Hope Now Impact in Foreclosure Prevention Grows.

Washington -- In April, mortgage servicers provided loan workouts to about 183,000 homeowners reaching "the highest monthly amount" since the program started in July 2007, according to Hope Now, an alliance of servicers, counselors and investors dedicated to preventing foreclosures.

The Hope Now April report indicates that on an industrywide basis during the month the number of workouts has continuously seen progressive growth. For example, in April it increased by 23,000 compared to March.

"Numbers clearly demonstrate that Hope Now is succeeding at helping homeowners avoid foreclosure and stay in their homes," said Hope Now executive director, Faith Swartz, upon the announcement. "The alliance will continue to do everything possible to reach and help as many as possible."

Since the initiation of Hope Now in 2007, the mortgage industry helped a total of about 1.6 million homeowners avoid foreclosure through loan modifications, repayment plans and other workout options.

In April, of the 183,000 at-risk-of-foreclosure borrowers, about 106,000 of those holding prime and subprime loans went through a repayment plan workout with their servicer, while another 77,000 opted for loan modifications. In the past three months alone, Hope Now said, it has connected 4,000 homeowners with their lenders or HUD-certified housing counselors, through various workshops in 11 cities in ...