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| Top 10 Tips to Help Avoid Foreclosure and Loan Modification Scams in 2010 |
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At a time when many Americans are considering new resolutions and life changes, staying financially vigilant should remain a priority—especially for homeowners.
During 2010, an estimated 4 million households are expected to face the risk of foreclosure. Millions of homeowners will try to reduce their mortgage payments with a loan modification.
NeighborWorks' national Loan Modification Scam Alert Campaign has put together 10 tips to help homeowners seeking foreclosure prevention assistance this year. Check them out.
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| Actions to Protect Foreclosed Homes From Deteriorating Your Neighborhood |
| Vacant or foreclosed homes can diminish an area's quality. As they deteriorate from neglect, these homes become eye sores that drag down the property value of other homes in the neighborhood. In an article appearing in Yahoo Finance, NeighborWorks America says there's danger in doing nothing. Several measures that individuals and communities can take to stabilize their neighborhoods and protect property values are laid out in this article. |
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| CNN Feature Demonstrates Importance of NeighborWorks Counseling |
According to the IRS, 1.4 million people have taken advantage of the homebuyer tax credit, and Valatisha Jacinto, a Waco, Texas school teacher, was one of them. Jacinto and the credit counseling she received from NeighborWorks Waco were featured in a CNNMoney.com article on how the homebuyer tax credit has helped individuals buy a home.
NeighborWorks America supports the homebuyer tax credit and urges all homebuyers to seek homeownership education from a HUD-approved nonprofit organization — like NeighborWorks Waco — before purchasing a home. Read more about 3 People the Homebuyer Tax Credit Helped.
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| The U.S. Department of Labor Awards NeighborWorks Member $3.8 Million to Provide Green Jobs Training |
| The U.S. Department of Labor has awarded NeighborWorks member Community Housing Partners (CHP) $3.8 million to teach workers the skills required in emerging energy efficiency and renewable energy industries. CHP is based in Christianburg, Virginia. Read CHP’s news release. Read local coverage. |
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| Community Strategies represent the shared experience of NeighborWorks America and its member organizations in various topics of community development and affordable housing. |
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| The
NeighborWorks Training
Institute is dedicated to providing the highest quality training
for community development practitioners. Learn about the latest
classes and symposia on leading-edge topics. |
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| NeighborWorks America COO Eileen Fitzgerald Urges Radio Listeners to Watch Out for Loan Modification Scams |
In an interview with nationally syndicated Home and Family Finance Radio, NeighborWorks America COO Eileen Fitzgerald talked about a growing problem across the country: homeowners facing foreclosure losing their money and their homes to loan modification scams.
She urged homeowners to be cautious about whom they go to for help when facing foreclosure and described some of the warning signs that a scam may be taking place. Fitzgerald directed homeowners to www.loanscamalert.org, the Web site of a national campaign that Congress asked NeighborWorks America to launch to raise awareness of this national problem. She also said homeowners in trouble can find free, trusted help by going to www.findaforeclosurecounselor.org to locate a HUD-approved housing counselor.
Listen to the interview here. It is the first Home and Family Finance podcast listed and the segment starts about 10 minutes into the broadcast. |
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| Join NeighborWorks on Facebook and Twitter |
| If you are on Facebook and Twitter, become a fan or follower of NeighborWorks America and join the conversations taking place everyday. These social media channels are a great way to stay connected with NeighborWorks America and keep up-to-date on issues impacting the housing industry. If you would like to receive our news in real-time the NeighborWorks America Facebook fan page and Twitter channel are great options for you. |
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| NeighborWorks’ Achieving Excellence Program Named Finalist for National Housing Conference “Pioneering Housing Strategies” Award |
NeighborWorks' Achieving Excellence program was named a finalist for the National Housing Conference’s “Pioneering Housing Strategies” award, which acknowledges forward-thinking strategies that are changing the way the industry approaches affordable housing and community development initiatives.
“We are delighted the National Housing Conference has recognized the NeighborWorks Achieving Excellence program. Achieving Excellence is an innovative organizational investment program that transforms the way community development nonprofits do business. As a result, nonprofits are better equipped to increase the availability of quality affordable housing, stem the tide of foreclosures, and revitalize communities,” said Ken Wade, CEO of NeighborWorks America in announcing the award.
