For Immediate Release
May 31, 2007

Contact: Doug Robinson, 202-220-2360
drobinson@nw.org

National Neighborhood Improvement Kicks off With NeighborWorks® Week;
Mortgage Education and Foreclosure Prevention Workshops Will Be Featured in Many Communities

WASHINGTON – NeighborWorks America today announced that it expects that more than 40,000 residents will fan out into communities around the country during the 24th annual NeighborWorks Week, sprucing up homes and neighborhoods and learning more about the mortgage process and foreclosure prevention. NeighborWorks Week runs from June 2- June 9.

More than 300 community-based events are planned, from painting housing and cleaning vacant lots to fast-paced 5K runs to raise money and awareness, and one-on-one homeowner counseling sessions. The goal of all events and activities is to engage residents and businesses in efforts that transform their communities into better places to live, work and play.

“NeighborWorks week events are varied, but they all focus on one common objective – improving the lives of residents,” said NeighborWorks America CEO Ken Wade. “By empowering residents to take charge of their own futures and through partnership with local business and civic groups, NeighborWorks week events are the catalysts for positive change throughout the year.”

Homebuyer education and foreclosure prevention are major efforts by some NeighborWorks organizations during the week. The mortgage market has become extremely complex in recent years, and NeighborWorks organizations believe that homebuyer education is the best tool to prevent predatory mortgage lending. Moreover, with tens of thousands of families struggling to keep up with sharply higher mortgage payments due to rising ARM rates, NeighborWorks organizations have increased their foreclosure prevention outreach efforts. A major part of those efforts is marketing of the national foreclosure prevention help line – 888-995-HOPE. Callers to the help line who need one-on-one foreclosure prevention counseling are directed to a NeighborWorks organization right in their communities.

Specific information about NeighborWorks week events in local areas is available at the NeighborWorks Week site.

NeighborWorks America has been strengthening communities and transforming lives across America since 1978 by supporting innovative local partnerships consisting of residents, businesses and government, collectively known as the NeighborWorks network. There are now more than 235 local NeighborWorks member organizations serving more than 4,400 communities across America. In the last five years alone, NeighborWorks organizations have generated more than $12 billion in community investments and helped more than 845,000 families of modest means purchase or improve their homes or secure safe, sound rental or mutual housing.

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