Tag Archives: Non-foreclosure solutions

Areas of the country that have been slow to recover from the recession will be the focus of HOPE NOW's outreach efforts to offer loss mitigation options to struggling homeowners in 2015, according to an announcement from HOPE NOW.

The industry provided 147,000 non-foreclosure solutions for distressed homeowners in February compared to 28,000 completed foreclosures for the month, a ratio of more than five to one, according to HOPE NOW.

HOPE NOW announced that from its creation in 2007 until the end of 2014, the mortgage industry has completed more than 23 million non-foreclosure solutions for homeowners, including 7.3 million permanent loan modifications. In January 2015, lenders and servicers offered homeowners another 158,000 non-foreclosure solutions.

HOPE NOW Non-foreclosure solutionsThe gap between non-foreclosure solutions and foreclosures widened even further in November 2014, according to data recently released by HOPE NOW, the voluntary private sector alliance of mortgage sevicers, investors, and non-profit counselors.

The number of U.S. homeowners who received non-foreclosure solutions in the third quarter of 2014 totaled approximately 468,000 despite seeing large year-over-year declines in every category, according to data released this week by the HOPE NOW Alliance.

Approximately 421,000 homeowners used various non-foreclosure solutions from mortgage servicers in the second quarter of 2014, according to recently released Q2 2014 data from HOPE NOW, a private sector alliance between various players in the mortgage industry. The number of non-foreclosure solutions in Q2 was almost quadruple the number of foreclosure sales for the same period (115,000), according to HOPE NOW.