NeighborWorks is currently accepting applications from nonprofit leaders for the 2010-2011 Achieving Excellence class. The application deadline is March 15, 2010. Applications, as well as additional program information, are available online at www.nw.org/ae. |
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| NeighborWorks Member Teams Up with US Senator to Launch Largest Solar Water Project in Vermont |
| About 1,000 families in Vermont will benefit from an energy saving solar water project announced on Jan. 13 by Senator Bernie Sanders (I-VT), in cooperation with NeighborWorks chartered member Champlain Housing Trust.
According to Senator Sanders, the $500,000 project is the largest of its kind in the state. The grant, secured from the U.S. Department of Energy, will finance installation of Solar water heaters at four affordable housing developments in Vermont, including Champlain Housing Trust's Salmon Run Apartments. |
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| FHA Announces Policy Changes to Address Risk and Strengthen Finances |
Federal Housing Administration (FHA) Commissioner David Stevens announced a set of policy changes to strengthen the FHA’s capital reserves, while enabling the agency to continue to fulfill its mission to provide access to homeownership for underserved communities. The changes announced are the latest in a series of changes Stevens has enacted in order to better position the FHA to manage its risk while continuing to support the nation’s housing market recovery.
The FHA will propose to take the following steps: increase the mortgage insurance premium (MIP); update the combination of FICO scores and down payments for new borrowers; reduce seller concessions to three percent, from six percent; and implement a series of significant measures aimed at increasing lender enforcement. |
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| HUD Issues Guidance on Providing Early Relief to Struggling Homeowners |
| Homeowners with FHA-insured mortgage loans who are experiencing financial hardship are now eligible for loss mitigation assistance before they fall behind on their mortgage payments. Previously, these homeowners were not eligible for such assistance until after they had missed payments. The Helping Families Save Their Home Act of 2009 signed into law by President Obama expanded FHA’s authority to use its loss mitigation tools to assist FHA borrowers avoid foreclosure to include those facing ”imminent default” as defined by the Secretary. On January 22, FHA issued guidance to FHA-approved loan servicers on how to assist these FHA borrowers. |
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| MetLife Foundation 2010 Community-Police Partnership Awards, Deadline February 26 |
| MetLife Foundation is accepting applications for their 2010 Community-Police Partnership Awards. Applications are due February 26. Two first-place awards of $25,000 each and four runner-up awards of $15,000 will recognize exemplary collaboration between community groups and police that yields crime reduction as well as economic development outcomes, such as real estate development, business attraction and job growth. Eligible applicants include community organizations, community development corporations, police/sheriff's departments, community partnerships, Weed & Seed programs, and collaboratives. Learn more. |
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| Online Registration Deadline Is February 8 for New Orleans Training Institute |
| The NeighborWorks Training Institute will be in New Orleans, LA, March 1-5, 2010, and the online registration deadline is only weeks away. Join us for over 100 courses in neighborhood revitalization and for the Rural Symposium, Investing for Change: Leveraging Assets in Rural Communities and Small Cities. Don't miss the February 8 online registration deadline. |
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Dee Davis Guest Speaker at New Orleans Rural Symposium
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| Dee Davis is the founder of the Center for Rural Strategies. He has helped design and lead national public information campaigns on topics as diverse as commercial television programming and federal banking policy. Join policy makers, practitioners, regulators and funders in New Orleans, LA, March 3, 2010, for the Rural Symposium, Investing for Change: Leveraging Assets in Rural Communities and Small Cities. Don't miss the February 8 online registration deadline. |
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Three New Online E-Courses for Community Stabilization
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| NeighborWorks Training continues to enrich its popular online training with three new online courses focusing on community stabilization. NR231el Stabilizing Neighborhoods in a Post-Foreclosure Environment, AH295el Community Stabilization: An Introduction to REO Acquisition, Rehab, Disposition and Management, and AM121el Fundamentals of Asset Management are now available as e-learning courses you can take at your convenience and without having to take time away from your busy office. See how convenient and beneficial e-learning can be for you. |
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| 'Stuck' Neighborhoods: The Transformation of Neighborhood Housing Markets & the Challenges of Neighborhood Market Recovery |
| Published in December 2009 by the University of Illinois at Chicago, this report presents analysis in two parts. The report focuses on the transformation of neighborhood markets as a result of concentrated subprime lending in three Chicago neighborhoods. A series of case studies presents market-centered or market-building strategies aimed at strengthening neighborhood housing markets. Download 'Stuck' Neighborhoods: The Transformation of Neighborhood Housing Markets and Challenges of Neighborhood Market Recovery. |
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