1. Working Together for Strong Communities The Faces of Foreclosure: In America

2. Working Together for Strong Communities NeighborWorks® America Creates opportunities for people to live in affordable homes, improve their lives and strengthen their communities. Congressionally chartered with statutory board. Over 235 NeighborWorks organizations. 160,000+ Homebuyers (FY 1993 – FY 2010). National Foreclosure Mitigation Counseling Program (NFMC): 1,000,000+ families counseled.

3. Working Together for Strong Communities The Faces of Foreclosure: In America Source: Realtytrac.com

4. Working Together for Strong Communities The Faces of Foreclosure: In America Consumer Profiles – What We Know Foreclosure starts now concentrated in Prime Fixed and Prime ARM Products. 62% of households seeking assistance hold Fixed mortgages. 49% of households have both Fixed mortgage and interest rate below 8%. Fifty-eight percent (58%) of households seeking counseling reported reduction or loss of income as primary reason for hardship (54% in Nov’09 report update and 41% in Oct’08 report update).

5. Working Together for Strong Communities The Faces of Foreclosure: In America Consumer Profiles – What We Know 38% of households assisted were “Married w/ Dependents” (19% “Single Adults”, “16% Married w/o Dependents”, 13% “Female Head of Household w/ Dependents”). 52% of clients are minority homeowners (African American, Hispanic, American Indian/Alaskan Native, Asian, Pacific Islander, and clients listing more than one ethnic background). 61% of clients are between the ages of 35 and 54 (23% are over the age of 55).

6. Working Together for Strong Communities The Faces of Foreclosure: In America Consumer Profiles – What We Know 66% of clients report household income less than 80% of AMI. 41% report income less than 50% AMI. 53% of clients are fewer than 60 days delinquent on mortgage payment (33% were current at intake, and 22% were over 120 days delinquent). 39% of counseled households pay more than 50% of income toward housing (20% pay more than 75%)..

7. Working Together for Strong Communities The Faces of Foreclosure: In America What’s Being Done? National Foreclosure Mitigation Counseling Program (NFMC) $475 million has been appropriated to the NFMC program since Dec’07 Uses of funds: Foreclosure Counseling and Legal Assistance Funding: $381.2 million has been awarded to 166 direct grantees (1,700 sub-grantees). Training: $18 million. Consumers Assisted: Over 1 million counseled; more than 13,000 received legal assistance. More than 13,000 received legal assistance. Counseled consumers 60% more likely to avoid foreclosure. Counseled consumers receiving mortgage modifications save average of $454 on monthly payment.

8. Working Together for Strong Communities The Faces of Foreclosure: In America What’s Being Done? National Initiatives – Products and Services Making Home Affordable (www.makinghomeaffordable.gov and www.hmpadmin.com)www.makinghomeaffordable.gov www.hmpadmin.com Program Design and Implementation. Intermediary between non-profits, for-profits, and Federal Agencies. Counselor training on HAMP, HARP, HAFA, 2MP. Informational sessions hosted – feedback on program success provided to Congress, regulators, investors/servicers. FHA (www.fha.gov) and “Proprietary” products and serviceswww.fha.gov Pilot initiatives, consumer outreach, and counselor training. Dedicated resources for NW network and mortgage servicers.

9. Working Together for Strong Communities The Faces of Foreclosure: In America What’s Being Done? National Initiatives – Products and Services Capacity Building and Technological Efficiencies Hope LoanPort (www.hopeloanportal.org)www.hopeloanportal.org Electronic transmission of applications and messaging. Integration of technology applications for ease of use. CounselorMax (www.hopeloanportal.org)www.hopeloanportal.org Client Management System as source application for all consumer services. Continued efforts to provide additional funding opportunities. Technical assistance for organizations (reporting, outreach, technology, training).

10. Working Together for Strong Communities The Faces of Foreclosure: In America What’s Being Done? National Initiatives – Outreach Consumer Awareness Campaigns “Nothing is Worse Than Doing Nothing” Designed for early intervention – 888-995-HOPE. Radio, Television, Print campaign. Loan Scam Alert (www.loanscamalert.org)www.loanscamalert.org Awareness of scam activities intended to be tailored locally Radio, Television, Print campaign. Borrower Outreach Events Partnership with Government, Industry, and Non-Profits. Local events provide opportunity for consumers to meet with housing counselors and mortgage servicers.

11. Working Together for Strong Communities The Faces of Foreclosure: In America What’s Being Done? State, Local, and National Coalitions Partnerships with task forces Several states and regional task forces formed. Funding assistance, help to provide forum, facilitate speaking engagements and subject matter. National Foreclosure Prevention and Neighborhood Stabilization Task Force Assembly of state and local agencies, for-profits, and local governments.