In a clear response to the falling real estate market, the federal government called upon the housing and mortgage industry to work together to help homeowners avoid getting caught in foreclosure. “This is not about finger pointing; it is about putting an aggressive plan together and moving forward,” said Treasury Secretary Henry Paulson, Jr. in a speech at Georgetown University Law Center on Oct. 16. The Bush administration, the Department of the Treasury and the Department of Housing and Urban Development saw fragmented programs within the housing industry assisting homeowners at risk of losing their houses. Their call to combine these efforts bred the Hope Now… Read More