Campaign Targets At-Rise Homeowners

Indianapolis Star (11/20/07)To help struggling mortgage borrowers avoid foreclosure, 300,000 letters will be mailed to homeowners across the country over the next week to inform them of ways to keep their homes. The letter will offer a toll-free number to call to learn about repayment plans, loan modifications and other options to sidestep foreclosure. The HOPE NOW Alliance consists of several mortgage companies and nonprofit housing counselors [editor's note: including the Mortgage Bankers Association], and the Bush Administration supports its efforts to assist homeowners who may be hesitant to confront lenders when payment problems arise.