NeighborWorks logo ALERT e-newsletter
July 2010 news, training, & resources for community development
Feature Financial Reform includes NSP funding, mortgage relief for the unemployed

Financial Reform Law Includes Mortgage Relief for the Unemployed and Additional Funds for NSP

The new financial reform bill signed into law on July 21 includes $1 billion in emergency relief funds to help out-of-work homeowners keep up with their housing costs. The law also provides an additional $1 billion for HUD’s Neighborhood Stabilization Program (NSP) – a nationwide initiative aimed at alleviating the effects of the foreclosure crisis on communities that have been hit hard by the housing downturn and are riddled with abandoned properties. More information can be found here.




NeighborWorks News
NeighborWorks America Helps Nonprofits Navigate NSP with Do's and Don'ts Accounting Webinar
With more than $7 billion of federal money flowing into communities through the Neighborhood Stabilization Program (NSP), NeighborWorks America recently offered tips to nonprofit grantees on how to navigate the processes of cost allocation and reimbursement. In all, 38 organizations participated in this important discussion on how to accurately manage the NSP process under the rules established by the Office of Management and Budget. More information is available here.
 
NeighborWorks America Chooses Fifth Class for its High-Impact Organizational Development Program, Achieving Excellence
NeighborWorks America proudly invited 49 seasoned executives to participate in the fifth class of its NeighborWorks Achieving Excellence in Community Development Program, offered in collaboration with the Harvard University John F. Kennedy School of Government. The program provides the forum, the challenge, the tools, the space and the opportunity for senior executives to lead their organization to a higher level of effectiveness and sustainability. Learn more about the incoming Achieving Excellence class.
 
FTC Bans Eight Marketers from Selling Mortgage Relief
Federal regulators have banned eight individuals and companies from selling mortgage-relief services, settling charges that they used false advertising to deceive homeowners facing foreclosure. The Federal Trade Commission (FTC) said that it has ordered the firms and individuals to return $29.2 million in fees that they allegedly collected from clients. However, some of the individuals charged are unable to pay and the agency said it has agreed to suspend $11.5 million in judgments. The settlements were the latest actions against marketers who authorities said exploited distressed homeowners to turn a profit. So far, the FTC has brought 29 cases against those who have falsely promised mortgage relief in exchange for hefty fees up front. Read more at WashingtonPost.com.
 
NeighborWorks' Tim Adams Talks to Fox News About Preventing Homeowner Scams
In a recent interview with Fox News in Philadelphia, NeighborWorks MidAtlantic District Director Tim Adams said that help is available to protect homeowners from costly scams. In the interview, Adams outlined the top three indicators of a loan modification scam and directed homeowners facing foreclosure to www.loanscamalert.org to learn the facts. Richard Zack, assistant U.S. attorney for the Eastern District of Pennsylvania, was interviewed with Adams. Watch the video here.
 
In this issueNeighborWorks NewsPublic Sector AlertFunding OpportunitiesTraining - EventsResources
Visit us online at: www.nw.org

Community Strategies
Community Strategies represent the shared experience of NeighborWorks America and its member organizations in various topics of community development and affordable housing.
Training Institute
The NeighborWorks Training Institute is dedicated to providing the highest quality training for community development practitioners. Learn about the latest classes and symposia on leading-edge topics.
Publications
NeighborWorks America produces a wide variety of publications that can be downloaded at NeighborWorks Publications.
Network Data
Find lists and charts on NeighborWorks America and NeighborWorks organizations.
NeighborWorks Cinema
Movies and images about strengthening communities and transforming lives.

To comment or suggest content, contact lhassan@nw.org.

For questions or comments on regulatory or legislative items, contact hdecell@nw.org.

See past issues of NeighborWorks Alert.

Connect With Us!

Blogger News Blog
Facebook Facebook
Twitter Twitter
Leaders For Communities Leaders for Communities
NeighborWorks Organization Serving the Navajo Nation Recognized
for Accomplishments Despite Great Obstacles
NeighborWorks member organization Navajo Partnership for Housing was recently recognized in American Banker magazine and National Mortgage News for working hard against great obstacles to bring homebuyer education to an underserved population. Over the past 15 years the New Mexico-based organization has provided grants and loans to families to help them buy, build and rehabilitate homes in an area where very little mortgage infrastructure exists. Read more in the article, A Hard Job.
 
