Monday, November 9, 2009

NeighborWorks America Supports Extension of Homebuyer Tax Credit

NeighborWorks America applauds the latest decision by Congress and the Obama Administration to renew the homebuyer tax credit and make the credit available to both first-time homebuyers and repeat homeowners who have lived in their homes for five years.

Regardless of whether you are a first-time homebuyer or an existing homeowner ready to make your next home purchase, NeighborWorks urges all homebuyers to seek homeownership education from a HUD-approved nonprofit organization before purchasing a home.

“Buying a home is a complex financial transaction and homeowners who begin the process with the right information through homeownership education lay the groundwork for long-term success for themselves and the community at-large,” said Ken Wade, CEO of NeighborWorks America. “Millions have been affected by the short-term approach to homeownership that was prevalent earlier this decade. Had homebuyers had adequate access to homebuyer education prior to their home purchases, I am sure that the foreclosure crisis would have been less severe.”

For 30 years, the NeighborWorks network and nearly 100 other locally-based nonprofit organizations have worked with thousands of homebuyers to help them achieve their dream of long-term homeownership. These HUD-approved counseling organizations have trained counselors on-staff, ready to advise families one-on-one and help them make the right homeownership choices for them. View a list of NeighborWorks Homeownership Centers to find homeownership education courses offered near you.