Foreclosure Solutions
This month NeighborWorks® America held a national roundtable on foreclosure solutions and continues to make resources available to address the problem. Read briefing.

NeighborWorks member Housing Partnership, Inc. (HP), Riviera Beach, Florida, has received one of four Housing Land Trust Grants for the state of Florida. Pending final reviews, HP will receive $1.3 million in HOME funds to start a community land trust starting with 10 single family units. "We have partnered with another local nonprofit (Adopt a Family) to provide the administrative services for the land trust, and HP will act as the developer and owner of the land," explained Patrick McNamara, HP executive director. "We are looking to buy and rehab six existing, vacant houses and build four new houses on vacant lots in the West Palm Beach/Lake Worth area."

Kalamazoo Neighborhood Housing Services (KNHS), with partner Garden Homes Inc., is building eight new homes as part of a strategy to revitalize a northside neighborhood, reports the Kalamazoo Gazette. KNHS has placed 900 families in homes in Kalamazoo in its 25-year history. Organizers of the latest project are hoping nearby residents will see the new homes and be inspired to fix up, clean up and remodel their homes.

The new homes were financed by various federal, state and local agencies, including a $254,000 grant from the Michigan State Housing Development Authority; $80,500 from the Kalamazoo Community Foundation; and $30,000 from NeighborWorks America. KNHS provides financial literacy classes for families to help them improve their credit ratings. The classes range in duration from two to eight weeks, at the end of which families are matched up with homes that fit their needs and that they can afford. Darnell Clay, one of the new homeowners and father of three children, said: "This is one of the most meaningful things that's ever happened in our lives.''

Kalamazoo Mayor Hannah McKinney called Kalamazoo Neighborhood Housing Services "an absolutely wonderful program... For the past 25 years they have been the little engine that could,'' reports the Kalamazoo Gazette.

Neighbor to Neighbor, a Fort Collins, Colorado, NeighborWorks organization is helping seniors tap the equity in their homes to pay bills, invest, or dole out inheritances before they pass away, reports The Fort Collins Coloradoan. Amy Guy, a mortgage counselor with Neighbor to Neighbor, said reverse mortgages are available to seniors age 62 and older and present a viable option for seniors concerned about being able to stay in their homes and meet their expenses. “The cost of living is certainly going up, and that is a major issue for many seniors,” she said.

Anyone who is interested in a reverse mortgage must receive counseling from an agency approved by HUD, such as Neighbor to Neighbor. Reverse mortgages are federally regulated to guard seniors against predatory lending practices. View article.

Former realtor Skip Petts is well aware of commission motives behind the housing search for would-be homeowners. "When I was in real estate, I couldn't spend time looking for a home if the prospects weren't qualified," says Petts, who now teaches homeownership classes for aspiring owners. "Agents make money when they sell you a home, but do they always have the customer's best interest at heart?" Now he's teaching homeownership classes at Neighborhood Finance Corp., a NeighborWorks organization in Des Moines, Iowa. ''We want to help people buy a home they can afford, and one they can keep,'' says Petts. ''There aren't a lot of places to look for knowledge for the people we help.''

According to NeighborWorks America CEO Ken Wade, only 15 percent of current first-time homebuyers receive adequate counseling and education. View Associated Press article.

NeighborWorks Lincoln has entered into a formal agreement with the City of Lincoln for neighborhood revitalization work in the Antelope Valley Project. The blueprint calls for an integrated series of parks and trails, an aquatic facility, public art, sports courts, and seasonal outdoor ice skating. The City has identified NeighborWorks Lincoln as the "neighborhood champion" and vital partner in assisting the private and public sectors with the revitalization effort.

In her new role as head of Florida's Sarasota County's Community Housing Trust, Martina Guilfoil aims to increase the county's affordable housing stock by 3,000 homes within the next decade. Guilfoil is the former executive director of NeighborWorks member Inglewood Neighborhood Housing Services and served as president of the National NeighborWorks Association. View article.