Milestones & Accomplishments
Los Angeles Neighborhood Housing Services (LA NHS) is pleased to share with you the results of its programs during the fiscal year ended June 30, 2009. Along with its affiliates, NHS Neighborhood Redevelopment Corporation and NHS Neighborhood Lending Services, LA NHS touched the lives of more than 1.87 million households as a Community Development Financial Institution (CDFI) during the fiscal year. Accomplishments included:
- Reinvested more than $117 million to low-to-moderate income families who needed purchase, rehabilitation, or refinancing assistance;
- Closed 348 loans through retail and wholesale agreements with external lenders. Through out own revolving loan fund, we provided $4.03 million in direct financing to local residents to improve housing conditions, create homeownership opportunities, and prevent foreclosures. Through our affiliates, an additional $17.1 million was reinvested through real estate and construction management services;
- Assisted 9,172 families to preserve their homes and prevent foreclosure through aggressive foreclosure prevention and post purchase education fairs, clinics, and workshops, and other NHS programs;
- Educated and counseled 1,429 families regarding homeownership purchase, budgeting, credit repair, home maintenance, and insurance education;
- Completed 219 home inspections, work write-ups, project management jobs starts and completions. NHS has completed the construction of its North Hills Villas subdivision that provides housing for 30 low-to-moderate income families;
- Managed 780 volunteers, who spent 6,240 hours participating in NHS sponsored Foreclosure Prevention Fairs/Clinics/Workshops and Neighborhood Pride Day events. Events assisted families to preserve their homes, prevent foreclosure and helping low-to-moderate income families and seniors with house painting and minor repairs.
Our Center for Foreclosure Solutions has continued to help families faced with foreclosure through initiatives such as the Homeowner Preservation Program, Neighborhood Stabilization Program, Relocation Assistance Program, and other related programs. During the fiscal year that ended June 30, 2009, we received 94,322 calls, averaging about 375 calls per business day on foreclosure and other program related information.
We are committed to serve the families in our neighborhoods through this financial crisis because
we all know someone.
Los Angeles County NeighborWorks® Center for Foreclosure Solutions
SCORECARD
In 2003, Los Angeles Neighborhood Housing Services (LA NHS), a chartered member of NeighborWorks America, began an aggressive effort to preserve homeownership in target Los Angeles neighborhoods. In the same year, these neighborhoods were identified as “hot spots” in a study conducted by the Joint Center for Housing Studies at Harvard University. The study found that these “hot spots” were also the highest minority, lowest income quartiles in Los Angeles.
LA NHS has had to remain focused on home preservation. Since 2003, thousands of families have lost their homes to foreclosure. Many of the gains that were made in homeownership rates over the last 15 years have been lost. In 2007, LA NHS established the Los Angeles County NeighborWorks® Center for Foreclosure Solutions, which is a coalition of organizations dedicated to creating an immediate and sustainable solution to address the foreclosure crisis.
The Center for Foreclosure Solutions is proud of its accomplishments in addressing the foreclosure issue in Los Angeles County. Nevertheless, there is more work ahead. We have developed a SCORECARD for the Center to benchmark our FY 2009 contributions to the foreclosure prevention effort. Review our SCORECARD.
