The staff of Nuestra’s NeighborWorks® Homeownership Center found themselves at the heart of the fight against local foreclosure in 2008, as homeowners in dire need of financial intervention sought the services of our highly skilled foreclosure prevention counselors. Specialist Penelope Pelton, along with other staff, worked with homeowners facing foreclosure on everything from direct loan mediation with financial institutions to personal budget management in her efforts to keep community members from losing their homes. The program enjoyed a 63% success rate in preventing foreclosures in 2008.
Beyond these immediate preventative measures, the Homeownership Center placed additional emphasis on its popular First-Time Homebuyers class. These classes have always played an important role in community wealth generation by easing the path towards homeownership for local, low-income families. Now, however, their value as a resource for market stabilization by virtue of creating responsible homeowners has become increasingly evident. With 76 graduates in 2008 alone, these classes will continue to be a centerpiece of Nuestra’s work in generating community wealth as well as stabilizing local economic conditions. |
David Price standing in front of the Homeownership Center. |
