Posts tagged as:

995 HOPE

Loan Modification Myths and Facts

by Moe Bedard

There are a lot of myths surrounding lenders and servicers as to what they will and will not do during the loan modification process. 
The confusion and inaccurate data that is propagating the internet and the news is based on ill-informed bloggers or journalists who really have no idea what is going on in the loss mitigation arena. This [...]

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Hope Now Reports Record Loan Workouts in April – Moe Says, “It Still is Not Enough!”

by Moe Bedard

Yes, loan modifications and loan workouts are happening and it appears that most lenders and servicers have stepped up to the loss mitigation plate. Or have they?
Hope Now, led by US Treasury Secretary Henry Paulson, has just reported record loan workouts in April.
It is only common sense, that every month we are going to start to [...]

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House representatives argue that new Federal funds are needed to defend homeowners against foreclosure

by Moe Bedard

Amen!
It finally looks like members of our congress finally realize that the Hope Line, AKA 995-Hope, operated by Neighborhood Works, is not a cure all for distressed homeowners.
In fact, many who call the Hope Line are in need of legal assistance. HUD trained counselors who operate these phone lines, do not have the legal savy or mortgage skills to [...]

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Hope Now = Hopeless for Many

by Moe Bedard

I have been saying this from day 1, Hope Now is a joke and if the American people think that these guys “truly” have your best interests at heart, well then, you may be on the street soon with the other 1 million people that have been kicked out of their homes by the very [...]

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Please call 995 Hope if you want to get screwed by your lender, again!

by Moe Bedard

Let’s get one thing clear here, 995 Hope  is funded and supported by mainly banks and lenders. Not consumer rights activists, not Bill Gates and certainly not Warren Buffet.
The very banks and lenders that sold you the toxic loan that has caused you some serious stress and grief, are now posing as Hope Now ”do gooders” by giving millions [...]

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Fannie Mae Will Reimburse Its Servicers for Referrals to HOPE Hotline

by Moe Bedard

As part of its ongoing commitment to support borrowers facing potential foreclosure, Fannie Mae (NYSE: FNM: 34.23, +0.18, +0.52%) will reimburse its servicing partners when they refer homeowners who are behind in their mortgage payments to the HOPE Hotline for counseling.”We have to do everything we can, and early intervention and delinquency counseling are key [...]

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NeighborWorks America to administer a $180 million national mortgage foreclosure mitigation counseling program

by Moe Bedard

FORECLOSURE PREVENTION COUNSELING EFFORTS RECEIVE BOOST FROM
$180 MILLION APPROPRIATION

NeighborWorks® America Selected to Award Grants to Approved Intermediaries
 WASHINGTON, D.C. – Today NeighborWorks America announced that it was named in the FY2008 Consolidated Appropriations Act to administer a $180 million national mortgage foreclosure mitigation counseling program.
Under the legislation, NeighborWorks America (formally the Neighborhood Reinvestment Corporation) will make [...]

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Please do not call 888-995-HOPE for Hope Now, if you are not late on your mortgage

by Moe Bedard

This is from the lips of a nice woman that answered the 888-995-HOPE foreclosure prevention hot line. “If you are not late on your mortgage, there is nothing we can do to help you. You have to be “late” for us to assist you.”
Wow, talk about a mixed and convoluted message to struggling homeowners.
You can’t be late, oh [...]

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Statement by Secretary Henry M. Paulson, Jr. at Press Conference to Announce Framework to Help Preserve Communities by Preventing Foreclosure

by Moe Bedard

December 6, 2007
HP-716
Washington, DC – Good afternoon. Thank you, Secretary Jackson, Chairman Bair, Comptroller Dugan, Governor Kroszner, Director Lockhart, Director Reich and representatives from the American Securitization Forum, HOPE NOW, the Mortgage Bankers Association and the Housing Policy Council for your creativity and flexibility during these recent months. We have worked through an evolving process [...]

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Will Homeowners Have Hope Now?

by Moe Bedard

Today is a great day for “some” homeowners across the country. Many will have Hope Now, but only ”some”, not “all” struggling homeowners will receive mortgage relief.
Our government has spoken and it appears that they are doing what they “can” to asist  borrowers in exploding adjustable rate mortgages. The plan is far from perfect, but it’s a [...]

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Homeowner Gets Help From 995 HOPE

by Moe Bedard

Today, 06:58 AM

luvmyhouse
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Junior Member

 

Join Date: Sep 2007
Posts: 11

Re: Call 1-888-995-HOPE to Stop Foreclosure

I have been trying to get a loan modification with Option One. I sent the application via mail then fax because there was no record of it when it was mailed. After many phone [...]

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995 HOPE

by Moe Bedard

Do NOT Call 888-995-HOPE for help! Read on to learn why.
Read this investigative news piece by CNBC - 
 The government’s flagship 995 Hope program to give struggling homeowners relief from overwhelming mortgage payments has left hundreds if not thousands of callers frustrated by long wait times, lack of follow-up and relatively minor loan modifications that have [...]

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