Neighborhood Housing Services of NYC Took Over Times Square to Kickoff NeighborWorks® Week 2010

On Friday June 4th, the staff, board members and volunteers of Neighborhood Housing Services of New York City, Inc. (NHS) took over Times Square Pedestrian Plaza, where 96,000 people pass through every day, to raise awareness about loan modification scams and to kickoff National NeighborWorks® Week, a weeklong celebration of the accomplishments of the NeighborWorks® network.

Qualified military service members have one extra year to take advantage of The Homebuyer's Tax Credit of up to $8,000 for first-time buyers and up to $6,500 for certain repeat buyers. This means qualified military members must be under contract on a purchase by April 30, 2011 and close on the deal by June 30, 2011. This benefit is a result of the Worker, Home Ownership, and Business Assistance Act of 2009, which was signed into law by President Obama on November 6, 2009.

Home Buyer's Tax Credit has expired for all Americans, except for three groups: the men and women of the uniformed services of the U.S military, members of the Foreign Service of the U.S., or employees of the intelligence community who are actively serving outside of the U.S. on "official extended duty." Official extended duty is defined as any period of extended duty outside of the United States for at least 90 days during the period beginning December 31, 2008 and ending before May 1, 2010.

Qualified military buyers can also utilize this tax credit along with other available benefits from the Department of Veterans Affairs (VA).

To be a qualified first-time home buyer and receive a tax credit of up to $8,000, the buyer and his or her spouse cannot have owned a home in the last three years. Unlike the Home Buyer Tax Credit for civilians, however, the maximum purchase price of a home is $800,000 under this program – anything over that and the tax credit is invalid. The credit phases out for individual taxpayers with modified adjusted gross income (MAGI) between $125,000 and $145,000 or between $225,000 and $245,000 for joint filers.

To be a qualified "repeat buyer" or non first-time buyer and receive a tax credit for up to $6,500, a buyer must have lived in his or her current residence for five out of the last eight years. The rest of the requirements are generally the same as the $8,000 tax credit.

To take advantage of this benefit, click here to begin the process of buying your first home.

NHS Takes Over Times Square to Kickoff NeighborWorks® Week 2010

The staff, board members and volunteers of NHS will take over Times Square on Friday June 4th to raise awareness about loan modification scams and to kickoff National NeighborWorks® Week, a weeklong celebration of the accomplishments of the NeighborWorks® network.

During National NeighborWorks® Week, June 5–12, Neighborhood Housing Services of New York City and its affiliates throughout the five boroughs will mobilize thousands of business people, residents and government officials in a week of neighborhood change and awareness. They will rehab and repair homes, paint and landscape properties, recognize successful partnerships and host a number of events that educate, train and inform. In 2009, more than 4,700 families benefited from the week’s activities nationwide.

New York, NY (May 4, 2010) – The Board of Directors of Neighborhood Housing Services of New York City, Inc. (NHSNYC) today announced that it has appointed interim chief executive officer Bernell K. Grier as the organization’s CEO, effective immediately.  

Grier joined NHSNYC in 2004 as its chief operating officer.  Prior to joining NHS, Ms. Grier enjoyed a 30-year career in banking beginning at Chase and spanning through Bank of America and its predecessor banks, NatWest USA and Fleet Bank.  At Fleet, Ms. Grier successfully launched the 67-branch Fleet Community Bank network in New York and New Jersey and served as the Director of