NeighborWorks CEO Ken Wade Emphasizes Importance of Homeownership Counseling on the Tavis Smiley Show

On December 18, NeighborWorks America CEO Ken Wade was interviewed on the Tavis Smiley show, where he emphasized that homeownership is still a good opportunity for many people, including in areas impacted by foreclosure. According to Wade, it appears that those interested in buying are seeking upfront counseling.

"The groups that we work with are seeing record numbers of people coming in to get homebuyer education," Wade said. He added, "We think working with a local community-based organization, a housing counselor, will best position someone to be able to improve their credit if that's an issue, find the right mortgage product for them and put them on the path to successful homeownership."

Check out the interview.

FY 2010 Appropriations Bill for NeighborWorks America Signed

We are pleased to announce that on December 16, 2009, President Obama signed into law H.R. 3288, which provides FY 2010 appropriations for the Departments of Commerce, Defense, Education, Health and Human Services, Housing and Urban Development, Justice, Labor, State, Transportation, the Treasury, and Veterans Affairs, and other agencies – including NeighborWorks America.

NeighborWorks America’s FY 2010 appropriation totals $233 million, and includes:

• A base budget of $133 million


• An additional $65 million to continue the National Foreclosure Mitigation Counseling Program, and


• An additional $35 million for capital grants to rehabilitate or finance the rehabilitation of affordable housing units.

This compares favorably to the FY 2009 appropriation which provided:

• A base budget of 131 million; and


• An Additional $50 million for the National Foreclosure Mitigation Counseling program

Particularly in the midst of the current economic/budgetary environment, the corporation’s FY 2010 appropriation is a real testament to the hard work of NeighborWorks America staff and the staff and boards of local NeighborWorks organizations across the country, making a difference in the lives of the families and communities they serve.

Community Stabilization in Action: New Videos Show Local Efforts to Revitalize Neighborhoods

NeighborWorks America has released three new videos highlighting work being done on the ground by nonprofit organizations to revitalize neighborhoods.

Chelsea Neighborhood Developers, Chelsea, Massachusetts

Over the course of 2009 the City of Chelsea and Chelsea Neighborhood Developers partnered with residents of the Bellingham Hill section of the Shurtleff-Bellingham neighborhood to create a new vision for the area. This video profiles this work and highlights ways Chelsea Neighborhood Developers, the City and residents are working to address the impacts of foreclosure and revitalize the Bellingham Hill neighborhood. View video»

Beyond Housing, St. Louis, Missouri

Beyond Housing, Inc. has worked since 2002 to provide services to thousands of residents in the City of Pagedale in St. Louis County, MO. This video profiles the place-based approach Beyond Housing has taken to stabilize neighborhoods of Pagedale hit hard by the foreclosure crisis. View video»

LaCasa, Inc, Elkhart and Goshen, Indiana

LaCasa, Inc. works in partnership with individuals and community partners to create opportunity for personal growth, family stability and neighborhood improvement. This video profiles the strategies LaCasa, Inc. has used to counter the devastating impact the economic downturn and the rise in foreclosures has had on neighborhoods in Elkhart and Goshen, IN. View video»

The Oprah Magazine Highlights NeighborWorks America’s Foreclosure Help

NeighborWorks America’s foreclosure help was featured in the latest issue of O, The Oprah Magazine, in an article about a divorced mother of two who had fallen behind on her mortgage and other financial obligations after losing her job. In the article, “9 Ways to Get Your Finances Back on Track,” financial columnist Michelle Singletary maps out a financial rescue plan for Tisa McGhee and others who may be in a similar situation.

“I suggested Tisa turn to NeighborWorks America (NW.org), a nonprofit that helps consumers avoid foreclosure, and the agency intervened,” wrote Singletary as she described McGhee’s struggle to rework her mortgage and stay on top of her payments. “If you are having trouble paying your mortgage, you can also contact a free counselor approved by the U.S. Department of Housing and Urban Development (find one through HopeNow.com or at 888-995-4673),” Singletary continued.

Her advice is in line with the message we send to struggling homeowners, who can also locate a counselor near them at http://www.findaforeclosurecounselor.org/.

NeighborWorks America Receives $425,000 Grant from CITI Foundation

NeighborWorks America has received a $425,000 grant from Citi Foundation to enhance the professional capabilities of housing counselors. The grant will be used by the NeighborWorks Center for Homeownership Education and Counseling (NCHEC).

“Citi Foundation’s generous grant strengthens our ability to help nonprofit housing counselors to build the knowledge and skills they need to assist families who are struggling to maintain homeownership during this national housing crisis,” said Ken Wade, CEO of NeighborWorks America.

NCHEC provides homeownership counselors with access to quality tools, materials, best practices and uniform standards designed to help low- to moderate-income clients make informed homeownership decisions. Homeownership counselors play a critical role in helping homeowners develop budgets, accumulate savings and protect their housing investment.

With support from the Citi Foundation, NCHEC will provide training and certification to more than 400 housing counseling practitioners who will reach as many as 40,000 low-to moderate-income individuals with pre- and post-purchase homeownership education and foreclosure intervention counseling.

“As people struggle in this uncertain economy, Citi and Citi Foundation believe that it is essential that financial education and asset building programs deliver results and make a difference in peoples’ lives,” said Daria Sheehan, senior program officer, Citi Foundation. “We are proud to partner with NeighborWorks to provide the training to help practitioners assist low-income individuals in achieving their financial goals.”