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| NeighborWorks Report Cites Job Loss or Reduced Income As Top Reason Homeowners Are Facing Foreclosure |
NeighborWorks America recently announced that more than half (54 percent) of homeowners who received foreclosure counseling through the NFMC Program reported the primary reason they were facing foreclosure was reduced or loss of income.
This finding was reported in NeighborWorks’ November 2009 Congressional report on NFMC Program activity.
Over the course of the NFMC program, which began January 1, 2008, the percentage of homeowners who cited reduced or loss of income as the top reason they were facing foreclosure has steadily increased. Read news release. |
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| NeighborWorks CEO Ken Wade Talks About the Importance of Homeownership Counseling on the Tavis Smiley Show |
| On December 18, NeighborWorks CEO Ken Wade was interviewed on the Tavis Smiley show, where he emphasized that homeownership is still a good opportunity for many people, including in areas impacted by foreclosure. "The groups that we work with are seeing record numbers of people coming in to get homebuyer education." Wade said. He added, "We think working with a local community-based organization, a housing counselor, will best position someone to be able to improve their credit if that's an issue, find the right mortgage product for them and put them on the path to successful homeownership." View the entire interview. |
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| The Oprah Magazine Highlights NeighborWorks America’s Foreclosure Help |
| NeighborWorks America’s foreclosure help was featured in the latest issue of O, The Oprah Magazine, in an article about a divorced mother of two who had fallen behind on her mortgage and other financial obligations after losing her job. In the article, “9 Ways to Get Your Finances Back on Track,” financial columnist Michelle Singletary maps out a financial rescue plan for Tisa McGhee and others who may be in a similar situation. “I suggested Tisa turn to NeighborWorks America (NW.org), a nonprofit that helps consumers avoid foreclosure, and the agency intervened,” wrote Singletary as she described McGhee’s struggle to rework her mortgage and stay on top of her payments.
Read more |
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| Speaking at NeighborWorks Symposium, Federal Reserve Governor Calls for Holistic Approach to Community Stabilization |
| With the downturn in housing affecting communities in a variety of ways, there is no one-size-fits-all strategy to fix deteriorating neighborhoods, said Federal Reserve Governor Elizabeth A Duke at the NeighborWorks Symposium on Community Stabilization held December 9 in Maryland.
She called for holistic approaches to community stabilization that look beyond mortgages and homes. Citing several examples from across the country, including NHS of Chicago's Home Ownership Preservation Initiative, Duke said, “Successful community stabilization requires a broader vision of community, one that factors in the many elements that make a neighborhood a desirable place to live.” Read her speech. |
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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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| New Videos Show Local Nonprofit Efforts to Revitalize Neighborhoods |
| NeighborWorks America has released three new videos highlighting work being done on the ground by nonprofit organizations to revitalize their neighborhoods.
The videos feature Chelsea Neighborhood Developers in Massachusetts; Beyond Housing in Saint Louis, Missouri; and La Casa of Indiana. View videos. |
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| After 35 Years
Bruce Gottschall Steps Down as Executive Director of NHS of Chicago
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| On December 21, Bruce Gottschall, Neighborhood Housing Services (NHS) of Chicago's only executive director, retired. Gottschall has held this position for 35 years, growing the nonprofit from nine staff members to 120 today.
During his tenure, NHS of Chicago, a member of the NeighborWorks network, has helped almost 200,000 people obtain $457 million in loans to purchase or maintain their homes in 19 Chicago neighborhoods. In addition to being among the first nonprofits to underwrite mortgage loans, NHS also began purchasing, rehabbing and reselling vacant buildings.
Mayor Richard Daley said in a statement to the Chicago Tribune that Gottschall and NHS have been "critical partners in our affordable housing and community development programs, particularly with foreclosure prevention and abandoned properties." NeighborWorks America wishes Gottschall the best in his future endeavors. |
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| NeighborWorks America Receives $425,000 Grant from CITI Foundation |
NeighborWorks America has received a $425,000 grant from Citi Foundation to enhance the professional capabilities of housing counselors. The grant will be used by the NeighborWorks Center for Homeownership Education and Counseling (NCHEC).
“Citi Foundation’s generous grant strengthens our ability to help nonprofit housing counselors to build the knowledge and skills they need to assist families who are struggling to maintain homeownership during this national housing crisis,” said Ken Wade, CEO of NeighborWorks America.
NCHEC provides homeownership counselors with access to quality tools, materials, best practices and uniform standards designed to help low- to moderate-income clients make informed homeownership decisions. Homeownership counselors play a critical role in helping homeowners develop budgets, accumulate savings and protect their housing investment. |
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| NeighborWorks Joins Senator Reid and Other Officials at Nevada Event to Stop Foreclosure Fraud |
The state of Nevada has the highest foreclosure rate in the country, making it a prime breeding ground for foreclosure rescue scammers out to take advantage of struggling homeowners. Senator Harry Reid of Nevada joined state and federal officials recently to launch a Stop Foreclosure Fraud campaign, and NeighborWorks America was invited to speak.
“Each day, families are losing their homes or equity and their fair share of the American Dream,” Senator Harry Reid said at the event, which was reported in the Las Vegas Sun . “As foreclosures rise, so do instances of fraud.”
“It’s quite regrettable that such a campaign is necessary,” said Marietta Rodriguez, NeighborWorks America’s deputy director of National Homeownership Programs and Lending. NeighborWorks America launched a similar national campaign in October and is currently traveling the country educating homeowners about loan modification scams.
