News

North Texas Housing Coalition Launches New Program

Brandon Gallop Rice — Fri, 30 Sep 2011 09:49:58 GMT

New economic center will focus on financial management and education

Join the North Texas Housing Coalition (NTHC) in announcing the formation of the Financial Education Coaching program (FEC).

According to a study released by the City of Dallas’ Office of Economic Development, more than 3.5 million (MM) people are expected to move into the Dallas/Fort Worth Metropolitan Statistical Area (MSA) within the next two decades, representing a 53 percent increase in population. Today’s economy also it makes it more difficult for low-to-moderate working families to buy a home. Credit is harder to get and banks are scrutinizing potential homeowners.

With the continued influx of residents, affordable housing demands will continue to grow. In response to these affordable housing market demands, the NTHC will be launching the FEC to provide FREE community-wide financial workshops on personal financial management to low-to-moderate income and minority communities.

These workshops, held throughout the region, will focus on budgeting, the importance of establishing banking relationships, and the critical need for reducing debt and managing credit responsibly. Participants will also be asked to complete a Financial Empowerment Plan that will help map out short-term and long-term savings goals, credit repairs, etc. Participants will learn how to develop a monthly budget, build a personal savings account and improve their financial stability.

NTHC’s challenging nine-month program will work with participants towards the goal of homeownership. The FEC program will consist of instructor led classroom instruction, group counseling, and one-on-one certified housing counseling.

For more information, please visit our website at www.nthcinc.org or call 214-946-3500 for workshop information.

Wholeness as a Tool for Successful Development

admin — Thu, 21 Jul 2011 13:43:02 GMT

What is Wholeness?

"Wholeness is a state of equity; spcifically, equity in opportunity and quality of life."
What It Is...Equality of Opportunity & A Level Playing Field
What It Is Not...About Levels of Performance

What is the Wholeness Index?

A unique tool...that measures Quality of Life
Replicable...annually...and across cities
Measures disparity...not performance
Makes data actionable...by displaying it spatially

Click here to download this publication and read more.

Fannie Mae Opens First Mortgage Help Center in Texas

Fannie Mae — Mon, 06 Jun 2011 14:34:45 GMT

Local Counseling Partnerships in the Greater Dallas/Fort Worth Metro Area Provide Homeowners with Free Foreclosure Prevention Services

WASHINGTON, DC – Fannie Mae (FNMA/OTC) today announced the opening of a new mortgage help center in Dallas and partnerships with two non-profit housing agencies that will provide free counseling services for struggling homeowners in the greater Dallas and Fort Worth metro areas, with loans owned by Fannie Mae.

The Fannie Mae Dallas/Fort Worth Mortgage Help Center is the sixth Fannie Mae facility in a series of nationwide help centers to assist borrowers in the hardest hit areas. The North Texas Housing Coalition is partnering with Fannie Mae to work directly with borrowers at the help center. A second partnership with Tarrant County Housing Partnership also offers counseling services for homeowners with Fannie Mae loans at their facility in the Fort Worth area.

“Distressed homeowners facing economic hardships of varying degrees should know that free counseling is just a phone call or email away, and that our experienced staff is here to help each homeowner navigate through the myriad of options available to them,” said Jeff Hayward, Fannie Mae’s Senior Vice President, National Servicing Organization. “With one in every 281 Texas homes in foreclosure, and Dallas and Tarrant Counties ranking second and third in the state for the highest foreclosure rates, we are reaching out to thousands of local homeowners to help resolve their mortgage situation.”

At both facilities distressed homeowners will meet directly with dedicated on-site English- and Spanish-speaking staff and experienced housing counselors to discuss their mortgage situation. These face-to-face meetings will help borrowers better understand the range of foreclosure prevention options available, advise them on how to resolve their mortgage situation, accelerate servicer response time and provide financial counseling.

“We live in communities filled with homeowners struggling to make ends meet and keep their homes,” said Albert Martin, Director of the North Texas Housing Coalition. “The new Fannie Mae Dallas/Fort Worth Mortgage Help Center is important to North Texas and the communities it serves by positively impacting the families in our communities. For families who could be facing foreclosure, the center provides the lifeline they need to get help.”

