November 4, 2004

Miami, Florida – Today local nonprofit Neighborhood Housing Services (NHS) received national recognition and $50,000 in grants for its success in helping county residents become homeowners.

As part of his keynote address at NHS’ Annual Meeting Luncheon, Kenneth D. Wade, CEO of Neighborhood Reinvestment Corporation, announced NHS’ selection as a HomeOwnership Center. NHS can now claim membership in the fast-growing network of one-stop shops, now 80 centers strong.

NeighborWorks® HomeOwnership Centers offer a comprehensive range of services that are boosting homeownership among the nation’s most under-served buyers. Centers provide prospective homebuyers with expert research and guidance, funding, and the benefit of belonging to a strong national network.

“This designation enables NHS to significantly increase access to homeownership services for low- and moderate-income residents,” said Executive Director Arden Shank.

“We expect to educate 500 families and facilitate financing for 125 new homeowners in Fiscal Year 2005,” Shank said. “This is a critical step toward stabilizing our community and helping modest-income working families build their financial assets.”

“We are honored to welcome Mr. Wade to Miami,” said NHS Board Chair Maedell Brown. “Our staff and board have worked hard over the past few years to make NHS one of the most successful community development corporations in Miami-Dade County, and we are excited that our partners in Washington D.C. are taking notice.”

As CEO, Wade oversees the corporation’s NeighborWorks® network – a nationwide network of more than 230 community development organizations working in nearly 2,300 urban, suburban and rural communities across America. These organizations revitalize and strengthen communities and transform lives by providing financial support, technical assistance and training for the NeighborWorks® network.

In the last five years alone NeighborWorks® organizations have generated more than $7.3 billion in reinvestment and helped more than 298,000 families of modest means purchase or improve their homes or secure safe, decent rental or mutual housing.

Wade applauded NHS for its work to increase homeownership and revitalize Miami communities with a growing diversity of projects, which include construction of single-family homes and neighborhood revitalization.

“NHS’ innovative approach to improving neighborhoods and creating more affordable housing opportunities is making a real difference in the lives of so many residents,” Wade said. “We look forward to continuing to fuel this innovation with the powerful battery of training, research, technical assistance, and funding opportunities that NeighborWorks provides.”

The NeighborWorks® Homeownership Centers are creating a new force of more informed homebuyers, providing homeownership counseling to more than 80,000 first-time homebuyers. The program helps consumers become more financially literate and prepared for the responsibilities of homeownership. Individuals who receive the NeighborWorks® training are far less likely to become delinquent in paying their mortgage.

“Providing affordable homeownership is the single greatest contributor to individual and community empowerment. Studies show that homeownership improves family and economic stability and is a catalyst for civic engagement,” Wade said.

NHS’ Annual Meeting is a time to celebrate the organization’s past successes and to set future goals. In Fiscal Year 2004 NHS helped 73 families become homeowners, a significant 62 percent increase from the previous year. Their goal for FY 2005 is 125 families.

“The NHS program made it easy to purchase my first home,” homeowner Adriana Hernandez said. “I am grateful that there is an organization like yours to help families.”

Funding for the NeighborWorks® HomeOwnership Center comes from Neighborhood Reinvestment Corporation, a congressionally chartered national nonprofit organization that founded and supports the NeighborWorks® network.

NHS, a private nonprofit community development corporation (CDC), partners with numerous CDCs, lenders, real estate agents, and developers to provide individualized homeownership services to low- and moderate-income residents of Miami-Dade County. It believes in helping families build assets through homeownership as a step toward a brighter and more stable future.

Lead Sponsor

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Silver Sponsors

              

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Participating Sponsors

Please direct feedback to Deb Goldsmith, Administrative Assistant.
debg@mdnhs.org or 305-751-5511 ext. 233

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