NeighborWorks Omaha Has Contributed $100 Million to its Local Economy, According to New Study
NeighborWorks Omaha has contributed more than $100 million to the local economy in recent years, according to a new study from Creighton University's College of Business Administration. The organization has spent $31.7 million on its single-family home and multifamily housing projects going back to 2001. Beyond that, NeighborWorks Omaha directly put another $17 million, including staff salaries and purchases, into the economy. All told, the report says, the organization had an impact of $116.1 million from 2001 through 2009, considering its direct spending and secondary spending as those dollars spread through the economy. More information is available from the Omaha World Herald.
 
NeighborWorks Columbus Wins Community Green Award
Congratulations to NeighborWorks Columbus in Georgia for winning their local NBC News Community Green Award. The organization received the award for their work during NeighborWorks Week last month, during which they cleaned up and planted flowers in 14 properties in the community. View NBC's video promotion of this honor.
 
back to top
Funding Opportunities
Ameriprise Financial Accepting Applications for Community Relations Grants Program, Deadline, September 1, 2010
Ameriprise Financial, Inc., a diversified financial services company, is accepting grant applications for the third cycle of its 2010 Community Relations grantmaking program. Ameriprise provides grants to nonprofit organizations in communities across the United States where its employees, advisors, and retirees live and work. The company prefers to direct funding to specific projects that can demonstrate innovative approaches with measurable results or capacity building rather than general operating support. Awards are given in three areas: meeting basic needs, supporting community vitality, and volunteer-driven causes. Visit the Ameriprise Financial Web site for complete program information and application criteria.
 
TD Charitable Foundation Offers Grants to Support Capital Improvements
for Affordable Housing, Deadline, September 3, 2010
The TD Charitable Foundation, the charitable giving arm of TD Bank, has announced that it will award $1.7 million in grants through its fifth annual Housing for Everyone grant competition to support affordable housing initiatives from Maine to Florida. The foundation will award 34 grants ranging from $10,000 to $100,000 each to eligible housing nonprofit organizations that submit compelling proposals. Find out how to apply.
 
back to top
Training/Events
Registration for the Philadelphia Training Institute Extended to July 30

Hotels and classes are filling, but NeighborWorks still offers you an extra day to register online for the popular Philadelphia Training Institute. Registration for the Philadelphia Training Institute has been extended to July 30. Register online today to reserve your seats! Courses are filling, and the Philadelphia Training Institute has much to offer. Philadelphia is sure to inspire you as you take part in some of the many courses being offered. Check out the Affordable Housing Symposium, A New Era in Affordable Housing: Investing for Impact in Sustainable Communities. Step back in time to reflect on the founding of the country as you learn the latest skills and tools to forge a stronger future. Philadelphia's NeighborWorks Training Institute will delight your senses from the local arts scene and ethnic foods to the rich history and thriving community service focus. Come for the nationally renowned training, and leave with an experience steeped in significance. Register online today!

 
NeighborWorks America Offers AICP Accreditation Courses

NeighborWorks America is a registered provider of American Institute of Certified Planners accredited courses. You can apply qualified courses from NeighborWorks training events toward AICP certification. Visit the APA’s website to claim your credits. If you have problems reporting your CM credits or have general questions about APA’s CM program, please contact AICPCM@planning.org. APA’s customer service associates are available to assist you.

 
back to top
Resources
New Resource for Housing Counselors
NeighborWorks has partnered with AssetPlatform.org, a resource website created to help nonprofit practitioners better meet the financial service needs of their clients. Tools, training, products and services are offered so that counselors can have an array of proven resources from which to draw. Registration and access to the site are free and available for immediate access at AssetPlatform.org.
 
Housing in America: the Next Decade
According to a new research paper from the Urban land Institute one of the biggest challenges to housing markets today, besides unemployment, is the growing number of homes with mortgages that are “underwater”—that is, with principal balances higher than the current values of the homes that secure them. Housing in America: The Next Decade predicts that by the end of 2010, some 40 percent of all homes with mortgages will be underwater. The report also looks at long-term trends that are emerging, including the four demographic groups that will drive housing markets for the next decade.
 
back to top