Video: Bringing You Home - How to Reduce Your Post Holiday Debt

The video below takes a look at how to reduce your post holiday debt. It is the first in a series of 12 educational videos brought to you by UNHS NeighborWorks HomeOwnership Center in Utica, NY, and sponsored by Adirondack Bank. If you are unable to view the embedded video, view it at http://www.youtube.com/watch?v=jLOwqpVbE0w.

NeighborWorks Recognizes Black History Month by Offering Tips for Long-Term Affordable Homeownership

For more than 30 years NeighborWorks America has strived to help make the dream of affordable homeownership a reality for underserved populations. For some time, however, families were priced out of the market and homeownership was a distant dream. Today there is improved affordability and tremendous opportunity, which makes homeownership an achievable dream for potential buyers who should heed the lessons learned from the housing crisis.

This year, NeighborWorks America recognizes Black History Month by urging African Americans who are interested in becoming homeowners to seek homeownership education at local NeighborWorks organizations to best prepare for making their dreams of long-term homeownership come true.

“Buying a home is a complex financial transaction and homebuyers who begin the process with the right information through homeownership education lay the groundwork for long-term success for themselves, their families, and the community at-large,” said Ken Wade, CEO of NeighborWorks America.

If you are interested in becoming a homeowner but want to know if you are on the right path, Wade offers seven questions that homebuyers should ask themselves so they know whether they are ready for homeownership:

• Do you have a reliable source of income?
• Do you plan on living in your community for 10+ years?
• Are you a saver?
• Do you have minimal debt?
• Do you have a good credit score?
• Do you have at least a five percent down payment saved, along with funding to cover closing costs and moving expenses?
• Are you prepared for the responsibility of maintaining a home after purchase?

“Whether you are ready to buy a home now or you want to prepare for homeownership in a year, two years, or more, homeownership education will put you on the path toward achieving your dream,” said Wade.

Where can homebuyers find homeownership education in their community? NeighborWorks has nearly 100 local HUD-approved nonprofit housing counseling organizations across the country that have trained counselors on-staff, ready to advise families one-on-one and help them make the right homeownership choice for them. To find a local NeighborWorks organization that offers homeownership education in your area, visit www.nw.org/network/nwdata/homeownershipcenter.asp.

Nonprofits Are Urged to Share Information on Earned Benefits With Their Employees and Clients

The federal government took steps in 2009 to significantly expand benefits and supports for the nation’s low-income families, with much of the new assistance coming through the American Recovery and Reinvestment Act. This legislation increased benefits for struggling families, including unemployment insurance coverage, tax credits and assistance programs such as food stamps, child care and housing subsidies.

These investments can make an enormous difference for America’s struggling families, but only if they can gain access to and receive the benefits for which they are eligible.

The National Assembly (of which NeighborWorks America is a member) has produced a series of materials and tools to make it easier for nonprofits to share this information, and The Annie E. Casey Foundation has produced an issue brief, Improving Access to Public Benefits to help individuals and families get the income supports they need.

NeighborWorks Offers Homeowners Energy-Saving Tips for Your Home and Family

As the seasons change, it pays to be more energy efficient, which is why NeighborWorks America is now offering homeowners tips to improve the way your home and family use energy.

From simple tasks like turning out lights not in use and meal planning, to installing ceiling fans and storm doors, NeighborWorks outlines ways your home and your family can become more energy efficient and save money in the long run.

Download the tip sheet.

Actions to Protect Foreclosed Homes From Deteriorating Your Neighborhood

Vacant or foreclosed homes can diminish an area's quality. As they deteriorate from neglect, these homes become eye sores that drag down the property value of other homes in the neighborhood.

In an article appearing in Yahoo Finance, NeighborWorks America says there's danger in doing nothing. Several measures that individuals and communities can take to stabilize their neighborhoods and protect property values are laid out in this article.

Let us know some of the things you or your neighbors are doing to safeguard and invest in your neighborhood. Share your thoughts on our Facebook page.