For Immediate Release

April 11, 2005

Contact: Becky Fleischauer, 202-220-2360; bfleischauer@nw.org

 

 

NeighborWorks® America Campaign Strengthens Communities and Empowers Neighbors to Realize the Dream of Homeownership
April 11, 2005
Contact: Becky Fleischauer, (202) 220-2360; bfleischauer@nw.org

 

(Washington, DC) -- To help more neighbors realize the dream of homeownership, seize opportunities to build wealth, and strengthen their communities, Neighborhood Reinvestment Corporation is launching a public awareness and branding campaign: “NeighborWorks America – Transforming Lives and Strengthening Communities.” In doing so, the organization is adopting “NeighborWorks America” as its public name.

CEO Kenneth D. Wade said more awareness of NeighborWorks will remove the mystery of financial services and homeownership to help ensure that no family is overlooked, underserved or overcharged. “We want to create a seismic shift in power and information toward the consumer. An informed buyer is an empowered neighbor whose wealth and contribution to his or her community multiplies.”

Sparked by 1978 legislation, NeighborWorks America created the NeighborWorks network of community development nonprofits charged with closing the homeownership gap among whites and non-whites; improving financial literacy; empowering families to get the most out of the homebuying process; and, using community development strategies to improve safety and build wealth. As a result, the NeighborWorks network has been able to:
• Invest $8.5 billion in America’s communities in the last five years alone;
• Stem a rising tide of foreclosures in numerous communities;
• Help minority families achieve homeownership at four times the rate of conventional lenders;
• Educate and counsel homeowners, reducing mortgage default rates by 30 percent;
• Create the nation’s largest force of certified homeownership education counselors, educating more than 500,000 homebuyers;
• Forge private-sector partnerships that revitalize communities and provide affordable rental housing and development loans; and
• Mobilize hundreds of thousands of volunteers to revitalize neighborhoods.

“Americans turn to trusted local NeighborWorks organizations to make better lives for themselves and their families,” said Wade. “We are raising the flag of a brand – NeighborWorks – that has grown up and flourished across the country. As NeighborWorks America, united with our national network under one name and a singleness of purpose, we will become a more visible and powerful national force for change.”

NeighborWorks America will empower neighbors to maximize their financial position, to become informed homebuyers and savvy homeowners whose home values grow and provide equity. For example, NeighborWorks HomeOwnership Centers® provide one-stop shops for homebuyers looking for unbiased advice, referrals, and financial assistance. NeighborWorks rental housing efforts provide affordable rental housing that offers much more than a roof overhead, with services such as after-school programs, job training, and other valuable assistance.

For a preview of the kinds of services NeighborWorks provides residents, download our Media Kit.

Other NeighborWorks America campaign goals include:
• Tripling the number of certified homeownership educators and counselors by 2007.
• Establishing a national foreclosure prevention center to identify the most common causes of foreclosure and deploy effective prevention and intervention strategies.
• Measuring results with the Success Measures Data System to help answer the question: are we making a difference? This state-of-the-art program can measure dividends, such as changes in safety, property values, levels of civic engagement, and the quality and performance of schools and healthcare, helping us to work smarter in serving the real and present needs in our communities.
• Increasing financial fitness education in underserved markets to build better money-management skills.
• Increasing partnerships with government and the private sector to provide affordable loans, rental housing, and community development that improve job retention and lift local economies.

“The need for NeighborWorks has never been greater,” said Wade. “Federal and state policies are aggressively promoting homeownership, mortgages are becoming increasingly complex and risky, personal debt is rising, and stubborn homeownership and wealth gaps persist. Raising the public consciousness about what NeighborWorks has to offer will help us serve more communities.”

About NeighborWorks America
NeighborWorks America provides financial support, technical assistance and training for communities across the nation, including the NeighborWorks network – a nationwide network of more than 230 community development organizations working in more than 2,700 urban, suburban and rural communities across America. These organizations engage in revitalization strategies that strengthen communities and transform lives. In the last five years alone, NeighborWorks organizations have generated more than $8.5 billion in reinvestment and helped more than 500,000 families of modest means purchase or improve their homes or secure safe, decent rental or mutual housing.