News Release

February 25, 2009

Contact: Douglas Robinson, 202-220-2360, drobinson@nw.org
Erin Angell Collins, 202-220-6317, ecollins@nw.org

NeighborWorks Center for Foreclosure Solutions
Receives Donation from Smith Barney

New York, N.Y.—NeighborWorks Center for Foreclosure Solutions announced today it has recently received a donation in the amount of $50,000 from Smith Barney. This contribution was awarded to help support foreclosure intervention and prevention strategies.

The NeighborWorks Center for Foreclosure Solutions (The Center), a major program initiative of NeighborWorks America, was launched in 2005. The Center was created to preserve homeownership in the face of rising foreclosure rates and has four areas of focus:

1. 1. Building the Capacity of local foreclosure efforts
2. 2. Providing Foreclosure Intervention Counseling Training
3. 3. Consumer Outreach & Public Awareness and,
4. 4. Advancing Foreclosure Prevention Research.

 

Kenneth D. Wade, CEO of NeighborWorks America commented, "We are delighted that Smith Barney is supporting the Center’s efforts to help families avoid foreclosure. The Center’s work has already made a difference for thousands of struggling homeowners and the substantial contribution from Smith Barney will enable many more families to find a solution that works best for them.”

Jim Tracy, Director of Citi’s Global Wealth Management Business Development, presented the check recently in New York to Mr. Wade at NeighborWorks.  “We are proud of the donation Smith Barney has made to help NeighborWorks make a difference in local communities," he commented. “Now more than ever it is important to help preserve homeownership in the face of rising foreclosure rates.”

About NeighborWorks America
NeighborWorks America creates opportunities for people to improve their lives and strengthen their communities by providing access to homeownership and to safe and affordable rental housing. In the last five years, NeighborWorks organizations have generated more than $19.5 billion in reinvestment in these communities. NeighborWorks America is the nation’s leading trainer of community development and affordable housing professionals.