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NCRC Announces Successful Launch of Save the Block Initiative
Helping Families Save their Homes, One Community at a Time
Upper Marlboro, MD – On Saturday, September 13, the National Community Reinvestment Coalition (NCRC) held its first Save the Block Party, an initiative to help families who have been financially impacted by the recent and ongoing housing crisis. Save the Block Party was held in Prince George’s County at Watkins Regional Park; an estimated 1,500 people attended and nearly 500 families received counseling by non-profit counselors or met with their servicer.
Save the Block Party! brought together different segments of Prince George’s County all with the same goal: working together to keep families in their homes. This initiative was designed to ensure that homeowners are aware of available service providers and mortgage counselors who are available help them avoid unnecessary foreclosures and explore alternative resolutions. Homeowners received a range of services, including foreclosure prevention counseling; direct intervention through restructuring and refinancing loans; and loan prequalification for new homeowners.
"Many of the families who sought help from our Save the Block Party! initiative were stuck in loans that were not suitable for their credit needs. Families came who are facing foreclosure, but have been unable to obtain meaningful modification or workout of their problem loan," said John Taylor, NCRC President and Chief Executive Officer. "Most foreclosure prevention programs have focused on individual consumers and as a result, have not provided assistance in ways that maximize the impact that could be secured through a more concentrated and focused geographic approach. We believe this block-by-block, door-to-door approach will have a significant and sustained impact on homeowners and communities. People in crisis situations need someone they can trust working on their behalf", said Taylor.
On Saturday, September 20, NCRC will host a second event in Fairfax, VA at the Fairfax County Government Center. "The opportunity to meet families where they are and reach out to families in such a supportive way is what makes Save the Block so unique," said Taylor. "At a time when for the foreclosure crisis is getting worse in our communities, it’s good to be able to to take some of the stress and financial burden off of working families."
For more information on Save the Block Party!
or to register for homeowner assistance, visit www.savetheblockparty.org.
About the National Community Reinvestment Coalition - NCRC is a nonprofit
association comprising more than 600 community-based organizations that
promote access to basic banking services, including credit and savings,
to create and sustain affordable housing, job development and vibrant
communities for America's working families. Our members include community
reinvestment organizations, community development corporations, local
and state government agencies, faith-based institutions, community organizing
and civil rights groups, minority and women-owned business associations,
and local and social service providers from across the nation. www.ncrc.org.
NCRC's 360-Degree Solution is designed to help individual consumers and entire communities.
The National Community Reinvestment Coalition (NCRC) is launching a new initiative to help at-risk homeowners save their homes through joint housing counseling and loss mitigation efforts. The Save the Block Party!, program will utilize a unique 360 degree approach to helping homeowners facing foreclosure, by pairing participating homeowners with a housing counselor who has a dedicated servicer contact.
Through each Save the Block Party! event, NCRC aims to help hundreds of homeowners find affordable mortgage solutions. The first event was held in Prince George's County on September 13, 2008 and the second event immediately followed in Fairfax County on September 20.
The family-oriented festival will feature prescreened appointment times where individuals who own and occupy their home will receive direct intervention and counseling services, as well as loan servicing through HOPE Now Alliance, NCRC's National Homeownership Sustainability Fund and other partners.
NCRC
Launches Save the Block Party! Initiative
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