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2007-12-07 10:56:00

NeighborWorks America Applauds Effort to Combat Foreclosure

NeighborWorks® America applauds the U.S. Departments of the Treasury and Housing and Urban Development in taking an important step to help countless families around the country avoid foreclosure and sustain homeownership.
 
We support these efforts to help homeowners stay in their homes and preserve our nation’s vibrant communities.
 
There are many ways to assist homeowners facing financial difficulties.  Loan modifications and interest rate freezes for homeowners who are current on their mortgages and will need help once their mortgage interest rates reset is just one way to help reduce the number of foreclosures.
 
Community-based counseling provided by certified counselors continues to be an important resource for homeowners in danger of losing their homes to foreclosure. Counselors assist homeowners to understand their options and the steps they can take to stay in their homes.
 
As the nation’s largest certifier of homeownership counselors, NeighborWorks America has trained over 3,300 foreclosure counselors in the last four years.  In 2008, we expect to train 1,600 foreclosure counselors.
 
Through our NeighborWorks® network of more than 230 independent nonprofit organizations in all 50 states, trained counselors advise families one-on-one and help them make the right homeownership choices for them – whether they are looking to purchase their first home or are in danger of losing their home to foreclosure.
 
We urge homeowners who may be in danger of foreclosure to call the Homeownership Preservation Foundation’s Homeowner’s HOPE Hotline – 1-888-995-HOPE (4673) – or contact a local NeighborWorks® organization for assistance.  To find a NeighborWorks organization near you, visit www.nw.org/network/nwdata/NeighborWorksOrganizations.asp.
 
We look forward to continuing to work with the Hope Now Alliance to identify a range of effective strategies to address the foreclosure crisis.
 
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. To date, we have assisted nearly 850,000 low- to moderate-income families with their housing needs. Much of our success is achieved through our support of the NeighborWorks network ― more than 230 community development organizations working in 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 $12.4 billion in reinvestment in these communities. NeighborWorks America is the nation’s leading trainer of community development and affordable housing professionals. www.nw.org.

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