Hope Now Program in New York – Short
The program was initiated by the State to help beleaguered homeowners with the support of the Hope Now Alliance that is comprised of mortgage lenders and servicers who are working to amend existing mortgages to prevent foreclosure. As the figures show, there is still a 70% shortcoming in the effectiveness of the program for even with their support, 70% of all homeowners are still 2 months behind their mortgage payments. Homeowners are criticizing the program as being too slow and this time lag results in many still losing homes. Even with the program in place, a 16% of homeowners are still facing foreclosures so homeowners are hoping for a revision of processing procedures that would speed up the process as they hope fight for their homes.
Tags: Homeowner Assistance, Mortgage Assistance, New Hope, New York