SEPTEMBER 29, 2010

Giving High School Dropouts a Second Chance

This four-minute video story outlines the value of a YouthBuild program in Newark that is helping high school drop-outs obtain their GEDs while learning new skills and planning for continued education.

SOURCE: Time Magazine

URL: http://www.time.com/time/video/player/0,32068,607987017001_2019025,00.html

SEPTEMBER 29, 2010

Nearly 35,000 Fannie-Owned Homes Bought Under First Look Program

Article outlines the year’s successes related to the First Look program, which is designed to promote owner occupancy and minimize competition with investors for foreclosed homes.

SOURCE: DSNews.com, 9/21/10

URL: http://www.dsnews.com/articles/nearly-35000-fannie-owned-homes-purchased-through-first-look-initiative-2010-09-21

SEPTEMBER 29, 2010

Freddie Mac Expands First Look Initiative for REO Homes

Article describes Freddie Mac’s expansion of the First Look program that will allow any homebuyer to purchase his or her REO property as a primary residence the first 15 days after the property is listed. Read the article here.

SOURCE: DSNews.com, 9/15/10

URL: http://www.dsnews.com/articles/freddie-mac-expands-first-look-initiative-for-reo-homes-2010-09-15

SEPTEMBER 29, 2010

Nonprofits Fear Tight Underwriting Will Hinder Community Stabilization

A “snapshot survey” done at the Philadelphia NeighborWorks Training Institute shows that nonprofits are worried that tight mortgage standards will make it difficult for them to sell rehabilitated properties acquired through the NSP program.

SOURCE: MortgageOrb.com, 9/23/10

SEPTEMBER 22, 2010

HUD Announces Alaska Affordable Housing Funds

Article describes Alaska’s NSP funding that will revitalize neighborhoods by transforming foreclosed properties into affordable housing units.

SOURCE: KTUU, 9/9/10

URL: http://www.ktuu.com/news/ktuu-hud-affordable-housing-funds-090810,0,4360090.story

SEPTEMBER 22, 2010

Federal Reserve Bank of Philadelphia's Cascade Newsletter

This issue includes articles on lenders supporting energy efficiency, addressing vacant land issues and analysis of Fannie Mae’s national housing survey.

SOURCE: Federal Reserve Bank of Philadelphia

URL: http://www.philadelphiafed.org/community-development/publications/cascade/

SEPTEMBER 22, 2010

NeighborWorks Program Gets $2M in Federal Funding

NeighborWorks® Green Bay’s efforts to revitalize foreclosed properties with NSP funds are highlighted in this article.

SOURCE: Green Bay Press Gazette

URL: http://www.greenbaypressgazette.com/article/20100903/GPG0101/9030564/NeighborWorks-program-gets-2M-in-federal-funding

SEPTEMBER 22, 2010

U.S. Housing Department Announces $122M in Funding to Help N.J. Foreclosed Properties

Federal funds will help New Jersey nonprofits rehabilitate and sell foreclosed properties, thereby revitalizing areas through homeownership and increased property values.

SOURCE: NJ.com, 9/9/10

URL: http://www.nj.com/news/index.ssf/2010/09/us_housing_department_announce.html

SEPTEMBER 13, 2010