HOPE NOW Alliance - An information resource for distressed homeowners in Georgia.

I recently contacted Saxby Chambliss's office [saxby_chambliss@chambliss.senate.gov] asking what steps they are now recommending homeowners in crisis follow in light of recent passed legislation.

Below is their response. Hopefully it will give those who need direction a place to start.

"Recently, hundreds of thousands of homeowners have faced foreclosure on their homes. Several different steps have been taken by the federal government in its attempt to prevent further foreclosures.

I have worked closely with my colleagues in the Senate to form legislation to address this pressing issue. The "Foreclosure Prevention Act," P.L. 110-289, and "Emergency Economic Stabilization Act," P.L. 110-374 both passed the Senate with my support, giving the proper agencies the authority and resources to attack this urgent situation head-on.

As such, the U.S. Treasury, Federal Deposit Insurance Corporation, Federal Housing Finance Agency, various Government Sponsored Enterprises, and the HOPE NOW Alliance have partnered to create a streamlined loan-modification program for those who are facing foreclosure. This new protocol will be a standard for the industry to move homeowners into long-term sustainable mortgages.

As we move forward in the 111th Congress, I will remain supportive of these agencies' hard work and commitment to addressing preventable foreclosures. If you or someone you know is seeking foreclosure assistance, I encourage you to contact the HOPE NOW Alliance at 1-888-995-HOPE (4673) or visit their website at: http://www.hopenow.com/

From the office of Senator Saxby Chambliss

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