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HOPE NOW Plans to Reach Military Homeowners

""HOPE NOW"":http://www.hopenow.com announced plans to reach out to military homeowners facing foreclosure.

Stakeholders representing the mortgage servicing industry, non-profit counselors, investors, regulators, and military members met in Washington, D.C. to strategize on ways to assist those in the military who are at risk of losing their home due to a permanent change in station and other issues.

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John Dalton, President of the Housing Policy Council and former Secretary of the Navy, attended as a key panelist.

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""The current housing crisis has created a separate set of challenges for homeowners in the military. 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,"" Dalton said. ""These documents have been embraced by various military stakeholders, and we are proud to be implementing it across the armed forces.""

With input from military partners, at least four military bases have been identified for face-to-face outreach, according to a release. HOPE NOW plans to hold the outreaches during the first half of 2012, with the possibility of additional bases before the end of the year.

HOPE NOW has sponsored 120 face-to-face homeowner outreaches since 2008. In addition to discussions on reaching out to military servicemen, the two-day meetings addressed issues with foreclosure mediation such as ways to improve communication between borrowers and servicers.

HOPE NOW is an alliance between counselors, mortgage companies, investors, and other mortgage market participants, according to its website.

About Author: Esther Cho

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