HOPE NOW, the industry alliance of mortgage lenders, servicers, investors, and counselors, has announced that its servicer members have agreed to a uniform set of procedures and guidelines that will greatly enhance the ability of homeowners to quickly receive the help they need and ensure that the assistance process is respectful, understandable, and transparent.

The agreement includes;

• the mortgage lending industry’s first-ever guidance for dealing with second mortgages and short sales.
• new guidelines establishing a common, streamlined timetable that will be used by each HOPE NOW mortgage servicer when working with a homeowner to prevent a foreclosure.
• guidelines establishing a common set of principles on the possible foreclosure prevention alternatives including loan modifications, repayment plans, partial claims, and temporarily suspending the need to make monthly payments.
• procedures to keep homeowners informed about the status of their request to their servicer for help.
• encouragement to servicers to provide access to objective, independent, and free counseling for
  homeowners while putting in place detailed procedures that will allow servicers to
  reach out to homeowners who may be in danger of losing their home.

To view a copy of the Press Release in its entirety, please click here.

To view a summary of the Servicer Guidelines, please click here.

To view a copy of the full Servicer Guidelines, please click here.

About Safeguard
Safeguard Properties is the largest privately held field services company in the country. Located in Cleveland, Ohio and founded in 1990 by Robert Klein, Safeguard has grown from a regional preservation company with a few employees and a handful of contractors performing services in the Midwest, to a national company with over 500 employees. Safeguard is supported by a nationwide network of subcontractors able to perform any requested superintendence, preservation, and maintenance functions, as well as numerous ancillary services in the U.S., the Virgin Islands, and Puerto Rico.