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| Is the Foreclosure Crisis the 50-State Katrina? |
| As the foreclosure crisis escalates, more homeowners and renters are finding themselves facing eviction. Communities are littered with vacant and sometimes vandalized properties, pulling down the value of home prices and leaving millions of homeowners underwarter on their mortgages. Newsweek takes a look at how the country's real estate crisis is turning into a national tragedy, comparing it to Hurricane Katrina on a 50-state scale. Read the article, including what experts from NeighborWorks member organizations Centro Campesino in Miami and Neighborhood Housing Services of Greater Cleveland have to say about it. |
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| Underwater Mortgages Hit 11.3 Million |
| Millions of homeowners are underwater on their mortgages — owing more than their homes are worth — according to new research released recently. According to the study conducted by First American CoreLogic and reported by DSNews.com, more than 11.3 million residential properties, or 24 percent of all homes in the U.S. with mortgages, were in negative equity at the end of 2009.
All told, the nation’s homeowners are a combined $801 billion underwater. |
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| Angie's List Magazine Looks at Foreclosure Rescue Scams with NeighborWorks America |
| In an in-depth article looking at mortgage rescue scams and the nationwide effort to stop them, Angie's List Magazine highlights NeighborWorks' Loan Modification Scam Alert Campaign and National Foreclosure Mitigation Counseling program.
Marietta Rodriguez, national director of home ownership and lending at NeighborWorks America offers practical advice on how homeowners can get legitimate help. Amy Klaben, president and chief executive of NeighborWorks member Columbus Housing Partnership also weighs in. |
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| Freddie Mac and Fannie Mae Partner with Nonprofits to Launch Borrower Help Centers |
| Freddie Mac announced earlier this month that it is launching “Borrower Help Centers” in key cities, as well as a “Help Network” nationwide to provide financial counseling to troubled borrowers. The help will include standard mortgage delinquency counseling as well as credit cards, auto loans and other credit problems that can directly affect the borrower’s overall financial health. Fannie Mae has launched a similar effort and opened its first help center in Miami on February 24. NeighborWorks member
Neighborhood Housing Services of South Florida
is participating in that effort. |
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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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| How Housing Nonprofits are Using Social Media |
| A few weeks ago, NeighborWorks asked its Facebook fans how their organizations are using social media to advance their missions, and we found that there's definitely some exciting work underway. NHS of Greater Cleveland's Facebook page, with more than 1,200 fans, is an impressive example of how a local nonprofit, working in neighborhoods hard hit by foreclosures, is using their page to post relevant information on homeownership education, scam prevention, information on purchasing vacant homes, and much more. The Baltimore Homeownership blog offers current, practical advice for residents, like a recent post on dealing with damage to your home after a snowstorm. And NeighborWorks Dakota Home Resources is tapping the philanthropic crowdsourcing trend by participating in Pepsi's refresh project to seek support for their block club in Rapid City, South Dakota. More examples have emerged, which we included in the NeighborWorks news blog. |
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| NeighborWorks Member PathStone to Receive $8 Million for Green Job Training |
| New York-based NeighborWorks member Pathstone will receive an award of $8 million over two years through the U.S. Department of Labor's Green for Gold project to help individuals find jobs within energy efficiency and clean energy sub-sectors. Funding for the Green for Gold project will be provided by the Pathways Out of Poverty Grants Program under the American Recovery and Reinvestment Act and will fund both green job training and evaluation projects. Low income workers will be taught the skills required in high growth industries, including energy efficiency and renewable energy. Read more about it here. |
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| EPA Selects NeighborWorks Organization Project for Sustainable Communities Pilot |
| A public transportation project supported by Codman Square Neighborhood Development Corporation in Massachusetts has gotten support from the Environmental Protection Agency (EPA). The project, known as the Fairmount Line project, has been selected as one of five sustainable communities pilots in the country. The EPA is supporting a pilot program to clean up and redevelop contaminated sites, known as brownfield sites, in coordination with communities' efforts to develop public transportation and affordable housing. |
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| Nonprofits Are Urged to Share Information on Earned Benefits With Their Employees and Clients |
| The federal government took steps in 2009 to significantly expand benefits and supports for the nation’s low-income families, with much of the new assistance coming through the American Recovery and Reinvestment Act. This legislation increased benefits for struggling families, including unemployment insurance coverage, tax credits and assistance programs such as food stamps, child care and housing subsidies. The National Assembly, of which NeighborWorks America is a member, has produced a series of materials and tools to make it easier for nonprofits to share this information, and The Annie E. Casey Foundation has produced an issue brief, Improving Access to Public Benefits to help individuals and families get the income supports they need. |
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| Senate Introduces Bill to Help Unemployed Homeowners and Provide Third Round of NSP Funding |
| Senator Bob Casey of Pennsylvania has introduced the Homeowners' Relief and Neighborhood Stabilization Act of 2010, which provides temporary relief to unemployed homeowners and proposes a third round of the Neighborhood Stabilization Program (NSP3). The bill provides $3 billion to allow homeowners facing a temporary loss in income due to unemployment, underemployment or medical condition to receive low-interest loans for up to 24 months to assist in their monthly mortgage payment. The bill also establishes $1 billion for NSP3 to provide grants to eligible entities to purchase and redevelop foreclosed and abandoned properties.
