Marietta on CBS News: Unemployment Fueling Foreclosures

NeighborWorks America Homeownership Director Marietta Rodriquez, told CBS Evening News that rising unemployment is leading to more housing foreclosures. She said recent reports from foreclosure counselors indicate that 50 percent of the time job loss is the stated reason for mortgage delinquency.

CBS Evening News video, View

New Consumer Videos for Homeowners and Prospective Buyers Available

These are trying times for homeowners and those thinking about buying may wonder if it’s worth the risk. Three new videos from NeighborWorks America provide homeowners and first-time buyers with useful advice for weathering the current environment. “What to Do When Facing Foreclosure” is for homeowners on the brink of losing their homes. “How to Avoid Foreclosure,” is geared toward homeowners who are making their mortgage payments on time, but want to be proactive in ensuring they keep their homes if hard times hit. “Is This a Good Time to Buy a Home?” is for consumers who want to buy a home for the first time but may not be aware of the strong incentives to do so now. NeighborWorks America’s Senior Homeownership Specialist Milt Sharp provides the advice in these videos, which are all available on NeighborWorks YouTube channel.

Follow NeighborWorks Social Media Symposium Live Online!

We would love for you all to join us in Chicago on August 19 for NeighborWorks' symposium, Social Media and Web 2.0: Engaging Community and Achieving Mission. But if you can't attend, you can still participate and follow the discussion live!

Follow us on Twitter
Social media tools like Twitter allow conference participants to join an online dialogue before, during and after the event. We encourage you to try it! Just follow these simple steps:

1. Sign up for Twitter. It just takes a minute.
2. Follow neighborworks
3. You can text your tweets directly from your mobile phone by going to Devices under Settings and adding your mobile phone.
4. Include the hashtag #nti in your tweets.

Even if you don’t sign up for Twitter, you can still follow the dialogue by going to http://search.twitter.com/ and entering #nti. Using this hashtag will bring up the real time tweets related to the social media symposium.

Live blog
NeighborWorks has enlisted a couple of crafty folks to live blog from some of the symposium sessions. For the first time, those who can not attend the symposium will be able to follow the key highlights and discussion from the event. Just check the Social Media Symposium Blog next Wednesday to follow along.

Why Are Loan Modifications Taking So Long?

As pressure increases on servicers to pick up the pace of loan modifications, many are wondering: What’s the problem?

NeighborWorks America, in its report to Congress on the National Foreclosure Mitigation Program, reported that more homeowners are being reached through counseling, but that servicers are taking as long as 45-60 days to do their part.

CNNMoney.com recently took a look at five reasons why the loan modification process is so slow. Michael van Zalingen, director of homeownership services for Neighborhood Housing Services of Chicago, a NeighborWorks member organization, weighed in on many servicers’ insistence on using a fax machine.

"It seems your stuff goes into a black hole," Zalingen told CNN. "It's archaic. Given all the problems we've had with lost faxes, it seems unreasonable to use a fax system."

See what else is on CNNMoney.com’s list of the “5 dumb reasons you can't get mortgage help.”

Neighbors Helping Neighbors: A Grassroots Group Seeks Small Gifts to End Local Foreclosures

A grassroots organization in Rock County, Wisconsin, has come up with a novel way to fight foreclosures in the area. The organization, called the John Doe Movement, is asking every Rock County homeowner to donate $10 a month to help tackle skyrocketing foreclosure rates and stabilize home values. The “Rescue America Project,” recently featured in the Janesville Gazette, aims to generate $10 million by the end of 2010. The money would be collected by the Beloit-based Stateline Community Foundation and directed to Neighborhood Housing Services in Beloit, Inc., a NeighborWorks America member organization, to help homeowners facing foreclosure modify the terms of their mortgage.