U.S. mortgage group has broad homeowner aid plan

WASHINGTON, June 16 (Reuters) - HOPE NOW, the umbrella group for leading U.S. mortgage firms, on Tuesday will reveal principles aimed at helping helping troubled homeowners avoid foreclosure, it said on Monday.

HOPE NOW was formed in October at the urging of the U.S. Treasury Department. For months, it has issued piecemeal guidelines encouraging mortgage lenders, servicers and investors to take steps that will keep borrowers in their homes.

The guidelines to be released on Tuesday will largely restate many of the principles that have already been agreed to by members of HOPE NOW, according to a draft of the agreement.

The document will encourage mortgage companies to forebear when a loan is delinquent and heading toward foreclosure. (Written by Patrick Rucker; Editing by Dan Grebler)