Press Releases and Media Advisories
HOPE NOW alliance announces "Streamlined Modification Plan"
November 14, 2008, 8:27 am
New help for distressed homeowners comes in the form of a "Streamlined Modification Plan."
Springboard is part of the HOPE NOW alliance, which includes mortgage servicers, investors, other non-profit organizations and counselors. Working with the U.S. Treasury, the Federal Housing Finance Agency, Fannie Mae, Freddie Mac, and a number of major mortgage loan servicers, HOPE NOW has helped develop a new program to help homeowners in trouble stay in their homes.
The new "Streamlined Modification Plan," or SMP, will direct lenders to use an expedited process to modify a mortgage to offer the homeowner more affordable payments.
For more information about the SMP, download this
fact sheet or call HOPE NOW at 888-995-HOPE.
About Springboard Nonprofit Consumer Credit Management
Springboard is a nonprofit credit education and financial counseling organization founded in 1974. The agency offers personal financial education and assistance with money, credit and debt management through confidential counseling. Springboard is accredited by the Council on Accreditation, signifying high standards for agency governance, fiscal integrity, counselor certification and service delivery policies. The agency provides pre-bankruptcy counseling and debtor education as mandated by the bankruptcy reform law. Springboard is a HUD approved housing counseling agency and a member of the National Foundation for Credit Counseling, a national organization of nonprofit credit counseling agencies. The agency has several locations in California and offers face-to-face and nationwide phone counseling services. For more information on Springboard, call 1-800 WISE PLAN (1-800-947-3752) ext. 7750 or visit their web site at www.credit.org.
