NeighborWorks® Rochester Makes Record Contributions to Stabilizing City Neighborhoods in 2007!

NeighborWorks® Rochester announced that it made $719,955 in home improvement loans and grants in 2007! “This exceeds the $599,000 in loans we made in 2006, which was a record then.” says Eric Van Dusen, Program Director. “We made 53 loans – also a record number.”

This $719,955 translates to 53 city families having the capacity to make upgrades to porches, siding, front doors, windows, kitchens, and bathrooms and more. It means families whose furnace died or roof was leaking were able to get them fixed quickly. And, most significantly, it means lead hazards were removed from many homes where small children live, thus creating a healthier living environment.

Also in 2007, NeighborWorks® Rochester provided pre-purchase education to 168 interested first-time homebuyers. When participants go through our pre-purchase class, they have already committed to becoming a homeowner. After they complete the class and receive a certificate of completion, many become eligible for low-interest mortgage products and closing costs or down payment programs. So in 2007, after being educated by NeighborWorks® Rochester, 168 families received the assistance they need to successfully pursue their dream of owning a home! This accomplishment is made even more critical in the face of larger trends like the city’s loss of population and the overall decrease in the number of families living in homes that they own in our neighborhoods.

So what about these new homeowners who, after coming down off of the excitement of moving into their new home, now are faced with the reality of how to maintain it? Well, in 2007 NeighborWorks® Rochester provided comprehensive post-purchase education to 245 new homeowners. In these classes, new city residents learned how to avoid predatory lending scams, schedule seasonal maintenance needs and how to go about hiring a contractor, to name but a few topics that are covered.

Thank you to all who have supported our efforts in 2007 – it was a record-breaking year! NeighborWorks® Rochester looks forward to 2008 and continuing to assist potential and new homeowners with maintaining the value of their largest financial investment.