This Nevada effort is a separate campaign focused solely on the state’s foreclosure problem. Read more. |
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| FY 2010 Appropriations Bill for NeighborWorks America Signed |
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We are pleased to announce that on December 16, 2009, President Obama signed into law H.R. 3288, which provides FY 2010 appropriations for the Departments of Commerce, Defense, Education, Health and Human Services, Housing and Urban Development, Justice, Labor, State, Transportation, the Treasury, and Veterans Affairs, and other agencies – including NeighborWorks America.
NeighborWorks America’s FY 2010 appropriation totals $233 million, and includes:
- A base budget of $133 million
- An additional $65 million to continue the National Foreclosure Mitigation Counseling Program
- An additional $35 million for capital grants to rehabilitate or finance the rehabilitation of affordable housing units
This compares favorably to the FY 2009 appropriation which provided:
- A base budget of 131 million
- An additional $50 million for the National Foreclosure Mitigation Counseling program
Particularly in the midst of the current economic/budgetary environment, the corporation’s FY 2010 appropriation is a real testament to the hard work of NeighborWorks America staff and the staff and boards of local NeighborWorks organizations across the country, making a difference in the lives of the families and communities they serve.
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| Message from FHA Commissioner David Stevens on Changes Affecting FHA |
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On December 17, FHA Commissioner David Stevens issued the first in what is anticipated to be a periodic communication addressing issues or changes affecting FHA. This first announcement addresses:
- Several pending changes in FHA policies
- Proposed changes to FHA’s approval process and oversight of lenders and third party originators
- Information regarding new RESPA rules which take affect on January 1, 2010
Read the message from FHA Commissioner David Stevens.
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| Register Online Now for the New Orleans Training Institute |
| The New Orleans, LA, Training Institute, being held March 1 – 5, 2010, is open for registration. Take part in renowned NeighborWorks neighborhood revitalization training and certification courses, participate in the Rural Symposium and be a “volun-tourist” in NeighborWorks’ rebuilding volunteer activities. Learn more and register online now. Early bird registration ends January 19 — now through January 19 save $50 off registration! |
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| Rural Symposium Returns to NeighborWorks Training Institute |
| Don’t miss the Rural Symposium — Investing for Change: Leveraging Community Assets in Rural and Small Cities, being held at the New Orleans, LA, Training Institute March 3. Actively participate in a day-long event alongside policy makers, practitioners, regulators and funders. The symposium is designed to highlight how the most promising innovations in three sectors — public, private and community-based nonprofit — have seasoned and disciplined community-based channels to quickly and effectively move capital into high value production. More information is available online, where you can also register. |
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| LeadersforCommunities.org Is a Growing and Thriving Community |
| With more than 700 members and over 20 special interest groups, LeadersforCommunities.org is a thriving and growing community offering diverse discussions, resources and networking opportunities for everything from how-to and best practices to keeping in touch with colleagues and the job market. Participate in discussions about recruiting volunteer support. Read and post to blogs about the value and use of online communities and social networking in your organizations. Keep track of what’s happening around the country and in your region and share best practices with your peers. Join the community yourself and see how being a part of LeadersforCommunities.org can help you and your organization. |
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| Loan Modification Scam Alert Holiday Card Available |
| This holiday season, NeighborWorks America encourages your organization to give the gift of information about loan modification scams. A holiday e-card is available on the Loan Modification Scam Alert campaign Web site. Senders can insert their name and distribute it to friends, family, neighbors, and colleagues. Your organization can also add campaign web banners in English or Spanish to your Web site. Visit http://www.LoanScamAlert.org or http://www.AlertaFraudeDeHipoteca.org for more information. |
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| HUD Launches New Resource Web Site for NSP |
| The Neighborhood Stabilization Program (NSP) Resource Exchange is a new Web site launched by HUD for access to the information and resources needed by NSP grantees, subrecipients and developers to purchase, rehabilitate, and resell foreclosed properties. |
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| New Report Examines the Foreclosure Crisis in Rural America |
| While the foreclosure situation in highly affected urban areas has received much attention, there has been a lack of research on foreclosures in rural areas. While the forces commonly linked to the urban crisis such as widespread predatory lending, ballooned housing prices and excessive real estate speculation have affected some rural areas as well, overall the rural crisis is a unique, complex crisis all of its own. Landscapes of Foreclosure: The Foreclosure Crisis in Rural America illustrates through the use of publicly available data, a survey and interviews, that a clear and worsening foreclosure problem exists in America’s rural communities. The author makes the case that the crisis has exacerbated already difficult conditions in rural areas, and, while claims of a recovery begin to arise, in rural America, hopes of a quick recovery remain slim. |
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| New Report Explores Scattered-Site Rental Housing Challenges and Opportunities |
A new report suggests that community development corporations aiming for neighborhood stabilization should consider acquiring foreclosed single-family properties and operating them as scattered-site rental units instead. Nonprofits pursuing such a plan are likely to face challenges. The study addresses the management, financing and political issues associated with developing and operating scattered-site rental housing while providing a foundation upon which CDCs considering such activities can evaluate their capacity and willingness to meet the challenges. Download
Stabilizing Neighborhoods Impacted by Concentrated Foreclosures: Scattered-Site Rental Housing Challenges and Opportunities
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