HOPE NOW Conference Focused on Military Families, Mediation

HOPE NOW, the voluntary privaternsector alliance of mortgage industry stakeholders, recently concluded a two dayrnconference in Washington which focused on assistance to military homeowners andrnforeclosure mediation.  </p

One group of servicers, investors,rnand housing counselors met with regulators, investors, and members of thernmilitary to discuss ways of reaching military families facing foreclosurernbecause of their unique situation which includes Permanent Change of Stationrnand other issues. A second group of HOPE NOW stakeholders met with judges,rnattorneys, and several state housing agencies to discuss best standards relatedrnto foreclosure mediation.</p

John Dalton, President of thernHousing Policy Council, former Secretary of the Navy, and a panelist at thernconference said “The current housing crisis has created a separate set ofrnchallenges for homeowners in the military. In order to assist these families,rnthe Housing Policy Council,… developed several documents, including one thatrnoutlines a single point of contact for personal finance managers, housingrnrelocation managers and JAGs (military attorneys) as they work together to savernhomes for families serving our country.” rnThe documents, he said, will be implemented across the armed forces.</p

Faith Schwartz, Executive Director,rnHOPE NOW said that her organization, in cooperation with the military, hasrnidentified at least four military bases for face to face outreach events duringrnthe first half of the year and additional bases may be added during 2012.  “We look forward to the opportunity to assistrnmilitary families and we hope to help solve gaps in the process that will bernaddressed through specialized outreach activities and streamlined processes,”rnshe said.  </p

Schwartz added, “We are alsornencouraged by the efforts of our members to improve the foreclosure mediationrnprocess and create standards that allow for quicker resolutions and betterrncommunication between servicers and homeowners.”

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