HOPE NOW Conference Focused on Military Families, Mediation

HOPE NOW, the voluntary private
sector alliance of mortgage industry stakeholders, recently concluded a two day
conference in Washington which focused on assistance to military homeowners and
foreclosure mediation. 

One group of servicers, investors,
and housing counselors met with regulators, investors, and members of the
military to discuss ways of reaching military families facing foreclosure
because of their unique situation which includes Permanent Change of Station
and other issues. A second group of HOPE NOW stakeholders met with judges,
attorneys, and several state housing agencies to discuss best standards related
to foreclosure mediation.

John Dalton, President of the
Housing Policy Council, former Secretary of the Navy, and a panelist at the
conference said “The current housing crisis has created a separate set of
challenges for homeowners in the military
. In order to assist these families,
the Housing Policy Council,… developed several documents, including one that
outlines a single point of contact for personal finance managers, housing
relocation managers and JAGs (military attorneys) as they work together to save
homes for families serving our country.” 
The documents, he said, will be implemented across the armed forces.

Faith Schwartz, Executive Director,
HOPE NOW said that her organization, in cooperation with the military, has
identified at least four military bases for face to face outreach events during
the first half of the year and additional bases may be added during 2012.  “We look forward to the opportunity to assist
military families and we hope to help solve gaps in the process that will be
addressed through specialized outreach activities and streamlined processes,”
she said. 

Schwartz added, “We are also
encouraged by the efforts of our members to improve the foreclosure mediation
process and create standards that allow for quicker resolutions and better
communication between servicers and homeowners.”

…(read more)

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