More information is available at stablecommunities.org. |
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| SAFE Act Comments Due to HUD By March 5, 2010 |
| The Housing and Economic Recovery Act of 2008 included the S.A.F.E Mortgage Licensing Act, a provision that mandates licensing or registration of all mortgage loan originators.
The federal law requires states to pass legislation requiring the licensure of mortgage loan originators according to national standards and the participation of state agencies on the Nationwide Mortgage Licensing System and Registry (MLSR). As a requirement of the legislation, HUD has issued guidance to the states about the minimum requirements they must adhere to in the National Mortgage Licensing System and Registry. Public comment is due March 5. Learn more. |
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| FTC Proposes Rule That Would Bar Mortgage Relief Companies From Charging Up-Front Fees |
| The Federal Trade Commission moved to protect distressed homeowners from the promoters of bogus foreclosure rescue and mortgage modification services by proposing a new rule that would forbid companies to charge up-front for these services. Instead, companies could only collect payment after providing services.
The proposed rule also would bar providers from telling consumers to stop communicating with their lenders or mortgage servicers, and from misleading them about key facts in the loan modification process.
The proposed rules would apply to for-profit companies, but generally exempts entities that own or service mortgage loans. Attorneys would have a limited exemption from the proposed advance fee ban if they represent consumers in a bankruptcy or other legal proceeding.
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| Home Depot Trade Scholarship Program, Deadline April 30, 2010 |
| The Home Depot is offering $1 million in funding for its 2010 Pro Trade Scholarship Program, which supports students attending professional building and construction trade schools. Specifically, $1,000 scholarships will be available to 500 trade school students to help them offset the cost of tuition, books and tools for their chosen trade. Qualifying schools of the scholarship recipients will receive additional funds for classroom tools from The Home Depot Foundation through matching gifts of $1,000 for each scholarship awarded to one or more of their students. Winners will be selected based on a combination of academic performance, leadership and work experience. Scholarship applications will be accepted through April 30, 2010 online at www.homedepot.com/tradescholarship. |
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| The Home Depot Foundation Awards of Excellence in Affordable Housing Built Responsibly, LOI Deadline March 31, 2010 |
| The Home Depot Foundation is accepting applications for its 2010 Awards of Excellence in Affordable Housing Built Responsibly. The Awards program identifies, recognizes and showcases the outstanding and innovative work of nonprofit organizations in the area of design and management of affordable housing.
The Home Depot Foundation is currently soliciting letters of inquiry for the competition from nonprofit organizations whose projects meet the requirements of the program. The deadline for the LOI submittal is March 31, 2010. More information about the award and how to apply can be found at www.homedepotfoundation.org. |
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| Special Symposium Focuses on Role of Volunteerism in Community-Based Nonprofits |
| Volunteerism + Community Development: Building Local Capacity, Sustaining Neighborhood Revitalization will be held at the Phoenix Training Institute May 3-7. This special symposium will explore how community development organizations respond to the call for community service and capture the new momentum of volunteerism. Learn how resident leadership development, engagement of corporate teams, VISTA and AmeriCorps volunteers, youth-run projects and more can increase the impact of community-based nonprofits. Make plans now to attend the symposium at the Phoenix training institute, and register online today! |
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| NeighborWorks Training Institute Returns to Phoenix |
| Mark your calendar now to attend the NeighborWorks Training Institute in the beautiful city of Phoenix, AZ, May 3-7. The Phoenix Training Institute will feature over 90 courses in community development and affordable housing and will feature a special symposium focused on homeownership and rental programs. Attend free afternoon workshops, networking events and nationally recognized courses designed to give you the tools and knowledge you need to do your best every day. Early-bird registration deadline – save $50 when you register online before March 22. |
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| New E-Learning Course for Construction & Production Management |
| CP185el Fundamentals of Green Affordable Housing Development, Rehab and Management is designed to assist local non profits and municipalities to understand the key elements that will provide more energy efficient and healthier homes. This on-line course will cover the basics of "thinking green" for organizations and programs and "building green" as it impacts the development of affordable housing. The course covers the basics of green practices as a response to the larger sustainability concerns, the principles of healthy housing and will provide a framework for more informed decision making, including a focus on the bottom line, on the part of boards, the executive director and other key decision makers in your organization. Register online today. |
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| 'Bringing You Home' Consumer Video Series Available |
| UNHS NeighborWorks HomeOwnership Center in Utica, NY, is producing a 12-part series of educational videos that provide financial and other tips. Two videos offering quick, practical advice to consumers are are currently available —How to Reduce Your Post Holiday Debt and the Do's and Don'ts When Buying a Home. |
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| Center for Housing Policy Releases Report on Shared Equity Homeownership |
| The Center for Housing Policy recently released a report examining shared equity homeownership policies at the state level. The Shared Equity Homeownership State Policy Review, funded by the Ford Foundation and NCB Capital Impact, presents a review of programs and policies across 22 states that either support or hinder the development of shared equity homeownership. It provides an illustrative guide for ways to improve state regulations and practices to better support long-term affordable homeownership and the preservation of homeownership subsidies. |
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