The HOPE NOW Alliance.


HOPE NOW Provides Help Homeowners At Risk of Losing Their Homes

With more and more homeowners faced with the prospect of losing their homes, people are looking for someplace to turn for help. It's easy to understand why homeowners are losing their homes in this market - reasons such as:

  • Higher cost of living
  • Job Loss
  • Increasing medical expenses
  • Higher cost of gasoline
  • Adjustments in Adjustable Rate Mortgage (ARM) mortgage loan rates

The HOPE NOW Alliance is one possible alternative for those who are facing the prospect of losing their home to foreclosure - let's look at an overview of the program to see how it helps homeowners (and lenders as well).

What is the HOPE NOW Alliance?

The HOPE NOW Alliance is a group of lenders, investors, financial counselors and government agencies who were approached to address the growing number of foreclosures in the United States in 2007. In January of 2008, the HOPE NOW Alliance was said to have assisted more than one million homeowners in danger of losing their homes.

How does HOPE NOW Alliance help homeowners?

HOPE NOW works with homeowners to help them renegotiate their mortgages directly with lenders. The lenders who have signed onto the program believe that by working out terms that allow the homeowner to continue making mortgage payments (even at reduced payment amounts) that more people will be able to stay in their homes and avoid foreclosure. Some critics of the program feel that too often these workouts mean more people simply walk away as the workouts may negatively impact the homeowner's equity in their home.

How to I contact the HOPE NOW Alliance?

The HOPE NOW Alliance has a website that is set up for any borrower (or lender) who is interested in learning more about their program or may be in need of the services that are offered through the alliance. The Hope Now mortgage program can help you save your home if you're in danger of losing it to foreclosure.

How much does HOPE NOW Alliance cost me?

The HOPE NOW program does not charge a fee to homeowners. In fact, they discourage homeowners who are in danger of losing their homes to pay fees to agencies for services that claim to help.

Hope Now Mortgage Help
© - kroach

Is my lender obligated to help me?

Some lenders take part in the HOPE NOW Alliance. A list of participating lenders who have agreed to participate is available on the website. There is an agreement between the HOPE NOW Alliance and these lenders to work with customers who are facing foreclosure which includes these points:

  • Communication - Agree to keep the lines of communications open with the homeowner who is having difficulty making home mortgage payments.
  • Reporting - These lenders have agreed to report to HOPE NOW their efforts with homeowners.
  • Loss Mitigation - Each lender who is part of the HOPE NOW Alliance agrees to put forth a loss mitigation process that may include (a) forbearance, (b) deed in lieu of foreclosure, (c) re-modification of loan terms, (d) repayment plans for past due amounts, (e) short sales or (e) partial claims. Each lender creates their own loss mitigation program.

Other terms are inherent to the agreement that mortgage holders make with the HOPE NOW mortgage program. Understanding the terms of the HOPE NOW mortgage program can help you save your home if you're facing foreclosure.


There are options for homeowners who are facing the grim possibility of losing their homes to foreclosure. Don't wait for the letter in the mail - if you feel you are going to encounter problems paying your mortgage for any reason whatsoever contact the HOPE NOW Alliance today and see what you can do to save your home from foreclosure.

Everyone has a different situation but you need not fall victim to high pressure tactics if you understand that there are options available to you. Contacting the HOPE NOW Alliance offers you a way to negotiate with your lender before you are facing foreclosure and help you save your home. With debt counseling, communication with your lender and assistance from the HOPE NOW Alliance you may be able to save your home from foreclosure.

See also: The Bush Bailout Bill

Related topics: HOPE NOW Official Website, HOPE For Homeowners




Site Map | About Us | Legal Disclaimer & Privacy Policy | Related Links | Contact Us
How Much?
Copyright © 2005-2015
100 Dollar Bills © – sx70

Cookies Policy: This site uses cookies from Google to deliver its services, to personalize ads and to analyze traffic. Information about your use of this site is shared with Google. By using this site, you agree to its use of cookies. Learn More