NeighborWorks Center for Foreclosure Solutions announced yesterday that it has received a donation in the amount of $50,000 from Smith Barney, a division of Citigroup Global Markets Inc. The contribution was awarded to help support foreclosure intervention and prevention strategies.
The NeighborWorks Center for Foreclosure Solutions (The Center), was launched in 2005 by the nonprofit groupNeighborWorks America. The Center was created to preserve homeownership in the face of rising foreclosure rates and build the capacity of local foreclosure efforts. The NeighborWorks initiative provides foreclosure intervention counseling training, supports communities’ consumer outreach efforts, works to increase public awareness of the foreclosure epidemic and homeowners’ alternatives, and promotes foreclosure prevention research.

Speaking of the recent donation, Kenneth D. Wade, CEO of NeighborWorks America, said, “We are delighted that Smith Barney is supporting the Center’s efforts to help families avoid foreclosure. The Center’s work has already made a difference for thousands of struggling homeowners and the substantial contribution from Smith Barney will enable many more families to find a solution that works best for them.”
Jim Tracy, director of Citi’s Global Wealth Management Business Development, presented the check to Wade in New York City. “We are proud of the donation Smith Barney has made to help NeighborWorks make a difference in local communities,” Tracy commented. “Now more than ever it is important to help preserve homeownership in the face of rising foreclosure rates.”