Tag Archives: NeighborWorks America

NeighborWorks America provided more than $100,000 in grants to help bring stabilization back to communities affected by Hurricane Isaac. The grants went to areas in Louisiana and Mississippi.

To learn more about the NeighborWorks America Neighborhood Marketing Program, DS News asked Ascala Sisk, Senior Manager for Community Stabilization at NeighborWorks, a few questions about the effort. The new program is one of many initiatives from the nonprofit to rebuild communities.

NeighborWorks America, a congressionally chartered nonprofit corporation, launched Thursday the NeighborWorks Alliance of Wisconsin, an agreement between six regional housing and community development organizations ""dedicated to improving housing opportunities and building strong communities for all Wisconsin residents.""

InCharge Debt Solutions announced Monday it is teaming up with Wells Fargo, the city of Orlando, and Neighborworks America in a program that will provide down payment assistance grants of up to $15,000 to qualified Orlando home buyers.

NeighborWorks America announced Tuesday that Charles Wehrwein joined the organization as COO.

Through National Foreclosure Mitigation Counseling (NFMC), more than 1.3 million homeowners have received foreclosure prevention counseling by local nonprofits and state housing finance agencies since March 2008, NeighborWorks America announced Monday. So far, the NFMC has also received six appropriations from Congress totaling $619.87 million. According to a report, NFMC clients who had their payments modified saved an average of $176 more per month, and those who received help were nearly twice as likely to obtain a modification.

In accordance with an agreement made with Memphis and Shelby County, Wells Fargo announced Tuesday it is investing $7.5 million into the area as part of new recovery efforts. Under the agreement, Wells Fargo will provide $4.5 million in grants for mortgage down payment and home renovation assistance. The agreement comes after months of negotiations and dismisses a lawsuit filed by Memphis and Shelby County against the bank at the end of 2009. The city and county alleged that Wells Fargo was engaging in discriminatory and deceptive lending practices and had violated the Fair Housing Act.

NeighborWorks America announced $73.8 million in awards for foreclosure counseling efforts this week, which followed HUD's recent revelation of $42 million to support housing counselors. This latest round of funding will go to 32 state agencies, 18 HUD-approved intermediaries, and 86 community-based NeighborWorks organizations to provide counseling to those facing foreclosure. About 190,000 homeowners are expected to receive help. NeighborWorks also expects to train more than 2,000 counselors with what is now the sixth round of its program funding.

Homeowners who receive foreclosure prevention counseling are at least 67 percent more likely to be current on their loans nine months after a loan modification than those who do not, according to NeighborWorks America. Additionally, among homeowners who receive mortgage modifications, those who participate in counseling decrease their monthly payments by $176 more than those who do not. However, NeighborWorks says the reduced redefault rate is more a result of the counseling than the lower monthly payment.

NeighborWorks America announced Tuesday that Sarah McGraw Greenberg has been appointed director of its development division. Greenberg is NeighborWorks' front-line official for fundraising to support the nonprofit organization's work to prevent foreclosure and foster long-term homeownership. As director, Greenberg provides strategic leadership to the corporation's partnership and resource development efforts.