HOPE NOW, an alliance created by mortgage lenders to aid troubled borrowers, says that approximately 869,000 mortgage borrowers were helped in the second half of 2007, an increase from the group's earlier estimate. "HOPE Now servicers are working hard to help more and more homeowners who are in difficulty, but we know there is much more to be done," said Faith Schwartz, executive director of HOPE NOW. 14 servicers, which manage more than 33 million home loans, or about 62% of the total servicing market, provided the data used for the estimate. In addition to 545,000 subprime borrowers who were helped with repayment plans or loan modifications, the organization says that 324,000 prime borrowers received assistance.
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