NeighborWorks Spotlights Seven High-Impact Social Media Trends for Neighborhoods and Local Nonprofits

With all the talk about Facebook, Twitter and online social networks lately, it’s easy to lose sight of the impact of social media on neighborhoods and nonprofit community development efforts.

Here are seven trends worth noting.

NeighborWorks Discusses Foreclosure in Black Communities at Congressional Black Caucus Conference

On September 24, National Initiatives and Applied Research Director Nelson Merced was part of a Congressional Black Caucus panel discussion on the current economic recession that has destabilized rates of black homeownership and the economic fates of many African Americans. The panel examined the current scope of the housing and foreclosure crisis in the black community and implications for homeowners and renters, as well as policy solutions critical to fostering housing and economic security among African Americans. View talking points.

NeighborWorks COO Tells Congressional Committee That Working with Servicers Continues to be a Challenge for Counselors

NeighborWorks America COO Eileen Fitzgerald recently told the Congressional Committee overseeing the Troubled Asset Relief Program (TARP) that while a number of improvements are being made to the Making Home Affordable Program, counselors continue to face difficulty working with servicers.

In testimony before the committee on September 24, Fitzgerald described several factors that continue to limit the success of the program, including difficult and inefficient communications between servicers and counselors, servicers’ disregard for the guidelines of the program, and frustrations with the system as a whole.

Fitzgerald said, for example, that it can take as long as two hours to reach a mortgage servicer. Some homeowners send in documentation, but are asked to do so again. And at times, Fitzgerald said, mortgage servicers are reluctant to disclose the full terms of the new loan. Read AP coverage. View testimony.

Nearly 1.5 Million Take Advantage of the First-Time Homebuyer Tax Credit

With the help of NeighborWorks Green Bay, Lori Guns was one of nearly one-and-a-half million first-time home buyers nationwide who have taken advantage of the $8,000 federal tax credit. It took the Wisconsin resident nearly two years to achieve her dream of homeownership, but on September 22 she was handed the keys to her first home, according to local ABC news affiliate WBAY. The IRS estimates that the first-time homebuyer tax credit program, set to expire in November, has helped nearly 1.5 million people like Guns purchase their first home, and some are calling on Congress to extend the program. Read about and view video of Guns’ success story.

2009’s Most and Least Affordable Housing Markets

Throughout the housing boom and subsequent crash America’s most and least affordable housing markets have remained largely unchanged, according to a recent BusinessWeek report.

In 2009, America’s most affordable housing market was Kokomo, Indiana, and homes in other Midwestern cities remained on top of the affordable housing list. Likewise, most homes sold in pricey East and West Coast metros remain unaffordable for average earners.

But 2009 offers some hope for homeowners, whether they are modest or high-income earners. According to BusinessWeek, buying a home this year hasn’t been this affordable in a generation. Across the board, home prices have plunged, interest rates are at near historic lows and the government is kicking in as much as $8,000 to encourage first-time buyers to purchase a home.

Read more about where to find the nation’s most affordable housing and view these interesting photos of the ranked cities.