News Release

May 26, 2010

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

NeighborWorks Fights Mortgage Modification Scams with National Effort

Washington, D.C. — NeighborWorks organizations around the U.S. are holding more than 150 events during national NeighborWorks Week (June 5-12, 2010) to inform tens of thousands of homeowners on how to avoid and report mortgage modification scams. The events include hundreds of volunteers canvassing neighborhoods with tip-sheets and flyers, dozens of one-on-one and group workshops about reputable mortgage modification programs, and more. “Many mortgage modification scams are sophisticated, slick and so well crafted that homeowners find it difficult to recognize them for the danger that they are,” said NeighborWorks America CEO Ken Wade. “More than 7,700 mortgage modification scams have been reported to the authorities since our campaign started in October, and we believe that the number of homeowners who have been victimized is significantly greater.” Wade explained that national NeighborWorks Week – a time to celebrate vibrant, healthy and strong communities -- is an ideal time for NeighborWorks organizations, which have worked so hard all year long to build communities and connect neighbors to neighbors, to take this stand. “The events this week will help homeowners learn how to avoid and report mortgage modification scams, which will sustain and protect the dream of homeownership for thousands.  Promoting, preparing and protecting long-term homeownership has been a NeighborWorks Week tradition for 26 years,” said Wade. In addition to mortgage modification scam prevention events nationwide, NeighborWorks organizations also are holding traditional community celebrations and hands-on community building activities, including home repair and painting events, landscaping projects, and mural painting. These efforts, and those of NeighborWorks Week events over the past 26 years, leave positive lasting legacies in participating communities all year round. NeighborWorks Week is one of the country’s largest volunteer programs. In 2009, more than 16,000 volunteers worked to build better and strong communities. News media that are interested in a list of NeighborWorks Week events, or that want to schedule interviews please contact Douglas Robinson at 202-220-2360 or drobinson@nw.org.  Media may also contact Erin Angell Collins at 202-220-6317 or ecollins@nw.org. Those interested in participating in events at their local NeighborsWorks organizations are urged to contact their local organizations for more information about their plans.  To find the NeighborWorks organization near you, visit www.nw.org and click on the NeighborWorks look-up by state. About NeighborWorksAmerica NeighborWorksAmerica creates opportunities for people to improve their lives and strengthen their communities by providing access to homeownership and to safe and affordable rental housing. Since 1991, we have assisted nearly 1.2 million low- to moderate-income families with their housing needs. Much of our success is achieved through our support of the NeighborWorks network ― more than 235 community development organizations working in more than 4,400 urban, suburban and rural communities in all 50 states, the District of Columbia and Puerto Rico. In the last five years, NeighborWorks organizations have generated more than $15 billion in reinvestment in these communities. NeighborWorks America is the nation’s leading trainer of community development and affordable housing professionals.