Hope Now, an alliance of mortgage servicers, investors, mortgage insurers and nonprofits, just completed a two-day brainstorming session on how to offer additional support to U.S. military members facing foreclosure.
The comprehensive plan discussed by attendees honed in on avenues attorneys, servicers, nonprofits and military attorneys can take when aiding members of the armed services facing foreclosure and permanent changes in station.
The two-day initiative also was attended by judges, attorneys and state housing agencies who met to discuss best practices in foreclosure mediation.
Representatives from the Housing Policy Council noted that the group created documents and a single point of contact for finance managers and military attorneys to use when helping members of the armed services who are at-risk of losing their homes to foreclosure.
Hope Now will be holding outreach events at four military bases in the first half of 2012 to meet with military families face-to-face.
The Consumer Financial Protection Bureau also is launching initiatives to help members of the U.S. military. The CFPB, Department of Defense, the New York Attorney General and the Federal Trade Commission launched a database earlier this month that will record information on companies and individuals who scam military members.
The database will let enforcement authorities track parties who have already defrauded members of the armed services to ensure repeat offenses are eliminated.
kpanchuk@housingwire.com
