NeighborWorks Launches New Foreclosure PSAs

The Advertising Council, in partnership with NeighborWorks America, announced today the launch of new national public service advertisements (PSA) designed to educate homeowners about where they can turn for help if they are at risk of foreclosure. The campaign encourages distressed homeowners to call the Homeowner’s HOPE Hotline, a free resource that helps homeowners facing foreclosure move closer to finding a resolution.

When the campaign was originally launched in 2007, an estimated 1 million homes were at risk of foreclosure. Since then, this number has continued to rise over the years. According to RealtyTrac data, foreclosure filings in the first quarter of 2010 were at almost 1 million properties, a 7 percent increase from the fourth quarter of 2009. Furthermore, this trend is expected to continue throughout this year, with an estimated 4 million homes at imminent risk of foreclosure, affecting homeowners in all communities, of all ethnicities and income levels.

“With an estimated 4 million homeowners at imminent risk of foreclosure this year, there is an urgent need to reach those homeowners and provide them with the information and counseling they need to move forward and make the right decisions,” said Ken Wade, CEO of NeighborWorks America. “It is an increasingly cluttered and confusing marketplace and even though homeowners want to take action, they are unsure of the steps they can take to prevent foreclosure. We are pleased to partner with the Ad Council and Cossette New York on this campaign to provide homeowners with a clear next step – call the HOPE hotline.”

Learn more about this new national campaign in the NeighborWorks newsroom or by visiting the campaign's website at www.foreclosurehelpandhope.org. View the videos on NeighborWorks YouTube Channel.

Frontier Housing Races to Clean Up After the May 2 Flood

Last week’s massive flash floods have caused incredible damage and heartache to residents in areas of Kentucky, Mississippi and Tennessee. In Morehead, Kentucky, staff and volunteers of NeighborWorks member organization Frontier Housing, are still hard at work meeting the immediate needs of their residents at Boodry Place, where the entire first floor structure and contents were damaged or destroyed.

Boodry Place is a residential, rental community where senior citizens and persons with disabilities, including children, live. Thankfully all ten families impacted are safe.

“The important thing is that our residents are all okay. The first floor residents have been safely moved to a shelter and the second and third floor residents are still in place,” said Stacey Epperson, president of Frontier Housing. “We appreciate everyone’s cooperation and patience as we bring every resource available to restoring Boodry Place.”

Residents are now staying in various locations, including with family members, vacant apartments on the second and third floors at Boodry and at a guest house provided by Morehead State University while repairs are underway.

To find out more information, go to http://www.frontierhousing.org/.

Forensic Mortgage Loan Auditing is Latest Scam Targeting Homeowners

The Federal Trade Commission (FTC) has issued a consumer alert about a new twist on mortgage loan modification fraud. According to the nation’s top consumer protection agency, the latest scam to exploit financially strapped homeowners is the “forensic mortgage loan audit.”

The FTC says the fraud works like this: In exchange for an upfront fee of several hundred dollars, so-called forensic loan auditors offer to review the homeowner’s mortgage loan documents to determine whether the lender complied with state and federal mortgage lending laws. If a violation is found, the “auditors” say their findings can be used to avoid foreclosure, accelerate the loan modification process, reduce the loan principal, or even cancel the loan.

Nothing could be further from the truth, according to the FTC and its law enforcement partners. Forensic loan audits don’t help homeowners with loan modification or any other foreclosure relief.

Through the national Loan Modification Scam Alert campaign, NeighborWorks America is working with the FTC and other federal, state and local agencies to help homeowners facing foreclosure to spot loan modification scams, find trusted help and report illegal activity to authorities. NeighborWorks also urges homeowners who need help to go to findaforeclosurecounselor.org or call 1-888-995-HOPE (4673) to get legitimate assistance from a HUD-certified housing counseling agency.

Green Homes Can — and Should — Be Affordable Homes

by Thomas P. Deyo, Deputy Director
Green, National Real Estate & Community Stabilization
NeighborWorks America

How can homes be efficient and healthy while remaining affordable?

“It’s about paying careful attention to the basics — thoughtful design, smart choices and good building,” says The Home Depot Foundation President Kelly Caffarelli, in a really thoughtful article on how families of modest incomes can reap the economic and health benefits of environmentally friendly homes.

I agree, and was pleased to see Community Housing Partners (CHP) — a NeighborWorks member organization in Christianburg, Virginia — cited as a prime example of how nonprofit developers are building green, affordable homes as a matter of practice.

CHP is just one of many organizations in the NeighborWorks network that are bringing green benefits to moderate- and low-income communities through green home design, construction and rehabilitation. In fact, NeighborWorks America and the NeighborWorks network are fully committed to creating or rebuilding healthy, sustainable communities across the country. Visit nw.org/green to see a sample of the award-winning, green developments in the NeighborWorks network.

Cafarelli’s article, Green affordable housing protects pocketbooks, people and the planet, was published in Mother Nature Network’s blog.

Kudos to a Grassroots Effort to Stem Impact of Foreclosures in Detroit

As residents move out of a Detroit neighborhood hard hit by foreclosures, Bill Swanson spends his days trying to persuade businesses to move into vacant commercial spaces. "Shop by shop and block by block, the head of the local business alliance is waging a grassroots fight against crime, blight and neglect." CNN Money

We can't help but applaud this kind of effort.

http://bit.ly/9GVbOH