Hope Now tops 5 million mortgage modifications

11/15/2011 | Housing Wire

Over the past four years, Hope Now members have modified about 5 million mortgages, including 4.11 million proprietary modifications and more than 850,000 loan modifications under the Home Affordable Modification Program. "When Hope Now started reporting data at the end of 2007, loan modifications were barely measurable," said Faith Schwartz, executive director at Hope Now. "Homeowners either paid their mortgages or forfeited their homes. However, over the past four years the housing crisis has taught us to rethink helping distressed homeowners through an unprecedented level of collaboration, funding, manpower and expanded resources." Read the Hope Now news release.

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