"This partnership could not have come at a better time," said Donna Van Ness, President of Tarrant County Housing Partnership. "So many of our residents are struggling to stay current on house payments and there is a lot of confusion about mortgage programs that are in place to help, so we look forward to working with Fannie Mae to help people stay in their homes and keep our neighborhoods strong."

Counselors will provide a full range of services, which include reviewing a borrower’s loan, discussing foreclosure alternatives, collecting the required documents for the federal Making Home Affordable Program and providing help to finalize any pending loan workout efforts. Fannie Mae, North Texas Housing Coalition, and Tarrant County Housing Partnership will provide information and clarify expectations with regard to the foreclosure prevention process. Efforts will be made to counteract local scams and groups that charge fees for modifications and foreclosure prevention services.

The Fannie Mae Dallas/Fort Worth Mortgage Help Center and the Tarrant County Housing Partnership are available for any borrower who has a mortgage held by Fannie Mae. Homeowners can determine if Fannie Mae owns their loan by visiting www.fanniemae.com/loanlookup or by contacting Fannie Mae at 1-800-7FANNIE. Homeowners who do not have loans owned by Fannie Mae can contact the Homeowner’s HOPE™ Hotline at 888-995-HOPE or visit Fannie Mae’s new consumer Web site, www.KnowYourOptions.com.

The Fannie Mae Dallas/Fort Worth Mortgage Help Center is available by appointment only and borrowers wishing to schedule a visit should call (866) 442-8575 or E-mail dallas_mhc@fanniemae.com.

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Fannie Mae exists to expand affordable housing and bring global capital to local communities in order to serve the U.S. housing market. Fannie Mae has a federal charter and operates in America's secondary mortgage market to enhance the liquidity of the mortgage market by providing funds to mortgage bankers and other lenders so that they may lend to home buyers. Our job is to help those who house America.

Follow us on Twitter: http://twitter.com/FannieMae.

Subscribe to our RSS feed at http://www.fanniemae.com/rss/rss.xml.

Free Foreclosure Prevention Counseling Seminar Hosted by the North Texas Housing Coalition

Brandon Gallop Rice — Tue, 19 Oct 2010 10:20:00 GMT

"Keep Your DFW Home" foreclosure session is presented by the MetroTex Association of REALTORS

Join the North Texas Housing Coalition (NTHC) and the MetroTex Association of REALTORS for a FREE foreclosure prevention counseling seminar on Tuesday, October 26 at the MetroTex Duncanville Service Center (407 N. Cedar Ridge, Suite 110, Duncanville, Texas 75116). The seminar will take place from 6-9 p.m. and reservations are encouraged.

“Keep Your DFW Home” is a comprehensive program for North Texas homeowners who are, or who may become, behind on their mortgage. If you are facing foreclosure or you believe that you may not be able to make your mortgage payment, please make plans to attend this free foreclosure seminar. Counseling will be provided by the NTHC, a U.S. Department of Housing and Urban Development (HUD) approved counseling agency. NTHC counselors are specially trained in foreclosure intervention and prevention.

The seminar will focus on various options to help homeowners keep their homes as well as what options are available when keeping your home is not an option. The counselors at NTHC will also discuss what to do if you are facing a foreclosure as well as any other options that may be available.

Space is limited. RSVP online at www.KeepYourDFWHome.com. For more information, please visit our website at www.nthcinc.org or call 214-946-3500 for more information.

Know Your Rights Before Things Go Wrong

Kim Kurth — Tue, 13 Apr 2010 15:23:00 GMT

While a well-known phrase says "March rolls in like a lion and out like a lamb," April and the months ahead don't show any kind of slowdown in the number of families across North Texas facing the prospect of losing their homes to foreclosure. In fact, after first quarter foreclosure numbers for 2010 revealed record highs for Collin County and the Dallas-Fort Worth area rose to number two in the nation for foreclosures behind Denver, many experts predict things will get worse. Click here to read more.

North Texas Housing Coalition Offers Help for Seniors

Brandon Gallop Rice — Wed, 24 Mar 2010 10:23:00 GMT

New Senior Education Resource Center opens

DALLAS –The North Texas Housing Coalition (NTHC) recently announced the opening of the new Senior Education Resource Center (SERC).

