Neighborhood investment COMMITTEE
PUBLIC EDUCATION PROGRAM
EMPOWERING FAMILIES THROUGH EDUCATION
The Neighborhood Investment Committee is a statewide consumer education & engagement program providing FREE foreclosure prevention best practices and information regarding loss mitigation options for homeowners currently facing financial hardship. The mission of the NIC is to strengthen the economic vitality of our neighborhoods in California by providing educational resources in support of long-range financial planning, loss mitigation capacity building, and advocacy for sustainable development and community revitalization policies. The NIC is driven on private/non-profit partnerships, and is working to leverage investment opportunities from private ventures and real estate investors to address neighborhood value depreciation, economic/community blight, and distressed homeowner issues including: 1) foreclosures, 2) code violations, and 3) tax liens. NIC believes that neighborhood vitalization begins with supporting homeowners. Sustainable financial security for homeowners is critical when addressing the 4 interconnected factors of neighborhood depreciation: declining real estate value, household income and private investments, and crumbling public infrastructure.
Since the 2008 Housing Crisis, over 15 million families faced foreclosure in America. Many have been unaware of the 8 different options and techniques that can be used to prevent foreclosure, while protecting their credit and future financial position. Many are also unaware of the various legal rights provided to homeowners during the foreclosure proceedings. Noting the time constraints during the proceeding, we believe it’s important for homeowners to consider “all options” legally provided, to optimize their decision making process. Therefore, our overarching goal is to inform homeowners of the 8 options to prevent foreclosure, and present best practices to strengthen their long range financial security.
ADVANCING FINANCIAL SECURITY
According to the U.S. Federal Reserve Bureau’s Report on Economic Well Being, 44% of Americans currently face financial hardship. On their “How Housing Matters” report, 52% of Americans have compromised their financial security due to their mortgage during the past 3 years. Therefore, an important recommendation from our program is for families to be aware of their major liabilities impacting financial security, and to be vigilant on improving their ongoing financial literacy/education.
The Neighborhood Investment Committee is a consumer engagement and outreach program. Below are disclosures regarding the program:
1. Foreclosure prevention services provided at no cost
2. Information presented for educational purposes only
3. We are not a government program and/or affiliated with the government.
4. Please note that your lender may not agree to adjust your loan and/or agree to a forbearance or repayment plan. We are not instructing you to stop making payments. You can stop communications with the Neighborhood Investment Committee at any time.
5. All financial information,documents/worksheets are incomplete snapshots.
6. We are not attorneys. For legal advice, please consult with your attorney.