a week, and 365 days a year. The Homeowner’s HOPE™ Hotline receives an average of more than 7,000 calls a day. There is no cost to homeowners for contacting a nonprofit advisor by calling 888-995-HOPE™.
