CandleFocus

Hope Now Alliance

Candlefocus Editor

Hope Now Alliance was a coalition of counseling agencies, investors and mortgage services formed in 2007 to help homeowners nationwide avert foreclosure. The mission of the organization was to identify and offer resources to distressed homeowners, as well as to provide advocacy for higher lending standards and improved industry practices. At its peak, it had more than 400 members, including some of the nation’s largest lenders, lenders, loan servicers, insurance companies, investors and non-profit organizations.

Hope Now Alliance offered a wide range of resources for struggling homeowners, including mortgage counseling, unemployment benefits and money management advice. The organization also worked to create more rehab loan options for distressed homeowners with no equity in their homes who otherwise would not qualify for traditional refinancing.

In addition to its members, Hope Now Alliance also partnered with major organizations, such as the Department of Housing and Urban Development (HUD), the Homeownership Preservation Foundation (Help Now), and the Administration of Affordable Housing. The alliance also worked with state and local government offices to ensure homeowners had access to counseling and resources to help them avoid foreclosure.

The organization experienced a period of declines in 2020, when the global pandemic caused many homeowners to postpone payments, put them at risk of foreclosure, created uncertainty in type of assistance available and reduced the ability of the organization to provide capital aid. As a result, Hope Now Alliance eventually decided to cease operations in 2020 and discarded the company name/brand.

Hope Now Alliance had an important role to play in helping hundreds of thousands of struggling homeowners across the country, providing access to resources and counseling to many distressed families in need of assistance. Although the organization is no longer in official operation, its members and partners continue to strive for more ethical lending practices, higher standards and better industry practices.

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