National and federal resources aid response to the home foreclosure crisis.
Nation's Cities Weekly, February, 2008 by Wallace, Mike
Recent reports reveal that overall foreclosure activity increased by 75 percent in 2007, and last December marked the fifth straight month that more than 200,000 foreclosure filings were reported nationally.
The following are foreclosure mitigation resources that may be beneficial for local elected officials to know.
HOPE NOW
HOPE NOW is a voluntary alliance of housing counselors, mortgage lenders and servicers, investors and other mortgage market participants that are coordinating efforts to reach out and assist homeowners in distress. The alliance, including such large lenders as Wells Fargo Home Mortgage, Countrywide and Bank of America, as well as Fannie Mae and Freddie Mac, was formed by the Department of the Treasury and the Department...
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