HOPE NOW Executive Director Testifies Before Congress

Schwartz emphasizes numbers of ways homeowners have been helped and large numbers of foreclosures prevented WASHINGTON, July 25 /PRNewswire-USNewswire/ -- HOPE NOW Executive Director Faith Schwartz testified today before the House Financial Services Committee regarding the significant progress the mortgage industry has made in foreclosure prevention. Schwartz emphasized the dramatic increase in loan workouts, the alliance's aggressive outreach and communications efforts, and the recent servicer guidelines adopted by all HOPE NOW members, which bring more transparency and clarity to the workout process. Since July 2007, HOPE NOW has helped keep 1.7 million homeowners in their homes and avoid foreclosure. Below is the full text of Schwartz' testimony: Testimony of Faith Schwartz on foreclosure prevention efforts on behalf of... [read full story]