Rebuilding Together, national nonprofits tackle REO issue

Home repair and community development nonprofit Rebuilding Together is working with national housing organizations to rehabilitate real estate owned properties nationwide.

The groups involved, which include Rebuilding Together, NeighborWorks America and the National Community Stabilization Trust, are rolling out a multipronged approach to improving neighborhoods left vacant in the wake of the foreclosure crisis.

As part of the three-year partnership, the groups will be focused on first building up the Rebuilding Together affiliates nationwide, while giving them more resources to buy, rehabilitate and resell REO properties to help communities impacted by foreclosure.

The second step will be to expand the NeighborWorks America loan modification scam alert campaign to ensure more homeowners have the advice needed to protect themselves from loan modification scams.

The final step will be to give one local Rebuilding Together organization a chance to partake in NeighborWorks America’s board governance program that trains nonprofits to enhance their use of existing homeownership tools.

“Today’s announcement between NeighborWorks America, the National Community Stabilization Trust, and Rebuilding Together brings together three of the nation’s most experienced affordable housing nonprofits and leverages the unique skills and experience of each organization to help transform low-income neighborhoods devastated by the housing crisis,” said Gary Officer, president and CEO of Rebuilding Together.

“It also provides excellent resources to Rebuilding Together, as we expand our capacity to transforming REOs and complements the ongoing work of our mission by providing safe and healthy housing.”

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