Neighborhood Housing Services e-newsletter

<%@LANGUAGE="JAVASCRIPT" CODEPAGE="1252"%> Neighborhood Housing Services e-newsletter

NHS, a certified NeighborWorks® HomeOwnership Center and a licensed lender, provides a full spectrum of homeownership services in English and Spanish – and through a partnership with Little Haiti Housing Association, in Creole – to assist buyers in reaching their homeownership dream.

September 8, 2005

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NHS recently completed a six-figure loan agreement with national secondary market Neighborhood Housing Services of America (NHSA) that will allow more families in Miami-Dade County to become first-time homeowners.

This is the first such agreement brokered throughout the 235-member national NeighborWorks® network. NHS will take out a $200,000 loan from NHSA and use seven second mortgage loans with a total outstanding balance of $300,000 as collateral.

”The bottom line,” according to NHS Executive Director Arden Shank, “is that we’ve figured out a way to manage our capital so that more families in Miami-Dade County can afford to buy their first home.”

NHS will loan the money in the form of second mortgages to first-time homebuyers. These funds help fill the gap between the price of the home and what the first mortgage lender is willing to loan, avoiding expensive private mortgage insurance.

Though unconventional in the nonprofit world, this way of leveraging capital does not create unreasonable risk. Since current staff came aboard in 2001, NHS has not suffered a single foreclosure.

“We’re very pleased that this is working out,” Shank said. “We’re always looking for creative ways to help more families achieve their dream of homeownership.”

or more information about NHS’ innovative financing options, contact Jorge Diaz-Silveira, NHS Director of Lending, at 305-751-5511 ext. 224 or jorged@mdnhs.org.

Beverly Forbes, long-time secretary of the board of directors at NHS, passed away on August 3, her 64th birthday.

Beverly had the longest tenure of any current board or staff member at the time of her passing, having joined the board in 1996. A committed and meticulous secretary, she was a stabilizing force through the organization’s restructuring process in 2000 and 2001.

Read more

Miami Herald, Aug. 31, 2005

More people in Miami-Dade County spent more than 30 percent of their annual income on rent than in any other county in the nation in 2004, according to new data from the U.S. Census.

Miami-Dade's median income ranked 216th out of 236 large counties, and the city of Miami is third among poorest big cities. Coupled with skyrocketing housing prices, these statistics mean that more residents in Miami-Dade are one emergency away from serious financial trouble than about anywhere else in the country.

NHS is accepting applicants for the position of Marketing Assistant to participate in the LISC AmeriCorps program.

Primary responsibilities include: producing appropriate PR materials to inform current and potential partners and homebuyers about homeownership opportunities; maintaining the organizational website; producing a regular email and paper newsletter; sending out news releases; and assisting the Executive Director with writing grant proposals.

Requirements: Bachelor’s degree in writing or marketing or related field; ability to manage and prioritize multiple tasks; creative, strong analytical, systems, and problem-solving skills. Familiarity with Microsoft Office, Adobe PhotoShop, and Dreamweaver web design software a plus.

Please contact Tim Shenk, Marketing Coordinator, at 305-751-5511 ext. 233 or tims@mdnhs.org.

View schedules for upcoming Orientations, Homebuyer Education classes, and Post-Purchase classes. Click on a class to see its schedule, then call Gissele at 305-751-5511 for more information or to reserve your spot.

We also conduct free Orientations and Homebuyer Education classes on site for employee groups, community groups, and church congregations.

Contact Marc Williams at 305-751-5511 ext. 223 or marcw@mdnhs.org for more information.

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Neighborhood Housing Services
181 NE 82nd Street
Miami, FL 33138-3755
tel: 305.751.5511
fax: 305.751.2228
www.mdnhs.org

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