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2011 Archive

Report: Foreclosure Counseling Nearly Doubles Chances of Mortgage Modification, Reduces Likelihood of Re-default by at least 67 Percent
A report issued today by NeighborWorks America prepared by the Urban Institute on the consumer benefits of the National Foreclosure Mitigation Counseling (NFMC) Program shows that homeowners who received NFMC counseling were nearly twice as likely to obtain a mortgage modification and at least 67 percent more likely to remain current on their mortgage nine months after receiving one, saving servicers considerable time and expense. The data compares the results against homeowners who obtained a mortgage modification without the assistance of an NFMC foreclosure prevention counselor. The report also showed that homeowners received, on average, a mortgage modification that lowered their payment by $176 more per month, than homeowners who didn’t work with an NFMC counselor – a savings of close to $2,100 a year.
NeighborWorks America Honors Senator Kit Bond with Lifetime Achievement Award
NeighborWorks America, one of the country’s largest community development nonprofit corporations today as part of its NeighborWorks Training Institute programs honored Senator Christopher S. “Kit” Bond with its lifetime achievement award for his more than forty years of support to America’s families.
NeighborWorks Training Institute Welcomes Government Leaders
Local and state housing and community economic development managers from around the U.S. are coming to Washington to take classes at the NeighborWorks Training Institute (NTI), one of the largest gatherings of community development professionals in the U.S. annually.
NeighborWorks America Receives $3 Million Grant from Wells Fargo Housing Foundation to Bolster Housing Education and Counseling
NeighborWorks America, the nation’s largest provider of training to the community development industry today announced that it received a $3 million grant from Wells Fargo. The grant supports a range of NeighborWorks America training initiatives designed to strengthen the ability of non-profit community development professionals to help thousands of consumers understand the complex homeownership environment, and where necessary, potential options that can help consumers avoid foreclosure.
NeighborWorks America Names Sarah McGraw Greenberg Director of Development
NeighborWorks America, a congressionally chartered nonprofit and one of the nation’s largest community development corporations, announced today that Sarah McGraw Greenberg has been appointed as director of the Development Division.
NeighborWorks America Announces the 2011 Dorothy Richardson Award Honorees
Today NeighborWorks® America announced the recipients of the 2011 Dorothy Richardson Resident Leadership Award, an honor that recognizes seven community leaders from around the country for their outstanding contributions to their communities. Through years of community building, activism and service to their neighbors, these individuals have made a difference in the lives of many.  NeighborWorks America announced the honorees during the fourth annual Community Leadership Institute, a training event for resident and volunteer leaders.
NeighborWorks America Announces $3.65 Million in Expansion Grants for NeighborWorks Organizations
Today NeighborWorks America announced $3.65 million in grant funding to nonprofit organizations that will enable them to expand their service areas and reach deeper within underserved communities.
More than 1.2 Million Homeowners Counseled for Foreclosure According to Latest NFMC Program Report
Today NeighborWorks America, the administrator of the National Foreclosure Mitigation Counseling (NFMC) Program, announced that more than 1.2 million homeowners across the nation have received foreclosure assistance through the NFMC Program, according to the Program’s sixth Congressional report. 
HUD and NeighborWorks America Accepting Additional Applications for Emergency Homeowners’ Loan Program
The U.S. Department of Housing and Urban Development and NeighborWorks® America today reopened the application process for the Emergency Homeowners’ Loan Program (EHLP) in 27 states and Puerto Rico to give homeowners at risk of foreclosure more time to apply for the program. While the original application deadline was July 27, HUD estimates that resources will be available to reach more struggling homeowners and will accept applications submitted through September 15, 2011.
NeighborWorks America Sees Obstacles to Significant Refinance Activity
Record low mortgage interest rates should be a boost to the economy as homeowners reduce their monthly housing costs and recycle the monthly savings back into the economy. But Marietta Rodriguez, National Director of Homeownership and Lending at NeighborWorks America, points out three realities of today’s mortgage market that suggest a refinance wave may not happen for many homeowners.
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