Press > Press Releases > REO Homes for the Workforce -- a Northbay Family Homes Success Story!!

REO Homes for the Workforce -- a Northbay Family Homes Success Story!!

October 5, 2011
Northbay Family Homes and its sister non-profit organization Suburban Alternatives Land Trust are pleased to announce the successful first phase completion of the REO HOMES FOR THE WORKFORCE green renovation program*. More importantly, this success means two more families in our community have achieved homeownership!

Friends of Northbay Family Homes…
In the midst of today’s all too often negative housing news, we want to share a significant success story…happening right here in the North Bay community.
 
Northbay Family Homes and its sister non-profit organization Suburban Alternatives Land Trust are pleased to announce the successful first phase completion of the REO HOMES FOR THE WORKFORCE green renovation program*.  More importantly, this success means two more families in our community have achieved homeownership!
 
We hope you’ll take a minute or two to read what the local press had to say about our two new homeowners, the Ibrahims and the Bruinsmas…hope filled stories that can encourage other families to take next steps toward homeownership. To read more about the Ibrahim family please CLICK HERE.  To learn about the Bruinsma family, CLICK HERE.  (It may take a few seconds to load)
As part of our Friends of Northbay Family Homes network, you play an important role in our success. Both of our new homeowners came to us via our community outreach. And, other prospective homeowners introduced to us through our "Friends" network are obtaining PreApprovals and taking advantage of our IT TAKES A TEAM** assistance program.
You can continue to HELP US HELP OTHER FAMILIES along the path to homeownership by forwarding our REO HOMES FOR THE WORKFORCE and IT TAKES A TEAM Workshop announcements on to friends, family, employees, co-workers and those your business or organization serves. In fact, we’ll be sending a new announcement in the next few days encouraging prospective homeowners to get PreApproved for the next round of REO HOMES FOR THE WORKFORCE. We hope you will pass that information along when you receive it.
 Please give me a call or an email if you have any questions...and please contact me if you have any ideas regarding how we could directly assist your employees or those your business or organization serves.
We thank you for your support!
Terry Ward
Northbay Family Homes
415-897-1133
 
To learn more about Northbay Family Homes, please visit our website at:  http://www.nfh.org

*What is REO HOMES FOR THE WORKFORCE?
Through the REO HOMES FOR THE WORKFORCE program, Northbay Family Homes and Suburban Alternatives Land Trust are committed to full renovation of family homes including “greening” of each home to assure increased energy efficiency and reduced utility bills. The Bruinsma's and Ibrahim's renovated townhomes included new energy efficient appliances, double paned windows and increased insulation. Other upgrades included new kitchen cabinets, new doors, upgraded bathroom vanities and fixtures…making the remodeled home “like new”. NFH and SALT hope to offer as many as 18 additional renovated homes in Marin County in the near future and 20 additional in Sonoma County.
 
Funding to help us finance REO HOMES FOR THE WORKFORCE were provided by the Marin Community Foundation, Wells Fargo Bank, PG&E and others. Borrowers making 65% or less of AMI may be eligible for $15,000 in Down Payment and Closing Cost assistance through the Federal Home Loan Bank of San Francisco AHP Program.
 
 CEO Clark Blasdell explained the mission of NFH and SALT: “There are far too many foreclosures in the market today and cash investors are out there buying them up, doing superficial upgrades and turning the properties into rentals. First Time Buyers find it very difficult to compete. Our objective is to make sure homeownership continues so our neighborhoods will be stable and secure. We do this through our REO HOMES FOR THE WORKFORCE by offering “green” renovation homes to families…or through our IT TAKES A TEAM homeownership program by providing the tools to help a First Time Buyer compete and purchase other properties in our community.”
 
 **What is the IT TAKES A TEAM homeownership program?
The Northbay Family Homes’ IT TAKES A TEAM program helps prospective buyers be more competitive in the broader marketplace through: 1) education and counseling, 2) obtaining PreApproval Letters, 3) help in reviewing down payment and assistance programs, 4) introduction to alliance lenders and alliance real estate professionals, 5) assistance in monitoring new listings as they come on the market and 6) generally coordinating the process to “make homeownership happen”.  Prospective buyers PreApproved the IT TAKES A TEAM program may be eligible for REO HOMES FOR THE WORKFORCE program as new rehab properties become available. Call us to learn the details.
 
How to inquire about our REO HOMES FOR THE WORKFORCE and IT TAKES A TEAM programs….
For additional information about available homes under REO HOMES FOR THE WORKFORCE program…or how our IT TAKES A TEAM program can help prospective homeowners in the broader marketplace, please contact: Terry Ward at 415-897-1133 or terry@nfh.org.