Grants to Neighborhood Housing Services of Southern Nevada Support
Foreclosure Prevention Counseling Services
Citi’s
Office of Homeownership Preservation today announced it has awarded the Neighborhood
Housing Services of Southern Nevada $50,000 to support foreclosure
prevention counseling services.
As part of its Foreclosure Prevention Program, Citi’s
Office of Homeownership Preservation is partnering with local nonprofit
counseling organizations in 25 cities across the country to address
foreclosure prevention through counseling and training programs. Grants
totaling more than $1 million will help local organizations provide
distressed borrowers with broad-based financial education and free,
on-demand nonprofit counseling. The goal of these early intervention and
education programs is to help reduce the number of foreclosures in
cities across the country, including Las Vegas, and will help borrowers
stay in their homes.
“This is a meaningful contribution to our
organization,” said BJ Wright, President and
Executive Director of the Neighborhood Housing Services of Southern
Nevada. “Our research shows that approximately
40% of our clients can avoid foreclosure if they approach us for help
shortly after they become delinquent. Citi’s
support allows us to continue and expand this critical work and preserve
communities throughout the Las Vegas valley.”
“At Citi we recognize that foreclosures affect
the individual, the family and the community, and that early
intervention and a full understanding of one’s
options can help preserve homeownership,”
said Natalie Abatemarco, Director of the Office of Homeownership
Preservation, Citi. “Therefore, working
closely with our local partners is instrumental in helping us mitigate
the impact of foreclosures across the country. We are committed to
keeping families in their homes and are proud to support the work of the
Neighborhood Housing Services of Southern Nevada.”
Citi has a long commitment to foreclosure prevention and loss
mitigation. Through its Foreclosure Prevention Program, Citi
continues to find opportunities to ensure borrowers keep their homes.
Citi works with nonprofits on foreclosure prevention through the
following efforts: coordinating foreclosure prevention strategies across
the country; offering broad-based financial education and free nonprofit
counseling for all individuals; and providing nonprofit counseling
organizations with direct access to Citi loss mitigation staff.
About Citi
Citi, the leading global financial services company, has some 200
million customer accounts and does business in more than 100 countries,
providing consumers, corporations, governments and institutions with a
broad range of financial products and services, including consumer
banking and credit, corporate and investment banking, securities
brokerage, and wealth management. Citi's major brand names include
Citibank, CitiFinancial, Primerica, Smith Barney, Banamex, and Nikko.
Additional information may be found at www.citigroup.com
or www.citi.com.
About the Office of Homeownership Preservation:
In July 2007, Citi established its Office of Homeownership Preservation
(OHP) to help Citi borrowers at risk of losing their homes. OHP is
dedicated to developing solutions that preserve homeownership by
providing education, training, and funding to key stakeholders to help
mitigate the challenges that borrowers are facing today. To learn more
about Citi’s citizenship efforts: http://www.citigroup.com/citi/citizen/community/updates.htm.
About Neighborhood Housing Services of Southern Nevada:
NHSSN is a full service provider of housing related programs offering
assistance from transitional housing, affordable rental apartments to
homeownership opportunities and Foreclosure Prevention Programs. For
assistance with Foreclosure the community is encouraged to call The HOPE
Hotline: 1-888-995-HOPE. For more information about NHSSN, visit www.nwsn.org.
Media:
Citi:
Mark Rodgers, 212-559-1719
or
Ashley
Carlton, 646-805-2087
or
Neighborhood Housing Services of
Southern Nevada:
BJ Wright, 702-649-0998
