Thursday, February 26, 2009

February NeighborWorks Alert

NeighborWorks America Applauds the Obama Administration’s Efforts to Combat Foreclosure

In just over one month since taking office, President Barack Obama has taken significant steps to address the economic crisis. On February 17, he signed into law the American Recovery and Reinvestment Act and one day later announced his Homeowner Affordability and Stability Plan. He also reaffirmed his administration's commitment to taking on the banking and foreclosure crises in his Address to a Joint Session of Congress on February 25.

NeighborWorks America applauds these efforts, which take important steps to get ahead of future foreclosures and provide substantial funding for initiatives including homeownership, low-income housing, affordable housing, energy efficiency improvements and the Neighborhood Stabilization Program. View more information:

News Release: NeighborWorks America Applauds the Obama Administration's Efforts to Combat Foreclosure

NeighborWorks Summary: President Obama's Homeowner Affordability and Stability Plan (Watch this page for more details on the plan, after they are announced March 4.)

NeighborWorks Analysis: Housing Provisions in the American Recovery and Reinvestment Act

NeighborWorks Highlights: President Obama Addresses Joint Session of Congress

Also in this Issue


Public Sector Alert:

Funding Opportunities


Treasury Department Touts Expanded Tax Credit for First-Time Homebuyers

In an ongoing effort to deliver on swift implementation of the Obama Administration's recovery, stability and affordability plans, the U.S. Department of the Treasury touted today the availability of an expanded tax break for first-time homebuyers — a provision under the American Recovery and Reinvestment Act of 2009 that will make up to $8,000 available now to qualifying taxpayers who buy homes this year. Read Treasury Department press release. See also NeighborWorks America's First-Time Home Buyer Tax Credit Quick Reference Guide.

HUD Allocates More Than $10 Billion of Recovery Act Funding

The U.S. Department of Housing and Urban Development (HUD) on February 25 allocated nearly 75 percent of its funding, or $10.1 billion, made available through the American Recovery and Reinvestment Act of 2009. The Recovery Act includes $13.61 billion for projects and programs administered by HUD, 75 percent of which was allocated to recipients today — only one week after President Obama signed the Act into law. Learn more.