NeighborWorks NTI Participants and Staff Volunteer in New Orleans

During the NeighborWorks Training Institute in New Orleans last week NeighborWorks staff and conference participants banded together to volunteer in New Orleans’ communities. On Sunday, February 28, one day before the conference kicked off volunteers painted, hang sheet rock and did light demolition on homes targeted for first time homebuyers and the elderly.

The volunteer effort was coordinated with The Preservation Resource Center, one of NeighborWorks America’s local partners, and their Rebuilding Together and Operation Comeback divisions. Rebuilding Together New Orleans helps repair homes for low-income elderly and disabled homeowners and Operation Comeback focuses on buying, repairing and selling blighted property. The volunteer effort demonstrates NeighborWorks America’s continued commitment to Gulf Coast rebuilding partnerships.

“We selected the Preservation Resource Center as our volunteer partner because we’ve been impressed with the work that they have done, as well as many other organizations we’ve partnered with in the area. We can provide dollars and technical assistance and also help do the actual work,” said Don Phoenix, director, NeighborWorks America’s Southern District office, based in Atlanta.

We captured some of the volunteers in action. You can see them here.

NeighborWorks America Recognizes National Consumer Protection Week by Warning Homeowners Against Loan Modification Scams

In conjunction with National Consumer Protection Week (NCPW), March 7-13, NeighborWorks America and its growing coalition of national government agencies, nonprofit organizations and financial institutions are empowering homeowners to combat loan modification scams. The effort is an extension of the organization’s national Loan Modification Scam Alert campaign, designed to help homeowners protect themselves against loan modification scams, find trusted help and report illegal activity to authorities.

NeighborWorks America is an official partner of NCPW, a coordinated consumer education campaign that encourages individuals across the country to take full advantage of their consumer rights.

An estimated 4.5 million Americans are at risk of losing their homes to foreclosure. While many will seek relief in the form of loan modification services, too many will instead become victims of scams.

“Foreclosure rates in America are now at an all-time high and so is the need for help,” said Kenneth D. Wade, chief executive officer of NeighborWorks America. “This National Consumer Protection Week, NeighborWorks is urging community groups and businesses across the nation to join in the effort to educate homeowners about how they can guard against loan modification scams—a fast-spreading epidemic in need of immediate attention.”

Learn more, including the six red flags that indicate you may be dealing with a scammer.

Forty-Nine Community Development Leaders Graduate from NeighborWorks’ Achieving Excellence Program

NeighborWorks America announces the graduation of 49 community development leaders from NeighborWorks America’s prestigious Achieving Excellence in Community Development program offered in association with Harvard University’s John F. Kennedy School of Government.The graduation of the fourth Achieving Excellence class occurred on March 4, during the NeighborWorks Training Institute in New Orleans.

Achieving Excellence is an 18-month educational program for seasoned executive directors and senior level staff in community organizations that have a focus on affordable housing, community revitalization or community economic development. Through this program, graduates specifically addressed one of the most critical challenges facing their organizations, identified and implemented solutions that not only dramatically changed how the organizations do business, but also fostered lasting community change.

Independent evaluations have shown that in just the first Achieving Excellence two classes alone, graduates have collectively achieved the following:

• Total clients served increased by 146 percent collectively;
• More than $12.3 million in new income generated by 23 organizations;
• Average total assets per organization increased by 23 percent, while the average increase attributed directly to Achieving Excellence was $6,860,507 per organization with $96,047,109 in aggregate;
• Affordable housing units developed and managed increased 32 percent and
  22 percent, respectively;
• Approximately 2,500 new affordable rental homes developed, managed or acquired by 18 organizations;
• 89,100 square feet new commercial space created by 7 organizations.

Learn more in the NeighborWorks newsroom.

GO Zone Low Income Housing Tax Credit Program in the Gulf Set to Expire

A recent editorial in the New York Times calls on Congress to extend a tax credit program that’s aimed at encouraging housing development in Gulf Coast states impacted by Hurricanes Katrina and Rita.

The Gulf Opportunity Zone (Go Zone) Low Income Housing Tax Credit program provided Louisiana, Mississippi and Alabama with $300 million in low-income tax credits that can be recouped on affordable housing projects ready for occupancy by the end of this year. Without an extension of the deadline, the Gulf Coast states could lose financing for more than 70 housing developments and 6,000 units of affordable housing.

Enterprise Community Partners, a national nonprofit focusing on community development and affordable housing, is urging its partners and other organizations who are interested to support a Congressional amendment currently being considered in the Senate to extend the tax credit in the Gulf.

The message from Enterprise is here. Read New York Times editorial here.

The Federal Reserve Board Launches Credit Card Web Site to Help Consumers Understand New Rules

The Federal Reserve Board has launched a new interactive Web site to help consumers better understand the new credit card protections that will take effect on February 22. These rules ban several harmful practices and require greater transparency in the disclosure of the terms and conditions of credit card accounts.

The site, which can be found at www.federalreserve.gov/creditcard, summarizes the main provisions of the rules and explains how they will affect credit card users. Two interactive features will allow consumers to learn more about the terms and fees of credit card offers and about the new features of their monthly statements.

"These online tools and resources will help consumers make well-informed decisions about their use of credit," said Federal Reserve Board Governor Elizabeth A. Duke. "We will update the site regularly to provide the most useful and current information."

Read more about it in the Federal Reserve Board's press release. Visit the site.