SERC will serve as a source of affordable housing information and education for individuals 55 and older. SERC will also provide seniors the tools necessary to help fight consumer fraud, identity theft as well as help with housing related concerns they may have.

Seniors will also be able to get assistance with insurance, retirement and estate planning issues. With the continuing population growth of seniors, concerns about their ability to pay healthcare bills, household expenses as well as other costs are continuing to escalate. By 2030, approximately 71.5 million people will be 65 and older, representing nearly 20 percent of the total U.S. population (Older Americans 2008). Many of these seniors are delaying retirement to continue in the workforce longer due in part to the stumbling economy.

SERC will provide counseling and workshops that will help seniors learn to avoid scams, get help with retirement questions as well as assist with other related issues. Some of these include:

Reverse Mortgage Alternatives
Credit Security and Fraud Prevention
Assisted Living and in-home living options
Health/Medicare/Medicaid information
Legal issues/Power of Attorney

The Homeownership Center, part of the NTHC, is a community resource that provides comprehensive counseling, training and education. For more information, please visit our website at www.nthcinc.org or call 214-946-3500.

Nonprofit Foreclosure Counseling Continues to be Essential

Brandon Gallop Rice — Wed, 11 Mar 2009 10:39:00 GMT

The North Texas Housing Coalition Offers Full Support to the Obama Administration’s Efforts to Combat Foreclosure

DALLAS – The North Texas Housing Coalition (NTHC) is committing their support to the “Making Home Affordable Program” announced by the Obama administration earlier this month. The plan demonstrates the focus on supporting foreclosure prevention and neighborhood stabilization initiatives in order to help a great many homeowners.

“This is a promising step forward for millions of homeowners who are worried about losing their homes,” said Albert Martin, executive director, NTHC. “The programs detailed give hope and important guidance to homeowners who thought that the only solution to their mortgage trouble was foreclosure. Foreclosure doesn’t have to happen.”

NTHC and other HUD certified counseling organizations stand ready to do their part to help qualified homeowners prepare to talk to their lender and to take full advantage of the bold plan announced by the Obama administration. Part of the program entails low-cost refinancing and lower mortgage interest rates. A standard for loan modifications is also part of the plan and states that any modifications completed under the Homeowner Affordability and Stability Plan must be in place for at least five years, and that under the plan, a homeowner’s mortgage debt-to-income ratio will be brought down to 31 percent. .

Community-based foreclosure intervention counseling provided by nonprofit certified counselors is a critical part of the foreclosure prevention process. Nonprofit counselors help homeowners understand their options and the steps they can take to stay in their homes.

The NTHC offers several free foreclosure prevention workshops throughout the year and also offers an “Eight Week to Homeownership Workshop” for those looking to purchase a home.

For more information about the Homeowner Affordability and Stability Plan, visit www.financialstability.gov. For more information about the NTHC or more information on foreclosure prevention, please visit our website at www.nthcinc.org or call 214-946-3500

Life of Service

admin — Fri, 13 Jun 2008 15:26:00 GMT

Early in his career, Albert Martin had a revelation. While working as an internal auditor for the Dr. Pepper Bottling Co., he realized he needed to work with people. So, in 1994 he went back to college to get his MBA and dedicated himself to serving the community. After time spent working as the director of housing and economic development for the Dallas Urban League and Southwestern regional director for Fannie Mae, Martin is now the executive director of the North Texas Housing Coalition. Click here to read more.

Creating Working Class Affordable Housing Opportunities in North Texas

The J. Mcdonald Williams Institute & FCE — Thu, 01 Feb 2007 13:28:00 GMT

Although considerable debate surrounds thedefinition of!working"class/affordable housing, the most common standard definition of affordability is that total household housing costs should not exceed 30% of the household’s monthly net income. However, the 30% threshold for a two"income household earning $200,000 means the household could potentially afford a home costing more than $400,000, while a two "income household earning $41,600 (roughly $10 per hour for each worker) could potentially only afford a home costing approximately $101,000. This point is salient because upper middle class and high net worth families have the option to reduce the amount of money they spend on consumption or other leisure activities if housing costs rise above the 30% threshold, while moderate "and low "income families often do not have this option.

Click here to download the publication and read more.