Hope Now or is it a Scam?

One need only review the cast of characters below to get some insight into who is behind the "free" help out there'

It appears that the same banks and lenders that put you in the toxic loan that has caused you problems, are now posing as Hope Now ”do gooders” by giving millions of dollars to fund this national campaign to help homeowners fix their loans and save their homes.

I certainly don't think that an organization that obtains it’s funding from banks and lenders is truly looking out for the consumers best interests.

These "free" counselors are not interested in identifying predatory lending and mortgage fraud.

They aren't examining their clients loans to see if they are legal and not predatory or fraudulent.

They most definetly do not have the mortgage and legal skills to combat and remedy these predatory lending situations.

My thought is that finding violations and predatory issues with these loans would be biting the hand that feeds them.

So much for the "free" help being provided by The Hope Now Alliance.


Servicers/Lenders/Mortgage Market Participants

Acqura Loan Services
American Home Mortgage Servicing Inc. (formerly Option One)
Assurant, Inc.
Aurora Loan Service
Bank of America
Carrington Mortgage Services
Chase
Citigroup, Inc.
Countrywide Financial Corporation
EMC Mortgage Corporation
Fannie Mae
First Horizon Home Loans and First Tennessee Home Loans
Freddie Mac
GMAC ResCap
Home Loan Services, Inc. (d/b/a First Franklin Loan Services & NationPoint Loan Services)
HomEq Servicing
HSBC Finance

HSBC Consumer Lending
HSBC Consumer Lending II
HSBC Mortgage Services
HSBC Mortgage Corporation

IndyMac Federal Bank
LandAmerica Financial Group, Inc./LoanCare Servicing Center
Litton Loan Servicing
MERS
National City Mortgage Corporation
Nationstar Mortgage, LLC.

Ocwen Loan Servicing, LLC.
PMI Mortgage Insurance Co.
Radian Guaranty Inc.
Saxon Mortgage Services
Select Portfolio Servicing, Inc.
State Farm Insurance Companies
SunTrust Mortgage, Inc.
Washington Mutual, Inc.
Wells Fargo & Company
Wilshire Credit Corporation
Trade Associations

American Bankers Association
American Financial Services Association
American Securitization Forum
Consumer Bankers Association
Consumer Mortgage Coalition
The Financial Services Roundtable
The Housing Policy Council
Mortgage Bankers Association
Securities Industry and Financial Markets Association

If these are the players offering "free" help, I for one recommend watching your wallets and heading for the hills.

Groups Funded By The Hope Now Alliance offering "free" help.

The "Free" Counselors

ACORN Housing Corporation
Catholic Charities USA
Citizens’ Housing and Planning Association, Inc.
Consumer Credit Counseling Service of Atlanta
HomeFree- USA
Homeownership Preservation Foundation
Housing Partnership Network
Mission of Peace
Mississippi Homebuyer Education Center- Initiative
Mon Valley Initiative
Money Management International, Inc.
National Association of Real Estate Brokers- Investment Division, Inc.
National Community Reinvestment Coalition
National Council of La Raza
National Credit Union Foundation
National Foundation for Credit Counseling, Inc.
National Urban League
NeighborWorks America
Neighborhood Assistance Corporation of America
Rural Community Assistance Co.
Structured Employment Economic Development Co.
West Tennessee Legal Services, Inc.


Is it really "free help" or more akin to the YSP & SRP paid to brokers and bankers for locking their clients in at a higher interest rate?

Isn't this akin to when someone sues you and you offer to have your brother-in-law the attorney represent them for "free"?