White House Expands Foreclosure Fix

The Obama administration said on April 28 that it is expanding its foreclosure prevention program to cover second mortgages and to direct more troubled borrowers to the Hope for Homeowners program. Announced in mid-February, the president's $75 billion program calls for adjusting eligible borrowers' loans so monthly payments are no more than 31 percent of pre-tax income. The plan is expected to help up to 9 million avoid foreclosure. More at CNNMoney.com

NeighborWorks America to Distribute $81 Million in Grants to NeighborWorks Network in 2009

At a time when communities need resources most, thousands across the nation will receive a much-needed affordable housing and community development boost as NeighborWorks America distributes more than $81 million in flexible grants to its national network of more than 230 local nonprofit NeighborWorks organizations. The $81 million that will be distributed in 2009 is an increase from the previous year, and reflects the increased need for community development since the financial crisis began to make headlines in 2008. Read the announcement.

NeighborWorks Tackles Growing Foreclosure Crisis in Louisiana

NeighborWorks America’s Southern District office partnered with the Louisiana Foreclosure Prevention and Mitigation Task Force in March to launch a community stabilization road show. These comprehensive meetings were designed to help stabilize communities by ensuring resources are available to homeowners who are behind on their mortgages and in danger of losing their homes. The task force included staff from FDIC, Louisiana Housing Finance Agency, Federal Reserve Bank of Atlanta, Office of the Comptroller of the Currency and Fannie Mae. Between March 17-20, the task force engaged more than 110 community leaders in target cities. Read more about this effort.

R&B Celebrity Mary J. Blige Headlines NeighborWorks America and HOPE NOW Foreclosure Prevention Event

On April 18, NeighborWorks America National Homeownership Programs Director Marietta Rodriguez joined the HOPE NOW alliance for the ‘Bringing Hope Home’ foreclosure prevention campaign, with Grammy Award winning American R&B singer-songwriter Mary J. Blige, while participating in a bus tour of Atlanta, GA. The goal of the foreclosure prevention campaign is to raise awareness of the foreclosure crisis and the free resources available to homeowners in danger of foreclosure. Learn more.

NeighborWorks America Supports Administration Efforts to Combat Foreclosure “Rescue” Scammers and Raise Public Awareness

NeighborWorks America supports and applauds the much-needed crackdown on foreclosure rescue scam artists that was announced April 6 by the Federal Trade Commission (FTC), U.S. Attorney General’s Office, Treasury Department, and Department of Housing and Urban Development. NeighborWorks America is also working with the FTC to develop a national public education campaign to make borrowers aware of how to avoid foreclosure prevention scam artists. Homeowners in danger of foreclosure should never pay for help, and should instead seek assistance from HUD-approved nonprofit housing counseling agencies, including those found at www.findaforeclosurecounselor.org and www.makinghomeaffordable.gov.

See more on this at nw.org.

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