Ocwen Financial Corp. found trouble in New York last year when a top regulator's investigation revealed that the servicer had sent erroneously dated correspondence to about 7,000 borrowers. Over the weekend, however, Ocwen made positive news in New York when it teamed with Neighborhood Housing Services of New York City to reach out to aid struggling homeowners who were at risk of foreclosure.
Read More »NeighborWorks America’s Board Chooses New CEO
NeighborWorks America announced the appointment of a new president and CEO, naming a longtime leader in the housing and community development field to the role. Effective January 20, Paul Weech will take the reins at the organization, allowing Chuck Wehrwein, current acting president and CEO, to return to his position as COO.
Read More »Foreclosure Prevention Counseling Program Has Helped 1.8 Million Homeowners
Washington, D.C.-based NeighborWorks America, one of the nation's largest community development corporations, announced that more than 1.8 million homeowners have received foreclosure prevention counseling through the association's National Foreclosure Mitigation Counseling Program (NFMC).
Read More »Survey: Americans Say Student Loan Debt Burden Delays Homeownership
A recent survey commissioned by NeighborWorks America, a Washington, D.C.-based non-profit community development corporation, revealed that nearly one out of four Americans knows someone who has delayed buying a home because of student loan debt.
Read More »Study: Foreclosure Prevention Counselors Saving Homeowners Millions
Foreclosure prevention counselors have saved homeowners millions of dollars annually, according to a recent study by the Urban Institute for NeighborWorks America.
Read More »Nonprofits Combine Efforts to Improve Housing Opportunity
The Florida-based nonprofit network NeighborWorks announced the establishment of a new partnership between all 10 of its members. The new group will be a collective effort to increase housing opportunities throughout the state of Florida.
Read More »NeighborWorks America Announces New Acting President, CEO
NeighborWorks America announced that Chuck Wehrwein will serve as acting president and CEO. Wehrwein has been the COO of NeighborWorks America since May 2012.
Read More »Survey Finds a Lack of Savings for Many Americans
Nearly 70 million adults have no emergency savings, while nearly one in four would run out of money in 30 days, according to a new survey put out by NeighborWorks America. The survey found that 22 percent of adults, or roughly 53 million adults, have only enough saved for one month.
Read More »$63.1 Million Awarded to Stave Off Foreclosures
NeighborWorks America announced Tuesday in a press release that $63.1 million had been awarded to 29 state housing finance agencies, 18 HUD-approved housing counseling intermediaries, and 67 community-based NeighborWorks organizations. The money, provided through the National Foreclosure Mitigation Counseling (NFMC) program, is earmarked for counseling to families and individuals facing the threat of foreclosure.
Read More »Unemployment, High Rates Still Obstacles for Many Facing Foreclosure
The National Foreclosure Mitigation Counseling (NFMC) program has provided counseling to almost 1.6 million homeowners across the country since the program started in 2008. According to an NFMC congressional report released this week, common attributes of struggling homeowners include unemployment or underemployment and high mortgage rates. The report also indicates a homeowner who seeks counseling is 97 percent more likely to obtain a loan modification and avoid foreclosure.
Read More »